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This title in other editions

Other titles in the Political Economy of Institutions and Decisions series:

Institutions, Institutional Change and Economic Performance (Political Economy of Institutions and Decisions)

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Institutions, Institutional Change and Economic Performance (Political Economy of Institutions and Decisions) Cover

 

Synopses & Reviews

Publisher Comments:

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 organizations 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.)

Synopsis:

Explores the nature of institutions and institutional change.

Synopsis:

Continuing his groundbreaking analysis of economic structures, Douglass North here 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 other economies develop institutions that produce stagnation.

Synopsis:

Explores the nature of institutions and institutional change.

Description:

Includes bibliographical references (p. 141-146) and index.

Table of Contents

Part I. Institutions: 1. An introduction to institutions and institutional change; 2. Cooperation: the theoretical problem; 3. The behavioural assumptions in a theory of institutions; 4. A transaction cost theory of exchange; 5. Informal constraints; 6. Formal constraints; 7. Enforcement; 8. Institutions and transaction and transformation costs; Part II. Institutional Change: 9. Organizations, learning, and institutional change; 10. Stability and institutional change; 11. The path of institutional change; Part III. Economic Performance: 12. Institutions, economic theory, and economic performance; 13. Stablity and change in economic history; 14. Incorporating institutional analysis into economic history: prospects and puzzles.

Product Details

ISBN:
9780521397346
Editor:
Calvert, Randall
Editor:
Eggertsson, Thrainn
Editor:
Calvert, Randall
Editor:
Eggertsson, Thrainn
Author:
Calvert, Randall
Author:
North, Douglass C.
Author:
Eggertsson, Thrainn
Publisher:
Cambridge University Press
Location:
Cambridge ;
Subject:
General
Subject:
Economic Development
Subject:
Negotiating
Subject:
Organizational change
Subject:
Economic History
Subject:
Institutional economics
Subject:
Institutional economics Institutional economi
Subject:
Business-Negotiation
Series:
Political Economy of Institutions and Decisions
Series Volume:
45
Publication Date:
19901031
Binding:
TRADE PAPER
Grade Level:
Professional and scholarly
Language:
English
Illustrations:
Yes
Pages:
159
Dimensions:
8.91x5.94x.51 in. .56 lbs.

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Related Subjects

Business » History and Biographies
Business » Negotiation
History and Social Science » Economics » General
History and Social Science » Politics » General

Institutions, Institutional Change and Economic Performance (Political Economy of Institutions and Decisions) New Trade Paper
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$31.75 In Stock
Product details 159 pages Cambridge University Press - English 9780521397346 Reviews:
"Synopsis" by , Explores the nature of institutions and institutional change.
"Synopsis" by , Continuing his groundbreaking analysis of economic structures, Douglass North here 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 other economies develop institutions that produce stagnation.
"Synopsis" by , Explores the nature of institutions and institutional change.
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