Reclaiming Institutions as a Form of Capital
Economists have recognized that “institutions matter” and the renewal of Institutional Economics has gained a large scientific authority, but institutions, as unit of analysis, stay a concept not understood on all its dimensions. Recently, the notion of “institutional capital” appeared in the literature, without neither satisfied definition nor demonstration. In this article, we adopt the “Resourced-Based View” approach to show that some kinds of institutions can theoretically be considered as form of capital, namely “institutional capital”. The main conclusions of this article are explicated in the promises of this new approach for future researches on growth theories, economic development theories, organizational theories, and overall on New Institutional Economics. We underline the importance to test the empirical strength of this economic resource. Meanwhile, economists may accept that “institutional capital matters”.
|Date of creation:||05 Jun 2009|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Bob Evans & Marko Joas & Susan Sundback & Kate Theobald, 2006. "Governing local sustainability," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 49(6), pages 849-867.
- Coase Ronald, 1991.
"The Institutional Structure of Production,"
Journal des Economistes et des Etudes Humaines,
De Gruyter, vol. 2(4), pages 10, December.
- Paul M Romer, 1999.
"Increasing Returns and Long-Run Growth,"
Levine's Working Paper Archive
2232, David K. Levine.
- Searle, John R., 2005. "What is an institution?," Journal of Institutional Economics, Cambridge University Press, vol. 1(01), pages 1-22, June.
- Jacques Ould Aoudia & Alain Desdoigts & Pierre Berthelier, 2004. "Profils institutionnels," Revue Française d'Économie, Programme National Persée, vol. 19(1), pages 121-196.
- Aoki, Masahiko, 2007. "Endogenizing institutions and institutional changes," Journal of Institutional Economics, Cambridge University Press, vol. 3(01), pages 1-31, April.
- Johannes W. Fedderke & John M. Luiz, 2008. "Does human capital generate social and institutional capital? Exploring evidence from South African time series data," Oxford Economic Papers, Oxford University Press, vol. 60(4), pages 649-682, October.
- Narayan, Deepa & Pritchett, Lant, 1997.
"Cents and sociability : household income and social capital in rural Tanzania,"
Policy Research Working Paper Series
1796, The World Bank.
- Narayan, Deepa & Pritchett, Lant, 1999. "Cents and Sociability: Household Income and Social Capital in Rural Tanzania," Economic Development and Cultural Change, University of Chicago Press, vol. 47(4), pages 871-97, July.
- Harald Bauder, 2005. "Institutional Capital and Labour Devaluation: The Non-Recognition of Foreign Credentials in Germany," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 2(1), pages 75-93.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:39017. 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: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.