Description
Why is it that some countries become rich while others remain poor? Do markets require regulation to function efficiently? If markets offer an efficient way of exchanging goods, why do individuals even create firms? How are economic transactions organized in the absence of a state that could enforce contracts and guarantee property rights? Institutional economics has allowed social scientists to answer many fundamental questions about the organization and functioning of societies. This introduction to institutional economics is concise, yet easy to understand. It not only caters to students of economics but to anybody interested in this topical research area and its specific subfields. Both formal and informal institutions (such as customs, habits, and traditions) are discussed with respect to their causes and consequences, highlighting the important part they play for economic growth and development.
A concise and clear introduction to the new institutional economics that summarizes current knowledge whilst addressing its gaps and weaknesses.
About the Author
Stefan Voigt is Chair of Economic Analysis of Law at the Universitat Hamburg and Director of its Institute of Law and Economics. He is also a fellow with CESifo (Munich). Voigt is one of the editors of Constitutional Political Economy and a member of various editorial boards, including those of Public Choice and the International Review of Law and Economics.
Reviews
'This book covers both contemporary and historical thinking on topics which are at the core of our understanding of how markets and governments work. Although grounded in economics research and thinking, it is written in a way that makes it accessible to a wide range of disciplinary backgrounds.' Timothy Besley, W. Arthur Lewis Professor of Development Economics, London School of Economics
'The literature on institutional economics is vast. This book isn't just the place to start, it will take you all the way to the research frontier. An authoritative survey.' James A. Robinson, University of Chicago
Book Information
ISBN 9781108461085
Author Stefan Voigt
Format Paperback
Page Count 306
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 450g
Dimensions(mm) 228mm * 151mm * 17mm
A concise and clear introduction to the new institutional economics that summarizes current knowledge whilst addressing its gaps and weaknesses.
About the Author
Stefan Voigt is Chair of Economic Analysis of Law at the Universitat Hamburg and Director of its Institute of Law and Economics. He is also a fellow with CESifo (Munich). Voigt is one of the editors of Constitutional Political Economy and a member of various editorial boards, including those of Public Choice and the International Review of Law and Economics.
Reviews
'This book covers both contemporary and historical thinking on topics which are at the core of our understanding of how markets and governments work. Although grounded in economics research and thinking, it is written in a way that makes it accessible to a wide range of disciplinary backgrounds.' Timothy Besley, W. Arthur Lewis Professor of Development Economics, London School of Economics
'The literature on institutional economics is vast. This book isn't just the place to start, it will take you all the way to the research frontier. An authoritative survey.' James A. Robinson, University of Chicago
Book Information
ISBN 9781108461085
Author Stefan Voigt
Format Paperback
Page Count 306
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 450g
Dimensions(mm) 228mm * 151mm * 17mm
