scholarly journals Economics and Economic Order of Societies

2021 ◽  
pp. 150-160
Author(s):  
Zbigniew Hockuba ◽  
Keyword(s):  
Informal Institutions ◽  
Economic Transformation ◽  
Economic Order ◽  
Moral Norms ◽  
Economic Agents ◽  
Systemic Transformation ◽  
Formal And Informal Institutions ◽  
Economic Thinking ◽  
Subjective Representation ◽  
Freiburg School

Departing from the distinction proposed by J. Buchanan between thinking in economics in terms of the theory of choice and analysis in categories of exchange and coordination, we claim that the Hayekian concept of economic order has a significant heuristic potential and can be fruitfully used to explain some important socio-economic phenomena. The goal of this paper is to confirm this claim through the application of the concept of economic order in the analysis of economic transformation and the discussion of the relation between economic order and moral norms. The paper is organised as follows. Section I contains introductory remarks. In section II, the two systems of economic thinking and reasoning: the theory of choice and analysis in categories of exchange and coordination are briefly presented. Section III contains a discussion of the concept of economic order, its origin, relation to the Freiburg School notion Ordo, and J. Buchanan’s perspective on the market and exchange. In section IV, two areas of the application of the concept of economic order are presented: a) systemic transformation as a change in formal and informal institutions, their subjective representation by economic agents and the complex economic order, b) a relation between economic order and moral norms. Conclusions are drawn in section V.

scholarly journals THE INFLUENCE OF INSTITUTIONS ON THE DYNAMICS OF POSTSOCIALIST TRANSFORMATION PROCESSES IN UKRAINE

2021 ◽  
Vol 4 (39) ◽  
pp. 512-520
Author(s):  
E. Moroz
Keyword(s):  
Economic Development ◽  
Informal Institutions ◽  
Jel Classification ◽  
Economic Transformation ◽  
Western Countries ◽  
Property Relations ◽  
Formal And Informal Institutions ◽  
Effective System ◽  
Transformation Processes

Abstract. Attention is paid to the important role of an effective system of institutions to ensure the economic development of Ukraine. It is noted that the formation of this system should be given the attention of scientists, as well as government agencies. The content of economic transformation of postsocialist countries, in particular Ukraine, is studied. The study was conducted using the methodology of comparing the capitalist and socialist systems, as well as the historical approach. The content of categories «property» and «transformation» is considered, as well as the influence of property institutions on the dynamics of transformation processes that took place in postsocialist countries. The interrelation and interdependence between the influence of institutions and the dynamics of the process of postsocialist transformation are determined. Results of the study showed a low level of development of formal institutions in Ukraine, while informal institutions act as a natural brake on further economic development. It is emphasized that the influence of institutions on the dynamics of postsocialist transformation processes is essential and crucial in Ukraine. Based on the institution of ownership, the effects of ownership are considered. Western countries are able to generate capital and maximize the benefits of using property due to their full use. Unlike Western countries, in Ukraine property is considered on the basis of the object, and not through a system of rights that can be used by the owner. The nature of legal and illegal property relations, as well as the preconditions for the transformation of property institutions, are considered in detail. The influence of formal and informal institutions on the dynamics of postsocialist transformation processes in Ukraine is determined. The emergence of intangible property by example of intellectual property, as well as the importance of compliance and implementation of property rights by the legislative system are considered. Conclusions are made about the current situation of the socio-economic system of Ukraine in the context of the transformation of formal and informal institutions. Keywords: institute, property, transformation, capital, entrepreneurship. JEL Classification P31 Formulas: 0; fig.: 0; tabl.: 1; bibl.: 15.

Informal Institutions and Women’s Political Representation in Chile (1990–2015)

2018 ◽  
Author(s):  
Susan Franceschet
Keyword(s):  
Political Representation ◽  
Informal Institutions ◽  
Women's Ministry ◽  
Gender Parity ◽  
Formal And Informal Institutions ◽  
Electoral Reforms ◽  
National Congress ◽  
Gender Quota ◽  
Female President ◽  
Elected Office

Despite electing a female president, Michelle Bachelet, and at one point achieving gender parity in cabinet appointments, women’s presence in Chile’s national congress remains small, is only slightly higher at local levels, and is extremely limited among party and coalition leaders. In her gendered analysis of representation, Susan Franceschet argues this is because of the strong formal and informal institutions that limit the size of electoral districts, require large thresholds to win seats, and require coalition negotiation over candidates for elected office. Even though women have a mixed record of representation, their presence has had important policy consequences. A gender-focused presidency has been critical for passage of gender-attentive policies. Women in Chile’s legislative arenas have been more likely to bring gender issues to the agenda. Franceschet points out that Sernam, the women’s ministry, has played a critically important role in this. The electoral reforms approved by congress in 2015 include a gender quota, creating expectations that improvements will continue.

scholarly journals Formal institutions and the development of entrepreneurial activity – the contingent role of corruption in emerging economies

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Arezou Harraf ◽  
Hasan Ghura ◽  
Allam Hamdan ◽  
Xiaoqing Li
Keyword(s):  
Emerging Economies ◽  
Corporate Entrepreneurship ◽  
Informal Institutions ◽  
Entrepreneurial Activity ◽  
Future Research ◽  
Formal Institutions ◽  
Business World ◽  
Content Type ◽  
Formal And Informal Institutions ◽  
Control Of Corruption

PurposeThe paper aims to analyse the interplay between formal and informal institutions' and their impact on entrepreneurship rates in emerging economies.Design/methodology/approachThis study expands previous research in examining the moderating effect of control of corruption on the relationship between formal institutions and the development of the entrepreneurial activity. The study utilizes longitudinal analyses of a dataset from 41 emerging economies over 11 years (2006–2016).FindingsFindings provided robust support for the study's hypotheses. The results suggested lower levels of corruption positively moderate the effects of a country's number of procedures and education and training on the rates of entrepreneurial activity, while negatively moderating the effects of firm-level technology absorption on the rates of entrepreneurial activity.Research limitations/implicationsThe study has considered only one particular aspect of high-growth entrepreneurship, which is newly registered firms with limited liability. Although newly registered firms are recognized as one of the critical drivers of entrepreneurial activity. Future research should seek to examine other aspects of growth-oriented entrepreneurship such as activities involving a high level of innovation, corporate entrepreneurship or technology developments.Practical implicationsThis study advanced the existing theories in the field of entrepreneurship and institutional economics as it merged the two theories as a driving framework in the design of the study in the context of emerging economies.Social implicationsThe study tested a theoretical model by expanding the number of emerging economies in the study and found comparable findings that explain factors that may influence the likelihood of individuals entering entrepreneurship.Originality/valueThis article adds to the current literature as it highlights the importance of the interplay of formal and informal institutions in determining their impact on entrepreneurship rates in emerging economies. This is of particular importance to policy-makers, and the business world as the empirical results of this study show the benefits of control of corruption in boosting entrepreneurial rates in these economies, which strive for economic diversification in their developmental endeavours.

scholarly journals UPAYA PENYELESAIAN SENGKETA WILAYAH PERBATASAN DARAT INDONESIA – TIMOR LESTE

2018 ◽  
Vol 18 (01) ◽  
pp. 1-12
Author(s):  
Imelda Masni Juniaty Sianipar
Keyword(s):  
International Relations ◽  
International Law ◽  
Indigenous Peoples ◽  
Foreign Minister ◽  
Informal Institutions ◽  
Foreign Affairs ◽  
Timor Leste ◽  
Formal And Informal Institutions ◽  
Border Dispute ◽  
Settlement Of Dispute

AbstractOn the Annual Press Statement of the Indonesian Minister for Foreign Affairs 2017, Minister for Foreign Affairs, Retno LP Marsudi stated that Indonesia will accelerate the settlement of negotiations on the border issues of Indonesia with several neighboring countries including Timor Leste. Foreign Minister Retno also stressed that the settlement of Indonesia's border with Timor-Leste will be peaceful, without threat of violence, and with full respect for international law. This article seeks to understand the border dispute of the border areas of Indonesia-Timor Leste in international relations perspective. There are three strategies that Indonesia can implement to resolve this dispute. They are military confrontation, the use of formal institutions such as international organizations and the use of informal institutions such as norms, beliefs, ideas and values. The article argues that it is not enough to rely solely on international agreements to resolve the dispute between Noel Besi / Citrana and Bijael Sunan / Oben, Indonesia needs to emphasize the importance of understanding the norms, beliefs, ideas and values of indigenous peoples living in disputed territories. It is expected that the use of formal and informal institutions can accelerate the settlement of dispute Noel Besi / Citrana and Bijael Sunan / Oben.Keywords: land border dispute, Indonesia, Timor Leste AbstrakPada Pernyataan Pers Tahunan Menteri Luar Negeri Tahun 2017, Menteri Luar Negeri (Menlu) Retno LP Marsudi menyatakan bahwa Indonesia akan mempercepat penyelesaian perundingan masalah perbatasan wilayah Indonesia dengan beberapa negara tetangga, salah satunya adalah Timor Leste. Menlu Retno juga menekankan bahwa penyelesaian perbatasan Indonesia dengan Timor Leste akan dilakukan secara damai, tanpa ancaman kekerasan, dan dengan penghormatan sepenuhnya pada hukum internasional. Artikel ini berupaya memahami sengketa perbatasan wilayah perbatasan Indonesia-Timor Leste dalam perspektif hubungan internasional. Ada tiga strategi yang dapat ditempuh oleh Indonesia dalam rangka menyelesaikan sengketa ini yaitu konfrontasi militer, penggunaan institusi formal seperti organisasi internasional serta penggunaan institusi informal yaitu norma, kepercayaan, ide dan nilai. Artikel ini berargumen bahwa untuk menyelesaikan sengketa Noel Besi/Citrana dan Bijael Sunan/Oben tidak cukup menggandalkan traktat / perjanjian internasional saja, Indonesia perlu lebih menekankan pada pentingnya pemahaman akan norma, kepercayaan, ide dan nilai dari masyarakat adat yang tinggal di wilayah sengketa tersebut. Niscaya penggabungan strategi pemanfaatan institusi formal dan informal tersebut dapat mempercepat penyelesaian sengketa Noel Besi/Citrana dan Bijael Sunan/Oben.Kata kunci: sengketa wilayah perbatasan darat, Indonesia, Timor Leste

scholarly journals The Impact of Interplay Between Formal and Informal Institutions on Corporate Governance Systems: a Comparative Study of CEECs

2018 ◽  
Vol 21 (4) ◽  
pp. 85-104
Author(s):  
Małgorzata Godlewska ◽  
Tomasz Pilewicz
Keyword(s):  
Corporate Governance ◽  
Deductive Reasoning ◽  
Case Study Research ◽  
Individual Case ◽  
Informal Institutions ◽  
Comparative Case Study ◽  
Governance Systems ◽  
Formal And Informal Institutions ◽  
The Impact

The central point of this paper is to present the results of comparative case study research concerning the impact of the interplay between formal and informal institutions in the corporate governance systems (CGS) of Central and Eastern European Countries (CEEC). Particular focus was put on the values of the corporate governance codes (CGC) of CEECs, as well as on transparent ownership structures, transactions with related parties, the protection of minority shareholders, independent members of supervisory boards, and separation between the CEO position and the chairman of the board of directors. The main subject of interest concerns two research areas: the character of the relationship between formal and informal institutions, as well as whether the interplay between them is relevant to the CGSs of CEECs. Moreover, the author investigates whether the CGCs of CEECs consist of regulations that are compatible with the values set up in preambles using research methods such as individual case study or deductive reasoning. The conclusion presented in the paper was drawn on the basis of a review of the literature and research on national and European corporate governance regulations, as well as the CGC of CEECs. The primary contribution this article makes is to advance the stream of research beyond any single country setting, and to link the literature on the interplay between formal and informal institutions related to CGSs in a broad range of economies in transition (‘catch up’ countries) like CEECs. This paper provides an understanding of how the interplay between formal and informal institutions may influence the CGCs of CEECs.

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