کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5092632 1375945 2010 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Institutional flexibility and economic growth
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Institutional flexibility and economic growth
چکیده انگلیسی

This paper develops a formal model to investigate the relationship between institutional quality - the current set of property rights - and institutional flexibility - the ability to develop new institutions - and relate these aspects of institutional structure to dynamic economic performance. The model is used to analyze two types of institutional reform. An increase in institutional quality lowers market transaction costs, producing an immediate but short lived increase in the rate of economic growth. In contrast, an increase in institutional flexibility results in a delayed but permanent increase in economic growth. The analysis suggests that the current work on institutions places too much emphasis on property rights and too little on the determinants of institutional change.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Comparative Economics - Volume 38, Issue 3, September 2010, Pages 306-320
نویسندگان
,