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    • Division of Applied Social Sciences (MU)
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    • Agricultural Economics publications (MU)
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    New Institutional Economics

    Klein, Peter G.
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    [PDF] New Institutional Economics.pdf (109.1Kb)
    Date
    2000
    Format
    Book chapter
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    Abstract
    This chapter surveys the new institutional economics, a rapidly growing literature combining economics, law, organization theory, political science, sociology and anthropology to understand social, political and commercial institutions. This literature tries to explain what institutions are, how they arise, what purposes they serve, how they change and how they may be reformed. Following convention, I distinguish between the institutional environment (the background constraints, or 'rules of the game', that guide individuals' behavior) and institutional arrangements (specific guidelines designed by trading partners to facilitate particular exchanges). In both cases, the discussion here focuses on applications, evidence and policy implications.
    URI
    http://hdl.handle.net/10355/161
    Citation
    Encyclopedia of Law and Economics (Cheltenham, U.K.: Edward Elgar, 2000), pp. 456-89.
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    • Agricultural Economics publications (MU)

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