functional equivalents of institutions in the absence of well-developed, mature formal institutions. …

This paper attempts to explain how institutions in the reform era of China have evolved by looking into the FDI … institutions may evolve in the future and what we should concern more about institutional changes in transitional economies. …

credible and therefore more effective in countries with high-quality institutions; iii) is more credible and therefore more …

draw from John Davis’ (2003) analysis of the individual in posing the questions: what differentiates institutions, and how … can changing institutions be identified through time and space? Our analysis develops Searle’s (2005) argument that … of language. Moreover, language and understanding, surely when related to most institutions in real life, delineate and …

or institutions (Hodgson 1999, 2004). In this article we argue, however, that these recent contributions, from the fields …. We provide a theoretical account of the conditions under which institutions change, and the likely direction of such … institutional settings and practices (Dolfsma 2004). As institutions should be conceptualized to have both structural as well as …

, firms need to develop political relations with governments and institutions in home countries and abroad. The aim of this …

trust can be viable in markets. The emergence and breakdown of trust is modeled in a context of multiple buyers and … suppliers. Agents adapt their trust in a partner, the weight they attach to trust relative to profitability, and their own … trustworthiness, modeled as a threshold of defection. Adaptation occurs on the basis of realized profit. Trust turns out to be viable …

incorporates learning and trust. The paper identifies two kinds of relational risk: hold-up and spillover. For the governance of … relations, i.e. the control of relational risk, it develops a box of instruments which includes trust, next to instruments …