Institutional and Organizational Analysis: Concepts and Applications

Abstract : Institutions and norms have increasingly been recognized as fundamental determinants of economic and political development. Institutions are rules that recognized authorities create and enforce. Norms are long-standing patterns of behavior, shared by a subset of people in a society or organization. These factors play a role in all organizations, including governments, firms, churches, universities, gangs, and even families. In this book we: (1) present a set of concepts, for example, institutions, norms, property rights, and transaction costs, used in Institutional and Organizational Analysis (IOA) that link institutions and norms to economic performance; (2) use the same set of concepts to better understand political organizations and performance; and (3) build a framework based on those concepts for understanding divergent developmental trajectories of nations around the world. In Parts I and II, we define the concepts needed to understand how economic activity is organized and how economic and political outcomes are shaped by institutions and norms. In Part III, we add the comparatively recent work on beliefs and leadership to better understand the fundamental question of why there has not been convergence in economic and political performance across countries.

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A Research Agenda for New Institutional Economics

Abstract : This paper summarizes the content of a new book (A Research Agenda for New Institutional Economics, Edward Elgar, 2019) that explores priority issues for future research in new institutional economics. Drawing on a diverse group of authors, most from a newer generation of institutionalists, this Research Agenda consists of 30 brief essays probing issues at the forefront of NIE, including government, contracts, property rights, norms, culture, and beliefs. Essays also examine emerging questions underexplored by NIE, areas where new technology and evolving circumstances raise novel issues, and tools, techniques, and approaches, such as how to measure institutions, use experiments, and exploit big data and machine learning.

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Institutional Economics - an Introduction

Abstract : Why is it that some countries become rich while others remain poor? Do markets require regulation to function efficiently? If markets offer an efficient way of exchanging goods, why do individuals even create firms? How are economic transactions organized in the absence of a state that could enforce contracts and guarantee property rights? Institutional Economics has allowed social scientists to answer many fundamental questions about the organization and functioning of societies. This introduction to Institutional Economics is concise, yet easy to understand. It does not only cater to students of economics but to anybody interested in this topical research area. Both, formal and informal institutions, such as customs, habits, and traditions, are discussed with respect to their causes and consequences as it has become apparent how important they are for economic growth and development

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