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Evolution of Markets and Institutions : A Study of an Emerging Economy - Murali Patibandla

Evolution of Markets and Institutions

A Study of an Emerging Economy

Hardcover Published: 1st June 2006
ISBN: 9780415339674
Number Of Pages: 345

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The new institutional economics has been one of the most influential schools of thought to emerge in the past quarter century. Taking its roots in the transaction cost theory of the firm as an economic organization rather than purely a production function, it has been developed further by scholars such as Oliver Williamson, Douglas North and their followers, leading to the rich and growing field of the new institutional economics.

This branch of economics stresses the importance of institutions in the functioning of free markets, which include elaborately defined and effectively enforced property rights in the presence of transaction costs, large corporate organizations with agency and hierarchical controls, formal contracts, bankruptcy laws, and regulatory institutions. In this timely volume, Murali Patibandla applies some of the precepts of the new institutional economics to India - one of the world's most promising economies.

List of figuresp. xii
List of tablesp. xiii
Prefacep. xiv
Abbreviationsp. xvi
Introductionp. 1
The conceptual frameworkp. 21
Initial conditions and economic policy reformsp. 48
The direction of structural changesp. 88
Competitive dynamicsp. 126
Technological changep. 157
Organizational changep. 204
The evolution of public and private order institutionsp. 249
Conclusionp. 284
Appendicesp. 294
Notesp. 305
Referencesp. 317
Indexp. 330
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780415339674
ISBN-10: 0415339677
Series: Routledge Studies in Development Economics
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 345
Published: 1st June 2006
Country of Publication: GB
Dimensions (cm): 22.86 x 15.88  x 2.54
Weight (kg): 0.69
Edition Number: 1