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Informal Institutions in a Transition Economy: Does Business Ethics Matter?

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  • Vehovec Maja

    (University of Rijeka, Croatia)

Abstract

The paper is based on the New Institutional Economic Theory, which emphasizes institutions as a vital component in the creation of wealth and economic growth. It is widely accepted that formal institutions change rapidly through political and legislative decisions. Informal institutions are deeply embedded in customs, tradition and inherited behavioral norms. Thus, change comes at a very slow pace. This research is focused on the business ethics segment of informal institutions.The paper is based on the effects of institutional changes on the position and the slope of demand curve for ethical business behavior. Business people faced with opportunity costs that influenced their behavior. Additional statistical analyses provide evidence of business ethics perception, which is more expressed in the group of managers than in the administration group. Behavior of the middle-aged population differs significantly in comparison to other groups when deciding on ethical dilemmas in real business situations.Cet article s'inspire de la Nouvelle Economie Institutionnelle qui met l'accent sur les institutions en tant que composante fondamentale du processus de création de richesses et de la croissance économique, Il est généralement reconnu que les institutions formelles se modifient rapidement sous l'impulsion de décisions politiques et législatives. Les institutions informelles, quant à elles, sont profondément ancrées dans les coutumes, les traditions, et les normes de comportement héritées d'anciennes générations. Ainsi, dans le cas de ces institutions, le changement est beaucoup plus lent. Cet article met l'accent sur l'éthique des affaires en tant qu'une des composantes des institutions formelles.Une des idées qui sous-tend l'article est l'analyse des effets des changements institutionnels sur la position et la pente de la courbe de demande pour des comportements éthiques dans les affaires. Les hommes d'affaires font face à des coûts d'opportunité qui influencent leur comportement. Des analyses statistiques supplémentaires donnent la preuve de la perception de l'éthique des affaires, perception qui est plus aiguë parmi les managers que parmi les administratifs. Le comportement de la population d'âge intermédiaire diffère de manière significative de celui des autres groupes face à des dilemmes éthiques que suscitent certaines situations concrètes du monde des affaires.

Suggested Citation

  • Vehovec Maja, 2001. "Informal Institutions in a Transition Economy: Does Business Ethics Matter?," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 11(1), pages 1-18, March.
    • Handle: RePEc:bpj:jeehcn:v:11:y:2001:i:1:n:8
    DOI: 10.2202/1145-6396.1007
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    References listed on IDEAS

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    1. Claude Ménard (ed.), 1997. "Transaction Cost Economics," Books, Edward Elgar Publishing, number 1150.
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