Institutions matter: they affect individual action, influence cooperation, and are crucial in making the difference between wealth and poverty, growth and stagnation. Yet, the explanatory power of modern institutional theorizing has not been exceedingly satisfactory. In contrast with the...

The individual, economic agent has antecedents and consequences that shape her perceptions of the world, in other words, form the individual’s mental models. Furthermore, the individual is a totality of mental models, which shape perception and influence the selection of relevant models...

Following last decade’s programmatic papers on Evolutionary Economic Geography, we report on recent empirical advances and how this empirical work can be positioned vis-à-vis other strands of research in economic geography. First, we review studies on the path dependent nature of clustering,...

By investigating the connection between mind working and institutional processes, Institutional Cognitive Economics turns out to be the most appropriate in order to overcome some limits in New Institutional Economics. This leads us to develop further this approach. This paper integrates F....

An attempt is made to sum up the basic socio-economic issues in Karl Polanyi's book “The Great Transformation”, which is less known by the economists in our country. Suggesting an alternative to Marx's market economic analysis at the early stages of establishing and imposing the capitalist...

What role do community norms play in the diffusion and persistence of new organizational practices? We explore this question through an examination of the widespread practice of wage arrears, the late and nonpayment of wages, in Russia during the 1990s. Existing research on wage arrears most...

The article introduces the papers published in the present issue. It does so by elaborating a few comments on the role of institutions for economic development and how should economics analyse institutions.

Article on the causes, dynamics of development and institutional forms of economic cycles. We study the institutional patterns associated with the formation, development and completion of economic cycles from the standpoint of an exogenous approach. The author proves the thesis about the...

What role do community norms play in the diffusion and persistence of new organizational practices? We explore this question through an examination of the widespread practice of wage arrears, the late and non-payment of wages, in Russia during the 1990s. Existing research on wage arrears most...

Economics of Institutions constitutes a main field in economics of xxi Century. The New Institutional Economics propelled the «return of institutions» into the research agenda of the mainstream in economics. Ronald Coase provided the notion of transaction costs, Douglass North understood...