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The Role of Institutions in the Entrepreneurial Activity of Pulievi Brothers (1839 – 1868)

Author

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  • Ivaylo Naydenov

    (Institute for Historical Studies, Bulgarian Academy of Sciences, Bulgaria)

Abstract

Documents relating to the commercial activities of the brothers Hristo, Nikola and Ivan T. Pulievi (1839-1868), allow to shed light on the problems that are underestimated in Bulgarian historiography. Such an issue is the role of the "institutions". In the proposed context, the term "institution" means bonds and relations between people. From this point of view, Douglass North and Avner Greif's view is particularly relevant, according to which the institutions are a system of rules, beliefs, level of trust. These are the so-called unofficial norms that occupy a significant place in the activity of the entrepreneurs from the period of the Bulgarian National Revival. Merchants in the Ottoman Empire were forced to develop their business in a situation of constant uncertainty, which is why the trust between them and the reputation they enjoyed played an important role in their entrepreneurial affairs. In this regard the mentioned above elements played a crucial role. On the other hand, in the preserved documents of Pulievi there is brief information about institutions that are based on official norms - written laws, normative acts, administrative structures that will also be analyzed.

Suggested Citation

  • Ivaylo Naydenov, 2018. "The Role of Institutions in the Entrepreneurial Activity of Pulievi Brothers (1839 – 1868)," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 3, pages 258-269, November.
    • Handle: RePEc:ceh:journl:y:2018:v:3:p:258-269
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    References listed on IDEAS

    as
    1. Greif,Avner, 2006. "Institutions and the Path to the Modern Economy," Cambridge Books, Cambridge University Press, number 9780521480444.
    2. Pencho Penchev, 2015. "The Economic Theory as a Basis for Economic History Research," Godishnik na UNSS, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 197-263, October.
    3. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
    4. Greif, Avner, 2000. "The fundamental problem of exchange: A research agenda in Historical Institutional Analysis," European Review of Economic History, Cambridge University Press, vol. 4(3), pages 251-284, December.
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    Cited by:

    1. Ivaylo Naydenov, 2020. "Between Economic Theory and Economic History: Notes on the Power, Markets and Entrepreneurs during the Bulgarian National Revival Period," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 5, pages 104-122, November.

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    More about this item

    Keywords

    Bulgarian National Revival period; Pulievi; merchants; institutions; entrepreneurship; business ethics;
    All these keywords.

    JEL classification:

    • N83 - Economic History - - Micro-Business History - - - Europe: Pre-1913

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