Naslov
Impact of informal institutions on economic growth and development

Autori
Marošević, Katarina ; Jurković, Zvonimir

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Interdisciplinary Management Research IX : proceedings / Barković, Dražen ; Runzheimer, Bodo - Osijek : Pforzheim : Faculty of Economics in Osijek ; Hochschule Pforzheim University, 2013, 701-716

ISBN
978-953-253-117-6

Skup
Interdisciplinary Management Research (9 ; 2013)

Mjesto i datum
Opatija, Hrvatska, 10.05.2013. - 12.05.2013

Vrsta sudjelovanja
Poster

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
institutions, informal institutions, growth, development

Sažetak
Achieving the long-term economic growth rate and development is the aspiration of all economic policy makers. Contemporary economic theory recognizes institutions as fundamental sources of economic prosperity. According to Douglas North (1991), institutions represent designed limitations that manage political, economic and social interactions. Precisely, institutions are the rules of behavior in a society, or more formally speaking, the restrictions on which man has figured out how to shape human interaction (North, 2003:13). Besides formal institutions, i.e. constitutions, laws, property rights, informal institutions encompass customs, traditions and codes of conduct. Although more attention in developed economies is devoted to formal institutions, many authors deal with informal institutions as objects of their research. The purpose of this paper is to present institutions through the function of economic growth and development. Besides, the purpose is also to consider the relationship between formal and informal institutions. Informal institutions are thoroughly presented through a series of examples which define and analyze their impact on development outcomes.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
The paper is indexed in EBSCOhost, RePEc, EconPapers, Socionet.

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