Institutions, Institutional Change and Economic Performance

  title={Institutions, Institutional Change and Economic Performance},
  author={Douglass Cecil North},
  • D. North
  • Published 1 November 1991
  • Economics
Examines the role that institutions, defined as the humanly devised constraints that shape human interaction, play in economic performance and how those institutions change and how a model of dynamic institutions explains the differential performance of economies through time. Institutions are separate from organizations, which are assemblages of people directed to strategically operating within institutional constraints. Institutions affect the economy by influencing, together with technology… 
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