Smyth, Russell - In: Journal of Economic Surveys 12 (1998) 4, pp. 361-98
The paper suggests that there is a tension between the basic tenant of New Institutional Economics (NIB) and the manner … four main perspectives on NIB: (i) property rights, (ii) transaction costs economics, (iii) new economic history, and (iv …) evolutionary economics. There are two main arguments. The first is that the transformation phase should be seen as 'open …