institutions that define any economic system. Within society, people are perceptive to a system of general rules that provides … incentives and constraints for human behavior. Institutions' and human action's mutuality, and also its economic and political … implications, explain the essential importance of institutions in economic science and the institutional approach viability. …

This paper focuses on the role of institutions in enhancing economic growth. Attention to the institutional environment … specialization and the division of labor. Instead, development is seen as a response to the evolution of institutions that support …. That is, institutions do matter when it comes to costs minimizing or, in other words, the secret of obtaining efficient …