Skip to main content
SpringerLink
Log in

Institutional Economics

  • Living reference work entry
  • First Online:
Encyclopedia of Law and Economics

Abstract

Institutional economics is interested in the interactions between institutions and the economy: how institutions influence the functioning, performance, and development of the economy and, in turn, how changes in the economy influence the institutions. Institutional economics studies the impact of institutions on economy, how institutions evolve, and how they could be improved. In furthering institutional economics, more extensive exchanges between the communities of institutional economics and law and economics would be fruitful. Those interested in institutional economics should certainly be more aware of developments in law and economics and utilize these insights in their further research – and vice versa.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution

Institutional subscriptions

References

  • Acemoglu D, Johnson S, Robinson JA (2005) Institutions as a fundamental cause of long-run growth. In: Aghion P, Durlauf SN (eds) Handbook of economic growth, vol 1A. Elsevier, Amsterdam, pp 385–472

    Google Scholar 

  • Chang H-J (ed) (2007) Institutional change and economic development. United Nations University Press, Tokyo

    Google Scholar 

  • Coase RH (1960) The problem of social cost. J Law Econ 3:1–44

    Article  Google Scholar 

  • Commons JR (1924) Legal foundations of capitalism. Macmillan, New York

    Google Scholar 

  • Dequech D (2002) The demarcation between the “old” and the “new” institutional economics: recent complications. J Econ Issues 36(2):565–572

    Google Scholar 

  • Eggertsson T (1990) Economic behavior and institutions: principles of neoinstitutional economics. Cambridge University Press, Cambridge

    Book  Google Scholar 

  • Evans P, Rauch JE (1999) Bureaucracy and growth: a cross-national analysis of the effects of “Weberian” state structures on economic growth. Am Sociol Rev 65(5):748–765

    Article  Google Scholar 

  • Freeman C, Perez C (1988) Structural crises of adjustment, business cycles, and investment behavior. In: Dosi G (ed) Technical change and economic theory. Pinter Press, London, pp 38–66

    Google Scholar 

  • Furubotn EG, Richter R (1997) Institutions and economic theory: the contribution of the new institutional economics. The University of Michican Press, Ann Arbor

    Google Scholar 

  • Hodgson GM (1988) Economics and institutions: a manifesto for a modern institutional economics. University of Pennsylvania Press, Philadelphia

    Google Scholar 

  • Hodgson GM (1998) The approach of institutional economics. J Econ Lit 36(1):166–192

    Google Scholar 

  • Hodgson GM (2004) Institutional economics: from Menger and Veblen to Coase and North. In: Davis JB, Marciano A, Runde J. The Elgar companion to economics and philosophy, pp 84–101

    Google Scholar 

  • Kasper W, Streit ME (1998) Institutional economics: social order and public policy. Edward Elgar, Cheltenham

    Google Scholar 

  • Keefer P, Knack S (1997) Why don’t poor countries catch up? A cross-national test of an institutional explanation. Econ Inq 35(3):590–602

    Article  Google Scholar 

  • Medema SG, Mercuro N, Samuels WJ (1999) Institutional law and economics. In: Boukaert B, De Geest G (eds) Encyclopaedia of law and economics. Edward Elgar/The University of Ghent, Cheltenham

    Google Scholar 

  • Nelson RR, Sampat BN (2001) Making sense of institutions as a factor shaping economic performance. Revista Econ Inst 3(5):17–51

    Google Scholar 

  • North DC (1990) Institutions, institutional change and economic performance. Cambridge University Press, Cambridge

    Book  Google Scholar 

  • North DC (1991) Institutions. J Econ Perspect 5(1):97–112

    Article  Google Scholar 

  • Ostrom E (1990) Governing the commons: the evolution of institutions for collective action. University Press, Cambridge

    Book  Google Scholar 

  • Persson T, Tabellini G (2003) Economic effects of constitutions. MIT Press, Cambridge

    Google Scholar 

  • Polanyi K (1944) The great transformation. Rinehart, New York

    Google Scholar 

  • Rodrik D (2000) Institutions for high-quality growth: what they are and how to acquire them. Stud Comp Int Dev 35(3):3–31

    Article  Google Scholar 

  • Rutherford M (1994) Institutions in economics: the old and new institutionalism. Cambridge University Press, Cambridge

    Book  Google Scholar 

  • Sened I (1997) The political institution of private property. Cambridge University Press, Cambridge

    Google Scholar 

  • Veblen TB (1898) Why is economics not an evolutionary science? Q J Econ 12:373–397

    Article  Google Scholar 

  • Wade R (1990) Governing the market: economic theory and the role of government in East Asian industrialization. Princeton University Press, Princeton

    Google Scholar 

  • Weber M ([1904–1911] 1968) Economy and society. Bedminster, New York

    Google Scholar 

  • Williamson OE (2000) The new institutional economics: taking stock, looking ahead. J Econ Lit 38:595–613

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Faculty of Social Sciences, Ragnar Nurkse School of Innovation and Governance, Tallinn University of Technology, Akadeemia 3, 12618, Tallinn, Estonia

    Ringa Raudla

Authors
  1. Ringa Raudla
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Ringa Raudla .

Editor information

Editors and Affiliations

  1. Lehrst. Finanzwissenschaft/ Finanzsoziologie, University of Erfurt, Erfurt, Thüringen, Germany

    Jürgen Backhaus

Rights and permissions

Reprints and permissions

Copyright information

© 2014 Springer Science+Business Media New York

About this entry

Cite this entry

Raudla, R. (2014). Institutional Economics. In: Backhaus, J. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7883-6_56-1

Download citation

  • DOI: https://doi.org/10.1007/978-1-4614-7883-6_56-1

  • Received:

  • Accepted:

  • Published:

  • Publisher Name: Springer, New York, NY

  • Online ISBN: 978-1-4614-7883-6

  • eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences

Publish with us

Policies and ethics

Search

Navigation