Chapter 2: New Institutional Economics
An Institutional Critique
Category:
Monograph Chapter
Published:
26 Jan 2018
Page Range:
15–44
Collection:
Economics 2018
DOI:
https://doi.org/10.4337/9781784718213.00009
Restricted access

In Chapter 2 the main concepts and ideas of New Institutional Economics are introduced. These are used with some additional adaptations in Chapter 4 to develop a theory of the role of the law and legal institutions in the process of development. According to a study by Ménard and Shirley in 2014, transaction costs is one of three core concepts in the development of NIE. The others are property rights and contracts. These three have played a crucial role in understanding the role of institutions in society and feature prominently throughout this book.

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Cover Law and Development
Law and Development
Monograph Book
Published:
26 Jan 2018
Print ISBN:
9781784718206
eISBN:
9781784718213
DOI:
https://doi.org/10.4337/9781784718213
Pages:
200
Collection:
Economics 2018
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