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Institutional Diversity in Banking
by Ewa MiklaszewskaThis book offers a comparative analysis of how post-crisis restructuring has affected the evolution and prospects of small, locally-oriented banks. The discussion focuses specifically on "small" European countries; that is, countries with diversified banking systems, with a strong presence of cooperative and other forms of local banks. Such countries include highly developed economies like Italy and emerging European economies, such as Poland. The authors stress the unique importance of local banks in generating credit for both households and firms, and hence in contributing to overall economic growth. Chapters cohere around the argument that although smaller banks fared better than their larger counterparts the recent financial crisis, they have been directly and indirectly discriminated against in post-crisis restructuring schemes, and, as such, face many operational and strategic challenges today. The contributors are a distinguished group of researchers with expert knowledge of the competitive positions of and opportunities for locally oriented banks, who combine theoretical and empirical perspectives on these topics.
The Institutional Dynamics of China's Great Transformation (China Policy Series)
by Xiaoming HuangThis book examines the role of institutions in China’s recent large-scale economic, social and political transformation. The book argues that, although the importance of institutions in China’s rapid economic growth and social development over the past 30 years is widely acknowledged, exactly how institutions affect changes in particular national and historical settings is less well understood. Unlike existing literature, it offers perspectives from a variety of disciplines - including law, economics, politics, international relations and communication studies – to consider whether institutions form, evolve and change differently according to their historical or cultural environments and if their utilitarian functions can, and should be, observed, identified and measured in different ways. The book discusses China’s political and legal institutions; the international institutions with which China engages; institutions promoting science and technology; media companies; and local institutions including the household registration system. It also examines how institutions themselves have been formed, changed and re-formed over recent decades, and suggests theoretical and methodological adjustments in institutional analysis to allow a fuller understanding of the institutional dynamics of China’s transformation.
Institutional Economics: Veblen, Commons, and Mitchell Reconsidered
by C. E. Ayres Neil W. Chamberlain Joseph Dorfman R. A. Gordon Simon KuznetsThis 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 Economics (Routledge Frontiers of Political Economy)
by Bernard ChavanceThis introduction to institutional economics, follows the history of the field since the early 20th century until the present day. It concentrates on influential authors in the main schools of institutional economics. Institutional economics is defined as economic thought that considers institutions to be relevant for economic theory, and consequently criticizes the neoclassical mainstream for having pushed them out of the discipline; it deals specially with the nature, the origin, the change of institutions, and their effects on economic performance. It is a family of different theories that were initially influential in economics, then lost much of their weight in the middle half of the 20th century, and eventually recovered significant creative vitality and impact in the last twenty years. The book puts the recent developments in historical perspective by showing how important themes like the importance of habits, the role of formal and informal rules, the relation of organizations and institutions, the hierarchy and complementarity of institutions, the evolutionary character of institutional change, have been explored by various authors or schools.
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: 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: 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: 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 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.
The Institutional Economics of Russia's Transformation
by Anton N. OleinikThis book applies institutional theory to the analysis of the post-Soviet Russian economy to bring to light the reasons why reforms have gone awry. Emphasis is put on the elements missed in the early blueprints of reforms: constraints embodied in formal and especially informal institutions. Other aspects considered include the dominant model of power relationships and the networks of localized and personalized relationships among economic actors. The first part provides a general description of the core concepts of institutional theory, including both the 'old' institutionalism of T. Veblen and J. Commons and the 'new' institutional economics of R. Coase, O. Williamson and D. North, and in the second part an institutional model of the post-Soviet Russian economy is developed. In the course of the analysis the authors discuss such unresolved issues as post-privatization development in Russia and validity of the Coase theorem in the post-Soviet institutional context. Rich empirical data grounds the discussion throughout.
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.
The Institutional ETF Toolbox
by Eric BalchunasInstitutional usage of ETFs is growing as fast as ETFs themselves, with ETF allocations expected to keep growing rapidly across all institution types, with nearly half of institutions currently using ETFs saying they expect to expand use in the next year. Though institutions use ETFs for a myriad of purposes both strategic and tactical, they are also interested in the innovative products that have come out that have allowed them to express investment opinions more easily and precisely than ever. Over 700 new ETFs have been launched this decade so far -- more than the last the last two decades combined -- expanding into areas of particular appeal to institutions. But with this expansion comes concerns, as well. With data-driven content, real market examples, and visuals with the voice of institutional managers spliced in, the book will address: The uses of ETFs, in particular cash equitization, portfolio rebalancing, and liquidity management The expanding areas for ETFS, including fixed income, emerging markets, and alternatives The major concerns surrounding ETFs, particularly with regard to unwanted costs, taxation complexities, and toxic products The future of ETFs, including new regulations, virtual asset ETFs, and single-stock ETFs With data-driven content, real market examples and visuals, The Institutional ETF Toolbox will give actionable information to institutions by looking at how other institutions use ETFs and illuminiating the best approach.
Institutional Factors and Financial Sector Development: Evidence from Sub-Saharan Africa
by George C. Anayiotos Hovhannes ToroyanA report from the International Monetary Fund.
The Institutional Framework of Russian Serfdom
by Tracy DennisonRussian rural history has long been based on a 'Peasant Myth', originating with nineteenth-century Romantics and still accepted by many historians today. In this book, Tracy Dennison shows how Russian society looked from below, and finds nothing like the collective, redistributive and market-averse behaviour often attributed to Russian peasants. On the contrary, the Russian rural population was as integrated into regional and even national markets as many of its west European counterparts. Serfdom was a loose garment that enabled different landlords to shape economic institutions, especially property rights, in widely diverse ways. Highly coercive and backward regimes on some landlords' estates existed side-by-side with surprisingly liberal approximations to a rule of law. This book paints a vivid and colourful picture of the everyday reality of rural Russia before the 1861 abolition of serfdom.
Institutional Frameworks and Labor Market Performance: Comparative Views on the US and German Economies
by Friedrich Buttler Wolfgang Franz Ronald Schettkat David SoskiceInstitutional 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.
An Institutional History of Italian Economics in the Interwar Period — Volume I: Adapting to the Fascist Regime (Palgrave Studies in the History of Economic Thought)
by Fabrizio Bientinesi Massimo M. Augello Marco E. L. GuidiItaly is well known for its prominent economists, as well as for the typical public profile they have constantly revealed. But, when facing an illiberal and totalitarian regime, how closely did Italian economists collaborate with government in shaping its economic and political institutions, or work independently? This edited book completes a gap in the history of Italian economic thought by providing a complete work on the crucial link between economics and the Fascist regime, covering the history of political economy in Italy during the so-called “Ventennio” (1922-1943) with an institutional perspective. The approach is threefold: analysis of the academic and extra-academic scene, where economic science was elaborated and taught, the connection between economics, society and politics, and, dissemination of scientific debate. Special attention is given to the bias caused by the Fascist regime to economic debate and careers. This Volume I deals with the economics profession under Fascism, in particular in light of the political and institutional changes that the regime introduced, the restructuring of higher education, the restriction of freedom in teaching and of the press, and with respect to promoting its own strategies of political and ideological propaganda. Volume II (available separately) considers the public side of the economics profession, the “fascistisation” of culture and institutions, banishment and emigration of opponents, and post-WW2 purge of Fascist economists.
An Institutional History of Italian Economics in the Interwar Period — Volume II: The Economics Profession and Fascist Institutions (Palgrave Studies in the History of Economic Thought)
by Massimo M. Augello Marco E. L. Guidi Fabrizio BientinesiItaly is well known for its prominent economists, as well as for the typical public profile they have constantly revealed. But, when facing an illiberal and totalitarian regime, how closely did Italian economists collaborate with government in shaping its economic and political institutions, or work independently? This edited book completes a gap in the history of Italian economic thought by addressing in a comprehensive way the crucial link between economics and the fascist regime, covering the history of political economy in Italy during the so-called “Ventennio” (1922-1943) with an institutional perspective. The approach is threefold: analysis of the academic and extra-academic scene, where economic science was elaborated and taught, the connection between economics, society and politics, and the dissemination of scientific debate. Special attention is given to the bias caused by the Fascist regime to economic debate and careers. This Volume II looks at the role that economists played in society and in politics, and how this was played. In exploring the public side of the profession and the “fascistisation” of institutions, this book also examines academic epuration and emigration, and the post-WW2 purge of fascist economists. Volume I (available separately) explores how the economics profession was managed under fascism, the restructuring of higher education, the restriction of freedom in teaching and of the press, and various fascist cultural and propaganda initiatives.
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.