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Developing an Institutional Political Economy Framework Integrating Firms, Markets, and States

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  • Moon, Wanki

Abstract

Building on the long tradition of diverse schools of thought underlining the importance of institutions in determining economic outcomes, the paper develops an eclectic institutional political economy framework that views the economy as consisting of the four decision-making units including the firm, the market, the state, and foreign states. They represent major institutional arrangements accountable for resource allocation decisions at the firm, industry, national, and global levels. The paper restructures disciplinary and interdisciplinary schools/theories/approaches into a unified framework centered around the four principal decision-making units.

Suggested Citation

  • Moon, Wanki, 2017. "Developing an Institutional Political Economy Framework Integrating Firms, Markets, and States," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252532, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea17:252532
    DOI: 10.22004/ag.econ.252532
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    References listed on IDEAS

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    9. Pingali, Prabhu, 2010. "Agriculture Renaissance: Making "Agriculture for Development" Work in the 21st Century," Handbook of Agricultural Economics, in: Robert Evenson & Prabhu Pingali (ed.), Handbook of Agricultural Economics, edition 1, volume 4, chapter 74, pages 3867-3894, Elsevier.
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    Cited by:

    1. Arun Natarajan Hariharan & Arindam Biswas, 2021. "Global Recognition of India’s Knowledge-Based Industry Evolution Through Empirical Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(3), pages 1399-1423, September.

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    Keywords

    Institutional and Behavioral Economics; Political Economy;

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