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.

International Economic Institutions, Institutional Complementarities and Institutionalized Linkages. The International Trade Case

2011 ◽  
pp. 67-90
Author(s):  
Maurizio Mistri
Keyword(s):  
International Economic ◽  
International Trade ◽  
Institutional Economics ◽  
Procedural Knowledge ◽  
New Institutional Economics ◽  
Relative Price ◽  
Economic Institutions ◽  
Real Economy ◽  
Procedural Rationality ◽  
Institutional Complementarity

This paper analyses the forces at the base of the formation processes of international economic institutions following the fundamental New Institutional Economics (NIE) approach. In particular, the paper assumes that new international economic institutions respond to a principle of procedural rationality. This principle indicates that the formation of institutions takes place in an environment dominated by the bounded rationality of agents that produce institutions based on procedural knowledge accumulated over time. Particular attention is dedicated to the relationship between institutional innovation and economic growth. Specialized institutions stem from this relation, on par with the real economy, and generate more and more complex institutional systems. Within the institutionalist approach to the formation of institutions, the paper highlights Aoki's concepts on "institutionalized linkages" and "institutional complementarity"; these concepts are then correlated to Schelling's "strategy decomposition" concept; subsequently the forces that lead to institutional changes (Aoki and North) are analyzed. Specifically, in light of North's approach, conditions are analyzed that determine changes in institutions governing international trade relations deriving from changes in some structural dimensions such as relative price systems. These changes are possible since governments can renegotiate original agreements giving rise to compensations.

scholarly journals Basic theories of modern institutionalism

2021 ◽  
Vol 94 ◽  
pp. 03001
Author(s):  
Ayna Salamova
Keyword(s):  
Economic Analysis ◽  
Institutional Economics ◽  
New Institutionalism ◽  
New Institutional Economics ◽  
Economic Thought ◽  
Psychological Problems ◽  
Historical School ◽  
Independent Direction ◽  
Theoretical Foundations

Institutionalism went through a difficult historical path of its development, went through several stages, each of which was accompanied by the renewal of methodology and theoretical foundations. Consistently at each stage, a corresponding independent direction arose: old institutionalism, new institutionalism (new institutional economics) and neoinstitutionalism (neoinstitutional economics). Modern institutionalism is a qualitatively new direction of economic thought, based on the theoretical principles of economic analysis of the neoclassical school in terms of identifying trends in the development of the economy, as well as the methodological tools of the German historical school in the approach to the study of socio-psychological problems of the development of society.

scholarly journals New Institutional Economics’ Perspective on Wealth and Poverty of Nations. Concise Review and General Remarks on Acemoglu and Robinson’s Concept

2015 ◽  
Vol 62 (s1) ◽  
pp. 11-18
Author(s):  
Joanna Dzionek-Kozłowska ◽  
Rafał Matera
Keyword(s):  
Economic Development ◽  
Economic Analysis ◽  
Economic History ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Political Processes ◽  
Concise Review ◽  
The People ◽  
Open Discussion ◽  
The Common

Abstract Many thinkers made attempts to explain differences in economic development between countries, and point out what should be done to foster development. We review briefly some spectacular theories focused on these fundamental problems. We use the tools of economic analysis and the methods characteristic especially for institutional economics and economic history. However, the paper’s central aim is to analyse and assess one of the newest voices in that still open discussion coming from Acemoglu and Robinson and presented in their “Why Nation Failed? The Origins of Power, Prosperity, and Poverty”. Their book is brimmed with compelling illustrations, which we acknowledge as its strongest point. While the accuracy and coherence of their generalisations leave much to be desired. The analysis of those examples let to infer that the most important element encouraging or hampering economic development is the common participation of the people in economic and political processes.

scholarly journals Theory of institutions by the New Institutional Economics and institutional economic reforms in Vietnam

2018 ◽  
Vol 1 (Q5) ◽  
pp. 5-15
Author(s):  
An Quoc Chau
Keyword(s):  
Economic Development ◽  
Institutional Economics ◽  
Economic Reforms ◽  
Theoretical Background ◽  
New Institutional Economics ◽  
Economic Institutions ◽  
Institutional Economic

Economic institutions play an indispensable role in creating an impetus for economic development. Although the concepts of institutions and economic institutions are not new in Vietnam, their connotation and nature remain controversial. This paper aims to clarity the connotation and the nature of institutions and economic institutions, thereby reflecting their roles in economic development. On the basis of the theoretical background, the study evaluates the qu lity of Vietn m’s e onomi institutions n offers suggestions so as to increase their quality.

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.

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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