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Institutional Perspectives

(http://faculty.washington.edu/krumme/readings/institutions.html)


"Institutions, together with the standard constraints of economic theory, determine the opportunities in a society. Organizations are created to take advantage of those opportunities, and, as the organizations evolve, they alter the institutions. The resultant path of institutional is shaped by (1) the lock-in that comes from the symbiotic relationship between institutions and the organizations... and (2) the feedback process by which human beings perceive and react to changes in the opportunity set." (D.C.North, Institutions, Institutional Change and Economic Performance. 1990, p.7)


Related Pages:


Internet:


Literature:

Furubotn, Eirik G., and Rudolf Richter, (1991) "The New Institutional Economics: An Assessment," in Eirik G. Furubotn and Rudolf Richter (eds.), The New Institutional Economics: A Collection of Articles from the Journal of Institutional and Theoretical Economics, Tubingen: Mohr (Siebeck), 1-32.

Granovetter, M., "Economic Action and Social Structures: The Problem of Embeddedness," American Journal of Sociology 91 (1985), pp.481-510

Granovetter, M., "Economic Institutions as Social Constructions: A Framework of Analysis," Acta Sociologica, 35 (1993), 3-12.

Hodgson, Geoffrey M., "The Approach of Institutional Economics," Journ. of Economic Literature, 36(1), March 1998, 166ff.

Loasby, Brian. Knowledge, Institutions and Evolution in Economics. Graz Schumpeter Lectures, Routledge 1999.

Martin, Ron. "Institutional Approaches in Economic Geography," in: Sheppard, Eric and Trevor J. Barnes, eds., A companion to economic geography. Oxford, UK ; Malden, Mass. : Blackwell Publishers, 2000 [Chapter 6, pp.77f.] [Suzzallo/Allen Stacks HF1025 .C66 2000]

North, Douglass C., Institutions, Institutional Change and Economic Performance. Cambridge Univ. Press, 1990.

Novy, Andreas, "What about organisations in regional science?" Organisationsbezogene Elemente der Stadt- und Regionalentwicklungstheorie IIR-Discussion Paper 52 [Wien/Vienna]

Painter, Joe. "State and Governance," in: Sheppard, Eric and Trevor J. Barnes, eds., A companion to economic geography. Oxford, UK ; Malden, Mass. : Blackwell Publishers, 2000 [Chapter 22, pp.358] [Suzzallo/Allen Stacks HF1025 .C66 2000]

Scott, W.Richard, "The Adolescence of Institutional Theory," Administrative Science Quarterly, 32, 1987, 493-511.

Williamson, Oliver E., "The New Institutional Economics: Taking Stock, Looking Ahead," Journ. of Economic Literature, 38(3), Sept. 2000, pp.595-613.

Williamson, O.E., The Economic Institutions of Capitalism

Viewing corporations not as production functions but as governance structures, its theory focuses on negotiating, executing, modifying, and renewing the myriad contractual agreements--formal and informal--by which firms seek to economize on the cost of transacting business.


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