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Institutions, Institutional Change, and Economic Performance
Douglass C. North,John Alt +1 more
TLDR
In this article, the authors examine the role that institutions, defined as the humanly devised constraints that shape human interaction, play in economic performance and how those institutions change and how a model of dynamic institutions explains the differential performance of economies through time.Abstract:
Examines the role that institutions, defined as the humanly devised constraints that shape human interaction, play in economic performance and how those institutions change and how a model of dynamic institutions explains the differential performance of economies through time. Institutions are separate from organizations, which are assemblages of people directed to strategically operating within institutional constraints. Institutions affect the economy by influencing, together with technology, transaction and production costs. They do this by reducing uncertainty in human interaction, albeit not always efficiently. Entrepreneurs accomplish incremental changes in institutions by perceiving opportunities to do better through altering the institutional framework of political and economic organizations. Importantly, the ability to perceive these opportunities depends on both the completeness of information and the mental constructs used to process that information. Thus, institutions and entrepreneurs stand in a symbiotic relationship where each gives feedback to the other. Neoclassical economics suggests that inefficient institutions ought to be rapidly replaced. This symbiotic relationship helps explain why this theoretical consequence is often not observed: while this relationship allows growth, it also allows inefficient institutions to persist. The author identifies changes in relative prices and prevailing ideas as the source of institutional alterations. Transaction costs, however, may keep relative price changes from being fully exploited. Transaction costs are influenced by institutions and institutional development is accordingly path-dependent. (CAR)read more
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Being Israeli: The Dynamics of Multiple Citizenship
Gershon Shafir,Yoav Peled +1 more
TL;DR: The frontier within: Palestinians as second-class citizens as discussed by the authors and the wages of legitimation: Zionist and non-Zionist Orthodox Jews Part II. The frontier erupts: the Intitfadas Part III. Conclusion.
Book ChapterDOI
An Eclectic Theory of Entrepreneurship: Policies, Institutions and Culture
Ingrid Verheul,Sander Wennekers,Sander Wennekers,David B. Audretsch,David B. Audretsch,Roy Thurik,Roy Thurik +6 more
TL;DR: An eclectic theory of entrepreneurship is introduced in this paper, which provides an integrated framework, drawing on disparate strands of literature, to create a better understanding of the different role that entrepreneurship plays in different countries and time periods, to guide future empirical research in this area and to provide insights for policymakers striving to promote entrepreneurship.
Journal ArticleDOI
Fisheries co-management: a comparative analysis☆
TL;DR: In this paper, a review of 22 case studies on fisheries co-management in small-scale, semi-industrial and industrial fisheries in developing and developed countries in Africa, Asia, the Caribbean, Europe, North America and the Pacific is presented.
Journal ArticleDOI
Regional variations in entrepreneurial cognitions: Start-up intentions of university students in Spain
TL;DR: In this article, an entrepreneurial intention model is developed, theoretically based on the planned behaviour approach, institutional economic theory and social capital theory, to identify some of the environmental cognitive elements that may explain regional differences in start-up intentions.
Book
Economic growth in the 1990s : learning from a decade of reform
TL;DR: In this paper, the authors examine the impact of growth of key policy and institutional reforms: macroeconomic stabilization, trade liberalization, deregulation of finance, privatization, deregulatory of utilities, modernization of the public sector with a view to increasing its effectiveness and accountability, and spreading of democracy and decentralization.