Constitutional Traditions, Institutions, Behavioral Prerequisites and Well-being of Countries

2019 ◽  
Vol 2019 (1) ◽  
pp. 30-49
Author(s):  
Hayk Sargsyan ◽  
Ruben Gevorgyan
Keyword(s):  
Institutional Economics ◽  
Institutional Development ◽  
Well Being ◽  
Econometric Analysis ◽  
New Institutional Economics ◽  
Constitutional Culture ◽  
Main Factors

Well-being of countries depend on several factors. According to new institutional economics one of the main factors of national well-being is the level of institutional development. Drawing on econometric analysis, we prove this hypothesis and show that such indicators as constitutional culture, behavioral prerequisites and perception of institutions are indispensable for the well-being of a country. The paper presents various approaches to "measuring" these indicators and issues related to this.

scholarly journals Improved Water Services Cooperation through Clarification of Rules and Roles

Water ◽  
2019 ◽  
Vol 11 (10) ◽  
pp. 2172
Author(s):  
Laura M. Inha ◽  
Tapio S. Katko ◽  
Riikka P. Rajala
Keyword(s):  
Institutional Economics ◽  
Water Governance ◽  
Institutional Development ◽  
Nobel Laureate ◽  
New Institutional Economics ◽  
Research Approach ◽  
Water Services ◽  
Institutional Diversity ◽  
Governance System ◽  
Water Utility

Water services face global challenges, many of which are institutional by nature. While technical solutions may suit several situations, institutional frameworks are likely to vary more. On the basis of constructive research approach and new institutional economics we analyze and illustrate water services and the roles of various water sector actors in Finnish water utility setting using the “soccer analogy” by the Nobel Laureate D.C. North: Institutions are the “formal and informal rules of the game” while organizations are the “players”. Additionally, we assess the Finnish water governance system and discuss issues of scale and fragmentation and distinguish terms water provision and production. Finally, we elaborate the limitations of the soccer analogy to water services through ownership of the systems. According to the soccer analogy, inclusive institutional development requires skillful players (competent staff), team play (collaboration), proper coaching (education), supporters (citizens, media), managers (policymakers), and referees (authorities). We argue that institutional diversity and player/stakeholder collaboration are the foundation for enhancing good multi-level water governance, and that water management, although fragmented, should be seen as a connector of different sectors. For successful outcomes, scientific results should be communicated to public in more common language.

The late medieval and early modern Hanse as an institution of conflict management

2017 ◽  
Vol 32 (1) ◽  
pp. 59-84 ◽  
Author(s):  
JUSTYNA WUBS-MROZEWICZ
Keyword(s):  
Conflict Management ◽  
Early Modern ◽  
Institutional Economics ◽  
Institutional Development ◽  
New Institutional Economics ◽  
Added Value ◽  
Late Medieval ◽  
The Core ◽  
Internal Conflicts ◽  
History Of

ABSTRACTEver since research on the Hanse began in the nineteenth century, there have been repeated efforts to redefine the boundaries and the core of the phenomenon. Views of the Hanse have evolved, and it has been seen by turns as a profoundly German league of towns, and as a network or organisation of towns and traders that was present in commercial centres and harbours from Novgorod to Portugal, and from Norway to Italy. In more general discussions on the institutional development of commerce in Europe, many of them influenced by the New Institutional Economics, the Hanse has even appeared as a mega-guild. The revival of the field of institutional economics and the history of commerce in pre-modern Europe has recently spawned a reappraisal of Hanseatic sources. The present article contributes to this debate by arguing that from the perspective of conflict management, the late medieval and early modern Hanse was an institution. There were several institutional mechanisms, such as a strong preference for mediation and arbitration in conflicts between individuals, as well as a mediation strategy for internal conflicts between towns. All of these mechanisms combined in a multifaceted institution of conflict management, which represented the added value of Hanse membership for traders, and for their towns.

scholarly journals Enhancing Performance of Participatory Water Institutions in the Eastern Indo-Gangetic Plains: What Can We Learn from New Institutional Economics and Governance Theories?

Water ◽  
2019 ◽  
Vol 12 (1) ◽  
pp. 70 ◽  
Author(s):  
Vasant P. Gandhi ◽  
Nicky Johnson
Keyword(s):  
Resource Management ◽  
Water Resource ◽  
Water Resource Management ◽  
Institutional Economics ◽  
Institutional Development ◽  
New Institutional Economics ◽  
Ordered Probit ◽  
Gangetic Plains ◽  
Water Institutions ◽  
Institutional Features

The paper examines the performance of participatory water institutions in India’s Eastern Indo-Gangetic plains region using new institutional economics and management governance fundamentals. Water institutions are of great importance for water resource management in India’s Eastern Indo-Gangetic plains since the region has relatively abundant water but lags behind significantly in economic development and growth with a high incidence of poverty. Engineering solutions to water management have been implemented but have not given good results principally because of weak institutional development and design in the region. Effective and efficient participatory water institutions are urgently needed. The research uses concepts from new institutional economics and management governance theory to build a conceptual framework for explaining the performance of participatory water institutions. The framework identifies eight institutional rationalities: technical, environmental, economic, social, political organizational, financial and government; as well as five institutional features: clear objectives, good interaction, adaptiveness, right scale, and compliance, as linked to performance. Based on this, a survey instrument was developed and a survey conducted obtaining responses from more than 500 households across 51 such institutions in the eastern Indo-Gangetic plains states of Assam and Bihar. The data were analyzed through statistical and econometric techniques including Ordered-Probit. The results support the relevance of the concepts in explaining performance of water institutions, and a number of drivers of performance were identified through Ordered-Probit, particularly, four rationalities—technical, economic, social and organizational, (with coefficients (0.4622, 0.3803, 0.4303, 0.2457) and three institutional features—good interaction, adaptiveness and appropriate scale (with coefficients 0.4242, 0.2703, 0.6756) (based on a 5-point Likert scale), as playing a positive and significant role in enhancing performance. The results provide a number of useful insights which can help guide interventions and policy towards better design and development of the water institutions, and help improve water resource management and livelihoods in the region.

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.

El Prestige: comparativa de los regímenes internacionales de responsabilidad civil

2019 ◽  
Vol 37 (3) ◽  
pp. 31
Author(s):  
Raquel Fernández González ◽  
Marcos Íñigo Pérez Pérez
Keyword(s):  
Institutional Economics ◽  
Geographical Area ◽  
New Institutional Economics ◽  
Rigorous Analysis ◽  
Judicial Process ◽  
Main Research ◽  
Civil Responsibility ◽  
The One ◽  
High Degree ◽  
The Prestige

The return of institutions to the main research agenda has highlighted the importance of rules in economic analysis. The New Institutional Economics has allowed a better understanding of the case studies that concern different areas of knowledge, also the one concerning the management of natural resources. In this article, the institutional analysis focuses on the maritime domain, where two large civil liability regimes for pollution coexist (OPA 90-IMO), each in a different geographical area (United States - Europe). Therefore, a comparative analysis is made between the two large regimes of civil responsibility assignment applying them to the Prestige catastrophe. In this way, the allocation and distribution of responsibilities in the investigation and subsequent judicial process of the Prestige is compared with an alternative scenario in which the applicable compensation instruments are governed by the provisions of the Oil Polution Act of 1990 (OPA 90), in order to establish a rigorous analysis on the effects that the different norms can have in the same scenario. In the comparative established in the case of the Prestige, where the responsibilities were solved very slowly in a judicial process with high transaction costs, the application of rules governed by the OPA 90 would not count with such a high degree of imperfection. This is so, since by applying the preponderance of the evidence existing in OPA 90 there would be no mitigation for the presumed culprits. On the other hand, the agents involved in the sinking would not be limited only to the owner, but also that operators or shipowners would be responsible as well. In addition, the amount of compensation would increase when counting in the damage count the personal damages, the taxes without perceiving and the ecological damage caused in a broad sense, damages not computable in the IMO.

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