This paper studies whether institutions matter for economic performance. For this aim, we first construct a simple framework illustrating how to examine the interaction between institutions and economic performance from a different point of view. Then, using this framework, we introduce an...

The aim of this arti cle is to show that the New Insti tuti onal Economics is an interdisciplinary stream combining economics, law, organizati on theory, politi cal sciences, sociology, and anthropology. The main theories which are part of the New Insti tuti onal Economics are: Agency Theory,...

Environmental governance faces inconsistencies limiting its efficiency and ability to frame a sustainable co-evolution of Human and Nature. Regarding natural resource governance in developing countries, frictions in between policy design and property rights allocation cause these...

This paper discusses various ways to organise these consultations, so that a compromise agreement is reached on the solution of the (re)distribution problem. These institutionalised structures of consultation are referred to as 'matching zones' here. Practical experiences, mainly from the...

Cultural evolution is a long-term endogenous process which is revealed in society's cultural traits and it is embodied in institutional characteristics (property rights protection, rule of law, etc.) and transaction characteristics (risk levels, time required for start-ups, corruption levels,...

Municipalities may have various motives for decisions on the mode of their task execution. Empirical studies – based on both public choice and transaction costs theory - have not yet provided a fully comprehensive explanation for municipal contracting out decisions. Therefore, we held...

This paper examines the manner by which transactions costs in financial markets, broadly defined, not only derive from the regulatory-institutional framework, but in turn affect the development of this framework. We develop a simple model of policymaking with common agency that embeds endogenous...

This paper discusses various ways to organise these consultations, so that a compromise agreement is reached on the solution of the (re)distribution problem. These institutionalised structures of consultation are referred to as 'matching zones' here. Practical experiences, mainly from the...

In order to examine usefulness of the New Institutional Economics (NIE) for semi-public institutions such as public utilities and public transport, this thesis confronts the various “children of Coase” with a case study of the history of the railways in five European countries. Starting with...