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Framework For Researching The Modelling Possibilities Of Institutional Behavior

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  • Milica Delibasic
  • Niksa Grgurevic
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    Abstract

    This paper will try to conceptualise the primary structural elements of the exemplary model of institutional behavior as a framework for bounded economic rationality, based on the sublimation of the key recommendations from the extensive scientific literature and heterogeneous indicators of institutional development. Its hypothesis states that this model should be based on a) homogeneous framework of interaction between domestic political, economic and other social institutions, and b) the role of external institutions, which, in their totality determine the economic choices and the corresponding effects, and c) application of the principles, conclusions and explanations that offer institutional economic theory.

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    File URL: http://repec.mnje.com/mje/2013/v09-n04/mje_2013_v09-n04-a15.pdf
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    Bibliographic Info

    Article provided by Economic Laboratory for Transition Research (ELIT) in its journal Montenegrin Journal of Economics.

    Volume (Year): 9 (2013)
    Issue (Month): 4 ()
    Pages: 65-76

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    Handle: RePEc:mje:mjejnl:v:9:y:2013:i:4:p:65-76

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    1. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
    2. Rodrik, Dani, 2003. "Growth Strategies," CEPR Discussion Papers 4100, C.E.P.R. Discussion Papers.
    3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    4. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2002. "Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development," NBER Working Papers 9305, National Bureau of Economic Research, Inc.
    5. Robert J. Barro, 1988. "Government Spending in a Simple Model of Endogenous Growth," NBER Working Papers 2588, National Bureau of Economic Research, Inc.
    6. Baron, James N & Hannan, Michael T, 1994. "The Impact of Economics on Contemporary Sociology," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1111-46, September.
    7. North, Douglass C., 1993. "Economic Performance through Time," Nobel Prize in Economics documents 1993-2, Nobel Prize Committee.
    8. Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," NBER Working Papers 10481, National Bureau of Economic Research, Inc.
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