This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...

This paper analyses the concept of organizational forms, and derives some implications for the economics of production organization. To this end, after pointing out the role of knowledge in the organization of production, we discuss the theories based on technology (new institutional economics)...

Brilliant but little known, in part because his style was dense and crucial papers unpublished, Earl Thompson reformulated standard theory to achieve policy relevance, focusing on significant rent-seeking inefficiencies stemming from private information and transaction costs. Drawing on history,...

The extraordinary influence of The Problem of Social Cost" is now well acknowledged. Beyond the official recognition coming with the award of the Alfred Nobel Memorial Prize in Economic Sciences as well as the myriad citations, what may matter most, as emphasized by Mary Shirley (2013), is that...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...

This paper studies the concept of an international economic order, i.e. an institutional arrangement of international rules. Such rules emerge from negative experiences – historical disasters – that inflict severe hardship on people. A taxonomy for rules reducing transaction costs is...

The transaction cost literature continues to mature as improvements have been made on both theoretical and empirical fronts. Over the past several years, serious attempts have been made to actually measure transaction costs. Here I argue that successful measurement must solve three...

The paper analyses the impacts of transaction costs on the degree of household market integration using survey data collected from smallholder potato farmers located in the Peruvian Andes. The analysis focuses on the impacts of transaction costs differentiated as information, negotiation and...