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New Institutionalism in Economics and New Economic Sociology: Main Similarities and the Differences

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  • Maksim Markin

    (Laboratory for Studies in Economic Sociology, National Research University Higher School of Economics)

Abstract

The article reviews main statements of the influential institutional perspectives, including new institutional economic theory presented by O.Williamson and D. North; new institutionalism in economic sociology developed by organizational theorists (P. DiMaggio, W. Powell, etc.) and sociologists of markets (M. Granovetter, N. Fligstein, etc.) in the USA; and economics of conventions (L. Boltanski and L. Thevenout) in Europe. This analytical review includes a discussion of major similarities and differences of new institutional approaches in economics and sociology.

Suggested Citation

  • Maksim Markin, 2012. "New Institutionalism in Economics and New Economic Sociology: Main Similarities and the Differences," Journal of Economic Sociology, National Research University Higher School of Economics, vol. 13(3), pages 123-133.
    • Handle: RePEc:hig:ecosoc:v:13:y:2012:i:3:p:123-133
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    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics

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