The New Institutional Economics: Taking Stock, Looking Ahead

@article{Williamson2000TheNI,
  title={The New Institutional Economics: Taking Stock, Looking Ahead},
  author={O. Williamson},
  journal={Journal of Economic Literature},
  year={2000},
  volume={38},
  pages={595-613}
}
  • O. Williamson
  • Published 2000
  • Economics
  • Journal of Economic Literature
This paper examines the progressive development of the new institutional economics over the past quarter century. It begins by distinguishing four levels of social analysis, with special emphasis on the institutional environment and the institutions of governance. It then turns to some of the good ideas out of which the NIE works: the description of human actors, feasibility, firms as governance structures, and operationalization. Applications, including privatization, are briefly discussed… Expand
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