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A Political Economy Approach of Institutional Research

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  • Michelle Yan LIU

    (Jlanshan St., No.217, Shahekcu District, Dalian, China.)

Abstract

Institutional research is ready to move to the next stage, the stage, as argued by this paper, should be characterized with a more comprehensive and integrated social sciences approach. The theoretical foundation for such a move exists, as the naturel connections between political institutions and economic institutions were well addressed by North, Fukuyama, and Acemoglu; the influences of cultural heritage on the institutional choices were aldo discussed by North and Huntington. Another shift in institutional research proposed by this paper is the change from the general solutions to the specific solutions because the institutional characteristics are individualized after considering the impacts of culture heritage. Through the data analysis of World Governance Index (WGI) and other development indicators this paper presents the connections between political and economic institutions and the unique characteristics of political orders and developmental paths of a few specific groups of countries. The paper also discusses the influences of cultural heritage on the institution’s choice and transformation path. Finally the paper proposes an institutional research framework.

Suggested Citation

  • Michelle Yan LIU, 2017. "A Political Economy Approach of Institutional Research," Journal of Economics Bibliography, KSP Journals, vol. 4(2), pages 110-127, June.
    • Handle: RePEc:ksp:journ6:v:4:y:2017:i:2:p:110-127
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    References listed on IDEAS

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    1. Philippe Aghion, 2005. "Growth and Institutions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 32(1), pages 3-18, March.
    2. Daron Acemoglu & Suresh Naidu & Pascual Restrepo & James A. Robinson, 2019. "Democracy Does Cause Growth," Journal of Political Economy, University of Chicago Press, vol. 127(1), pages 47-100.
    3. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1231-1294.
    4. W. J. Henisz, 2000. "The Institutional Environment for Economic Growth," Economics and Politics, Wiley Blackwell, vol. 12(1), pages 1-31, March.
    5. Varsakelis, Nikos C., 2006. "Education, political institutions and innovative activity: A cross-country empirical investigation," Research Policy, Elsevier, vol. 35(7), pages 1083-1090, September.
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    More about this item

    Keywords

    Institutional economics; Political economy; Comparative economic system; Comparative political system; World Governance Index (WGI).;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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