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Institutional Economics and National Competitiveness (Routledge Frontiers Of Political Economy Ser. #150)
by Young Back ChoiThis book offers a strong contribution to the growing field of institutional economics, going beyond the question of why institutions matter and examines the ways in which different types of institutions are conducive to the enhancement of competitiveness and economic development. Adopting a variety of approaches, ranging from New Institutional Economics, Public Choice, Constitutional Political Economy and Austrian Economics, to more traditional economic approaches, contributors examine the important issues of interest to development economics. This book asks whether democracy is a pre-condition for economic development, what the proper role of government is in the age of globalization and whether successful government led policies were the cause of South Korea’s economic development. As well as these key questions, the book covers the issues of whether the government should rely on the market process to encourage economic development or must they interfere, and by what criteria one can judge a proposal for policies for economic prosperity. The book tries to make a contribution by introducing a variety of perspective, some argue in favour of industrial policies while others argue for a lesser role for the government and a greater entrepreneurial freedom. Some question the wisdom of promoting democracy as a necessary condition for economic development while others argue that political liberalization is the basis of lasting competitive edge of an economy. The book should be of great interest to students and researchers in need of a multi-perspective collection covering several approaches to the issues of institutional economics and national competition.
Institutional Economics: An Introduction
by Stefan VoigtWhy 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.
Institutional Economics: Its Place in Political Economy, Volume 1
by John R. CommonsCommons opened Institutional Economics by declaring: ""My point of view is based on my participation in collective activities, from which I here derive a theory of the part played by collective action in control of individual action."" This sentence well summarizes the three key elements of this book--its theoretical intent, the importance Commons gave to his own experience in institutional reform in shaping these ideas, and the focus on the concept of the institution as a collective constraint on individual action.
Institutional Economics: Its Place in Political Economy, Volume 2
by Malcolm RutherfordFirst Published in 2017. Routledge is an imprint of Taylor & Francis, an Informa company.
Institutional Economics: Perspectives and Methods in Pursuit of a Better World
by Charles J. WhalenInstitutional economics is a sociocultural discipline and policy science which draws on the idea that economies are best understood through an appreciation of history, real-world institutions, and socioeconomic interrelations. This book brings together leading institutionalists to examine the tradition’s most essential perspectives and methods. The contributors to the book draw on a broad range of institutional thought from the classic work of Thorstein Veblen, John R. Commons, and Karl Polanyi, to the newer viewpoints of post-Keynesian institutionalism, feminist institutionalism, and environmental institutionalism. Methods range from frameworks used to analyze public policy and institutional change, to modes of analysis including myth busting, historically grounded narratives, and computer-based simulations. Each chapter surveys the origins, development, key features, applications, and frontiers of a particular viewpoint, framework, or mode of analysis. Due consideration is given to both strengths and weaknesses; and woven into the chapters is attention to core institutionalist concepts, including technology, institutions, culture, and complexity. The book provides economists with promising starting points for new research, students with contributions refreshingly in touch with the real world, and policymakers and social scientists with compelling reasons for engaging further with the institutionalist tradition.
Institutional Economics: Theory and Practice
by James I. SturgeonInstitutions are the controlling force at the center of any economy. They organize and control all economic activity from markets to producers, consumers to governments, and more. Institutions determine how fundamental economic questions such as, what, how, and for whom, are answered. Thus, scientific analysis of economic activity requires a deep and systematic understanding of institutions. This much-needed text provides students with a comprehensive introduction to the increasingly influential field of Institutional economics. Across its ten chapters, it unpacks the history, theory, applications, policies, and methods of Institutional economics, carefully blending theoretical, conceptual and empirical elements that together illuminate the complexity of the modern economy. Topics covered include production, consumption, class and distribution, development, value theory, and specific institutions including the corporation, property, labor, and government. Each chapter concludes with selected questions or issues posed as a basis for class discussion and further research. Written in a lively and accessible style for students new to the topic, this book is set to become the go-to resource for classes on institutional economics across the world.
Institutional Economics: Veblen, Commons, and Mitchell Reconsidered
by Simon Kuznets C. E. Ayres Neil W. Chamberlain Joseph Dorfman R. A. GordonThis title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1963.
Institutional Entrepreneurship and Policy Change
by Caner Bakir Darryl S. JarvisThis book is about the role of agents in policy and institutional change. It draws on cross-country case studies. The focus on ‘agency’ has been an important development, enabling researchers to better reveal the causal mechanisms generating institutional change (i.e., how institutional change actually takes place). However, past research has generally been limited to specific intellectual silos or scholarly domains of inquiry. Policy scholars, for example, have tended to focus on the various mechanisms and levels at which agency operates, drawing on institutionalist perspectives but not always actively contributing to institutionalist theory. Institutionalist perspectives, by contrast, have tended to operate at macro-levels of enquiry, embracing the ontological primacy of institutions in processes of isomorphism but not necessarily contributing to or embracing policy perspectives that engage in more granular analyses of policy making processes, implementation, and the instantiation of institutional and policy change. Despite the obvious complementarities of these two intellectual traditions, it is surprising how little collaborative work, or indeed cross fertilization of theory and analytical design has occurred. The core novelty of this volume is thus its focus on agential actors within institutional settings and processes of entrepreneurship that facilitate isomorphism and policy change. The book’s theoretical framework is grounded in variants of institutional theory, especially historical, sociological and organisational institutionalism and policy entrepreneurship literature. The overall conclusion is that that both institutionalists and public policy scholars have largely overlooked the importance of complex interactions between interdependent structures, institutions, and agents in processes of institutional and policy change.
Institutional Factors and Financial Sector Development: Evidence from Sub-Saharan Africa
by George C. Anayiotos Hovhannes ToroyanA report from the International Monetary Fund.
Institutional Frameworks and Labor Market Performance: Comparative Views on the US and German Economies
by David Soskice Ronald Schettkat Friedrich Buttler Wolfgang FranzInstitutional Frameworks and Labor Market Performance produces an in-depth analysis of the functioning of various labor market institutions in both the USA and Germany. Particular emphasis is given to the substantial differences between the US and Germany in the ways important areas are regulated. The authors show that the impact of institutions on economic performance is ambivalent. They argue that in this sense, the decision is not one between regulation and deregulation but rather one between different degrees and forms of regulation.
Institutional Genes: Origins of China's Institutions and Totalitarianism
by Chenggang XuThis book explores the origins and evolution of China's institutions and communist totalitarianism in general. Contemporary China's fundamental institution is communist totalitarianism. Introducing the concept of “institutional genes” (IGs), the book examines how the IGs institutional genes of Soviet Russia merged with those of the Chinese imperial system, creating a durable totalitarian regime with Chinese characteristics – Regionally Administered Totalitarianism. Institutional Genes are fundamental institutional elements that self-replicate and guide institutional changes and are empirically identifiable. By analyzing the origins and evolution of IGs institutional genes in communist totalitarianism from Europe and Russia, as well as those from the Chinese Empire, the Chinese Communist Revolution, the Great Leap Forward, the Cultural Revolution, and post-Mao reforms, the book elucidates the rise and progression of communist totalitarianism in China. The ascent of communist China echoes Mises' warning that efforts to halt totalitarianism have failed. Reversing this trend necessitates a thorough understanding of totalitarianism.
Institutional Impacts on Firm Internationalization
by Svetla MarinovaInstitutional Impacts on Firm Internationalization addresses various aspects of the investigated phenomenon, providing an insight in the role of the varieties of capitalism on the globalization of business activities worldwide.
Institutional Inequality and the Mobilization of the Family and Medical Leave Act
by Catherine R. AlbistonHow do Family and Medical Leave Act rights operate in practice in the courts and in the workplace? This empirical study examines how institutions and social practices transform the meaning of these rights to recreate inequality. Workplace rules and norms built around the family wage ideal, the assumption that disability and work are mutually exclusive, and management's historical control over time all constrain opportunities for social change. Yet workers can also mobilize rights as a cultural discourse to change the social meaning of family and medical leave. Drawing on theoretical frameworks from social constructivism and new institutionalism, this study explains how institutions transform rights to recreate systems of power and inequality but at the same time also provide opportunities for law to change social structure. It provides a fresh look at the perennial debate about law and social change by examining how institutions shape the process of rights mobilization
Institutional Inertia: Theory and Evidence (Contributions to Economics)
by Nezameddin Faghih Ali Hussein SamadiThis edited volume explores the concept of institutional inertia and its relationship to economic growth and development. Including insights from experts across disciplines, chapters identify the types, causes and effects—both positive and negative—of institutional inertia. By questioning the types of institutional inertia that improve economic performance and impact the effectiveness of the state, as well as studying their role in the dynamics of institutional change, the volume attempts to trace and understand the different evolutionary paths of societies. Bridging important research gaps, this volume will be of use to students, researchers, and practitioners of institutional and evolutionary economics, development economics, management, and organizational theory.
Institutional Innovation and Change in Value Chain Development: Negotiating tradition, power and fragility in Afghanistan (Routledge Studies in Development Economics)
by Holly A. RitchieGeorge Bernard Shaw once said that reasonable people adapt themselves to the world but unreasonable people adapt the world to themselves. In a sense, this book explores how these so-called ‘unreasonable people’ may interact to re-fashion the world around them in fragile economic development. Drawing on empirical research in the volatile and traditional context of Afghanistan, the study investigates the challenge of poor women’s participation in business and diverse outcomes for local development. Institutional Innovation and Change in Value Chain Development takes a unique look at nuanced institutional phenomena through the lens of social institutions, with a subtle appreciation of the interaction of structure and agency. Drawing on in-depth qualitative research in Afghanistan, the case studies specifically investigate the transformation of the women’s norm of purdah, and the subsequent development of new market institutions in three women’s enterprises. Shedding new light on the opaque process of institutional change, the research shows that external actors (such as NGOs) can both initiate and guide institutional development in fragile environments. Yet there may be limitations to their endeavours, with strong resistance from local power holders. Meanwhile, dominant entrepreneurs are shown to play a major role in fostering institutional development pathways. This influences the scope of inclusion and exclusion in enterprise and value chains, and broader streams of socio-economic development.
Institutional Intelligence: How to Build an Effective Organization
by Gordon T. SmithWe tend to view institutions cynically, but they are essential to human flourishing and thriving communities. Focusing on the non-profit sector, Gordon Smith unpacks the core of institutional intelligence, showing team leaders, directors, executives, board members, and employees how to work effectively within the institutional character of their organizations.
Institutional Interaction: Studies of Talk at Work (Directions in Ethnomethodology and Conversation Analysis)
by Ilkka ArminenInstitutional Interaction focuses on talk and interaction in institutional contexts. The first systematic book-length study on this expanding area, it discusses the theory and methodology of conversation analysis, focusing on studies of institutional interaction, before examining the basics of institutional interaction in selected fields. Cutting-edge new applications are assessed, such as human-computer interaction, the role of ethnography, statistics and the relationship of institutional talk to ordinary talk. Accessibly written and carefully structured to provide a sophisticated introduction to conversation analysis applied in institutional settings, the book offers a wealth of examples ranging from the classroom, to the courtroom, to the doctor's surgery. The book also features helpful suggestions for further reading, designed to appeal to students and academics in socio-linguistics, social psychology, organizational studies, management and information systems and applied linguistics.
Institutional Investment Management
by Frank J. FabozziThe most comprehensive coverage of institutional investment management issues This comprehensive handbook of investment management theories, concepts, and applications opens with an overview of the financial markets and investments, as well as a look at institutional investors and their objectives. From here, respected investment expert Frank Fabozzi moves on to cover a wide array of issues in this evolving field. From valuation and fixed income analysis to alternative investments and asset allocation, Fabozzi provides the best in cutting-edge information for new and seasoned practitioners, as well as professors and students of finance. Contains practical, real-world applications of investment management theories and concepts Uses unique illustrations of factor models to highlight how to build a portfolio Includes insights on execution and measurement of transaction costs Covers fixed income (particularly structured products) and derivatives Institutional Investment Management is an essential read for anyone who needs to hone their skills in this discipline.
Institutional Investors
by E. Philip Davis Benn SteilOne of the most important recent developments in financial markets is the institutionalization of saving associated with the growth of pension funds, life insurance companies, and mutual funds.
Institutional Islamic Economics and Finance (Islamic Business and Finance Series)
by Ahsan ShafiqInstitutional economics claims that institutions and policies rather than the size of labour force, technology or capital investment are pivotal for growth or under-development. In this regard there are two kinds of institutions: external institutions expressed in the form of laws, organisations, regulations, companies, banks and the like and internal institutions, which are found in the hearts and consciences of individuals. Against this backdrop, this book acquaints readers with the basic concepts related to institutional economics. It then brings to light the theoretical concepts related to the institutional perspectives on Islamic economics, particularly highlighting areas where Islamic economic institutions lay at the crossroads with conventional ones. The book also ref lects upon the organisational arrangements that comply with the basic tenets of Islamic institutional economics. Further, it brings a collection of real-world case studies into discussion to show the models of Islamic institutions that are pragmatic in today’s business environment. The book contains novel dimensions on the subject, includes conceptual debates as well as practical examples and explores hot topics such as waqf and fintech from an Islamic perspective. This is the first book to exclusively cover this topic and is written by well-known and respected international economists from the field. Since the book is written in an accessible style and the concepts are expressed in plain language, it will find an audience among academics, researchers and students in economics and Islamic economic studies, as well as policymakers and professionals engaged in the Islamic finance industry, seeking to make their services and products conform to an Islamic institutional perspective.
Institutional Learning and Knowledge Transfer Across Epistemic Communities
by Elias G. Carayannis Ali Pirzadeh Denisa PopescuOver the past several decades, as the pace of globalization has accelerated, operational issues of international coordination have often been overlooked. For example, the global financial crisis that began in 2007 is attributed, in part, to a lack of regulatory oversight. As a result, supranational organizations, such as the G-20, the World Bank, and the International Monetary Fund, have prioritized strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions. Prevailing characteristics of the global economic systems, such as the increasing power of financial institutions, changes in the structure of global production, decline in the authority of nation-states over their national economy, and creation of global institutional setting, e.g., global governance have created the conditions for a naturally evolving process towards enabling national epistemic communities to create institutions that comply with global rules and regulations can control crises. In this context, transfer of technical knowledge from the larger organizations and its global epistemic communities to member communities is becoming a policy tool to "convince" participants in the international system to have similar ideas about which rules will govern their mutual participation. In the realm of finance and banking regulation, the primary focus is on transfer of specialized and procedural knowledge in technical domains (such as accounting procedures, payment systems, and corporate governance principles), thereby promoting institutional learning at national and local levels. In this volume, the authors provide in-depth analysis of initiatives to demonstrate how this type of knowledge generated at the international organization level, is codified into global standards, and disseminated to members, particularly in the developing world, where the legal and regulatory infrastructure is often lacking. They argue that despite the challenges, when a country intends to join the global system, its institutions and economic structures need to move toward the global norms. In so doing, they shed new light on the dynamics of knowledge transfer, financial regulation, economic development, with particular respect to supporting global standards and avoiding future crises.
Institutional Logics within Faith-Based Aid: A New Approach to Organising in Development, Humanitarianism and Advocacy (Routledge Research in Religion and Development)
by Nina G. KurlbergThis book investigates what faith means in the actual day-to-day practice of faith-based NGOs working in the development, humanitarian, and advocacy sectors.Faith-based organisations play an extremely prominent role in international aid and development, operating within the same sphere as organisations without an explicit religious affiliation. This book uses the case study of a UK-based Christian faith-based organisation to develop an analytic tool using institutional logics. Through exploration of how various institutional logics are manifested and negotiated across organisational practice, the book describes how the ‘telos,’ or objective, of the corporate logic (to sustain the organisation) interacts with the telos of the religious logic (namely, to worship God). The book demonstrates that since organisational practices must ultimately work to sustain the organisation, at the organisational level faith is restricted to certain spaces and forms, while at the individual level faith is dominant and active.Bringing a fresh perspective to discussions of religion and development by highlighting how faith influences development at the organisational level, this book will be an important read for researchers working on global development.
Institutional Money Management
by David M. Smith Hany A. ShawkyAn informative look at institutional investment management methods and practiceThe policies, practices, and decisions of institutional investment managers worldwide affect the economic health of not only the institutions themselves, but of countless individual clients as well. Overall, this area of finance has great impact on the capital markets. Filled with in-depth insights and practical advice, Institutional Money Management is an important basis of knowledge regarding both the theory and practice of this ever-evolving area of finance.Part of the Robert W. Kolb Series in Finance, this book on institutional investment management showcases contributed chapters from professional and academic experts in banking, insurance companies, mutual funds, pension funds, and endowments. Along the way, issues covered included everything from the role of institutional investors within the financial system and the structures that have emerged and evolved to industry standards of ethical practice and investment performance presentation.Provides a detailed examination of the objectives, constraints, methods, and stakeholders for the dominant types of institutional investorsFocuses on the portfolio management strategies and techniques used by institutional investorsContains contributed chapters from numerous thought-leaders in the field of financeThe practice of institutional investment management presents a diverse set of challenges. But with this book as your guide, you'll gain a better understanding of how you can overcome these challenges and manage your portfolio more effectively.
Institutional Ownership and Multinational Firms: Relationships to Social and Environmental Performance (Transnational Business and Corporate Culture)
by James J. KennellyThis study represents a rare empirical test of the assertions of critics of multinational corporations (MNCs), who argue that firm-level social and environmental performance suffers as MNCs grow increasingly mobile and subject to the short-term financial demands of institutional investors. Such critics argue that 'footloose' and 'stateless' MNCs have not only divorced themselves from a particular sense of responsibility to their home countries, but have also fallen increasingly under the sway of the 'myopic' demands of institutional investors.Using multiple regression analysis, the study considered the impact of various levels of multinationality and institutional ownership on the social and environmental performance of US-based manufacturing companies. Based on this empirical analysis, the radical critique of MNCs was not supported. Rather, the level of multinationality of firms was positively associated with social and environmental performance in the home country. This is a far cry from the demonized view of MNCs proffered by the critics. These findings suggest the possibility that MNCs may even have a positive influence on the development of a global economy that is consistent with the values and intent of vision of sustainable development. Ultimately, the study suggest that at a minimum, more attention should be paid to utilizing talents and competencies of MNCs in support of furthering positive social and environmental agendas.(Ph.D. dissertation, New York University, 1996; revised with new preface and index)