IDEAS home Printed from
   My bibliography  Save this article

The New Comparative Political Economy


  • Peter Boettke


  • Christopher Coyne


  • Peter Leeson


  • Frederic Sautet



With the collapse of communism in the late 1980s the field of comparative political economy has undergone major revision. Socialism is no longer considered the viable alternative to capitalism it once was. We now recognize that the choice is between alternative institutional arrangements of capitalism. Progress in the field of comparative political economy is achieved by examining how different legal, political and social institutions shape economic behavior and impact economic performance. In this paper we survey the new learning in comparative political economy and suggest how this learning should redirect our attention in economic development. Copyright Springer Science + Business Media, Inc. 2005

Suggested Citation

  • Peter Boettke & Christopher Coyne & Peter Leeson & Frederic Sautet, 2005. "The New Comparative Political Economy," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 18(3), pages 281-304, December.
  • Handle: RePEc:kap:revaec:v:18:y:2005:i:3:p:281-304
    DOI: 10.1007/s11138-005-3113-0

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Rutherford,Malcolm, 1996. "Institutions in Economics," Cambridge Books, Cambridge University Press, number 9780521574471, March.
    2. James D. Gwartney & Robert A. Lawson & Randall G. Holcombe, 1999. "Economic Freedom and the Environment for Economic Growth," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(4), pages 643-643, December.
    3. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters,in: Understanding the Process of Economic Change Princeton University Press.
    4. Andrei Shleifer & Robert Vishny, 1992. "Pervasive Shortages under Socialism," RAND Journal of Economics, The RAND Corporation, vol. 23(2), pages 237-246, Summer.
    5. Kornai, Janos, 1992. "The Socialist System: The Political Economy of Communism," OUP Catalogue, Oxford University Press, number 9780198287766.
    6. Boettke Peter J. & Coyne Christopher J. & Leeson Peter T., 2004. "The Many Faces of the Market," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 14(2), pages 1-18, December.
    7. Joshua Hall & Robert Lawson, 2009. "Economic Freedom and Peace," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 37(4), pages 445-446, December.
    8. Ellman, Michael, 1975. "Did the Agricultural Surplus Provide the Resources for the Increase in Investment in the U SSR During the First Five Year Plan?," Economic Journal, Royal Economic Society, vol. 85(340), pages 844-863, December.
    9. Anderson, Gary M & Boettke, Peter J, 1993. "Perestroika and Public Choice: The Economics of Autocratic Succession in a Rent-Seeking Society," Public Choice, Springer, vol. 75(2), pages 101-118, February.
    10. Peter T. Leeson, 2006. "Self-Enforcing Arrangements and Heterogeneous Groups," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(4), pages 891-907, October.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. John Meadowcroft & Mark Pennington, 2008. "Bonding and bridging: Social capital and the communitarian critique of liberal markets," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(2), pages 119-133, September.
    2. Johnson, Marianne & Kovzik, Alexander, 2016. "Teaching comparative economic systems 25 years after the collapse of the Soviet Union," International Review of Economics Education, Elsevier, vol. 22(C), pages 23-33.
    3. Boettke, Peter & Fink, Alexander, 2011. "Institutions first," Journal of Institutional Economics, Cambridge University Press, vol. 7(04), pages 499-504, December.
    4. Peter T. Leeson, 2008. "Escaping Poverty: Foreign Aid, Private Property, and Economic Development," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 23(Spring 20), pages 39-64.
    5. Peter Boettke & Rosolino Candela, 2014. "Hayek, Leoni, and Law as the Fifth Factor of Production," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(2), pages 123-131, June.
    6. repec:kap:revaec:v:30:y:2017:i:4:d:10.1007_s11138-017-0375-2 is not listed on IDEAS
    7. J. B. Rosser-Jr. & M. Rosser., 2009. "A Critique of the New Comparative Economics," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 8.
    8. Leonid Krasnozhon, 2013. "Institutional stickiness of democracy in post-communist states: Can prevailing culture explain it?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(2), pages 221-237, June.
    9. Jochem, Torsten & Murtazashvili, Ilia & Murtazashvili, Jennifer, 2016. "Establishing Local Government in Fragile States: Experimental Evidence from Afghanistan," World Development, Elsevier, vol. 77(C), pages 293-310.
    10. Harris, E., 2002. "Historical regulation of Victoria's water sector: A case of government failure?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(3), September.
    11. Choi, Jongmoo Jay & Lee, Sang Mook & Shoham, Amir, 2016. "The effects of institutional distance on FDI inflow: General environmental institutions (GEI) versus minority investor protection institutions (MIP)," International Business Review, Elsevier, vol. 25(1), pages 114-123.
    12. Nicholas Curott, 2010. "Christopher J. Coyne and Peter T. Leeson, Media, Development, and Institutional Change," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(4), pages 419-423, December.
    13. Sinclair Davidson & Jason Potts, 2016. "The Social Costs of Innovation Policy," Economic Affairs, Wiley Blackwell, vol. 36(3), pages 282-293, October.
    14. Thierry Aimar, 2009. "The curious destiny of a heterodoxy: The Austrian economic tradition," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 22(3), pages 199-207, September.
    15. Smith, Adam & Judge, William & Pezeshkan, Amir & Nair, Anil, 2016. "Institutionalizing entrepreneurial expertise in subsistence economies," Journal of World Business, Elsevier, vol. 51(6), pages 910-922.
    16. Daniel D’Amico, 2010. "Jesus Huerta de Soto, Book review of The Austrian school: Market order and entrepreneurial creativity," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 193-198, June.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:revaec:v:18:y:2005:i:3:p:281-304. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.