A Study on Institutional, Market and Natural Environment Impact on Agrarian Sustainability in Bulgaria

2018 ◽  
Vol 9 (3) ◽  
pp. 452 ◽  
Author(s):  
Hrabrin BACHEV ◽  
Dimitar TERZIEV
Keyword(s):  
Natural Environment ◽  
Institutional Economics ◽  
Institutional Environment ◽  
Critical Factor ◽  
New Institutional Economics ◽  
Environment Impact ◽  
Specific System ◽  
Specific Effects ◽  
Geographical Regions ◽  
The Impact

The specific system of governance is a critical factor, which to a great extent (pre)determines the type and speed of development in different countries, industries, regions, communities, etc. This article tries to fill the gap and assesses the impact of institutional environment on agrarian sustainability in Bulgaria. The interdisciplinary New Institutional Economics framework is applied and assessment made on specific effects of major components of the “external” institutional environment on agrarian sustainability level in different administrative, geographical and ecological regions, subsectors of agriculture, and farms of various juridical type and size. Our study has found out that individual elements of external institutional, market and natural environment affect quite unequally farms of different types, individual subsectors of agriculture, and specific ecological and geographical regions. This type of studies is to be expended and their precision and representation increased. The latter however, requires a close cooperation between all interested parties, and participation of the farmers, agrarian organizations, local and central authorities, interest groups, research institutes and experts, etc.

scholarly journals The impact of regulation governance on financial system efficiency: The importance of consumer behavior

2021 ◽  
Vol 11 (1) ◽  
pp. 80-93
Author(s):  
Alessandra von Borowski Dodl
Keyword(s):  
Financial Services ◽  
Institutional Economics ◽  
Financial System ◽  
New Institutional Economics ◽  
System Efficiency ◽  
Life Plans ◽  
Governance Effectiveness ◽  
Instrumental Values ◽  
The Impact ◽  
Theoretical Apparatus

This study focuses on the value structure that correlates improvements in the financial services consumer’s decision-making quality with the development of their autonomy. The discussion is based on the concepts of ceremonial and instrumental values, according to Bush (1987). We anchor our analysis on the premise that there is still room for enhancing the results within the National Financial System – NFS – by broadening the scope of initiatives on financial services consumers’ education and protection (von Borowski Dodl, 2020). Strengthening this perspective, we emphasize the consumer’s role as an agent and the relevance of taking decisions according to their life plans. The analysis is undertaken through the institutional literature lens, considering both schools of thought: Original Institutional Economics (OIE) (drawing on Tauheed, 2013a, 2013b) and New Institutional Economics (NIE) (focusing on North, 1990). From the conjunction of the theoretical apparatus and the applied analysis, we propose a governance policy within the NFS aimed at increasing its efficiency. Effective communication between stakeholders and consumers’ participation in the structuring of institutions – by publicly evincing their political power – hold the potential for promoting governance effectiveness. Additionally, although the approach taken focuses on the NFS, the diagnosis process carried out in this study can be easily reproduced in other contexts.

scholarly journals The impact of Covid-19 pandemic on the institutional change in developing countries

2021 ◽  
Vol 20 (3) ◽  
pp. 587-601
Author(s):  
Tomasz Legiędź
Keyword(s):  
Developing Countries ◽  
Institutional Change ◽  
Institutional Economics ◽  
Influenza Pandemic ◽  
Civil Liberties ◽  
New Institutional Economics ◽  
Institutional Changes ◽  
Current Events ◽  
Institutional System ◽  
The Impact

Motivation: The Covid-19 pandemic is having a critical impact on economies, especially in developing countries. Such a serious external shock affects the distribution of economic rents, thus leading to potentially large institutional changes. Naturally, in the short term we are dealing with an economic crisis and a restriction of civil liberties in both autocratic and democratic countries, however, it is not known what the dynamics of institutional changes will be in the longer run. Aim: The main purpose of the article is to answer if the Covid-19 pandemic becomes a turning point that will determine the institutional system in developing countries for the next few decades. The first part of the article outlines the theory of institutional change, with particular emphasis on the role of external shocks. The next section presents studies on the socioeconomic impact of two major epidemics: The Black Death and the Great Influenza Pandemic. The third part conducts an assessment as to what extent the current pandemic may affect institutions in developing countries, by reference to the example of two countries: Tunisia and Cambodia. The analysis is conducted from the perspective of the new institutional economics. Results: If we look at the experiences from previous pandemics, current events and refer to the literature on the theory of institutional change, we can conclude that significant institutional changes caused by Covid-19 are unlikely. The process of institutional change is characterized by a specific complexity and changing dynamics. Nonetheless, it is the internal factors, reflecting the actions of people trying to maximize the benefits, which are the main cause of change in an institutional system. Therefore, the Covid-19 pandemic is more likely to strengthen the endogeneity of the process of institutional change, rather than change its course.

scholarly journals Drivers toward Social Entrepreneurs Engagement in Poland: An Institutional Approach

2020 ◽  
Vol 10 (1) ◽  
pp. 5 ◽  
Author(s):  
Agnieszka Pacut
Keyword(s):  
Institutional Economics ◽  
Institutional Environment ◽  
Secondary Data ◽  
Social Enterprises ◽  
Social Entrepreneurs ◽  
Case Study Methodology ◽  
Exploratory Data ◽  
Study Methodology ◽  
The Impact

The aim of this study is to identify the factors that influence the involvement of individuals in social entrepreneurship in Poland from an institutional economics perspective. The research is based on exploratory data analysis using qualitative data covering 22 interviews with social entrepreneurs and 10 representatives of stakeholders from Poland as well as observations and secondary data. By employing an inductive approach and a case study methodology, it can be stated that involvement of social entrepreneurs is stimulated by a complex set of factors. Moreover, the results show the importance of the institutional environment for social enterprises in Poland, including the impact of formal and informal institutions on their development. The findings contribute to enhancing the knowledge on factors determining the establishment and development of social enterprises in Poland given the institutional economics perspective.

scholarly journals A Sustainable Tourism Based on a New Institutional Economics Approach: Ecotourism Based on the Community in the Gasan Gadang Fishermen Village

2021 ◽  
Vol 934 (1) ◽  
pp. 012031
Author(s):  
L Zamzami ◽  
A Azwar ◽  
E Ermayanti
Keyword(s):  
Environmental Impacts ◽  
Institutional Economics ◽  
Descriptive Analysis ◽  
New Institutional Economics ◽  
Environmental Aspects ◽  
Change Analysis ◽  
Community Based ◽  
Test Analysis ◽  
Significant Difference ◽  
The Impact

Abstract This study aimed to determine the patterns of development and implementation of community-based ecotourism management and identify the impact of the community-based ecotourism in Gasan Gadang Village on the economic, social, and environmental aspects of the surrounding community. The methodology used was descriptive analysis with a new institutional economics approach and the Kruskal-Wallis Test analysis. The patterns of development and implementation of community-based ecotourism management with all levels of social change analysis, including formal and informal rules such as culture, customs, habits of Gasan Gadang villagers, institutional and governance management, and even the economy, are considered good. The Community-based ecotourism management has adopted the theory of resource allocation among stakeholders of Gasan Gadang Village. The findings of this study showed that community-based ecotourism institutions and management bring positive impacts on economic, social, and culture. There was no significant difference among economic, social, and environmental impacts between the non-authorities and community-based ecotourism authorities of Gasan Gadang Village. Thus, it could be said that the benefits of community-based ecotourism received by the community were all the same. Everyone got positive benefits. However, based on the findings, it could be seen that the biggest difference was the economic impacts followed by the social impacts, while the smallest difference is the environmental impacts. From this situation, it could be concluded that the performance of community-based ecotourism authorities in Gasan Gadang Village was good and positively impacted the economic, social, and environmental aspects of the Gasan Gadang Village fishermen community.

Oliver E. Williamson,

2016 ◽  
Author(s):  
Andrew B. Whitford
Keyword(s):  
Transaction Cost ◽  
Critical Analysis ◽  
Institutional Economics ◽  
Transaction Cost Economics ◽  
Antitrust Policy ◽  
New Institutional Economics ◽  
Policy Analysts ◽  
The Impact ◽  
First Time

This chapter comments on Oliver Williamson’s 1975 book,Markets and Hierarchies: Analysis and Antitrust Implications, a critical analysis of how firms operate in markets. Williamson describes a new way of understanding markets and hierarchies by using the term “New Institutional Economics” for the first time. This chapter examines Williamson’s approach and the impact of his book, first by discussing his arguments about markets and hierarchies in relation to what policy analysts sometimes call “the politics of ideas”. It then considers Williamson’s particular interest in antitrust policy as well as his thesis about transaction cost economics. Finally, it evaluates the implications of Williamson’s research for the long-term development of a politics of ideas about firms in markets.

scholarly journals The Impact of Regional Culture on the Psychological Characteristics, Startup Behaviors and Regional Economy of Modern Chinese Business Gangs

2021 ◽  
Vol 12 ◽  
Author(s):  
Jun Li ◽  
Wanrong Li ◽  
Yongchuan Shi
Keyword(s):  
Economic Development ◽  
Regional Economy ◽  
Institutional Economics ◽  
Comparative Method ◽  
New Institutional Economics ◽  
Psychological Characteristics ◽  
Regional Culture ◽  
Economic Activities ◽  
Modern Business ◽  
The Impact

Business gang refers to the enterprise cluster formed by geographical relationship, which has always been the focus of research on entrepreneurship and regional economic development. The research of new institutional economics shows that culture, as an informal system, will change the social psychology, thinking mode and behavior of economic individuals, and provide a good environment for the growth of start-ups, thus affecting economic activities and economic development. Taking the five modern business gangs in China as the research subject, this paper uses the comparative method to analyze the regional cultural differences of the five modern business gangs, as well as the differences of the entrepreneurs’ psychological characteristics and startup behaviors. Through the analysis of the economic data of the provinces where the modern business gangs are located, this paper summarizes the differences of economic development in different regions. It is concluded that regional culture has a significant impact on the development of modern business gangs and regional economy. It is necessary to give full play to the advantages of regional culture and promote the high-quality development of modern business gangs and regional economy.

scholarly journals Markets and institutional swamps: tensions confronting entrepreneurs in developing countries

2016 ◽  
Vol 13 (2) ◽  
pp. 243-269 ◽  
Author(s):  
MATTHIAS OLTHAAR ◽  
WILFRED DOLFSMA ◽  
CLEMENS LUTZ ◽  
FLORIAN NOSELEIT
Keyword(s):  
Developing Countries ◽  
Institutional Economics ◽  
Institutional Environment ◽  
Study Data ◽  
New Institutional Economics ◽  
Market Exchange ◽  
Policy Makers ◽  
Formal Policy ◽  
Entrepreneurial Activities

AbstractUnrealized potential of entrepreneurial activities in developing countries has often been attributed to missing formal market-based institutions. In new institutional economics, the concept of ‘voids’ is suggested to describe the absence of market-based institutions. In reality, however, ‘institutional fabrics’ are always and necessarily complex and rich in institutions. No societal sphere is institutionally void. In this article, we contribute to existing literature on entrepreneurship and institutional economics by presenting a framework for studying the richness and complexities of institutional fabrics, as well as ways in which entrepreneurs respond to institutions. Distinguishing four types of institutions relevant for entrepreneurs, we analyze case study data from Ethiopia, and discuss how ‘tensions’ between potentially incompatible institutions result in behavioral frictions. Some entrepreneurs play the complex institutional environment and benefit from the tensions in it, whereas others may drown into the institutional ‘swamp’ they face. Policy makers should acknowledge that institutions not only result from formal policy making and that in many cases a diverse set of institutions is needed to facilitate market exchange and solve constraining tensions. The diversity that results from initiatives of institutional entrepreneurs may create a more effective institutional environment for development.

scholarly journals INFRASTRUCTURE OF THE ADMINISTRATIVE DISTRICT IN THE CONDITIONS OF SECTORAL AND ADMINISTRATIVE-TERRITORIAL REFORMS

2020 ◽  
pp. 31-41
Author(s):  
Alla Melnik ◽  
Ivanna Shymko
Keyword(s):  
Sustainable Development ◽  
System Analysis ◽  
Swot Analysis ◽  
Institutional Environment ◽  
Infrastructure Development ◽  
Administrative District ◽  
Specific System ◽  
Institutional Influence ◽  
Analysis And Synthesis ◽  
The Impact

Introduction. The article raises the issue of compliance of the state of the infrastructure of the administrative district with the task of sustainable development and identifying the impact on quantitative and qualitative indicators of its development of sectoral and administrative-territorial reforms in Ukraine. Goal. This is an assessment of the compliance of the infrastructure of the administrative district with the task of its sustainable development and the development of proposals for improving the institutional support of the process of its development in the context of sectoral and administrative-territorial reforms in Ukraine. Methods: system analysis and synthesis, decomposition method, SWOT-analysis, statistical and index methods are used to solve the problem. Results. the conceptual apparatus is specified, the author’s definition of the concepts «administrative district infrastructure», «institutional environment» and «institutional influence» is given; taking into account the institutional component, the characteristics of the infrastructure of the administrative district as a specific system are given; the environment of infrastructure functioning in the administrative district is analyzed, its strengths and weaknesses, opportunities and threats are revealed; conclusions about the effectiveness of the institutional impact on infrastructure are made on the basis of assessing its level of development by calculating integrated indices and comparing them with the regional average; the system of mechanisms of institutional influence on activization of infrastructure development is offered, to which expansion of practice of formation and realization of strategies of territorial communities, use of the mechanism of public-private partnership and project management is carried. The authors see the prospects of the study in solving the problem of forming complexes of infrastructure facilities in the united territorial communities.

scholarly journals Institutional Environment and Green Economic Growth in China

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Xiaoxiao Zhou ◽  
Lu Wang ◽  
Juntao Du
Keyword(s):  
Economic Growth ◽  
Method Of Moments ◽  
Institutional Economics ◽  
Institutional Environment ◽  
Generalized Method Of Moments ◽  
Econometric Models ◽  
New Institutional Economics ◽  
Three Dimensions ◽  
Green Growth

As the answer to sustainability concerns, green economic growth has gradually attracted considerable attention. Notably, the optimization of the institutional environment contributes to green economic growth from the perspective of new institutional economics. However, few studies have systematically explained the connection between the institutional environment and green growth. In this study, the institutional environment was divided into three dimensions: governmental, legal, and cultural subenvironments. We adopted econometric models with the effect of every dimension on green growth and empirically analyzed with the generalized method of moments, based on Chinese provincial panel data from the years 2000–2016. The results indicated that there was an inverted U-shaped relationship between China’s institutional environment and its green growth. That is, the institutional environment can initially promote China’s green growth but, if it is not changed, will eventually inhibit it. In addition, the analysis on the three dimensions of the institutional environment highlighted that the role of the cultural subenvironment in green growth is greater than those of the governmental and legal subenvironments.

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