ECONOMIC DEVELOPMENT ACCORDING TO INSTITUTIONAL ECONOMICS/DESENVOLVIMENTO ECONOMICO NA VISAO DA ECONOMIA INSTITUCIONAL
This article aims to organize and summarize the main contributions of the New Institutional Economics about economic development and takes as reference analysis Douglass North, one of the founders of the school. This school of thought rejects part of the neoclassical framework and considers the inst...
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Veröffentlicht in: | Ciências sociais em perspectiva 2017-07, Vol.16 (31), p.66 |
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Hauptverfasser: | , |
Format: | Artikel |
Sprache: | por |
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Online-Zugang: | Volltext |
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Zusammenfassung: | This article aims to organize and summarize the main contributions of the New Institutional Economics about economic development and takes as reference analysis Douglass North, one of the founders of the school. This school of thought rejects part of the neoclassical framework and considers the institutions, the time and the State as key factors to explain the different levels of development among countries. One of the key elements is that these new assumptions respond to different real situations that, until then, the neoclassical theory had difficulties to do it. On the subject of the article, it can be concluded that there is no economic determinism and just import models or the legal imposition of certain constraints to development is not enought. Institutions, norms of each country, social beliefs as well as the historical evolution and the interpretation of the world by entrepreneurs are critical to get economic and social development. |
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ISSN: | 1677-9665 |
DOI: | 10.5935/1981-4747.20170012 |