Institutions and territory. Review of institutional economics’ strands in the context of their usefulness in the research on local and regional develo Cover Image

Instytucje a przestrzeń. Przegląd nurtów ekonomii instytucjonalnej w kontekście ich przydatności dla badań procesów rozwoju lokalnego i regionalnego
Institutions and territory. Review of institutional economics’ strands in the context of their usefulness in the research on local and regional develo

Author(s): Mariusz E. Sokołowicz
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: institutional economics; institutions; New Institutional Economy; local and regional development

Summary/Abstract: Recently in the economic literature there are more and more works classified as ”institutional economics”. The latter can be characterized by a high level variety, since it includes such strands as “old” institutionalism, neo-institutionalism, New Institutional Economics, known by its methodological rigor, as well as many concepts that arose “between” economics and sociology, stressing the important role of institutions as an important factor determining economic behavior (e. g. embeddedness concept). Thus, not surprisingly, both the cognitive apparatus and methodological assumptions of institutionalism as well, are applied in the research on local and regional development. The aim of this paper is to present a short review of existing output in this field and to indicate the possibilities of using the main important institutional schools in the territorial research. The first part is devoted to the definitions of institutions and main classification dilemmas. The other depicts the main schools of institutional economic with the attempt of identification of possibilities of their application in the studies on local and regional development. The paper ends with a description of some methodological challenges concerning the use of institutionalism in this field of science.

  • Issue Year: 2013
  • Issue No: 281
  • Page Range: 151-159
  • Page Count: 9
  • Language: Polish