Advanced Introduction to New Institutional Economics by Mary M. Shirley (English

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Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world'Äôs leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.New institutional economics (NIE) is a powerful tool for understanding real world phenomena. This Advanced Introduction explores NIE'Äôs answers to fundamental questions about the organization, growth and development of economies, such as why are some countries rich and others poor? Why are activities organized as firms or markets or through alternative organizational solutions? When are shared resources overexploited?Key Features:Elucidates the essence of NIE'Äôs main branches, focusing on thegovernance of transactions and organizations (identified with OliverWilliamson), the fundamental institutional environment (DouglassNorth), and the role of communal institutions and collective action (ElinorOstrom)Explores how NIE has transformed perspectives on collective action, stateand legal institutions, public policy and regulation, and economic growthExtensive references to allow interested readers to dive deeper into specific topicsAuthored by scholars associated early on with leading figures in NIE and the development of NIE'Äôs research agenda.This Advanced Introduction is an ideal read for advanced students of economics, political science, management, law and sociology interested in learning about new institutional economics. Policy makers, especially those responsible for business and utility regulation and development policy and assistance, will also benefit from this concise yet detailed book.

FORMATHardcover LANGUAGEEnglish CONDITIONBrand New Author Biography

Claude Ménard, Professor of Economics, Centre d'Economie de la Sorbonne, Université de Paris (Panthéon-Sorbonne), France and Mary M. Shirley, President, The Ronald Coase Institute, US

Table of Contents

Contents: Preface 1. Building a new paradigm 2. Transaction costs 3. Property rights 4. Contracts PART II INSTITUTIONAL LAYERS 5. The organization of transactions 6. State and legal institutions PART III TRANSVERSAL TOPICS 7. Institutions and public policy 8. Institutional change and development 9. Entering new terrains: the future of NIE Bibliography Index

Review

'ÄòThis¬†Advanced Introduction provides a terrific exposition of New Institutional Economics. The foundations of transaction costs, property rights, and contracting produce applications concerning institutions large and small, covering a substantial share of economic activity. Much of the world's economic progress and institutional change will rely on these ideas.'Äô -- 'Äì Robert Gibbons, Massachusetts Institute of Technology, US'ÄòMany trees planted by the New Institutional Economics are thriving in the mainstream of the social sciences, but it is easy to lose track of the NIE forest. This indispensable and authoritative book comes to the rescue, synthesizing a vast literature, covering many domains of human interaction and showing that a society's success rests on the institutional choices made by its members.'Äô -- 'Äì Philip Keefer, Inter-American Development Bank, US'ÄòNow, for the first time, we have a comprehensive guide to the new institutional economics and allied fields. This Advanced Introduction covers topics such as transactions cost, property rights, contracts, organizations, and state and legal institutions; plus two 'Äútransversal topics'Äù, institutions and public policy and institutional change and development. A must read for both students and professionals.'Äô -- 'Äì Barry Weingast, Stanford University, US'ÄòNIE is one of the economic fields whose influences go far beyond the borders of economics. But it is also an often misunderstood field. This introductory book, written by two veteran experts of NIE, is a timely work to acquaint the reader with the main concepts and approaches of NIE. It should be read by anyone who is about to study institutional issues within and outside economics.'Äô -- 'Äì Yang Yao, Peking University, China

Review Quote

'This Advanced Introduction provides a terrific exposition of New Institutional Economics. The foundations of transaction costs, property rights, and contracting produce applications concerning institutions large and small, covering a substantial share of economic activity. Much of the world's economic progress and institutional change will rely on these ideas.'

Details ISBN178990448X Author Claude Ménard Language English Year 2022 ISBN-10 178990448X ISBN-13 9781789904482 Format Hardcover Publisher Edward Elgar Publishing Ltd Series Elgar Advanced Introductions series Imprint Edward Elgar Publishing Ltd Place of Publication Cheltenham Country of Publication United Kingdom Pages 200 Publication Date 2022-01-18 AU Release Date 2022-01-18 NZ Release Date 2022-01-18 UK Release Date 2022-01-18 DEWEY 330.1552 Audience Tertiary & Higher Education We've got this

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