Institutional Economics
An Introduction
Published on 11. April 2019
Book
Paperback/Softback
306 pages
978-1-108-46108-5 (ISBN)
Description
Why is it that some countries become rich while others remain poor? Do markets require regulation to function efficiently? If markets offer an efficient way of exchanging goods, why do individuals even create firms? How are economic transactions organized in the absence of a state that could enforce contracts and guarantee property rights? Institutional economics has allowed social scientists to answer many fundamental questions about the organization and functioning of societies. This introduction to institutional economics is concise, yet easy to understand. It not only caters to students of economics but to anybody interested in this topical research area and its specific subfields. Both formal and informal institutions (such as customs, habits, and traditions) are discussed with respect to their causes and consequences, highlighting the important part they play for economic growth and development.
Reviews / Votes
'This book covers both contemporary and historical thinking on topics which are at the core of our understanding of how markets and governments work. Although grounded in economics research and thinking, it is written in a way that makes it accessible to a wide range of disciplinary backgrounds.' Timothy Besley, W. Arthur Lewis Professor of Development Economics, London School of Economics 'The literature on institutional economics is vast. This book isn't just the place to start, it will take you all the way to the research frontier. An authoritative survey.' James A. Robinson, University of ChicagoMore details
Language
English
Place of publication
Cambridge
United Kingdom
Target group
College/higher education
Product notice
Paperback (trade)
Illustrations
Worked examples or Exercises; 11 Tables, black and white; 18 Line drawings, black and white
Dimensions
Height: 229 mm
Width: 152 mm
Thickness: 17 mm
Weight
455 gr
ISBN-13
978-1-108-46108-5 (9781108461085)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
Book
04/2019
Cambridge University Press
€143.80
Shipment within 15-20 days
E-Book
04/2019
Cambridge University Press
€41.49
Available for download
Person
Stefan Voigt is Chair of Economic Analysis of Law at the Universitaet Hamburg and Director of its Institute of Law and Economics. He is also a fellow with CESifo (Munich). Voigt is one of the editors of Constitutional Political Economy and a member of various editorial boards, including those of Public Choice and the International Review of Law and Economics.
Content
Preface; Introduction; 1. The basics; 2. Simple transactions; 3. Repeated and long-term transactions: on the choice of governance structures with given institutions; 4. Institutions and collective action; 5. The relevance of institutions for growth and development; 6. Explaining differences in external institutions across societies; 7. Explaining change in internal institutions; 8. On the need for normative theory; 9. Consequences for economic policy; 10. Outlook.