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Institutional Economics: Then and Now

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  • Malcolm Rutherford

Abstract

This article gives a history of American institutionalism, and a brief comparison with the more recent "new" institutional economics. Institutionalism was a significant element in American economics between the Wars, but declined rapidly thereafter. The article outlines the movement's initial appeal, its contributions, and the reasons for its decline. Although the "new" institutionalism has few direct ties to the older tradition, some interesting commonalities are found and discussed. Links to the "new institutionalism" in sociology and political science, and to historical work on other "institutional" traditions are also mentioned.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.15.3.173
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 15 (2001)
Issue (Month): 3 (Summer)
Pages: 173-194

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Handle: RePEc:aea:jecper:v:15:y:2001:i:3:p:173-194

Note: DOI: 10.1257/jep.15.3.173
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Cited by:
  1. Ngendakuriyo, Fabien & Zaccour, Georges, 2013. "Fighting corruption: To precommit or not?," Economics Letters, Elsevier, Elsevier, vol. 120(2), pages 149-154.
  2. Gonzalo Caballero, 2004. "Instituciones e historia económica: enfoques y teorías institucionales," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, Universidad Externado de Colombia - Facultad de Economía, vol. 6(10), pages 135-157, January-J.
  3. Gagliardi, Francesca, 2008. "Institutions and economic change: A critical survey of the new institutional approaches and empirical evidence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 37(1), pages 416-443, February.
  4. Janet T. Knoedler & Daniel A. Underwood, 2004. "La enseñanza de los Principios de Economía: propuesta para un enfoque multiparadigmático," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, Universidad Externado de Colombia - Facultad de Economía, vol. 6(11), pages 39-72, July-Dece.
  5. Azmat Gani, 2012. "The Relationship Between Good Governance And Carbon Dioxide Emissions: Evidence From Developing Economies," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, Chung-Ang Unviersity, Department of Economics, vol. 37(1), pages 77-93, March.
  6. Gordon de Brouwer, 2004. "Institutions to Promote Financial Stability: Reflections on East Asia and an Asian Monetary Fund," Treasury Working Papers, Treasury, Australian Government 2004-02, Treasury, Australian Government, revised Sep 2004.
  7. Meerman, Jacob, 2005. "Oppressed people: Economic mobility of the socially excluded," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 34(4), pages 542-567, August.
  8. Villena, Mauricio G. & Villena, Marcelo J., 2004. "Evolutionary Game Theory and Thorstein Veblen’s Evolutionary Economics: Is EGT Veblenian?," MPRA Paper 28889, University Library of Munich, Germany.
  9. Gonzalo Ordoñez & Alejandro Hernández & Carolina Hernández & Carolina Méndez, 2009. "Análisis bibliométrico de la Revista de Economía Institucional en sus primeros diez años," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, Universidad Externado de Colombia - Facultad de Economía, vol. 11(20), pages 309-353, January-J.
  10. Mbatha, C. Nhlanhla & Antrobus, G.G., 2008. "Institutions and economic research: a case of location externalities on agricultural resource allocation in the Kat River basin, South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), Agricultural Economics Association of South Africa (AEASA), vol. 47(4), December.
  11. Onyeiwu, Steve & Jones, Robert, 2003. "An institutionalist perception of cooperative behavior," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 32(3), pages 233-248, July.
  12. Elias Khalil, 1999. "Institutions, Naturalism and Evolution," Review of Political Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 11(1), pages 61-81.
  13. Crase, Lin & Dollery, Brian & Lockwood, Michael, 2002. "Transaction Costs and Welfare in the Permanent Water Market in NSW," 2002 Conference (46th), February 13-15, 2002, Canberra, Australian Agricultural and Resource Economics Society 125076, Australian Agricultural and Resource Economics Society.
  14. Ellerman, David, 2001. "Introduction to property theory - the fundamental theorems," Policy Research Working Paper Series 2692, The World Bank.
  15. Dolfsma, W.A. & McMaster, R. & Finch, J., 2005. "Institutions, Institutional Change, Language, and Searle," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm ERS-2005-067-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  16. Jane Frances, 2004. "Institutions, Firms and Economic Growth," Treasury Working Paper Series 04/19, New Zealand Treasury.
  17. Lehtonen, Markku, 2004. "The environmental-social interface of sustainable development: capabilities, social capital, institutions," Ecological Economics, Elsevier, Elsevier, vol. 49(2), pages 199-214, June.
  18. Viktor Vanberg, 1997. "Institutional Evolution through Purposeful Selection: The Constitutional Economics of John R. Commons," Constitutional Political Economy, Springer, Springer, vol. 8(2), pages 105-122, June.
  19. Azmat Gani & Biman Chand Prasad, 2006. "Institutional Quality and Trade in Pacific Island Countries," Working Papers, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada. 2006, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
  20. Duarte N. Leite & Sandra T. Silva & Óscar Afonso, 2012. "Institutions, Economics and the Development Quest," FEP Working Papers 457, Universidade do Porto, Faculdade de Economia do Porto.
  21. Aurélien Acquier & Jean-Pascal Gond, 2007. "Aux sources de la responsabilité sociale de l’entreprise : à la (re)découverte d’un ouvrage fondateur, Social Responsibilities of the Businessman d’Howard Bowen L’impact des privatisations ," Revue Finance Contrôle Stratégie, revues.org, revues.org, vol. 10(2), pages 5-35, June.
  22. Malcolm Rutherford, 2001. "Walton Hamilton, Amherst, and the Brookings Graduate School: Institutonal Economics and Education," Department Discussion Papers 0104, Department of Economics, University of Victoria.

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