Institutional Change and American Economic Growth

Abstract

This book presents a model for examining problems of institutional change and applies it to American economic development in the nineteenth and twentieth centuries. The authors develop their model of institutional change. They argue that if external economic factors make an increase in income possible but not attainable within the existing institutional structure, new organizations must be developed to achieve the potential in income. Their model is designed to explain the type and timing of these necessary changes in institutional organization. Individual, voluntary cooperative, and governmental arrangements are included in the discussion, although the latter differs considerably from the first two.

China goes global: public policies' influence on small- and medium-sized enterprises' international expansion

“…when markets are still in formation, institutional theory presents a more relevant theoretical framework to understand the behaviour of firms (Hoskisson et al 2000, p. 253). Several factors affect this institutional environment 2 ; among them cultural diversity (Hofstede 1981, Kogut andSingh 1988), unfamiliarity with business conditions (or liability of foreignness) (Johanson and Vahlne 1977, Zaheer 1995, Petersen and Pedersen 2002, and public policies, legal institutions, and regulatory structures (Davis and North 1971, Peng and Heath 1996, Yeung 2002). …”

Determinants of farmers' trust in government agricultural agencies in Poland

“…Following many contemporary economists, the agencies (organizations) are seen by the author of this paper as institutions (Williamson 1985;Moe 1991) or as an institutional arrangement (Davis and north 1971;Jensen and Meckling 1976) for agriculture and rural development. in fact, some institutional economists make a strong distinction between organization and institutions.…”

Processes of Localization and Institutionalization of Local Managers in Economic Functions in Danish Owned Subsidiaries in Estonia, Latvia and Lithuania Around the 21st Century

“…In the analysis "Transition in the Baltic States" it was stated in 1996 that: "It is now a generally shared view that the progress of East European economies towards a market economy has not been as smooth as initially expected" (Hood et al 1997). The theory of Davis and North (1971) is found most suitable in such a turbulent economy as the Baltic countries during the years investigated because both informal and formal institutions are included contrary to many of the other known institutional theories, and both kinds of institutions were under pressure during these years in focus. According to Mygind (1996) In the context of such a historic complex development the situation in the organizations can be seen as revolutionary or transformational, as some researchers name a break with the past (Burke and Litwin 1992).…”

“…Former Soviet countries have undergone tremendous changes in and around the 21 st century and the transition period is one of the most interesting ones in history, especially in an organizational and institutional management perspective. North has developed an institutional theory of enabling and constraining forces which is found highly applicable in research in the former East European countries (see North 1990;Davis and North 1971;Welter and Smallbone 2003;Xheneti and Smallbone 2008;Heliste et al 2007). The object of this study is to investigate the localization development of a Danish subsidiary in one of the Baltic countries over a fi ve-year period of 1997-2002 as a longitudinal study, using mainly qualitative methods.…”