Institutions, Institutional Change And Economic Performance (Political Economy Of Institutions And Decisions)

Institutions, Institutional Change And Economic Performance (Political Economy Of Institutions And Decisions)

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Continuing His Groundbreaking Analysis Of Economic Structures, Douglass North Develops An Analytical Framework For Explaining The Ways In Which Institutions And Institutional Change Affect The Performance Of Economies, Both At A Given Time And Over Time. Institutions Exist, He Argues, Due To The Uncertainties Involved In Human Interaction; They Are The Constraints Devised To Structure That Interaction. Yet, Institutions Vary Widely In Their Consequences For Economic Performance; Some Economies Develop Institutions That Produce Growth And Development, While Others Develop Institutions That Produce Stagnation. North First Explores The Nature Of Institutions And Explains The Role Of Transaction And Production Costs In Their Development. The Second Part Of The Book Deals With Institutional Change. Institutions Create The Incentive Structure In An Economy, And Organizations Will Be Created To Take Advantage Of The Opportunities Provided Within A Given Institutional Framework. North Argues That The Kinds Of Skills And Knowledge Fostered By The Structure Of An Economy Will Shape The Direction Of Change And Gradually Alter The Institutional Framework. He Then Explains How Institutional Development May Lead To A Pathdependent Pattern Of Development. In The Final Part Of The Book, North Explains The Implications Of This Analysis For Economic Theory And Economic History. He Indicates How Institutional Analysis Must Be Incorporated Into Neoclassical Theory And Explores The Potential For The Construction Of A Dynamic Theory Of Longterm Economic Change. Douglass C. North Is Director Of The Center Of Political Economy And Professor Of Economics And History At Washington University In St. Louis. He Is A Past President Of The Economic History Association And Western Economics Association And A Fellow, American Academy Of Arts And Sciences. He Has Written Over Sixty Articles For A Variety Of Journals And Is The Author Of The Rise Of The Western World: A New Economic History (Cup, 1973, With R.P. Thomas) And Structure And Change In Economic History (Norton, 1981). Professor North Is Included In Great Economists Since Keynes Edited By M. Blaug (Cup, 1988 Paperback Ed.)

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Frequently Asked Questions

  • Q: What is the main focus of 'Institutions, Institutional Change and Economic Performance'? A: The book analyzes how institutions and their changes impact economic performance over time, exploring the relationship between economic structures and institutional frameworks.
  • Q: Who is the author of the book and what are his credentials? A: The author is Douglass C. North, a Professor of Economics and History at Washington University in St. Louis, and a past president of the Economic History Association.
  • Q: What key topics are covered in the book? A: The book covers the nature of institutions, transaction costs, institutional change, incentive structures, and the implications for economic theory and history.
  • Q: Is this book suitable for those studying economic history? A: Yes, the book is categorized under Economic History and is ideal for readers interested in the intersection of institutions and economic performance.
  • Q: What condition is the book in and what does 'Used Book in Good Condition' mean? A: The book is listed as 'Used Book in Good Condition', indicating that it may have minor wear but is generally in good shape for reading.
  • Q: When was 'Institutions, Institutional Change and Economic Performance' published? A: The book was published on October 26, 1990.
  • Q: How many pages does the book contain? A: The book contains 159 pages.
  • Q: What type of binding does the book have? A: The book has a paperback binding.
  • Q: What are some key features of the book? A: Key features include its analytical framework for understanding institutions and their impact on economic growth, as well as its exploration of institutional change.
  • Q: Can this book help in understanding long-term economic change? A: Yes, the book discusses how institutional analysis can be integrated into economic theory, providing insights into long-term economic development.