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New Institutional Economics (new + institutional_economics)
Selected AbstractsTHE NEW INSTITUTIONAL ECONOMICS , A DIFFERENT APPROACH TO ECONOMIC ANALYSISECONOMIC AFFAIRS, Issue 3 2008Eirik G. Furubotn The initial objective of the paper is to describe the way in which the term ,New Institutional Economics' (NIE) emerged in the literature and became the designation for a new field concerned with the study of various analytical techniques designed for the exploration of institutional phenomena. It is then shown how some of the more important of these techniques, transaction-cost economics, property-rights analysis and contract theory, have been applied in two central lines of neoinstitutional thought , the Williamsonian and the Northian. Criticisms of these two disparate theoretical positions on the NIE are considered and assessed. Next, a brief review of some of the empirical literature is undertaken so that the explanatory powers of NIE themes can be gauged. Finally, the paper offers a few general remarks on the present state of the NIE and its possible influence on the further development of economics. [source] New Institutional Economics' contribution to strategic groups analysisMANAGERIAL AND DECISION ECONOMICS, Issue 3 2007Stephane Tywoniak Rather than consider the two broad strands of strategic group research,performance-based and behavior-based studies,as competing approaches, we argue that they relate to complementary levels of analysis. We present a four-level framework for analyzing structures within industries drawn from New Institutional Economics (NIE) which covers different approaches to strategic group formation from institutional isomorphism and embeddedness through to the firm-level effects of certain resource deployments. We apply an institutional approach to a case study of the Australian banking industry and supplement this with a quantitative approach based around key strategic variables. This analysis suggests that distinct groups have emerged due to the institutional environment and the different regulatory environments experienced by various banks in the industry. Copyright © 2007 John Wiley & Sons, Ltd. [source] THE NEW INSTITUTIONAL ECONOMICS , A DIFFERENT APPROACH TO ECONOMIC ANALYSISECONOMIC AFFAIRS, Issue 3 2008Eirik G. Furubotn The initial objective of the paper is to describe the way in which the term ,New Institutional Economics' (NIE) emerged in the literature and became the designation for a new field concerned with the study of various analytical techniques designed for the exploration of institutional phenomena. It is then shown how some of the more important of these techniques, transaction-cost economics, property-rights analysis and contract theory, have been applied in two central lines of neoinstitutional thought , the Williamsonian and the Northian. Criticisms of these two disparate theoretical positions on the NIE are considered and assessed. Next, a brief review of some of the empirical literature is undertaken so that the explanatory powers of NIE themes can be gauged. Finally, the paper offers a few general remarks on the present state of the NIE and its possible influence on the further development of economics. [source] A Development Delivery Institution for the Tribal Communities: Experience of the National Rural Employment Guarantee Scheme in IndiaDEVELOPMENT POLICY REVIEW, Issue 4 2010Pulak Mishra This article examines the varied impacts of the National Rural Employment Guarantee Scheme (NREGS) as a development delivery institution for the tribal communities vis-à-vis other social groups across the Indian States, using the framework of new institutional economics. A number of State-specific, socio-economic institutional factors seem to be responsible for these variations. The article therefore suggests institutional reforms and convergence of the development initiatives of the Ministry of Tribal Affairs with the NREGS in order to realise the optimal potential of the scheme, and, in particular, to ensure greater livelihood opportunities for these marginalised groups and their entitlement to productive resources with greater socio-economic and political empowerment. [source] Producing a Modern Agricultural Frontier: Firms and Cooperatives in Eastern Mato Grosso, BrazilECONOMIC GEOGRAPHY, Issue 3 2006Wendy Jepson Abstract: In economic geography, explanations of emerging agricultural frontier regions are dominated by two theoretical perspectives: land-rent theory and political economy. This article advances current research by applying concepts from new institutional economics to reconcile these models. Drawing from a case of frontier expansion in eastern Mato Grosso state, I focus the debate on an institutional perspective. Two organizations, a colonization firm and an agricultural cooperative, are examined. The combined activities of cooperatives and firms reduced the overall costs of production in regions that are defined by high transactions costs (for example, land-tenure insecurity, poor links to the market, and imperfect information) and risk. Each organization linked individual farmers to necessary resources for commercial farming (for instance, land, capital, technology, and markets) and provided an organizational context for farmers to respond to land-tenure conflict and land degradation. The consequence was an increase in the marginal productivity of land, which translated into an expanded commercial agricultural frontier. [source] Incomplete Contracting, Commission Discretion and the Origins of EU Merger Control,JCMS: JOURNAL OF COMMON MARKET STUDIES, Issue 3 2009THOMAS DOLEYS Council Regulation 4064/89 on the Control of Concentration between Undertakings, more commonly known as the Merger Regulation , was a watershed development in the evolution of the EU's competition policy regime. In this article we seek to cast new analytical light on what, in many respects, is an established narrative. To do this we draw on insights from the new institutional economics (NIE). Specifically, we draw on the complementary concepts of incomplete contracting and delegation. We demonstrate how the Commission utilized the discretion attendant to its delegated authority to interpret and apply the indeterminate language of treaty competition articles so as to alter the economic, political and legal environment as it pertained to merger activity. It did so to such an extent that Member States, long resistant to Commission proposals for a merger control regulation, came to regard legislative action as preferable to the uncertainty represented by the evolving status quo. [source] A Survey of the Theoretical Economic Literature on Foreign AidASIAN-PACIFIC ECONOMIC LITERATURE, Issue 1 2006Elisabeth Paul This paper surveys the theoretical economic literature on foreign aid,in particular, the aid donor,recipient relationship. Economic theory, especially new institutional economics, can be very helpful in understanding foreign aid relationships,especially the incentive problems involved,and in designing institutions to improve aid effectiveness. In particular, it helps in understanding the chain of principal,agent relations inherent in the aid delivery system and the resulting potential for agency problems. The survey shows that economic theory can improve the design of cooperation modalities by aligning the incentives of donors and recipients for poverty reduction, but that, in order to address the problems, policy analysis must take into account the constraints faced by stakeholders in the aid relationship. The aid ,contract' should thus seek to improve the agents' incentives to use aid effectively, given the circumstances of the developing country. [source] | |||||||||||||