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.

Dilemma of Simultaneity

2019 ◽  
pp. 471-479
Author(s):  
Ilyas Saliba ◽  
Wolfgang Merkel
Keyword(s):  
National Identity ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Nation Building ◽  
Economic Transformation ◽  
Three Dimensions ◽  
Political Transformation ◽  
The Third ◽  
Transformation Processes

The theory of the dilemma of simultaneity is empirically based on the transformations of post-socialist states in Central and Eastern Europe. The transformations after the collapse of the socialist bloc were without precedent with regards to breadth and depth. The dilemma of simultaneity consists of three parallel transition processes on three dimensions. The first part of this chapter explores the three dimensions of the transitions: nation building, political transformation, and economic transformation. The second part discusses the three levels of transformation: (1) ethno-national identity and territory, (2) polity, and (3) socio-economic distribution. The third part highlights the complexity and challenges of multidimensional simultaneous transformation processes. The fourth and fifth parts discuss the role of international actors and socio-economic structures on the transitions in Central and Eastern Europe. The chapter concludes with an account of Elster’s and Offe’s critics and their response.

Political Settlements and Economic Transformation

2018 ◽  
Author(s):  
Hazel Gray
Keyword(s):  
Institutional Economics ◽  
Building Blocks ◽  
Analytical Framework ◽  
Economic Transformation ◽  
New Institutional Economics ◽  
Technological Learning ◽  
The Core ◽  
1960S And 1970S ◽  
The 1960S ◽  
Political Settlement

This chapter sets out the analytical framework of political settlements and elaborates the framework to account for the socialist experiences of Tanzania and Vietnam in the 1960s and 1970s. A political settlement, as defined by Mushtaq Khan, is a combination of power and institutions that is mutually compatible and also sustainable in terms of economic and political viability. The chapter clarifies the core building blocks of the approach and sets out the main differences between political settlements and new institutional economics. The chapter then defines a socialist political settlement where productive rights are formally held by the collective and formal institutions protect common and collectively owned assets. The attempts to construct a socialist political settlement left important institutional, political, and economic legacies. These shaped incentives and constraints which influenced a number of critical processes at the heart of economic development—related to technological learning, accumulation for investment, and political stabilization.

Roman History

2021 ◽  
Vol 68 (1) ◽  
pp. 135-148
Author(s):  
James Corke-Webster
Keyword(s):  
Roman Republic ◽  
Social History ◽  
Institutional Economics ◽  
Economic Transformation ◽  
New Institutional Economics ◽  
Roman History ◽  
Drivers Of Change ◽  
Ancient Economy

A bumper edition this time, by way of apology for COVID-necessitated absenteeism in the autumn issue. The focus is on three pillars of social history – the economy (stupid), law, and religion. First up is Saskia Roselaar's second monograph, Italy's Economic Revolution. Roselaar sets out to trace the contribution made by economics to Italy's integration in the Roman Republic, focusing on the period after the ‘conquest’ of Italy (post 268 bce). Doing so necessitates two distinct steps: assessing, first, how economic contacts developed in this period, and second, whether and to what extent those contacts furthered the wider unification of Italy under Roman hegemony. Roselaar is influenced by New Institutional Economics (hereafter NIE), now ubiquitous in studies of the ancient economy. Her title may be an homage to Philip Kay's Rome's Economic Revolution, but the book itself is a challenge to that work, which in Roselaar's view neglects almost entirely the agency of the Italians in the period's economic transformation. For Roselaar, the Italians were as much the drivers of change as the Romans; indeed, it is this repeated conviction that unifies her chapters.

TRADE TASKS BETWEEN MANUFACTURERS AND CONSUMERS CONNECTION STATE

2021 ◽  
Vol 4 (2) ◽  
pp. 24-31
Author(s):  
Nargiz Sattarova ◽  
Keyword(s):  
Economic Transformation ◽  
Economic Entity ◽  
Effective Operation ◽  
Depth Study ◽  
Definition Of ◽  
Favorable Conditions ◽  
Current Stage

This article presents the definitions of the concept of trade services by various scientists, the place and role of trade services in all spheres and sectors of society, as well as a new definition of trade services given by the author.If the main goal of the current stage of economic transformation is to create favorable conditions for the effective operation of trade enterprises, then the main goal of the article is an in-depth study of the essence and content of the concept of trade services as an independent economic entity.

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.

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.

scholarly journals Creating Values for Sustainability: Stakeholders Engagement, Incentive Alignment, and Value Currency

2012 ◽  
Vol 2012 ◽  
pp. 1-9 ◽  
Author(s):  
Frank T. Lorne ◽  
Petra Dilling
Keyword(s):  
Value Creation ◽  
Institutional Economics ◽  
Evaluation Method ◽  
Evolutionary Process ◽  
New Institutional Economics ◽  
Incentive Alignment ◽  
Economic Role ◽  
Shareholder Theory ◽  
The Difference

A shareholder theory of firm and a stakeholder theory of firm may differ in their respective evaluation method of firm performance. Both theories however recognize the importance of value creation as the economic role of firms as institutions. The New Institutional Economics (NIE) emphasizes incentives alignment, while also viewing stakeholder engagements as methods to expand the boundaries of firms. The difference in performance evaluation between the two approaches can be reduced if stakeholders, while formulating incentive alignment, also evaluate the mechanisms of establishing a common currency value. The concomitant development of stakeholder engagement, incentive alignment, and value currency creation is argued to be an evolutionary process with the efficiency implications of the two theories tending to converge.

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