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Framework For Researching The Modelling Possibilities Of Institutional Behavior

  • Milica Delibasic
  • Niksa Grgurevic
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    This paper will try to conceptualise the primary structural elements of the exemplary model of institutional behavior as a framework for bounded economic rationality, based on the sublimation of the key recommendations from the extensive scientific literature and heterogeneous indicators of institutional development. Its hypothesis states that this model should be based on a) homogeneous framework of interaction between domestic political, economic and other social institutions, and b) the role of external institutions, which, in their totality determine the economic choices and the corresponding effects, and c) application of the principles, conclusions and explanations that offer institutional economic theory.

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    Article provided by Economic Laboratory for Transition Research (ELIT) in its journal Montenegrin Journal of Economics.

    Volume (Year): 9 (2013)
    Issue (Month): 4 ()
    Pages: 65-76

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    Handle: RePEc:mje:mjejnl:v:9:y:2013:i:4:p:65-76
    Contact details of provider: Web page: http://www.mnje.com

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    1. Barro, Robert J., 1990. "Government Spending in a Simple Model of Endogeneous Growth," Scholarly Articles 3451296, Harvard University Department of Economics.
    2. Rodrik, Dani, 2005. "Growth Strategies," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 14, pages 967-1014 Elsevier.
    3. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-68, June.
    4. Baron, James N & Hannan, Michael T, 1994. "The Impact of Economics on Contemporary Sociology," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1111-46, September.
    5. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
    6. Acemoglu, Daron & Johnson, Simon & Robinson, James A, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," CEPR Discussion Papers 4458, C.E.P.R. Discussion Papers.
    7. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    8. Rodrik, Dani & Subramanian, Arvind & Trebbi, Francesco, 2002. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," CEPR Discussion Papers 3643, C.E.P.R. Discussion Papers.
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