The future of new institutional economics: from early intuitions to a new paradigm?

Abstract

International audienceThe trajectory of institutional economics changed in the 1970s when new institutional economics (NIE) began to take shape around some relative vague intuitions which eventually developed into powerful conceptual and analytical tools. The emergence of NIE is a success story by many measures: four Nobel laureates in less than 20 years, increasing penetration of mainstream journals, and significant impacts on major policy debates. This rapid acceptance is remarkable when we consider that it was divided from birth into distinct schools of thought. What will be the future of NIE? Will it be quietly absorbed by mainstream theory, or will it radically transform neoclassical economics into a new paradigm that includes institutions? To address these questions, we follow the sometimes-bumpy road to NIE's current successes and ponder the challenges that lie ahead

Problemas de agência no setor público: o papel dos intermediadores da relação entre poder central e unidades executoras

“…Ménard and Shirley (2014) argue, however, that the focus of NIE is quite broad, since it examines, at the micro-analytical level, the organizations and their impacts on public policies. For these authors, NIE promotes dynamic rather than static explanations for economic developments, as well as being receptive to interdisciplinary approaches, and providing space for case studies and other non-mathematical methodologies.…”

Pemodelan Skenario Kebijakan Pengentasan Kemiskinan Di Indonesia Dengan Metode Promethee

“…Temuan tentang keunggulan pola model hybrid ini sesuai dengan pernyataan para peneliti terdahulu tentang model hybrid yang menjadi alternatif terbaik model kelembagaan tatkala berhadapan dengan banyak aktor yang terlibat dalam penyelesaian permasalahan yang kompleks (German, 2010;Proff, 2015;Menard dan Shirley, 2014).…”

Community-based forest management institutions in the Galician communal forests: A new institutional approach

“…Institutional analysis has advanced in recent decades, and the New Institutional Economics (NIE) has changed the trajectory of institutional economics (Ménard and Shirley, 2014). In fact, the economics mainstream has rediscovered the role of institutions throughout the advances of the NIE, and four new institutional scholars have been distinguished as Nobel laureates (Ronald Coase, Douglass North, Elinor Ostrom, Oliver Williamson).…”

“…This new institutional analysis has adopted an inter-disciplinary approach in social sciences Coase (1999), and even a New Institutional Social Science has been propelled in modern political economy (Schofield and Caballero, 2011;Schofield et al, 2013). In any case, we should recognize that there is no general theory of institutional economics and in some ways NIE is still more of a movement than a field (Ménard and Shirley, 2014). This movement has been applying advanced institutional analysis to the study of the management of natural and environmental resources such as fisheries (Caballero et al, 2008(Caballero et al, , 2014, aquaculture (Caballero et al, , 2012, forestry resources (Gibson et al, 2000, Schlüter, 2007, pollution (Cole, 2002), wetland governance (Ahmed et al, 2008) or water management (Libecap, 2011).…”