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New Developments in Case Study Methods for Institutional Economics

In: Handbook of New Institutional Economics

Author

Listed:
  • Andrew Bennett

    (Georgetown University)

Abstract

The present chapter reviews the advantages of case studies in the study of economic institutions and outlines two new case study methods: typological theorizing and formal Bayesian process tracing. Case studies have many comparative advantages relative to quantitative and experimental methods, including strengths in analyzing path dependency, equifinality, high-order interactions, anomalies, substantively important cases, complex concepts that are hard to measure, and causal mechanisms and processes. These advantages are a good fit for institutional economists’ interest in big picture questions, critical junctures, and complex concepts. The chapter introduces and illustrates typological theorizing and formal Bayesian process tracing using the example of Didac Queralt’s Pawned States (2022), a study of state building and international finance in the global south in the 1900s. The chapter concludes that wider and more rigorous use of case study methods can contribute greatly to new institutional economics and the field of economics more generally.

Suggested Citation

  • Andrew Bennett, 2025. "New Developments in Case Study Methods for Institutional Economics," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, edition 0, chapter 40, pages 1059-1087, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-50810-3_40
    DOI: 10.1007/978-3-031-50810-3_40
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