Evolution of Markets and Institutions (Routledge Studies in Development Economics) - Softcover

Book 40 of 173: Routledge Studies in Development Economics

Patibandla, Murali

 
9780415494038: Evolution of Markets and Institutions (Routledge Studies in Development Economics)
Softcover
ISBN 10: 0415494036 ISBN 13: 9780415494038
Publisher: Routledge, 2006

Synopsis

The new institutional economics has been one of the most influential schools of thought to emerge in the past quarter century. Taking its roots in the transaction cost theory of the firm as an economic organization rather than purely a production function, it has been developed further by scholars such as Oliver Williamson, Douglas North and their followers, leading to the rich and growing field of the new institutional economics.

This branch of economics stresses the importance of institutions in the functioning of free markets, which include elaborately defined and effectively enforced property rights in the presence of transaction costs, large corporate organizations with agency and hierarchical controls, formal contracts, bankruptcy laws, and regulatory institutions. In this timely volume, Murali Patibandla applies some of the precepts of the new institutional economics to India - one of the world's most promising economies.

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About the Author

Murali Patibandla

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Publisher
Routledge
Publication date
2006
Language
English
ISBN 10 
0415494036
ISBN 13 
9780415494038
Binding
Paperback
Edition number
1
Number of pages
364

Other Popular Editions of the Same Title

9780415339674: Evolution of Markets and Institutions (Routledge Studies in Development Economics)

Featured Edition

ISBN 10:  0415339677 ISBN 13:  9780415339674
Publisher: Routledge, 2006
Hardcover