Economic Sociology and New Institutional Economics

2008 ◽  
pp. 789-818 ◽  
Author(s):  
Victor Nee ◽  
Richard Swedberg
Keyword(s):  
Economic Sociology ◽  
Institutional Economics ◽  
New Institutional Economics

scholarly journals What Factors Constitute Structures of Clustering Creative Industries? Incorporating New Institutional Economics and New Economic Sociology into A Conceptual Framework

2012 ◽  
Vol 14 (3) ◽  
pp. 213
Author(s):  
Poppy Ismalina
Keyword(s):  
Conceptual Framework ◽  
Economic Sociology ◽  
Institutional Economics ◽  
Local Development ◽  
Industrial Clusters ◽  
New Institutional Economics ◽  
Creative Industries ◽  
Institutional Practices ◽  
Economic Context ◽  
Theoretical Perspectives

Creative industries tend to cluster in specific places and the reasons for this phenomenon can be a multiplicity of elements linked mainly to culture, creativity, innovation and local development. In the international literature, it is pretty well recognized that creativity is frequently characterized by the agglomeration of firms so that creative industries are not homogeneously distributed across the territory but they are concentrated in the space. Three theories are becoming the dominant theoretical perspectives in agglomeration economies theory and they are increasingly being applied in industrial clusters analysis to study the effect of clustering industries. The theories are Marshall’s theoretical principles of localization economies, Schmitz’s collective efficiency and Porter’s five-diamond approach. However, those have adequately theorized neither the institutionalization process through which change takes place nor the socio-economic context of the institutional formations of clustering creative industries. This text begins by reviewing three main theories to more fully articulate institutionalization processes of an economic institution. Specifically, this paper incorporates new institutional economics (NIE) and new economic sociology (NES) to explain the processes associated with creating institutional practices within clustering creative industries. Both streams of institutional theory constitute that economic organizations are socially constructed. Next, this text proposes the framework that depicts the socio-economic context better and more directly addresses the dynamics of enacting, embedding and changing organizational features and processes within clustering creative industries. Some pertinent definitions are offered to be used in a conceptual framework of research about how economic institutions like clustering creative industries constitute their structures.    

Orthodoxy and heterodoxy in analyzing institutions

2003 ◽  
Vol 30 (7) ◽  
pp. 798-826 ◽  
Author(s):  
Milan Zafirovski
Keyword(s):  
Social Science ◽  
Economic Sociology ◽  
Institutional Economics ◽  
Social Institutions ◽  
New Institutional Economics ◽  
Economic Behavior ◽  
Interdisciplinary Treatment ◽  
Historical School ◽  
Classical Economic ◽  
Further Development

The rediscovery and analytical reconstitution are present tendencies in much of social science, especially economics and sociology. The emergence and expansion of the so‐called new institutional economics exemplify these tendencies as do attempts at revival and rehabilitation of the old institutional economics. Analogous tendencies have been manifested in sociology by the further development of economic sociology, especially by various reformulations of its classical premise of institutional structuration and embeddedness of economic behavior. Nevertheless, much of mainstream economics tends to neglect or play down certain salient divergences between the latter's neoclassical or orthodox institutionalism, and heterodox or critical institutionalism advanced by the old institutional economics as well as by economic sociology. Identifies and elaborates such divergences between these seemingly homologous varieties of institutionalism. Since institutionalist varieties and tendencies in both economics and sociology are considered, represents a contribution to an interdisciplinary treatment of social institutions, a treatment originally proposed by the old institutional economics of Veblen et al., the German historical school as well as by Weberian‐Durkheimian classical economic sociology.

Transnational Law and Economic Sociology

2021 ◽  
pp. 66-88
Author(s):  
Sabine Frerichs
Keyword(s):  
Global Economy ◽  
Economic Sociology ◽  
Institutional Economics ◽  
Law And Economics ◽  
New Institutional Economics ◽  
Market Society ◽  
Transnational Law ◽  
The Law ◽  
Economic Perspectives ◽  
Different Levels

Transnational law interacts in various ways with the law of the global economy. Students and experts of transnational law will therefore most likely come across economic arguments. Economic sociology questions mainstream economic perspectives, including their adaptations to the law, and also differs from new institutional economics. By integrating different levels of analysis, economic sociology, and related scholarship in critical political economy, seeks to provide a more comprehensive account of the interrelations of law, economy, and society—and of the rationalities at play. This chapter outlines an economic sociology of law which exposes the constructed nature of the law of the global economy and elucidates the elective affinity between law and economics, which also affects our understanding of transnational legal ordering. To reconstruct this tendency, the chapter develops the concept of the law of market society, which has a critical potential with regard to more conventional perspectives on transnational economic law.

Factors affecting farmers' networking decisions

2011 ◽  
Vol 11 (1) ◽  
pp. 7-17 ◽  
Author(s):  
Stefano Pascucci
Keyword(s):  
Economic Sociology ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Driving Factors ◽  
Multivariate Probit ◽  
Factors Affecting ◽  
Different Types ◽  
Main Factors ◽  
Marketing Cooperatives

This paper analyses farmers' decisions to carry out transactions by using three different types of networks: input supply cooperatives, processing and/or marketing cooperatives, and producers associations. We use arguments from economic sociology and new institutional economics to define the main factors affecting farmers' networking decisions, namely relational, asset and location specificity. We applied a multivariate probit (MVP) model to a sample of 15,368 Italian farmers recorded in the 2006 FADN database in order to analyse the simultaneousness of networking decisions and the main driving factors involved. Our results show that farmers are more likely to join different network types simultaneously.

Vertical Restrictions: Development of Theory, Antitrust Legislation and Enforcement

2010 ◽  
pp. 110-122 ◽  
Author(s):  
S. Avdasheva ◽  
N. Dzagurova
Keyword(s):  
Institutional Theory ◽  
Institutional Economics ◽  
Theory Of The Firm ◽  
New Institutional Economics ◽  
Hierarchical Organization ◽  
Vertical Restraints ◽  
New Institutional Theory ◽  
Antitrust Laws ◽  
Antitrust Legislation ◽  
Market Organization

The article examines the interpretation of vertical restraints in Chicago, post-Chicago and New Institutional Economics approaches, as well as the reflection of these approaches in the application of antitrust laws. The main difference between neoclassical and new institutional analysis of vertical restraints is that the former compares the results of their use with market organization outcomes, and assesses mainly horizontal effects, while the latter focuses on the analysis of vertical effects, comparing the results of vertical restraints application with hierarchical organization. Accordingly, the evaluation of vertical restraints impact on competition differs radically. The approach of the New Institutional Theory of the firm seems fruitful for Russian markets.

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