Institutions, Contracts and Organizations : Perspectives from New Institutional Economics

Abstract

This work presents contributions from leading economists, including Ronald Coase, Douglass North, Masahiko Aoki, Oliver E. Williamson, and Harold Demsetz, and demonstrates the extent of the New Institutional Economics research programme. It lays out the fundamental dimensions of the research programme, placing emphasis on the interaction between institutional factors, both formal and informal, and the performance of different arrangements that organize transactions. It presents conflicting and perhaps controversial views on the sources of growth, placing special emphasis on organizations and transactions, focusing on issues of trust, corruption, enforcements of contract and modes of organizations.

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