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Journal articles on the topic 'Institutional economics'

Author: Grafiati

Published: 4 June 2021

Last updated: 29 July 2024

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1

Devy C Yudihutomo. "Institutional Approach in Economics and Institutional Economic Thinking." Demagogi: Journal of Social Sciences, Economics and Education 2, no. 2 (May 19, 2024): 81–88. http://dx.doi.org/10.61166/demagogi.v2i2.19.

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Aspects of economic methodology contained in Institutional economics are often incorporated into orthodox economics. Orthodox economics means economic thoughts that use and continue classical economic views, such as free competition, perfect competition, consumer satisfaction. The person who was most influential and had a dominant role in the existence of the Institutional school was Thorstein Bunde Veblen. He criticized Classical and Neo-classical economic theories which ignored non-economic aspects such as institutions and the environment. In fact, Veblen considered that the influence of circumstances and the environment was very large on people's economic behavior. Unsupportive political and social structures can cause distortions in economic processes. For Veblen, society is an evolutionary phenomenon, everything is constantly changing. A person's behavioral patterns in society are adapted to current social conditions. If the behavior is suitable and accepted, then the behavior will continue. On the other hand, if a behavior is deemed unsuitable, the behavior will be adapted to the environment. These circumstances and environments are what Veblen called "institutions". In this case, it is explained that what Veblen means by institutions are things related to norms, values, habits and culture. Furthermore, everything is reflected in economic activities, both in production and consumption.

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2

Knežević, Vladimir, Dragan Ivković, and Aleksandra Penjišević. "Institutional economics and economic development." Ekonomika 66, no. 3 (2020): 81–94. http://dx.doi.org/10.5937/ekonomika2003081k.

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This research deals with the relationship between economic quality of institutions and economic development. For obtaining the value quantification of institutional quality, we measured rankings of 138 most important national economies based on three pillars of competitiveness, and we used Gross national product per capita to measure development. We applied Spearman`s rank correlation coefficient based on these two parameters for measuring the relationship between ranking of national economies. There is no doubt that a strong direct relationship was recognised. The value of the result lies in the identification of institutional economics as the major cause for different development levels of certain countries. This implies that in case of value measurement of our country, also the most efficient tool would be to put focus on increase of institutional quality.

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3

Prasad, Biman C. "Institutional economics and economic development." International Journal of Social Economics 30, no. 6 (June 2003): 741–62. http://dx.doi.org/10.1108/03068290310474120.

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4

REISMAN, DAVID A. "Economic sociology and institutional economics." Journal of Institutional Economics 3, no. 1 (April 2007): 91–112. http://dx.doi.org/10.1017/s1744137406000579.

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Abstract:Economic sociology was a core concern of early political economists like Smith, Marx, Pareto, and Marshall. The new economic sociology has sought to revive the neglected subdiscipline using the construct of interpersonal networks. Richard Swedberg has assembled 42 substantial papers in this collection. This article, reviewing his selection, proceeds in three stages. First, it provides a general framework for the debate. Second, it discusses the papers specifically linked to networks. Third, it analyses the contributions that go beyond the concept of social processes as personal relationships.

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5

Whalen, Charles J. "Institutional Economics." Journal of Economic Issues 24, no. 3 (September 1990): 923–29. http://dx.doi.org/10.1080/00213624.1990.11505087.

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6

Ankarloo, Daniel. "New Institutional Economics and economic history." Capital & Class 26, no. 3 (October 2002): 9–36. http://dx.doi.org/10.1177/030981680207800102.

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New Institutional Economics (NIE) has been celebrated as a path-breaking approach to the understanding of capitalism. This article advances a conceptual critique of NIE approaches to economic history. The author suggests that NIE cannot solve the underlying tension, that its economics remains ahistorical, and that when history, social relations and realism are invoked, the economics disappears, being replaced by various cultural and state-centred explanations. Therefore NIE is not so much a research programme in progress, but rather an indication of the degeneration of the tools of neo-classical economics.

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7

Agboola, Alirat Olayinka. "Neoclassical economics and new institutional economics." Property Management 33, no. 5 (October 19, 2015): 412–29. http://dx.doi.org/10.1108/pm-12-2014-0055.

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Purpose – The purpose of this paper is to examine the provisions of both the neoclassical economics and new institutional economics theses and assesses the implications of their methodologies for property market analysis. Design/methodology/approach – This research is based on secondary literature review and desk-based study. Findings – It is argued that new institutional economics, grounded on firmer foundations of human behaviour, offers an analytical approach to the study of the property market which emphasizes the institutionally contingent nature of real estate exchange, thus placing real estate within its socio-economic context. Originality/value – In-depth examination and juxtaposition of the provisions, assumptions, philosophical orientations and limitations of these main traditions of economic thought towards the achievement of a representative study of the workings of the property market.

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8

KAYIKÇI, Fazıl, and Mustafa KESGİN. "Contributions of Institutional Economics to Economic Thought." Yildiz Social Science Review 8, no. 1 (July 21, 2022): 52–64. http://dx.doi.org/10.51803/yssr.1146878.

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It is seen that interest in the effects of human behavior on economic events and phenomena has been increasing in recent years. In this context, institutions where behaviors become a set of formal-informal rules that determine the boundaries of choice for the stakeholders of the society from thought to action and form the framework of individual action by gaining stability, are of great importance in terms of developing an economic thinking system compatible with the real world. With its dynamic perspective on economic events and phenomena, the institutional economic tradition has revealed important discoveries by evaluating the effects of institutions on the economic order from different perspectives and closed a major gap in this area. With this study, the historical adventure of institutional economics, which started with the pioneering studies that Thorstein B. Veblen put forward based on the Darwinian evolution approach, has been discussed from the perspective of old and new institutional economics. By presenting the contributions of the prominent representatives of the tradition to economic thought through labor included in the analysis, it is aimed to open a door from the perspective of institutionalized behavior to studies on the economic impact of human behavior. In addition, the evaluations for the sustainability of the institutional tradition were discussed, and the advantages and disadvantages of the tradition in question were emphasized within the framework of today's prevailing economic approach.

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9

Libecap, Gary D. "The New Institutional Economics and Economic History." Journal of Economic History 57, no. 3 (September 1997): 718–21. http://dx.doi.org/10.1017/s0022050700019112.

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10

Kilpatrick, Henry E., and Shigeto Tsuru. "Institutional Economics Revisited." Southern Economic Journal 61, no. 2 (October 1994): 551. http://dx.doi.org/10.2307/1060012.

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11

Tylecote, Andrew, and Shigeto Tsuru. "Institutional Economics Revisited." Economic Journal 106, no. 437 (July 1996): 1092. http://dx.doi.org/10.2307/2235391.

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12

Rosen, George. "Institutional Economics Revisited." Journal of Economic Issues 28, no. 3 (September 1994): 953–57. http://dx.doi.org/10.1080/00213624.1994.11505605.

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13

Potts, Jason. "Evolutionary Institutional Economics." Journal of Economic Issues 41, no. 2 (June 2007): 341–50. http://dx.doi.org/10.1080/00213624.2007.11507020.

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14

Paavola, Jouni, and W. Neil Adger. "Institutional ecological economics." Ecological Economics 53, no. 3 (May 2005): 353–68. http://dx.doi.org/10.1016/j.ecolecon.2004.09.017.

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15

Vatn, Arild. "Institutional Economics—The Economics of Ecological Economics!" Ecology, Economy and Society–the INSEE Journal 1, no. 1 (March 2, 2020): 5–9. http://dx.doi.org/10.37773/ees.v1i1.4.

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16

Spithoven, Antoon. "Similarities and Dissimilarities between Original Institutional Economics and New Institutional Economics." Journal of Economic Issues 53, no. 2 (April 3, 2019): 440–47. http://dx.doi.org/10.1080/00213624.2019.1594532.

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17

Weiermair, Klaus. "On the Economics of Institutional Change: An Institutional Change in Economics?" Journal of Economic Issues 20, no. 2 (June 1986): 571–82. http://dx.doi.org/10.1080/00213624.1986.11504528.

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18

Ozhelevskaya, T. "ECONOMICS AND ECONOMIC REALITY OF UKRAINE: INSTITUTIONAL TRAP." Ekonomika ta derzhava, no. 8 (August 26, 2021): 98. http://dx.doi.org/10.32702/2306-6806.2021.8.98.

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19

Legiedz, Tomasz. "Economic policy for development and the new institutional economics." Catallaxy 5, no. 2 (December 31, 2020): 61–73. http://dx.doi.org/10.24136/cxy.2020.006.

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Motivation: Economists have increasingly emphasized the importance of institutions as a fundamental factor for economic development. However, too frequently institutional approach used in economics is simplified, both from the starting point in defining an institution and during the analysis itself. Aim: The aim of this article is to summarise the current state of knowledge on the use of the institutional perspective in the research on the economic development of developing countries. Materials and methods: The analysis is conducted from the perspective of the new institutional economics. The article uses the qualitative analysis method that includes a literature review and descriptive analysis. Results: The first part briefly describes the contribution of the new institutional economics to the research on the economic development. The second part demonstrates how the institutional perspective is used in the mainstream economics, while the third, how it is used in the development economics. Although the contribution of the new institutional economics to the development theory is significant, in practice, it is very difficult to provide clear guidelines for development policy. This is the reason why there is a huge difference between researching economic development in the spirit of the new institutional economics and how institutions are implemented in the mainstream and development economics.

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20

Breimyer, Harold F. "Institutional Economics Revisited: Discussion." American Journal of Agricultural Economics 75, no. 3 (August 1993): 835–36. http://dx.doi.org/10.2307/1243603.

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21

Bromley, Daniel W. "Institutional Economics Revisited: Discussion." American Journal of Agricultural Economics 75, no. 3 (August 1993): 837–39. http://dx.doi.org/10.2307/1243604.

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22

Doğan Çalışkan, Zehra. "Institutional economics and poverty." International Journal of Social Sciences and Education Research 2, no. 4 (October 1, 2016): 1171–87. http://dx.doi.org/10.24289/ijsser.278993.

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23

Hodgson, Geoffrey M. "Frontiers of Institutional Economics." New Political Economy 6, no. 2 (July 2001): 245–53. http://dx.doi.org/10.1080/13563460123448.

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24

Hodgson, Geoffrey M. "Darwinism and Institutional Economics." Journal of Economic Issues 37, no. 1 (March 2003): 85–97. http://dx.doi.org/10.1080/00213624.2003.11506557.

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25

Volchik, Vyacheslav V. "Narrative and Institutional Economics." Journal of Institutional Studies 9, no. 4 (December 25, 2017): 132–43. http://dx.doi.org/10.17835/2076-6297.2017.9.4.132-143.

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26

Sheaff, Rod. "The New Institutional Economics." Public Management: An International Journal of Research and Theory 2, no. 4 (December 2000): 441–56. http://dx.doi.org/10.1080/14719030000000027.

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27

Hamilton, David B. "Institutional Economics and Consumption." Journal of Economic Issues 21, no. 4 (September 1987): 1531–54. http://dx.doi.org/10.1080/00213624.1987.11504714.

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28

Richter, Rudolf. "Whither ‘New Institutional Economics’?" European Business Organization Law Review 17, no. 4 (November 28, 2016): 541–54. http://dx.doi.org/10.1007/s40804-016-0057-8.

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29

Schmid, A. Allan. "Institutional law and economics." European Journal of Law and Economics 1, no. 1 (March 1994): 33–51. http://dx.doi.org/10.1007/bf01540990.

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30

PEREIRA, ADRIANO JOSÉ, and HERTON CASTIGLIONI LOPES. "The market for the “old” and the “new” institutional economics." Brazilian Journal of Political Economy 38, no. 3 (September 2018): 450–68. http://dx.doi.org/10.1590/0101-35172018-2774.

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ABSTRACT This paper conceives of the market as an institution, and contrasts two theoretical approaches: Institutionalism, with an evolutionary and analytical bias, whose theoretical basis comes from “Old/Original” Institutionalism, and New Institutional Economics, with an analytical, contractual approach, linked to mainstream economics. Both approaches have given relevant contributions, as they consider the importance of institutions for economic performance. The limits of New Institutional Economics are particularly relevant, whose analysis of the operation of markets is centered on the logic of transaction cost economics as a determinant of economic performance. Evolutionary Institutionalism, in turn, sees the market within a broader scope, in which cost economies only partially explains economic performance, but it is not necessarily seen as a determining factor.

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31

Patomäki, Joel. "Continental Thought in Institutional Economics." International Journal of Arts, Humanities & Social Science 04, no. 11 (November 12, 2023): 8–15. http://dx.doi.org/10.56734/ijahss.v4n11a2.

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I will research some branches of continental thought in institutional economics. I will start with John Searle’s idea of social causation as collective intentionality and (according to my understanding) even more important notion of a background. I will take a continental neo-materialist and economic approach to the subject. I will also read Slavoj Zizek as neo-material economics in continental philosophical way. Furthermore, I will compare Searle’s notions of collective intentionality and the background of the social to Maurizio Ferraris’ notions of text as a replacement for collective intentionality. The problems that Ferraris addresses are understood here in terms of practices. This reading will make space for neo-material developments of economic theory as social theory. I will not directly address Alain Badiou’s neocommunism but will take some notions from neocommunism in general.

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32

Hamilton, David. "Is Institutional Economics Really’Root and Branch’ Economics?" Journal of Economic Issues 25, no. 1 (March 1991): 179–86. http://dx.doi.org/10.1080/00213624.1991.11505135.

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33

Onur, ÖZSOY. "THE PLACE OF INSTITUTIONAL ECONOMICS* IN ECONOMICS**." Ankara Üniversitesi SBF Dergisi 53, no. 1 (1998): 1. http://dx.doi.org/10.1501/sbfder_0000001954.

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34

Chau, An Quoc. "Theory of institutions by the New Institutional Economics and institutional economic reforms in Vietnam." Science & Technology Development Journal - Economics - Law and Management 1, Q5 (November 27, 2018): 5–15. http://dx.doi.org/10.32508/stdjelm.v1iq5.485.

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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.

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35

Acs, Zoltan, Saul Estrin, Tomasz Marek Mickiewicz, and László Szerb. "Entrepreneurship, Institutional Economics and Economic Growth: A Systems Perspective." Academy of Management Proceedings 2018, no. 1 (August 2018): 12774. http://dx.doi.org/10.5465/ambpp.2018.12774abstract.

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36

Velthuis, By Olav. "The Changing Relationship Between Economic Sociology and Institutional Economics." American Journal of Economics and Sociology 58, no. 4 (October 1999): 629–49. http://dx.doi.org/10.1111/j.1536-7150.1999.tb03387.x.

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37

Bromley, D. W. "Institutional Economics and Economic Organisation Theory: An Integrated Approach." European Review of Agricultural Economics 36, no. 2 (June 1, 2009): 281–83. http://dx.doi.org/10.1093/erae/jbp015.

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38

Acs, Zoltan J., Saul Estrin, Tomasz Mickiewicz, and László Szerb. "Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective." Small Business Economics 51, no. 2 (March 6, 2018): 501–14. http://dx.doi.org/10.1007/s11187-018-0013-9.

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39

Рогожин, S. Rogozhin, Сазанова, and S. Sazanova. "Intellectual Property Rights: Institutional Approach." Administration 4, no. 1 (March 17, 2016): 74–78. http://dx.doi.org/10.12737/18796.

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The authors consider the intellectual property rights from two points of view: legal theory and institutional economical theory. Contents of “intellectual property” and “intellectual rights” concepts have been revealed in this paper, and the necessity of their study has been justified not only from the legal point of view, but also from the economic one. The authors emphasize that the institutional economics in general and the economic theory of property rights, in particular, have a great potential in the study both of theoretical and practical aspects related to intellectual rights. According to the authors, it is the institutional approach which will create an effective legislation in this area.

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40

Fjałkowski, Karol. "Dydaktyczne znaczenie ekonomii instytucjonalnej, jako nurtu ukazującego rolę moralności w życiu gospodarczym." Annales. Etyka w Życiu Gospodarczym 12, no. 2 (May 15, 2009): 91–100. http://dx.doi.org/10.18778/1899-2226.12.2.08.

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In the paper a thesis is stated that institutional economics presents considerable support for business ethics teaching. The assumptions of main-stream economics eliminated the problems of morality in economic life. The dominance of neo-classical economics in economic studies curricula contributes to the social opinion that business is deprived of moral dimensions. From this point of view, it is argued that business ethicists should be more interested in institutional economics. Some institutionalists see economics close to social moral philosophy and claim that a normative approach in economics is natural and necessary. The questions of aims and economic morality are integral parts of many institutional research agendas. Especially the New Institutional Economics has developed tools that enable formalization and empirical verification of theories of morality in business. Institutional economics enriches the theoretical and empirical context of business ethics teaching.

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41

Vaupot, Zoran. "New Institutional Economics and FDI Determinants." Res novae: revija za celovito znanost 6, no. 2 (December 2021): 123–51. http://dx.doi.org/10.62983/rn2865.212.5.

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The institutional reforms in many countries since the 1990s were introduced to attract more inward foreign direct investments (FDI). The findings of institutional theory and its economic application within the concept of the new institutional economics have confirmed its benefits as a valuable framework in analyzing the FDI determinants and for supporting the creation of the appropriate economic policies. After evaluating the theoretical concepts of institutional theory, new institutional economics and selected empirical research on the role of institutions as FDI determinants, we conclude by focusing on three research areas and related improvements that deserve additional attention from interested scholars. These are: introducing and generalizing the use of governance indicators at the regional level, better understanding the impact, and strengthening the importance of informal institutional variables in empirical models of FDI flows and emphasizing sectoral analysis of FDI determinants.

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42

Rafiqui, P. S. "Evolving economic landscapes: why new institutional economics matters for economic geography." Journal of Economic Geography 9, no. 3 (December 3, 2008): 329–53. http://dx.doi.org/10.1093/jeg/lbn050.

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43

Tambovtsev, V. L. "Is unified institutional economics possible?" Voprosy Ekonomiki, no. 1 (January 12, 2021): 33–51. http://dx.doi.org/10.32609/0042-8736-2021-1-33-51.

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In recent years, some papers were published with the aim to integrate the original institutional economics and new institutional economics. This paper considers the possibility to solve this problem. To do this, it has analyzed four tasks: firstly, how do the original institutionalists characterize their scientific program specificity; secondly, how do the original institutionalists criticize new institutional economics; thirdly, what do they mean by the integration of original institutional economics and new institutional economics, that they have been observing since the 1990s and fourthly, what do they propose as a integration program. The analysis showed that the explicit methodology of original institutionalism, in fact, attributes to it characteristics, which are very close to the properties of “folk theory”. New institutional economics’ criticism is often based on the distorted interpretations of this scientific research program. The authors typically understand as the institutionalisms’ similarity the facts of the new institutionalism development by Douglass North, who used the data of the empirical behavioral research, but not the claims of original institutionalism. The method of integration proposed in the literature presupposes the adoption of the old institutionalism methodology by the new institutionalism, which could drastically reduce the quality of its research. The paper concludes that under present-day conditions, it is practically impossible to create a unified institutional economics.

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44

Augusto, Cleiciele Albuquerque, José Paulo Souza, and Silvio Antonio Ferraz Cario. "New Institutional Economics: Complementary Aspects." Revista Ibero-Americana de Estratégia 13, no. 1 (March 1, 2014): 93–108. http://dx.doi.org/10.5585/ijsm.v13i1.2036.

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The purpose of this article was to understand how the theoretical assumptions of the micro analytical level of New Institutional Economics (NIE), encompassing the Resource-Based View (RBV), the Transaction Cost Economics (TCE), and associated to the Economic Costs Measurement (ECM), might influence the choice of governance structures of companies. The method used was a literature review and descriptive research. Parallel to these theories, the RBV approach was chosen in order to discuss the relationship with the boundaries of the firm, and to identify the complementary aspects between these theoretical issues. The results showed that, when these approaches are considered together, it is evident that the possession and maintenance of strategic resources (VBR) characterizes property rights that need to be protected by legal mechanisms (ECT and ECM), able to minimize their loss of value, and secure property rights. Ultimately, the sustainability of a competitive advantage will be through structures that consider the presence of specific assets (ECT), measurability (ECM), and condition for competitiveness (VBR).

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45

Nikitin, Anton P. "Analytical philosophy and institutional economics." Vestnik Tomskogo gosudarstvennogo universiteta. Filosofiya. Sotsiologiya. Politologiya, no. 41 (March 1, 2018): 24–31. http://dx.doi.org/10.17223/1998863x/41/3.

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46

Shiller, Robert J. "Behavioral Economics and Institutional Innovation." Southern Economic Journal 72, no. 2 (October 1, 2005): 268. http://dx.doi.org/10.2307/20062111.

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47

Kurysheva, Anna. "INSTITUTIONAL ECONOMICS: ADOPTING PRAGMATIST APPROACH." Theoretical Economics, no. 1 (2022): 89–101. http://dx.doi.org/10.52342/2587-7666vte_2022_1_89_101.

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48

Silvestri, Paolo, and Stefan Kesting. "An Institutional Economics of Gift?" Journal of Economic Issues 55, no. 4 (October 2, 2021): 954–76. http://dx.doi.org/10.1080/00213624.2021.1982345.

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49

Shiller, Robert J. "Behavioral Economics and Institutional Innovation." Southern Economic Journal 72, no. 2 (October 2005): 269–83. http://dx.doi.org/10.1002/j.2325-8012.2005.tb00702.x.

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50

Paarlberg, Don. "The Case for Institutional Economics." American Journal of Agricultural Economics 75, no. 3 (August 1993): 823–27. http://dx.doi.org/10.2307/1243601.

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