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North's institutionalism and the prospect of combining theoretical approaches

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  • Paul Vandenberg

Abstract

The distinction between new and old institutional economics may be unhelpful in depicting those theorists who defy clear categorisation. One such writer is Douglass North, who is associated with the new institutionalism but who deviates from the neoclassical principles which supposedly form the foundations of this school. The paper analyses his work to show how he combines both mainstream and alternative ideas. In attempting to reconcile individual agency with social structure, North suggests that institutions provide the constraints under which decisions are made but that individuals and organisations can alter those constraints. While his work is an attempt to advance interdisciplinary research, it fails to provide a fully integrated theoretical approach. Copyright 2002, Oxford University Press.

Suggested Citation

  • Paul Vandenberg, 2002. "North's institutionalism and the prospect of combining theoretical approaches," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(2), pages 217-235, March.
    • Handle: RePEc:oup:cambje:v:26:y:2002:i:2:p:217-235
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    Citations

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    Cited by:

    1. Kapás, Judit, 2003. "A piac mint intézmény - szélesebb perspektívában [The market as an institution - in a broader perspective]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1076-1094.
    2. Manya M. Mooya & Chris E. Cloete, 2007. "Informal Urban Property Markets and Poverty Alleviation: A Conceptual Framework," Urban Studies, Urban Studies Journal Limited, vol. 44(1), pages 147-165, January.
    3. Kapás, Judit & Komáromi, György, 2004. "Régi és új hangsúlyok az új intézményi közgazdaságtanban. Institutions and Change. ISNIE 7. konferenciája, Budapest, 2003. szeptember 11-13 [Old and new emphases in the new institutional economics]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 90-98.
    4. Locatelli, Catherine & Rossiaud, Sylvain, 2011. "A neoinstitutionalist interpretation of the changes in the Russian oil model," Energy Policy, Elsevier, vol. 39(9), pages 5588-5597, September.
    5. Ambrosino, Angela & Fiori, Stefano, 2017. "How Can Formal Norms Change Informal Norms? Douglass North’s Approach to Ideologies and Institutional Change," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201707, University of Turin.
    6. Hernan G. Roxas & Val Lindsay & Nicholas Ashill & Antong Victorio, 2007. "Institutional analysis of strategic choice of micro, small, and medium enterprises : a conceptual framework," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 44(1), pages 151-186, June.
    7. Kingwell, Ross S., 2003. "Institutional change and plant variety provision in Australia," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57905, Australian Agricultural and Resource Economics Society.
    8. Kwangsu Kim, 2014. "Adam Smith's and Douglass North's Multidisciplinary Approach to Economic Development," American Journal of Economics and Sociology, Wiley Blackwell, vol. 73(1), pages 3-31, January.
    9. Vandenberg, Paul, 2003. "Adapting to the Financial Landscape: Evidence from Small Firms in Nairobi," World Development, Elsevier, vol. 31(11), pages 1829-1843, November.

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