Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Institutional Economics

  • Ringa RaudlaEmail author
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_56


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.

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© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.Faculty of Social Sciences, Ragnar Nurkse School of Innovation and GovernanceTallinn University of TechnologyTallinnEstonia