Institutions and Transnationalization

Abstract

At a first level, the notions of ‘institutions' and ‘globalization' could appear to exclude oroppose each other. The notion of institution suggests stability or at least an attempt at stabilization. An institutionalist perspective startsfrom the basic recognition that human activities, including activities of an economic nature, are embedded and framed within larger institutional schemes that are, on the whole, quitestable (Weber 1978; Polanyi 1944). A core dimension of the institutionalist project has been to understand how embeddedness matters, how institutions constrain and structure action, create regularities and stability, limitingat the same time the range of options and opportunities. In contrast, the process of globalization is often associated with the breakdown of traditional rules of the game andinstitutions, in particular through the weakening of national states and their order-creating capacities. [First lines]

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