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Institutional capital: A new analytical framework on theory and actions for economic development

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  • Paul, Bénédique

Abstract

Institutions are the first collective resources accumulated in any society. In this case, every society is instituted. These resources must be taken in account to ameliorate the socioeconomic conditions of the members of it. Not only for economic growth, but over all for a sustainable economic development, institutions are fundamental. Furthermore, some specific institutions present the shown properties of the capital. That is why we use the institutional capital approach to analyze the importance of such institutions in economic development theories and practices. The main conclusions of this paper are explained in the promises of this notion for future researches on implemented actions and theories on economic development, mainly in developing countries. Our work in progress shows that institutional capital is determinant for success and efficiency in microfinancial actions. The conclusions of this research are also useful to deepen theories on economic growth, organizations, and overall on Institutional Economics.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 39018.

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Date of creation: 02 Jun 2009
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Handle: RePEc:pra:mprapa:39018

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Related research

Keywords: institutions; institutional capital; sustainable economic development;

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  1. Mamoon, D., 2007. "Good institutions and fair trade: a road map to local and global social harmony," ISS Working Papers - General Series 18744, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
  2. Bob Evans & Marko Joas & Susan Sundback & Kate Theobald, 2006. "Governing local sustainability," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 49(6), pages 849-867.
  3. Johannes W. Fedderke & John M. Luiz, 2008. "Does human capital generate social and institutional capital? Exploring evidence from South African time series data," Oxford Economic Papers, Oxford University Press, vol. 60(4), pages 649-682, October.
  4. James A. Robinson & Daron Acemoglu, 2000. "Political Losers as a Barrier to Economic Development," American Economic Review, American Economic Association, vol. 90(2), pages 126-130, May.
  5. Paul, Bénédique, 2009. "Reclaiming Institutions as a Form of Capital," MPRA Paper 39017, University Library of Munich, Germany.
  6. Pierre Berthelier & Alain Desdoigts & Jacques Ould Aoudia, 2004. "Profils institutionnels," Revue Française d'Économie, Programme National Persée, vol. 19(1), pages 121-196.
  7. Harald Bauder, 2005. "Institutional Capital and Labour Devaluation: The Non-Recognition of Foreign Credentials in Germany," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 2(1), pages 75-93.
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