This article presents the principal arguments which necessitate the serious study of institutional economics. It considers the study in the context of inefficiencies in the economic system of a developing nation. Further, it explains why managerial decision-making has to take into account the behavior and working of institutions for its effectiveness. It also sums up the impact these factors have on the business environment which is so vital for understanding business.
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Volume (Year): II (2004) Issue (Month): 4 (November) Pages: 8-24 Download reference. The following formats are available: HTML
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Handle: RePEc:icf:icfjme:v:02:y:2004:i:4:p:8-24
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