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Research frontiers of new institutional economics

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  • Claude Ménard

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, NUS - National University of Singapore)

Abstract

This contribution is about the ‘progressive research program', as Imre Lakatos would have called it, initiated by New Institutional Economics. After a short reminder of the ‘golden triangle' of concepts and tools introduced by the founders (Coase, North, Ostrom, Williamson) and their followers, the paper turns to a quick overview of the attainments of this paradigm along its dominant branches: organization theory and institutional analysis. The emphasis is on the new paths opening up, with a focus on two key issues: hybrid arrangements, which may well be the prevailing organization of transactions in developed market economies; and intermediate, ‘meso-institutions', which likely provide the missing link between the general rules framing socioeconomic activities and the actors operating within these rules. The underlying argument is that whatever happens to the label ‘NIE', this research program will remain with us for a long time ahead.

Suggested Citation

  • Claude Ménard, 2018. "Research frontiers of new institutional economics," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02046659, HAL.
    • Handle: RePEc:hal:cesptp:hal-02046659
    DOI: 10.1016/j.rauspm.2017.12.002
    Note: View the original document on HAL open archive server: https://hal.science/hal-02046659
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    Cited by:

    1. Leslaw Pietrewicz, 2018. "Token-based blockchain financing and governance: A transaction cost economics approach (Tokeny w finansowaniu i zarzadzaniu blockchainem: Perspektywa ekonomii kosztów transakcyjnych)," Research Reports, University of Warsaw, Faculty of Management, vol. 2(28), pages 126-139.

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    Keywords

    New institutional economomics; Organization theory; Institutional analysis;
    All these keywords.

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