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Institutions: a critical analysis of their main characteristics

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  • Strachman, Eduardo

Abstract

The paper aims to investigate the main characteristics of institutions, as well as some of their more conspicuous peculiarities, as, for instance, their resistance to change, chiefly when compared to the capacity and speed of transformation of what is called the other social factors (or components). The article tries to describe the relationships among institutions and other social factors, in addition to contrasts and similarities among institutions in different levels, and in distinct countries and regions. It also intends to show the factors that conduct to a growing or decreasing institutional homogeneity in these different loci, and to an augmentation or lessening of the institutional instrumentality. Besides, the paper tries to give a better definition of institutions, which is important nowadays, given the increasing interest of economics for institutions.

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File URL: http://mpra.ub.uni-muenchen.de/25621/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 25621.

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Date of creation: 2001
Date of revision: 2010
Publication status: Published in Economia 1.3(2002): pp. 113-157
Handle: RePEc:pra:mprapa:25621

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Related research

Keywords: Institutional Arrangements; Economic Development: General; Institutions;

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References

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  1. Pagano, Ugo & Rowthorn, Robert, 1994. "Ownership, technology and institutional stability," Structural Change and Economic Dynamics, Elsevier, vol. 5(2), pages 221-242, December.
  2. Dosi, Giovanni, 1988. "Institutions and Markets in a Dynamic World," The Manchester School of Economic & Social Studies, University of Manchester, vol. 56(2), pages 119-46, June.
  3. Elster, Jon, 1989. "Social Norms and Economic Theory," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 99-117, Fall.
  4. Mario Rizzo, 1985. "Rules Versus Cost-Benefit Analysis in the Common Law," Cato Journal, Cato Journal, Cato Institute, vol. 4(3), pages 865-896, Winter.
  5. Rosenberg, Nathan, 1976. "On Technological Expectations," Economic Journal, Royal Economic Society, vol. 86(343), pages 523-35, September.
  6. Akerlof, George A, 1976. "The Economics of Caste and of the Rat Race and Other Woeful Tales," The Quarterly Journal of Economics, MIT Press, vol. 90(4), pages 599-617, November.
  7. Samuels, Warren J, 1995. "The Present State of Institutional Economics," Cambridge Journal of Economics, Oxford University Press, vol. 19(4), pages 569-90, August.
  8. Herbert A. Simon, 1991. "Organizations and Markets," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 25-44, Spring.
  9. Landesmann, Michael A. & Pagano, Ugo, 1994. "Institutions and economic change," Structural Change and Economic Dynamics, Elsevier, vol. 5(2), pages 199-203, December.
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