Institutional Dynamics and Economic Development in Greece: An Acemoglian Approach
TLDR
In this paper, a new theoretical perception of the developmental process of the Greek socio-economic system is proposed, based on the ACEMoglian approach, and the authors describe and recommend the development and underdevelopment process in terms of an "institutionally adaptive socioeconomic system" and a "competitiveness web".Abstract:
The evolution of institutions is a theoretical field of increasing interest today. Socio-economic development in the institutional approach results mainly from the historical unfolding and quality of institutions. This paper aims to highlight Daron Acemoglu’s institutional approach, which appears to be gaining prominence gradually, and propose a new theoretical perception of the developmental process of the Greek socio-economic system. It first analyses Acemoglu’s theoretical contribution, it then compares the ‘Acemoglian’ to other approaches and suggests that the analysis of inclusive and extractive institutions based on historically-significant virtuous and vicious circles has value for the Greek case. While several studies tend to focus on the macroeconomic and macro-financial symptoms of the Greek crisis, an evolutionary approach of the deeper institutional dynamics seems to offer a required reposition. We describe and recommend the development and underdevelopment process in terms of an ‘institutionally adaptive socio-economic system’ and ‘competitiveness web’. These findings indicate that development takes place over historically-significant periods, through complex processes of selection and diffusion of institutional restructurings, and that civil societies are responsible for the political forces who represent them, at least in democratic regimes. In the case of Greece, the proposal to utilise an approach of an ‘institutionally adaptive socio-economic system’ can give a repositioned theoretical perception, especially nowadays when the institutional and evolutionary socio-economic analytical classes seem to be gaining interest and prominence.read more
Citations
More filters
Journal Article
The European commission
TL;DR: This research examines the interaction between demand and socioeconomic attributes through Mixed Logit models and the state of art in the field of automatic transport systems in the CityMobil project.
Post-Keynesian Economics
Mükerrem Hiç,Özlen Hiç Birol +1 more
TL;DR: In this article, the authors discuss the role of the post-Keyns-style economy in the development of the modern world economy, and present a model of the Post-Keynes-style economic model.
Journal ArticleDOI
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
TL;DR: Why Nations Fail: The Origins of Power, Prosperity, and Poverty by Daron Acemoglu and James A Robinson Profile Books, 2012 ACEmoglu, a professor of Economics at MIT, and Robinson, a Professor of Gover...
Posted Content
Business Ecosystems Policy in Stra.Tech.Man Terms: The Case of the Eastern Macedonia and Thrace Region
TL;DR: In this paper, the authors apply and extend the Stra.Tech.Man approach to entrepreneurial dynamics as an alternative base of articulating a business ecosystems development policy in the case of the Eastern Macedonia and Thrace region, one of the less developed regions in Greece.
Journal ArticleDOI
Evolutionary Economics and the Stra.Tech.Man Approach of the Firm into Globalization Dynamics
TL;DR: In this article, the authors examine whether the Stra.Tech.Man approach (Vlados, 2004) fulfills the requirements to be an analysis of evolutionary direction, in particular, by examining the theoretical foundations of evolutionary economics and the subsequent evolutionary theorization of the firm that stems analytically from evolutionary economics.
References
More filters
Book
The competitive advantage of nations
TL;DR: The Need for a New Paradigm as discussed by the authors is the need for a new paradigm for the competitive advantage of companies in global industries, as well as the dynamics of national competitive advantage.
Journal Article
The European commission
TL;DR: This research examines the interaction between demand and socioeconomic attributes through Mixed Logit models and the state of art in the field of automatic transport systems in the CityMobil project.
Book
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
Daron Acemoglu,James A. Robinson +1 more
TL;DR: Acemoglu and Robinson as discussed by the authors argue that incentives and institutions are what separate the have and have-nots, and that if they work hard, they can make money and actually keep it, the key to ensuring these incentives is sound institutions.
Journal ArticleDOI
A Theory of Political Transitions
Daron Acemoglu,James A. Robinson +1 more
TL;DR: This paper developed a theory of political transitions inspired in part by the experiences of Western Europe and Latin America and showed that the relationship between inequality and redistribution is non-monotonic; societies with intermediate levels of inequality consolidate democracy and redistribute more than both very equal and very unequal countries.
Posted Content
Democracy Does Cause Growth
TL;DR: In this article, the authors provide evidence that democracy has a significant and robust positive effect on GDP per capita, and they use a dynamic panel model for GDP, and show that democratizations increase GDP by about 20% in the long run.