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Institutions, Transaction Costs and Productivity in the Long Run

Author

Listed:
  • Douglass C. North

    (Washington University)

Abstract

The argument of this essay is that the immense productivity increases resulting from technological developments of the past century and a half could only be realized by fundamental changes in the institutional and organizational structure--a supply side argument; and that the consequent tensions induced by the resulting societal transformation have resulted (and are continuing to result) in politically-induced fundamental changes in the institutional structure to mitigate these tensions--a demand side argument. Both the supply side and demand side institutional changes have been and continue to be fundamental influences on productivity change.

Suggested Citation

  • Douglass C. North, 1993. "Institutions, Transaction Costs and Productivity in the Long Run," Economic History 9309004, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpeh:9309004
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    Citations

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    Cited by:

    1. Ivan D. Trofimov, 2017. "Capital Productivity In Industrialised Economies: Evidence From Error-Correction Model And Lagrange Multiplier Tests," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 62(215), pages 53-80, October –.
    2. Jorge Fernández-Baca, 1994. "Douglass North y la Nueva Historia Económica," Apuntes. Revista de ciencias sociales, Fondo Editorial, Universidad del Pacífico, vol. 21(34), pages 3-10.
    3. Janice Seinfeld, 1995. "Fuentes y componentes del crecimiento de la economía peruana, 1950-1990," Apuntes. Revista de ciencias sociales, Fondo Editorial, Universidad del Pacífico, vol. 22(37), pages 91-120.
    4. Marianna Belloc, 2006. "Institutions and International Trade: A Reconsideration of Comparative Advantage," Journal of Economic Surveys, Wiley Blackwell, vol. 20(1), pages 3-26, February.
    5. José Ignacio Uribe & Carlos Humberto Ortiz & Gustavo Adolfo García, 2007. "La segmentación del mercado laboral colombiano en la década de los noventa," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 9(16), pages 189-221, January-J.
    6. Trew, Alex, 2009. "Institutions and the Scale Effect," SIRE Discussion Papers 2009-51, Scottish Institute for Research in Economics (SIRE).
    7. Baccini, Leonardo, 2014. "Cheap talk: transaction costs, quality of institutions, and trade agreements," LSE Research Online Documents on Economics 44923, London School of Economics and Political Science, LSE Library.
    8. Malgorzata Szczepaniak & Agnieszka Szulc-Obloza, 2019. "Labour market institutions and income inequalities across the European Union," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 18(3), pages 365-377, September.
    9. Nikos Alabanos & Sotiris Theodoropoulos, 2016. "A key-point comparison & the new challenges for the existent Administrative Burden Models (A.B.M’s)," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 66(1-2), pages 32-45, January-J.
    10. Alexander Smajgl, 2004. "Modelling the effect of learning and evolving rules on the use of common-pool resources," Computing in Economics and Finance 2004 178, Society for Computational Economics.
    11. McAllister, Ryan R.J. & Smajgl, Alex & Asafu-Adjaye, John, 2007. "Forest logging and institutional thresholds in developing south-east Asian economies: A conceptual model," Forest Policy and Economics, Elsevier, vol. 9(8), pages 1079-1089, May.
    12. José Ignacio Uribe García & Carlos Humberto Ortíz Quevedo, 2004. "Una Propuesta De Conceptualización Y Medición Del Sector Informal," Documentos de Trabajo 3720, Universidad del Valle, CIDSE.

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    JEL classification:

    • N - Economic History

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