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Journal articles on the topic 'New institutional economics'

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Published: 4 June 2021

Last updated: 10 March 2023

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1

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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2

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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3

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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4

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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5

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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6

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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7

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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8

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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9

Hamori, Balazs. "Relevance of New Institutional Economics." Competitio 3, no. 1 (August 27, 2020): 1–4. http://dx.doi.org/10.21845/comp/2004/1/1.

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10

Wendschlag, Mikael. "Handbook of New Institutional Economics." Scandinavian Economic History Review 57, no. 3 (November 2009): 296–98. http://dx.doi.org/10.1080/03585520903122574.

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11

López-Bayón, Susana. "New Institutional Economics. A Guidebook." Cuadernos de Economía y Dirección de la Empresa 12, no. 39 (June 2009): 153–56. http://dx.doi.org/10.1016/s1138-5758(09)70038-6.

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12

Kotliarov, Ivan D. "Cooperatives and New Institutional Economics." Journal of Institutional Studies 11, no. 3 (September 25, 2019): 084–103. http://dx.doi.org/10.17835/2076-6297.2019.11.3.084-103.

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13

Borkowska, Bożena. "New institutional economics in didactics." Studia i Prace WNEiZ 44 (2016): 47–58. http://dx.doi.org/10.18276/sip.2016.44/2-04.

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14

Maucourant, Jérôme. "New Institutional Economics and History." Journal of Economic Issues 46, no. 1 (March 2012): 193–208. http://dx.doi.org/10.2753/jei0021-3624460108.

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15

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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16

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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17

Cameron, John. "Development economics, the New Institutional Economics and NGOs." Third World Quarterly 21, no. 4 (August 2000): 627–35. http://dx.doi.org/10.1080/713701070.

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18

Heidari, Somayeh, Mojtaba Almasi, and Shahram Fatahi. "Theoretical Integration of New Institutional Economics." Journal of Planning and Budgeting 26, no. 4 (March 1, 2022): 155–86. http://dx.doi.org/10.52547/jpbud.26.4.155.

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19

Rees, Ray. "The New Institutional Economics of Education." Journal of Institutional and Theoretical Economics 157, no. 1 (2001): 113. http://dx.doi.org/10.1628/0932456012974738.

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20

Guerdjikova, Ani. "The New Institutional Economics of Markets." Journal of Institutional and Theoretical Economics 163, no. 3 (2007): 517. http://dx.doi.org/10.1628/093245607781871363.

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21

Raskov, D. "Rhetoric of the New Institutional Economics." Voprosy Ekonomiki, no. 5 (May 20, 2010): 81–95. http://dx.doi.org/10.32609/0042-8736-2010-5-81-95.

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The article provides a rhetorical analysis of the New Institutional Economics based on the works of its main representatives - R. Coase, O. Williamson and D. North. The author exposes the specific features of scientific rhetoric characteristic for each of these scientists, reconstructs their biographies and shows, how and why their theories came to be integrated into mainstream economics.

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22

Pagano, Ugo. "Karl Marx after New Institutional Economics." Evolutionary and Institutional Economics Review 4, no. 1 (December 2007): 27–53. http://dx.doi.org/10.14441/eier.4.27.

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23

Obińska-Wajda, Emilia. "The New Institutional Economics-Main Theories." e-Finanse 12, no. 1 (March 1, 2016): 78–85. http://dx.doi.org/10.1515/fiqf-2016-0138.

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AbstractThe aim of this article is to show that the New Institutional Economics is an interdisciplinary stream combining economics, law, organization theory, political sciences, sociology, and anthropology. The main theories which are part of the New Institutional Economics are: Agency Theory, Property Rights Theory and Transaction Costs Theory. The basic assumptions of these theories are mentioned in this paper. This article is an introduction to the New Institutional Economics and its main theories. For this purpose, it presents a brief guide for those who are interested in the New Institutional Economics. Finally, the article is accompanied by a short review of examples of empirical studies connected with these theories.

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24

Ménard, Claude. "Research frontiers of new institutional economics." RAUSP Management Journal 53, no. 1 (January 2018): 3–10. http://dx.doi.org/10.1016/j.rauspm.2017.12.002.

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25

Olson, Wayne P. "Lessons from the New Institutional Economics." Electricity Journal 10, no. 5 (June 1997): 46–60. http://dx.doi.org/10.1016/s1040-6190(97)80529-5.

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26

Menard, Claude. "Methodological issues in new institutional economics." Journal of Economic Methodology 8, no. 1 (January 2001): 85–92. http://dx.doi.org/10.1080/13501780010023243.

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27

Eggertsson, Thráinn. "Quick guide to New Institutional Economics." Journal of Comparative Economics 41, no. 1 (February 2013): 1–5. http://dx.doi.org/10.1016/j.jce.2013.01.002.

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28

Prasetyo, P. Eko, Adryan Setyadharma, and Nurjannah Rahayu Kistanti. "Potential of New Institutional Economics for Rural Community Development." SHS Web of Conferences 86 (2020): 01015. http://dx.doi.org/10.1051/shsconf/20208601015.

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Rural economic inequality is a fundamental problem which makes it important to seek its causes and find its policy solutions immediately. The new institutional economic potential development policy is the right choice. The purpose of this article is to explain more broadly the importance of new institutional economic potential in developing rural communities. Especially, to explain various economic dimensions of new institutions in a comprehensive manner in determining the level of community development. This research method used structured survey that has been well-designed and measured for data collection, variable measurement, and data analysis. Quantitative and qualitative data are gathered by using integrated methods between various disciplines; economics-sociology and economics-geography. Further, to interpretation the data, we used economic and cultural concepts; informal economy, new institutional economics, gravitational economics and cultural anthropology. Then, the method of analysis is path analysis using recrusive form of correlation model with multiple path equation systems. The main research results show that the new institutional economic potential is a key factor in developing rural communities and reducing inequality. Besides, the new institutional economics will encourage economic growth and public welfare

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29

Gunnarsson, Christer. "What is new and what is institutional in the new institutional economics?" Scandinavian Economic History Review 39, no. 1 (January 1991): 43–67. http://dx.doi.org/10.1080/03585522.1991.10408199.

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30

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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31

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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32

Furubotn, Eirik G., and Rudolf Richter. "THE NEW INSTITUTIONAL ECONOMICS - A DIFFERENT APPROACH TO ECONOMIC ANALYSIS." Economic Affairs 28, no. 3 (September 2008): 15–23. http://dx.doi.org/10.1111/j.1468-0270.2008.00839.x.

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33

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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34

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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35

Rutherford, Malcolm. "Institutional Economics: Then and Now." Journal of Economic Perspectives 15, no. 3 (August 1, 2001): 173–94. http://dx.doi.org/10.1257/jep.15.3.173.

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This article gives a history of American institutionalism, and a brief comparison with the more recent “new” institutional economics. Institutionalism was a significant element in American economics between the Wars, but declined rapidly thereafter. The article outlines the movement's initial appeal, its contributions, and the reasons for its decline. Although the “new” institutionalism has few direct ties to the older tradition, some interesting commonalities are found and discussed. Links to the “new institutionalism” in sociology and political science, and to historical work on other “institutional” traditions are also mentioned.

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36

Kozenkow, Judit. "New institutional economics: Foundations and latest trends." Society and Economy 35, no. 1 (August 9, 2011): 87–101. http://dx.doi.org/10.1556/socec.2010.0006.

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37

de Dios, Emmanuel. "What the new institutional economics owes Marx." Philippine Review of Economics 56, no. 1&2 (July 23, 2020): 257–78. http://dx.doi.org/10.37907/13erp9102jd.

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38

Otáhal, Tomáš. "The Agency Problem in New Institutional Economics." Politická ekonomie 57, no. 5 (October 1, 2009): 677–95. http://dx.doi.org/10.18267/j.polek.704.

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39

Gancarczyk, Marta. "Institution and Organisation in New Institutional Economics." Gospodarka Narodowa 176, no. 5-6 (May 25, 2002): 78–94. http://dx.doi.org/10.33119/gn/113844.

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40

Bang, Peter Fibiger. "The Ancient Economy and New Institutional Economics." Journal of Roman Studies 99 (November 2009): 194–206. http://dx.doi.org/10.3815/007543509789744783.

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41

Boettke, Peter J., Christopher J. Coyne, and Peter T. Leeson. "Institutional Stickiness and the New Development Economics." American Journal of Economics and Sociology 67, no. 2 (April 2008): 331–58. http://dx.doi.org/10.1111/j.1536-7150.2008.00573.x.

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42

MAZÉ, ARMELLE. "Standard-setting activities and new institutional economics." Journal of Institutional Economics 13, no. 3 (January 18, 2017): 599–621. http://dx.doi.org/10.1017/s174413741600045x.

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AbstractFrom a New Institutional Economics (NIE) perspective, standards are acknowledged to play a central role in building efficient market infrastructure by defining what is exchanged and reducing the level of transaction and measurement costs. Nevertheless, only a few prior NIE studies have considered standard-setting activities as coordination and governance issuesper se. This article aims to fill this gap by adapting and extending the classical Williamsonian analytical framework to the governance of standard-setting institutions. This analysis is substantiated by empirical data on global private standards in the agricultural sector. Our results highlight the importance of standard selection and the limits to current harmonisation as regards institutional failure to define alternative multilateral governance mechanisms at the international level.

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43

Steiger, Otto. "Property Economics versus New Institutional Economics: Alternative Foundations of How to Trigger Economic Development." Journal of Economic Issues 40, no. 1 (March 2006): 183–208. http://dx.doi.org/10.1080/00213624.2006.11506889.

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44

Steuer, Max, and Richard N. Langlois. "Economics as a Process: Essays in the New Institutional Economics." Economica 55, no. 217 (February 1988): 131. http://dx.doi.org/10.2307/2554255.

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45

Yeager, Timothy. "The new institutional economics and its relevance to social economics." Forum for Social Economics 27, no. 1 (January 1997): 1–17. http://dx.doi.org/10.1007/bf02779067.

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46

Williamson, Oliver E., and Jack J. Vromen. "Economic Evolution: An Enquiry into the Foundations of New Institutional Economics." Economic Journal 106, no. 439 (November 1996): 1791. http://dx.doi.org/10.2307/2235224.

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47

Rutherford, M. "Economic Evolution: An Enquiry into the Foundations of New Institutional Economics." History of Political Economy 32, no. 1 (March 1, 2000): 175–76. http://dx.doi.org/10.1215/00182702-32-1-175.

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48

Mikami, Masahiro. "Evolutionary foundations of Coasean economics: transforming new institutional economics into evolutionary economics." Erasmus Journal for Philosophy and Economics 6, no. 1 (May 20, 2013): 161. http://dx.doi.org/10.23941/ejpe.v6i1.129.

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49

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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50

Ismalina, Poppy. "What Factors Constitute Structures of Clustering Creative Industries? Incorporating New Institutional Economics and New Economic Sociology into A Conceptual Framework." Gadjah Mada International Journal of Business 14, no. 3 (November 27, 2012): 213. http://dx.doi.org/10.22146/gamaijb.5454.

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Creative industries tend to cluster in specific places and the reasons for this phenomenon can be a multiplicity of elements linked mainly to culture, creativity, innovation and local development. In the international literature, it is pretty well recognized that creativity is frequently characterized by the agglomeration of firms so that creative industries are not homogeneously distributed across the territory but they are concentrated in the space. Three theories are becoming the dominant theoretical perspectives in agglomeration economies theory and they are increasingly being applied in industrial clusters analysis to study the effect of clustering industries. The theories are Marshall’s theoretical principles of localization economies, Schmitz’s collective efficiency and Porter’s five-diamond approach. However, those have adequately theorized neither the institutionalization process through which change takes place nor the socio-economic context of the institutional formations of clustering creative industries. This text begins by reviewing three main theories to more fully articulate institutionalization processes of an economic institution. Specifically, this paper incorporates new institutional economics (NIE) and new economic sociology (NES) to explain the processes associated with creating institutional practices within clustering creative industries. Both streams of institutional theory constitute that economic organizations are socially constructed. Next, this text proposes the framework that depicts the socio-economic context better and more directly addresses the dynamics of enacting, embedding and changing organizational features and processes within clustering creative industries. Some pertinent definitions are offered to be used in a conceptual framework of research about how economic institutions like clustering creative industries constitute their structures.

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