Facilities of Original Institutional Economics in Research of Institutional Changes
Journal of Economic Regulation, Vol. 2, No. 4, 2011
15 Pages Posted: 23 Nov 2012
Date Written: 2011
Institutional changes in the economy have been the research subject of many economists, the majority of studies are carried out within neoinstitutionalism. In this paper the author attempts to analyze current institutional changes in terms of the old or traditional institutionalism. The author focuses, on the one hand, on the study of asynchrony transformation of regulation mechanisms, and institutions, on the other hand. As an important factor the collective action of special interest groups are considered in the analysis of institutional changes.
Keywords: institutional changes, collective action, institutional inertia, Veblen’s dichotomy, special interest groups
JEL Classification: B50, B52, D02, O33, B25
Suggested Citation: Suggested Citation