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Bringing Institutions Into Evolutionary Economics: Another View with Links to Changes in Physical and Social Technologies

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    Abstract

    Like Nelson (2002), I make a case for bringing institutions into evolutionary economics. But unlike Nelson, who defines institutions as social technologies consisting of rules-routines, I define them in agreement with North (1990) as humanly devised rules-constraints — such as formal law and informal social norms — but also view them, to accommodate most of Nelson's approach, as constraining the variety of rules-routines employable by agents. I show that this definition has advantages for communicating with modern institutional analysis, for clarifying how institutions can influence, and be influenced by, changes in physical and social technologies, and for producing policy implications.

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    Bibliographic Info

    Paper provided by The Ratio Institute in its series Ratio Working Papers with number 24.

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    Length: 28 pages
    Date of creation: 15 May 2003
    Date of revision:
    Publication status: Published in Journal of Evolutionary Economics, 2003, pages 237-258.
    Handle: RePEc:hhs:ratioi:0024

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    Postal: The Ratio Institute, P.O. Box 5095, SE-102 42 Stockholm, Sweden
    Phone: 08-441 59 00
    Fax: 08-441 59 29
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    Keywords: institutions; rules-constraints; rules-routines; social technologies; economic evolutions;

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    1. Sugden, Robert, 1989. "Spontaneous Order," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 85-97, Fall.
    2. Heiner, Ronald A, 1983. "The Origin of Predictable Behavior," American Economic Review, American Economic Association, vol. 73(4), pages 560-95, September.
    3. Nelson, Richard R. & Sampat, Bhaven N., 2001. "Making sense of institutions as a factor shaping economic performance," Journal of Economic Behavior & Organization, Elsevier, vol. 44(1), pages 31-54, January.
    4. Pelikan, P, 1992. "The Dynamics of Economic Systems, or How to Transform a Failed Socialist Economy," Journal of Evolutionary Economics, Springer, vol. 2(1), pages 39-63, March.
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    Cited by:
    1. Pelikan, Pavel, 2004. "Interconnecting Ecolutionary, Institutional and Cognitive Economics: Six Steps towards Understanding the Six Links," Ratio Working Papers 48, The Ratio Institute.
    2. Judit KAPÃS & Pál CZEGLÉDI, 2007. "What Does Transition Mean?: Post-socialist and Western European Countries Paralleled," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 3, pages 3-28, December.
    3. Kapás, Judit & Czeglédi, Pál, 2008. "Technológiai és intézményi változások a munkapiacon és a vállalati szervezetben. Nyugat- és kelet-közép-európai összehasonlítás
      [Technological and institutional changes on the labour
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 308-332.
    4. H Lzl, Werner, 2006. "Convergence of financial systems: towards an evolutionary perspective," Journal of Institutional Economics, Cambridge University Press, vol. 2(01), pages 67-90, April.
    5. Marletto, Gerardo, 2009. "Heterodox environmental economics: theoretical strands in search of a paradigm," MPRA Paper 19933, University Library of Munich, Germany.
    6. Geels, Frank W., 2014. "Reconceptualising the co-evolution of firms-in-industries and their environments: Developing an inter-disciplinary Triple Embeddedness Framework," Research Policy, Elsevier, vol. 43(2), pages 261-277.
    7. Simone Strambach, 2008. "Path Dependency and Path Plasticity: the Co-evolution of Institutions and Innovation - the German Customized Business Software Industry," Working Papers on Innovation and Space 2008-02, Philipps University Marburg, Department of Geography.
    8. Kapás, Judit, 2007. "Hogyan fejlődik a vállalat?. A fizikai és a társadalmi technológia kölcsönhatásos evolúciós folyamata
      [How do firms develop?. The mutual evolutionary process of physical and social techno
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 49-66.
    9. Heike Schroeder, 2011. "Application possibilities of the micro-meso-macro framework in economic geography," Papers in Evolutionary Economic Geography (PEEG) 1115, Utrecht University, Section of Economic Geography, revised Aug 2011.
    10. Pelikan, Pavel, 2006. "Markets vs. Government when Rationality Is Unequally Bounded: Some Consequences of Cognitive Inequalities for Theory and Policy," Ratio Working Papers 85, The Ratio Institute, revised 03 Sep 2006.

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