The Role of Law in the New Institutional Economics in Comparison With the Economic Analysis of Law

2015 ◽  
pp. 77-96
Author(s):  
Rudolf Richter
Keyword(s):  
Economic Analysis ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Economic Analysis Of Law

scholarly journals EFFICIENCY AND CONTINUITY IN PUBLIC FINANCE: THE OTTOMAN SYSTEM OF TAXATION

2005 ◽  
Vol 37 (4) ◽  
pp. 567-586 ◽  
Author(s):  
Metin M. Coşgel
Keyword(s):  
Public Finance ◽  
Economic Analysis ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Neoclassical Economic ◽  
New Approach ◽  
The Past ◽  
Great Progress

Economic historians have recently made great progress in studying the past by applying the tools and concepts of New Institutional Economics. A fundamental element of this achievement has been to go beyond the narrow confines of previous approaches. Whereas the application of narrow neoclassical economic analysis typically lacked an appreciation for the role of history and focused primarily on the efficiency properties of institutions, the new trend has been to integrate economic and historical approaches for richer and more comprehensive explanations of how and why history mattered. Similarly, whereas unsystematic historical approaches lacked sound theoretical bases and proceeded narrowly by focusing on how previous customs and traditions were responsible for the existence of an institution, the new approach has been also to examine the properties of the institution that ensured its survival.

Of Law and Economics and Economic Analysis of Law: The Role of the Lawyer

Global Jurist ◽  
2019 ◽  
Vol 19 (3) ◽  
Author(s):  
Guido Calabresi
Keyword(s):  
Economic Analysis ◽  
Law And Economics ◽  
Economic Analysis Of Law ◽  
Yale University ◽  
The Future

Abstract This is the first chapter of The Future of Law and Economics: Essays in Reform and Recollection by Guido Calabresi, first published by Yale University Press in 2016.

Institutions

2019 ◽  
pp. 30-41
Author(s):  
Stefan Voigt
Keyword(s):  
Institutional Economics ◽  
Research Area ◽  
Economic Transformation ◽  
New Institutional Economics ◽  
Transformation Property ◽  
Special Focus ◽  
Political Transformation ◽  
Definition Of ◽  
Transformation Processes

This chapter offers a look at transformation processes from the perspective of the new institutional economics (NIE). It briefly describes the main pillars of this research area, including its assumptions, the definition of institutions, and their interplay. It is shown that the NIE can contribute to explaining the outcome of transformation processes by pointing at the different institutions relied upon during transition. In the section surveying the large literature on institutions and transition, special focus is laid on the role of constitutions for political transformation, property rights for economic transformation, and internal or informal institutions as institutions largely exempt from deliberate transformation which can, hence, constitute an important constraint in transformation processes. The chapter concludes by pointing out some research gaps.

Transformation of the State and Political Economy of the Governance

2020 ◽  
pp. 239-257
Author(s):  
Emek Yıldırım
Keyword(s):  
Political Economy ◽  
Public Administration ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
The State ◽  
State Model ◽  
Functional Changes ◽  
The Public ◽  
Role Of The State

By the 1980s and 1990s, neoliberal policies such as privatizations and deregulations transforming the minimal state model to regulative state model from the Keynesian social welfare state system made some structural and functional changes in the state mechanism, and the public administration has been in the first place due to the changing relationship between the state and the market. In fact, within this context, the new institutional economics (NIE) had a remarkable influence upon the debates upon the altering role of the state. Hence, the transformation of the state in this regard also revealed the argumentations on the governance paradigm along with the doctrinaire contributions of the new institutional economics. Therefore, this chapter will discuss the transformation of the state and the political economy of the governance together with a critical assessment of the new institutional economics in the public administration.

Re-Thinking the Role of Institutions in Neoliberalism From New Institutional Economics Perspective

2020 ◽  
pp. 25-40
Author(s):  
Ilke Civelekoglu ◽  
Basak Ozoral
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Developing Countries ◽  
Property Rights ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
The Political ◽  
Formal Institutions ◽  
Fertile Ground

In an attempt to discuss neoliberalism with a reference to new institutional economics, this chapter problematizes the role of formal institutions in the neoliberal age by focusing on a specific type of formal institution, namely property rights in developing countries. New institutional economics (NIE) argues that secure property rights are important as they guarantee investments and thus, promote economic growth. This chapter discusses why the protection of property rights is weak and ineffective in certain developing countries despite their endorsement of neoliberalism by shedding light on the link between the institutional structure of the state and neoliberalism in the developing world. With the political economy perspective, the chapter aims to build a bridge between NIE and political economy, and thereby providing fertile ground for the advancement of NIE.

scholarly journals An Economic Analysis of the Perception of ‘Grief’ in the Letter to Philippians in the Light of New Institutional Economics (NIE)

Scrinium ◽  
2020 ◽  
Vol 16 (1) ◽  
pp. 3-19
Author(s):  
Alex Hon Ho Ip
Keyword(s):  
Economic Analysis ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Economic Institutions ◽  
Primary Reason ◽  
Textual Evidence ◽  
One Step ◽  
Informal Rules

Abstract Beginning with Paul Holloway’s view that the letter to Philippians is a letter of consolation aimed at comforting the “grief” of the grieving among the Philippi community, this paper argues one step further that the grief in the community is a problem of perception, with the help of new institutional economics (NIE). The primary reason for the divergence in perception is due to living in the Roman colony, the believing community was greatly affected by the values embedded in both formal and informal rules of the economy. In order to justify this view, this paper will, first, demonstrate the textual evidence showing that Paul’s major concern is the perception of believing community. Then, with the help of NIE, I will show how the formal and informal economic institutions of the Roman colony might constitute a perception that is very different from what Paul would expect.

Comparative Law and Economic Analysis of Law

2019 ◽  
pp. 825-851 ◽  
Author(s):  
Florian Faust
Keyword(s):  
Economic Analysis ◽  
Subject Matter ◽  
Law And Economics ◽  
Comparative Law ◽  
Case Law ◽  
The Other ◽  
Economic Analysis Of Law ◽  
The Subject ◽  
The Relationship

This chapter discusses the relationship between comparative law and economic analysis of law. After providing an overview of the characteristics of the economic analysis of law, it explains how one of the two disciplines can operate as an ancillary discipline to the other; this has been termed ‘Comparative Law and Economics’. The next section describes how comparative law and economic analysis of law can be brought together by making one discipline the subject matter of the other. It suggests that the role of economic analysis of law may be greater in case law systems than in codified systems and that this role may vary according to the subject of legislation. The section concludes with considerations on the role comparative law plays and should play in different contexts. Finally, it is argued that comparative law and economics should not be considered a discipline on its own.

Ronald Coase's impact on economics

2014 ◽  
Vol 11 (2) ◽  
pp. 227-244 ◽  
Author(s):  
MARY M. SHIRLEY ◽  
NING WANG ◽  
CLAUDE MÉNARD
Keyword(s):  
Institutional Economics ◽  
Social Cost ◽  
Law And Economics ◽  
New Institutional Economics ◽  
Careful Study ◽  
Empirical Reality ◽  
Role Of Government ◽  
Institutional Issues ◽  
Rapid Transformation

AbstractRonald Coase had a profound impact on scholarship worldwide, and not for his ideas alone. Coase's ideas about transaction costs, the nature of the firm, the role of government, and the problem of social cost have been hugely influential. Throughout his long life, he also worked to change the conduct of economics, urging economists to ground their conclusions in careful study of empirical reality rather than theories that work only on the blackboard. Less well known, perhaps, is his work to nurture and shape the emerging fields of law and economics and new institutional economics, or his support to young scholars studying institutional issues around the world. In his final years, he was preoccupied by the rapid transformation of China and the institutional structure of production. This article summarizes Coase's significant intellectual contributions to economics, pointing out along the way some of the traits that made him such a powerful thinker and exceptionally influential scholar.

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