IDEAS home Printed from https://ideas.repec.org/a/mhr/jinste/urnsici0932-4569(200409)1603_439ppaeic_2.0.tx_2-0.html
   My bibliography  Save this article

Political Process and Efficient Institutional Change

Author

Listed:
  • Yang Yao

Abstract

The efficiency hypothesis of institutional change is formulated in a general economic setting. The validity of this hypothesis depends on the specification of the new institution and the political process governing the institutional change. The issue is formulated as an implementation problem that asks whether the hypothesis can be implemented by a game form that consists of a well-behaved political process and a new institution. A general negative result is obtained, and an extension is developed to show the possibility of a positive result.

Suggested Citation

  • Yang Yao, 2004. "Political Process and Efficient Institutional Change," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(3), pages 439-453, September.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200409)160:3_439:ppaeic_2.0.tx_2-0
    as

    Download full text from publisher

    File URL: https://www.mohrsiebeck.com/en/article/political-process-and-efficient-institutional-change-1016280932456041960597
    Download Restriction: Fulltext access is included for subscribers to the printed version.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Luis C. Corchón, 1996. "The Theory of Implementation of Socially Optimal Decisions in Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37283-2, March.
    2. North, Douglass C., 1971. "Institutional Change and Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 31(1), pages 118-125, March.
    3. Masahiko Aoki, 2001. "Toward a Comparative Institutional Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011875, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Neyapti, Bilin & Arasil, Yavuz, 2016. "The nexus of economic and institutional evolution," Economic Modelling, Elsevier, vol. 52(PB), pages 574-582.
    2. Kai Guo & Yang Yao, 2005. "Causes of privatization in China," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(2), pages 211-238, April.
    3. Yang Yao, 2004. "Land Tenure Choice in Chinese Villages: The Rational versus the Political Model," Land Economics, University of Wisconsin Press, vol. 80(4).
    4. Yao, Yang, 2014. "The Chinese Growth Miracle," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 7, pages 943-1031, Elsevier.
    5. Neyapti, Bilin, 2013. "Modeling institutional evolution," Economic Systems, Elsevier, vol. 37(1), pages 1-16.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mudambi, Ram & Navarra, Pietro, 2002. "Institutions and internation business: a theoretical overview," International Business Review, Elsevier, vol. 11(6), pages 635-646, December.
    2. Gagliardi, Francesca, 2008. "Institutions and economic change: A critical survey of the new institutional approaches and empirical evidence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 416-443, February.
    3. Ménard, Claude, 2017. "Meso-institutions: The variety of regulatory arrangements in the water sector," Utilities Policy, Elsevier, vol. 49(C), pages 6-19.
    4. Dai, Darong, 2013. "Cooperative economic growth," Economic Modelling, Elsevier, vol. 33(C), pages 407-415.
    5. Hartwell, Christopher A., 2014. "The impact of institutional volatility on financial volatility in transition economies : a GARCH family approach," BOFIT Discussion Papers 6/2014, Bank of Finland, Institute for Economies in Transition.
    6. Cheng-Wen Lee & Min-Ying Cheng, 2024. "The Impact of Ancient Traditional Culture on Earnings Quality: The Moderating Role of Marketization Index in China's A-Share Market," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 14(6), pages 1-20.
    7. Christopher, Joe, 2012. "Tension between the corporate and collegial cultures of Australian public universities: The current status," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 23(7), pages 556-571.
    8. Masahiko Aoki, 2013. "Institutions as cognitive media between strategic interactions and individual beliefs," Chapters, in: Comparative Institutional Analysis, chapter 17, pages 298-312, Edward Elgar Publishing.
    9. Krug, B. & Hendrischke, H., 2006. "Framing China: Transformation and Institutional Change," ERIM Report Series Research in Management ERS-2006-025-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    10. Rana, Pushpendra & Chhatre, Ashwini, 2017. "Beyond committees: Hybrid forest governance for equity and sustainability," Forest Policy and Economics, Elsevier, vol. 78(C), pages 40-50.
    11. Borsky, Stefan & Kalkschmied, Katja, 2019. "Corruption in space: A closer look at the world's subnations," European Journal of Political Economy, Elsevier, vol. 59(C), pages 400-422.
    12. Caruso, Germán & Scartascini, Carlos & Tommasi, Mariano, 2015. "Are we all playing the same game? The economic effects of constitutions depend on the degree of institutionalization," European Journal of Political Economy, Elsevier, vol. 38(C), pages 212-228.
    13. Maurice Schiff & Frédéric Docquier, 2016. "Institutional Impact of Brain Drain, Human Capital, and Inequality: A Political Economy Analysis," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 53(1), pages 95-110, December.
    14. Cuypers, I.R.P., 2009. "Essays on equity joint ventures, uncertainty and experience," Other publications TiSEM 8dc79e86-c625-467f-a450-8, Tilburg University, School of Economics and Management.
    15. repec:dau:papers:123456789/7515 is not listed on IDEAS
    16. Michael A. Leeds & Eva Marikova Leeds, 2009. "International Soccer Success and National Institutions," Journal of Sports Economics, , vol. 10(4), pages 369-390, August.
    17. Finot, Iván, 1996. "Descentralización, equidad y participación en América Latina: una aproximación económica," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 30661, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    18. Cecchi, Francesco & Melesse, Mequanint Biset, 2016. "Formal law and customary change: A lab-in-field experiment in Ethiopia," Journal of Economic Behavior & Organization, Elsevier, vol. 125(C), pages 67-85.
    19. Elizabeth Hoffman & Matthew L. Spitzer, 2011. "The Enduring Power of Coase," Journal of Law and Economics, University of Chicago Press, vol. 54(S4), pages 63-76.
    20. Vi Dung Ngo & Frank Janssen & Marine Falize, 2016. "An incentive-based model of international entrepreneurship in emerging and transition economies," Journal of International Entrepreneurship, Springer, vol. 14(1), pages 52-74, March.
    21. Ugo Pagano, 2019. "Proprietà e controllo delle grandi imprese: un’interpretazione del resistibile declino italiano," Department of Economics University of Siena 798, Department of Economics, University of Siena.

    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mhr:jinste:urn:sici:0932-4569(200409)160:3_439:ppaeic_2.0.tx_2-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thomas Wolpert (email available below). General contact details of provider: https://www.mohrsiebeck.com/jite .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.