New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.
Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Fieming-Mundell model?
Political Economy of Transition and Development collects the proceedings of an international conference that brought the leading thinkers in this field to the Center for European Integration Studies of the University of Bonn in May, 2002. The contributions analyze the various interactions between institutions, policy choices, economic developments, and political outcomes in transition and developing countries. The first five chapters give a relatively broad assessment of the various reform paths and outcomes in the transition and developing countries. The remaining eight chapters proceed to analyze important aspects of transition such as voting behavior, political-regime choice, corruption, social capital, growth and inequality, and EU enlargement. The resulting volume thus combines a bird's eye perspective with a relatively narrow focus on selected key issues pertaining to the ongoing transition process in Central and Eastern Europe.
It is increasingly accepted that 'institutions matter' for economic organization and outcomes. The last decade has seen significant expansion in research examining how institutional contexts affect the nature and behaviour of firms, the operation of markets, and economic outcomes. Yet 'institutions' conceal a multitude of issues and perspectives. Much of this research has been comparative, and followed different models such as 'varieties of capitalism', 'national business systems', and 'social systems of production'. This Handbook explores these issues, perspectives, and models, with the leading scholars in the area contributing chapters to provide a central reference point for academics, scholars, and students.
On October 1, 2019, the People's Republic of China (PRC) will celebrate the 70th anniversary of its founding. And what an eventful and tumultuous seven decades it has been! During that time, under the leadership of the Chinese Communist Party (CCP), China has been transformed from one of world's poorest countries into one of its fastest growing economies, and from a weak state barely able to govern or protect its own territory to a rising power that is challenging the United States for global influence. But in the late 1950s, the PRC experienced the most deadly famine in human history, caused largely by the actions and inactions of its leaders. Not long after, there was a collapse of government authority that pushed the country to the brink of (and in some places actually into) civil war and anarchy. And in 1989, the CCP unleashed the army to brutally crush demonstrations by students and others calling for political reform. China is now, for the most part, peaceful, prospering, and proud. The CCP maintains a firm grip on power through a combination of harsh repression and popular support largely based on its recent record of promoting rapid economic growth. Yet, the party and country face serious challenges on many fronts, including a slowing economy, environmental desecration, pervasive corruption, extreme inequalities, ethnic unrest, and a rising tide of social protest. Politics in China provides an accessible yet authoritative introduction to how the world's most populous nation and rapidly rising global power is governed today. The third edition has been extensively revised, thoroughly updated, and includes a new chapter on the internet and politics in China. The book's chapters provide overviews of major periods in China's modern political history from the mid-nineteenth century to the present, examinations of key topics in contemporary Chinese politics, and analyses of developments in four important areas located on China's geographic periphery: Tibet, Xinjiang, Hong Kong, and Taiwan.
This book is a theoretical and empirical analysis of institutional foundation of long-term economic growth from the perspective of state-market and central-local relations. The book argues that, in order to safeguard sustainable market development, it is necessary to centralize certain functions of the state to overcome local predatory governmental rulings, and to decentralize others to increase local governmental market incentives, simultaneously. This institutional approach is conceptualized as “Dual Intergovernmental Transformation for Market Development” (DITMD). This book develops the DITMD model through an in-depth empirical comparison on contemporary China and the 19th-century United States.