Theoretical and Applied Economics
No. 2 / 2007 (507)
Development Economics and Economic Development: Why do Institution Matter?
Academia de Studii Economice Bucuresti
Abstract. Economic development is a complex phenomenon, at least when speaking about understanding its real sources, despite the simplifying tendencies of economic growth neoclassical theories. These orthodox theories limit themselves to identifying the necessary conditions - such as capital accumulation and technological progress - for production increasing. But, in order to explain "why" people are saving, investing, learning and looking for knowledge, we must take into consideration the institutions that define any economic system. Within society, people are perceptive to a system of general rules that provides incentives and constraints for human behavior. Institutions' and human action's mutuality, and also its economic and political implications, explain the essential importance of institutions in economic science and the institutional approach viability.
Contents
Elasticity of Substitution for Production Functions in Romania and other Countries
The Development of a Multisource and a Systematized Database for Economic and Policy Impact Analysis
Leadership, Motivation and Excellence (A Comparative view)
Labor Relations and Social Dialogue: Measurement and Diagnosis Instruments
Management Science Education, between McDonaldisation of Society and High Quality Economics
Performant Brand Management Contribution to the Company Success on International Market
Statistical Methods for Base Inflation Calculation
Professional Competence in Psychosociology Research
VaR Methodology Application for Banking Currency Portfolios
Development Economics and Economic Development: Why do Institution Matter?
Evaluation of Results from Sales Promotion Activities
Currency Evolutions during 2006 and Expectations for 2007