Abstract
Transformation is one of the most complex forms of institutional change: It affects the whole economic order and will succeed only if other elements of the socio-economic system adapt or are changed at the same time. As long as we know so little, as we in fact do, about its more simple forms like mechanism design, the decision for deregulation or privatization, or the formation of corporate organizations and public agencies, one should start with the elementary. In order to understand the transformation process in its functional and sequential interdependencies, the theory of the economic system and the theory of institutional change seem to be relevant starting points.
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Wagener, HJ. (1993). Some Theory of Systemic Change and Transformation. In: Wagener, HJ. (eds) On the Theory and Policy of Systemic Change. Studies in Contemporary Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-99768-6_1
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DOI: https://doi.org/10.1007/978-3-642-99768-6_1
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