Institutions, Institutional Change and Economic Performance¶
North, D. C. (1990). Institutions, Institutional Change and Economic Performance. Cambridge University Press.
Cited by¶
7 citations across 7 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Exchange
- North's (1990) institutional analysis emphasizes that exchange can be sustained by enforcement and credible commitment even between parties with deeply opposed interests, provided the recognition context binds them.
This sourceInstitutions — formal rules, informal norms, and their enforcement — determine the structure and cost of exchange
- North's (1990) institutional analysis emphasizes that exchange can be sustained by enforcement and credible commitment even between parties with deeply opposed interests, provided the recognition context binds them.
- Governance
- Authority is distributed through formal roles, rules, and institutions; accountability specifies who answers for what; decision rights assign who may or must decide about what, as North (1990) develops in his foundational treatment of institutions as humanly devised constraints structuring political, economic, and social interaction.
This sourceDefines institutions as humanly devised constraints (formal rules, informal norms, and their enforcement characteristics) that structure political, economic, and social interaction and determine the structure and cost of exchange; directly supports the claim that authority is distributed through formal roles, rules, and institutions.
- Authority is distributed through formal roles, rules, and institutions; accountability specifies who answers for what; decision rights assign who may or must decide about what, as North (1990) develops in his foundational treatment of institutions as humanly devised constraints structuring political, economic, and social interaction.
- Institution
- The concept emerges from sociology and anthropology but generalizes across economics (the "rules of the game"), political science (constitutions and electoral systems), law (precedent and procedure), and organizational science (routines and standard operating procedures), a cross-domain reach the economist North (1990) made explicit in arguing that institutions are the humanly devised constraints structuring all political, economic, and social interaction.
This sourceDevelops an analytical framework in which institutions — formal rules, informal norms, and their enforcement characteristics — determine the structure and cost of exchange; emphasizes that exchange relations can be sustained between parties with opposed interests when credible-commitment mechanisms and third-party enforcement create a recognition context that binds them.
- The concept emerges from sociology and anthropology but generalizes across economics (the "rules of the game"), political science (constitutions and electoral systems), law (precedent and procedure), and organizational science (routines and standard operating procedures), a cross-domain reach the economist North (1990) made explicit in arguing that institutions are the humanly devised constraints structuring all political, economic, and social interaction.
- Institutional Lag
- The structural insight is robust, echoing North's (1990) framework for institutional change in economic performance:
This sourceDevelops an analytical framework in which institutions — formal rules, informal norms, and their enforcement characteristics — determine the structure and cost of exchange; emphasizes that exchange relations can be sustained between parties with opposed interests when credible-commitment mechanisms and third-party enforcement create a recognition context that binds them.
- The structural insight is robust, echoing North's (1990) framework for institutional change in economic performance:
- Path Dependence
- A firm trying to escape a technology lock-in may succeed at the firm scale (switching to a new technology) while remaining locked in at the industry scale (industry standards persist).
This sourceDevelops an analytical framework in which institutions — formal rules, informal norms, and their enforcement characteristics — determine the structure and cost of exchange; emphasizes that exchange relations can be sustained between parties with opposed interests when credible-commitment mechanisms and third-party enforcement create a recognition context that binds them.
- A firm trying to escape a technology lock-in may succeed at the firm scale (switching to a new technology) while remaining locked in at the industry scale (industry standards persist).
- Scaling and Scale Dependence
- Economic Markets: Small markets rely on personal trust and reputation; large markets require legal contracts and institutions, a shift North (1990) analyzed in his framework for how transaction costs drive the emergence of formal institutional structures as exchange scales up.
This sourceDevelops an analytical framework in which institutions — formal rules, informal norms, and their enforcement characteristics — determine the structure and cost of exchange; emphasizes that exchange relations can be sustained between parties with opposed interests when credible-commitment mechanisms and third-party enforcement create a recognition context that binds them.
- Economic Markets: Small markets rely on personal trust and reputation; large markets require legal contracts and institutions, a shift North (1990) analyzed in his framework for how transaction costs drive the emergence of formal institutional structures as exchange scales up.
- Transaction Costs
- Structural tension: Douglass North (
This sourceDevelops an analytical framework in which institutions — formal rules, informal norms, and their enforcement characteristics — determine the structure and cost of exchange; emphasizes that exchange relations can be sustained between parties with opposed interests when credible-commitment mechanisms and third-party enforcement create a recognition context that binds them.
- Structural tension: Douglass North (
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