Evolution of Markets and Institutions
By (author) Murali Patibandla
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Evolution of Markets and Institutions by Murali Patibandla
Book DescriptionThe 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.
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Book DetailsISBN: 9780415339674
(234mm x 156mm x 26mm)
Publisher: Taylor & Francis Ltd
Publish Date: 20-Apr-2006
Country of Publication: United Kingdom
Books By Author Murali Patibandla
Institutional Dynamics and the Evolution of the Indian Economy, Hardback (May 2009)View all books by Murali Patibandla
This edited volume highlights the interplay between the evolving institutions and the growing economic dynamism of the Indian economy. The book provides a state of the art interdisciplinary review of the Indian political economy and cultural psychology and it draws upon the contribution of academic scholars who are intimately familiar with India.
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Author Biography - Murali Patibandla
Copenhagen Business School, Denmark
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