Institutions, Institutional Change and Economic Performance (Political Economy of Institutions and Decisions)
| Author | : | |
| Rating | : | 4.84 (500 Votes) |
| Asin | : | 0521397340 |
| Format Type | : | paperback |
| Number of Pages | : | 159 Pages |
| Publish Date | : | 2013-04-18 |
| Language | : | English |
DESCRIPTION:
Srinivasan, Yale University"North here draws upon the literature concerning the formation of economic institutionsto ask significant questions about differences among economies across time and spaceThis is an exciting and stimulating work, and one that will leave its mark upon the work of economic historians. It will also be important for political scientists and other social scientists, to learn the message and relevance of an influential strain of non-mainstream economic thinking." Stanley Engerman, University of Rochester"In a careful but wide-ranging analysis grounded in rational-choice theory, he stresses the ways in which institutional arrangements, once adopted, may lea
Douglass C. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. Professor North is included in Great Economists Since Keynes edited by M. He is a past president of the Economic History Association and Western Economics Association and a Fellow, American Academy of Arts and Sciences. North first explores the nature of institutions and explains the role of transaction and production costs in their development. He indicates how institutional analysis must be incorporated into neo-classical theory and
Economics goes back to common sense and history This is the great founding book in systematic and specific study of institutions as a determinant factor in the economic performance of a nation (or any other kind of polity). The author is a Nobel prize winner, and his book is characterized by an economy of words, as well as precission and clarity in his thought. Although it would seem obvious that institutions play a decisive role in economic performance, it hasn't been the case along the history of economic thinking. North begins by criticizing the cold and abstract Neo-Classical model, a la Robert Solow. Yes in fact, output is the result of the conjunction between capital and lab. Carlos Alborta said Interesting and motivating for further development in institutional theory. This book, in my opinion, it is a must for sociology, economics and political science students at undergraduate level, or, perhaps, at postgraduate level. It does require " pre reading" in order to understand it first go. Neo classical economics helps as well as world history notions to embark on it and enjoy reading it. It certainly is great reading out of the novelty in institutional theory. I liked it but I reckon it may not be an easy ride on the way for unprepared readers. This theory will call the shots for decades to come. Excellent choice.. Arnold said Abstract institutions. I am a political science student and am used to the literature, but even I have to say this book gets pretty abstract. North makes some interesting points, but I feel it could have used a bit more focus. I felt like the chapters wandered and I never got the full impact of what he was trying to say. I was surprised because North's journal articles tend to be so insightful and focused. The book is probably worth reading once for institutionalist scholars as it does make the important point that transactions costs and other barriers prevent institutional change that might otherwise be efficient. However, the book could have made that po
Olin Professor in Arts and Sciences at Washington University in St. He is author of eleven books, including Institutions, Institutional Change, and Economic Performance (1990), Understanding the Process of Economic Change (2005), and co-author, with John Joseph Wallis and Barry R. He is Spencer T. . Louis and Bartlett Burnap Senior Fellow at