Five Propositions about Institutional Change

Douglass C. North

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Economic Theory and Institutions Management and Organizational Studies Culture, Economy, and Development Studies

Abstract

This paper presents and discusses the five propositions about institutional change, and then proposes a specific research agenda based on a transaction cost theory of political markets.

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1985Clio and the economics of QWERTY 1986Rationality in Psychology and Economics 1981Why Isn't the Whole World Developed?

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