This outstanding book presents new original contributions from some of the world's leading economists including Ronald Coase, Douglass C. North, Masahiko Aoki, Oliver E. Williamson and Harold Demsetz. It demonstrates the extent and depth of the New Institutional Economics research programme which is having a worldwide impact on the economics profession.
The book lays out the fundamental dimensions of the research programme with special emphasis on the interaction between institutional factors, both formal and informal, and the performance of different arrangements that organize transactions. After examining the foundations of New Institutional Economics and honouring Ronald Coase's contribution to the field, it presents controversial and conflicting views on the sources of growth. It places special emphasis on organizations and transactions, focusing on issues of trust, corruption, enforcement of contracts and modes of organization. Written by an eminent group of scholars, Institutions, Contracts and Organizations is an important landmark in the development of New Institutional Economics.
Edited by Claude Menard, Professor (Emeritus) of Economics, University of Paris Pantheon-Sorbonne, France
Contents: Introduction Part I: Foundations Part II: Homage to Ronald H. Coase Part III: Sources of Growth: Technology, Natural Endowments or Institutions? Part IV: Trust, Distrust and Corruption Part V: Enforcement Issues Part VI: Institutions and Modes of Organizations Part VII: Models and Measures Index