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The New Institutional Perspective: Concepts, Methods, Results

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  • Claude MÉNARD

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Abstract

New Institutional Economics has developed considerably over the last twenty years, qualifying as a "progressive research program". This program is based on a hard core of concepts that apply to well identify objects: the alternative modes for organizing transactions, the institutional environment in which they ~rc embedded, and the interaction between these dimensions. Transaction costs playa major role in this approach. This paper examines why it is so, it deals with several controversial issues, and it provides examples of recent breakthroughs in economic's, but also in history and in political sciences.

Suggested Citation

  • Claude MÉNARD, 2003. "The New Institutional Perspective: Concepts, Methods, Results," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 44, pages 103-118.
  • Handle: RePEc:cpo:journl:y:2003:i:44:p:103-118
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    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • D20 - Microeconomics - - Production and Organizations - - - General
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • P50 - Economic Systems - - Comparative Economic Systems - - - General

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