The evolution of the Western world has drawn on theoretical structures of classical and neoclassical liberalism for its explanatory support and sources of inspiration for centuries. Against this ideological background, institutionalists aim at showing that growth is a process of transformation,...

In time, there were a series of studies on the role of institutions, a number of growth theories and models being proposed, which have had different impacts on the real economic processes. Institutionalist approaches differ from one author to another, however we must note that economic growth is...

There is a simple case which combines different lines of thought of the institutional economy: institutions matter. If this hypothesis is considered to be central, transaction costs economics, property rights economics are part of institutional economics, as well as in public choice theory's...