Title: Adaptive Efficiency During the Great Recession: An Analysis of the Institutional and Organizational Determinants of Crisis Resilience (Wirtschaft und Politik)
Publisher: Springer Gabler
Publication Date: 2019
Language: English
ISBN 10: 3658274085
ISBN 13: 9783658274085
Binding: Soft cover
Condition: New

About this title

Synopsis

Robert Fritzsch provides an institutional economic analysis of the Great Recession. The author shows that institutions matter as determinants of crisis resilience - however in a different way than predicted by the prominent theories of Olson (1982) and North, Wallis, Weingast (2009), as the crisis was most severe in developed countries with democratic political institutions, rule of law and restrained regulations. The empirical results support theoretical predictions only within the sub-group of developed countries, where rule of law and restrained regulations show a positive association with crisis resilience.

About the Author

Robert Fritzsch is research associate at the chair of institutional economics and economic policy at the University of Erfurt.

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