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Economía Institucional Original y Nueva Economía Institucional: semejanzas y diferencias

Author

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  • Jairo J. Parada

    (Universidad de Missouri-Kansas)

Abstract

The purpose of this paper is to present the main differences between New Institutional Economics, NIE, and Original Institutional Economics, OIE, and to question some of the proposals that call for the gap between the two approaches to be bridge. This does not preclude the possibilities of a dialogue. Without ignoring some important theoretical developments in North’s work, the author claims that NIE is a school that operates in the periphery of the neoclassical economics paradigm, and shares its ontological and methodological foundations; however these are very different from the evolutionary (Darwinian) economics of Thorstein Veblen. Though the task of integrating the OIE and NIE seems impossible following the road of eclecticism, a dialogue between them could open new perspectives and enrich institutional economics.

Suggested Citation

  • Jairo J. Parada, 2003. "Economía Institucional Original y Nueva Economía Institucional: semejanzas y diferencias," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 5(8), pages 92-116, January-J.
    • Handle: RePEc:rei:ecoins:v:5:y:2003:i:8:p:92-116
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/jparada8.pdf
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    References listed on IDEAS

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    1. James I. Sturgeon, 1984. "Induction and Instrumentalism in Institutional Thought," Journal of Economic Issues, Taylor & Francis Journals, vol. 18(2), pages 599-609, June.
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    3. Groenewegen, J. & Kerstholt, F.T.S. & Nagelkerke, A.G., 1995. "On integrating new and old institutionalism : Douglass North building bridges," Other publications TiSEM cc3f6aba-ee41-4256-93de-8, Tilburg University, School of Economics and Management.
    4. Armen Alchian & Susan Woodward, 1997. "The Firm is Dead; Long Live the Firm: A Review of Oliver E. Williamson's The Economic Institutions of Capitalism," Chapters, in: Svetozar Pejovich (ed.), The Economic Foundations of Property Rights, chapter 15, pages 206-220, Edward Elgar Publishing.
    5. John Groenewegen & Frans Kerstholt & Ad Nagelkerke, 1995. "On Integrating New and Old Institutionalism: Douglass North Building Bridges," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(2), pages 467-475, June.
    6. Geoffrey M. Hodgson, 1999. "Evolution and Institutions," Books, Edward Elgar Publishing, number 1481.
    7. Ronald H. Coase, 2000. "The new institutional economics," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 1, Edward Elgar Publishing.
    8. Commons, John R., 1931. "Institutional Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 21, pages 648-657.
    9. Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, September.
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    Citations

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    Cited by:

    1. Leonel Arango Vásquez & Eduardo Alexander Duque Grisales & Germán Horacio Cardona Vélez, 2014. "La teoría de la agencia en la industria del capital riesgo: mecanismos de alineación de intereses," Escenarios: Empresas y Territorio, Institución Universitaria ESUMER, January.
    2. Torres M., Marcela & Ramos R., José L. & Galvis M., Moisés M. & Ramos C, José L. & Biswell J., Juan E, 2021. "Determinantes del emprendimiento juvenil en Colombia: un análisis desde la nueva economía institucional || Determinants of youth entrepreneurship in Colombia: an analysis from the new institutional ec," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 32(1), pages 300-323, December.
    3. Antonio Camargo Díaz, 2015. "Cultura e instituciones: ¿Una relación indisoluble?," Revista de Economía del Caribe 14787, Universidad del Norte.
    4. Iván Darío Gómez Lee, 2016. "La Seguridad Jurídica. El Caso De La Responsabilidad Fiscal En Colombia Vol.I," Books, Universidad Externado de Colombia, Facultad de Derecho, number 850.
    5. Luz Estela Tobón Berrío, 2013. "La caperucita roja y el lobo feroz disfrazado de abuelita: el desarrollo y la economía ortodoxa en el ropaje del neoinstitucionalismo," Revista de Economía del Caribe 14740, Universidad del Norte.
    6. Edwin Tarapuez & Beatriz Guzman-Diaz & Ramiro Parra-Hernandez, 2019. "Formal Institutional Factors Influencing the Entrepreneurial Intent in Quindío, Colombia," Proceedings of the 14th International RAIS Conference, August 19-20, 2019 005ET, Research Association for Interdisciplinary Studies.
    7. José Luis Moreno Cuello & José Luis Ramos Camargo, 2013. "Factores determinantes de la creación de empresas de base tecnológica en Colombia," Revista de Economía del Caribe 14752, Universidad del Norte.

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    More about this item

    Keywords

    New Institutional Economics; Original Institutional Economics; neoclassical economics; evolutionary economics;
    All these keywords.

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other

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