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Author : Douglass Cecil North
Publisher : Ics Press
Page : 32 pages
File Size : 42,8 Mb
Release : 1992
Category : Economic development
ISBN : 1558152113
Author : Douglass C. North
Publisher : Cambridge University Press
Page : 164 pages
File Size : 40,7 Mb
Release : 1990-10-26
Category : Political Science
ISBN : 0521397340
An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures.
Author : Ashok Chakravarti
Publisher : Edward Elgar Publishing
Page : 257 pages
File Size : 53,7 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781781001417
'This book represents an important next step in the new institutional economics. Using this perspective, it undertakes a thorough re-examination of the problems of development.' – Barry R. Weingast, Stanford University, US 'Institutions, Economic Performance and the Visible Hand is a wide ranging, well-written, and provocative contribution to the study of political and economic organization. Ashok Chakravarti advances arguments and interpretations that are both interesting and, often, controversial. Although I find myself "arguing" with many of them, this is one of the many virtues of the book. I recommend the book to others who have an interest in institutional economics – why it is important, where it has been, and where it is going.' – Oliver E. Williamson, Nobel Laureate in Economics, University of California, Berkeley, US 'This is an ambitious and wide-ranging book, which seeks to overthrow the minimalist view of the role of institutions in economic systems contained in the standard economic model, and instead advocates a more active institution-building effort to promote the development of poor countries. This important contribution is to review and consolidate the themes and issues that emerge from a very large literature on the subject of institutions and economic development, and to coherently formulate hypotheses relating institutions to economic performance. This should be useful to a wide range of scholars.' – John Toye, University of Oxford, UK This timely study convincingly argues that it is not resources but the institutions which govern the interaction and decision-making of economic and political agents, that are the key factor in determining the economic performance of nations. The book challenges the conventional wisdom on the determinants of economic performance and provides an alternative vision of the functioning of an economic system. The author provides a structured survey which critically evaluates the theory and evidence of neoclassical approaches to growth and development. He then skillfully integrates insights from the old and new institutional economics into an original and comprehensive vision of the relationship between institutions, growth and economic development. Institutions, Economic Performance and the Visible Hand will be of special interest to academics, financial analysts and commentators, staff of international development agencies and NGOs, researchers and post-graduate students.
Author : Douglass C. North
Publisher : Cambridge University Press
Page : 231 pages
File Size : 46,9 Mb
Release : 1990-10-26
Category : Political Science
ISBN : 9781139642965
Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change. Douglass C. North is Director of the Center of Political Economy and Professor of Economics and History at Washington University in St. Louis. He is a past president of the Economic History Association and Western Economics Association and a Fellow, American Academy of Arts and Sciences. He has written over sixty articles for a variety of journals and is the author of The Rise of the Western World: A New Economic History (CUP, 1973, with R.P. Thomas) and Structure and Change in Economic History (Norton, 1981). Professor North is included in Great Economists Since Keynes edited by M. Blaug (CUP, 1988 paperback ed.)
Author : P. Rao
Publisher : Springer
Page : 197 pages
File Size : 43,8 Mb
Release : 2002-12-03
Category : Business & Economics
ISBN : 9780230597686
In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K.Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.
Author : Oliver E Williamson
Publisher : World Scientific
Page : 220 pages
File Size : 51,8 Mb
Release : 2017-03-24
Category : Business & Economics
ISBN : 9789813202078
This book brings together a collection of seven papers on Transaction Cost Economics by Nobel Laureate Professor Oliver E Williamson. The applications of Transaction Cost Economics are extensive, ranging from the field of industrial organization and applied fields of economics such as labor, public finance, comparative economic systems and economic development, to the business fields of strategy, organizational behavior, marketing, finance, operations management, and accounting. In short, as Williamson states, "any problem that originates as or can be reformulated as a contracting problem can be examined to advantage in transaction cost economizing terms." What is referred to as New Institutional Economics is developed in the West in two mainly complementary ways: Property Rights Theory, and Transaction Cost Economics. Of the two, Property Rights Theory developed more rapidly. Transaction Cost Economics has nonetheless taken shape of late. In China, research on New Institutional Economics began in the 1990s and has grown rapidly since. China has similarly given much more attention to Property Rights Theory. Gengxuan Chen, the editor of this volume, recommends that China will benefit by bringing Transaction Cost Economics to bear. Simultaneously, for scholars who study the market economy, Transaction Cost Economics provides a very attractive way to explain the practice of the Chinese market economy.
Author : Claude Ménard
Publisher : Unknown
Page : 206 pages
File Size : 47,7 Mb
Release : 1997
Category : Business & Economics
ISBN : UOM:39015037499830
This text deals with some of the most fundamental issues of transaction cost economics. It focuses on the analysis of the internal nature and characteristics of organizations and of the subtle interactions between institutional environment and governance structures over time.
Author : John Harriss,Janet Hunter,Colin M. Lewis
Publisher : Psychology Press
Page : 382 pages
File Size : 43,6 Mb
Release : 1995
Category : Business & Economics
ISBN : 0415118239
A major contribution to an area of debate still in its formative phase. It offers new perspectives on both the micro-foundations of economics and the long run dynamics of economic development.
Author : Claude Ménard,Mary M. Shirley
Publisher : Springer Science & Business Media
Page : 875 pages
File Size : 41,5 Mb
Release : 2008-06-27
Category : Business & Economics
ISBN : 9783540693055
New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.
Author : Oliver E. Williamson,Scott E. Masten
Publisher : Edward Elgar Publishing
Page : 572 pages
File Size : 46,6 Mb
Release : 1999
Category : Business & Economics
ISBN : STANFORD:36105022955277
Transaction cost economics began to take shape around 1970 and has since been established as an essential tool used to illuminate a wide range of problems in economics and other social sciences. This reader presents articles which together form the foundations of research in transaction cost economics.
Author : Oliver E. Williamson
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 55,5 Mb
Release : 2013
Category : Industrial organization (Economic theory).
ISBN : 0857938770
Transaction cost economics has and continues to be a fruitful area of research. There is still much to be done in the field with past research being used in conjunction with the vast number of contractual phenomena that have yet to be investigated in transaction cost economics terms. New challenges are posed by the need to move beyond the design of new contractual instruments (such as financial derivatives) to include an examination of the lurking hazards that attend contract implementation.
Author : Tim Yeager
Publisher : Routledge
Page : 184 pages
File Size : 44,7 Mb
Release : 2018-02-07
Category : Political Science
ISBN : 9780429968310
Why are some nations wealthy while others are desperately poor? Despite the rapid advancement of technology and the free flow of information provided by computers, many poor nations are falling further behind the wealthy nations of the world. Why is it that these poorer nations cannot catch up? Until recently, economic theory provided limited help in answering these questions. But the New Institutional Economics, a rapidly growing body of economic theory, may provide the answers. Timothy Yeager's Institutions, Transition Economies, and Economic Development clearly explains the New Institutional Economics, and applies its tenets to the transition economies of Poland and Russia. Readers will gain a perspective on transition and developing economies that has never been explored before in a single book.
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
Page : 294 pages
File Size : 52,6 Mb
Release : 2024-02-06
Category : Business & Economics
ISBN : PKEY:6610000525348
What is Transaction Cost When it comes to economics and other related fields, a transaction cost is a cost that is incurred when engaging in any kind of economic trade involving participation in a market. Oliver E. Williamson's article titled "Transaction Cost Economics," which was released in 2008, is credited with popularizing the concept of transaction costs. In 1931, the institutional economist John R. Commons presented the idea that transactions serve as the foundation for economic thinking. Douglass C. North contends that the establishment of institutions, which can be seen as the laws that govern a society, is an essential component in the process of determining transaction costs. When seen in this light, institutions that permit minimal transaction costs contribute to the expansion of the economy. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Transaction cost Chapter 2: Ronald Coase Chapter 3: Environmental economics Chapter 4: Free-rider problem Chapter 5: Externality Chapter 6: Market failure Chapter 7: The Nature of the Firm Chapter 8: Oliver E. Williamson Chapter 9: Coase theorem Chapter 10: Social cost Chapter 11: Theory of the firm Chapter 12: Hold-up problem Chapter 13: Price mechanism Chapter 14: Steven N. S. Cheung Chapter 15: New institutional economics Chapter 16: Market (economics) Chapter 17: Bilateral monopoly Chapter 18: Property rights (economics) Chapter 19: Yoram Barzel Chapter 20: The Problem of Social Cost Chapter 21: Market governance mechanism (II) Answering the public top questions about transaction cost. (III) Real world examples for the usage of transaction cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Transaction Cost.
Author : R. Maria Saleth,Ariel Dinar
Publisher : World Bank Publications
Page : 418 pages
File Size : 54,5 Mb
Release : 2004-01-01
Category : Nature
ISBN : 0821356569
This publication examines issues of water sector reform and performance from the perspectives of institutional economics and political economic studies. The authors develop an alternative quantitative assessment methodology based on the principle of 'institutional ecology', as well as data collected from 127 water experts from 43 countries and regions around the world using a cross-country review of recent water sector reforms within an institutional transaction cost framework.
Author : Douglass Cecil North
Publisher : Unu/Wider
Page : 36 pages
File Size : 48,9 Mb
Release : 1997
Category : Europe, Eastern
ISBN : WISC:89072759129