IDEAS home Printed from https://ideas.repec.org/p/oec/ecoaaa/133-en.html
   My bibliography  Save this paper

The Economic Analysis of Institutions and Organisations - in General and with Respect to Country Studies

Author

Listed:
  • Oliver E. Williamson

Abstract

Institutional questions have become increasingly prominent in the evaluation of nearly every area of structural policy. The present article shows how formal economic analysis may be brought to bear on the problem of understanding institutions. It begins by reviewing the recent history of thought on the economics of organisations. It then outlines the fundamentals of transactions cost economics, a branch of economic theory which views organisations as a response to competitive pressures to align different ways of channelling or "governing" a transaction -- these governance forms include market, hybrid or hierarchy -- with the transactions requirements of different economic sectors. The paper then demonstrates the applicability of this theory, which represents a significant departure from the neo-classical theory of the firm, in such diverse areas as intermediate product markets, corporate finance and governance, the modern corporation, regulation and deregulation and the failure of ... Les aspects institutionnels occupent une place de plus en plus importante dans l'évaluation de presque tous les domaines de la politique structurelle. Le présent article montre comment une analyse économique en bonne et due forme peut s'appliquer au problème de la compréhension des institutions. Après un passage en revue de l'évolution récente de la pensée en matière d'économie des entreprises, sont énoncés les principes de l'économie des coûts de transaction, branche de la théorie économique qui considère les entreprises comme une réponse aux pressions concurrentielles visant à adapter différents moyens d'acheminer ou de "gouverner" une transaction -- par exemple, par le marché, des systèmes hybrides ou la hiérarchie -- aux besoins des différents secteurs de l'économie. L'auteur montre ensuite l'applicabilité de cette théorie, qui s'écarte sensiblement de la théorie néo-classique de l'entreprise, dans des domaines aussi divers que les marchés de produits intermédiaires, les ...

Suggested Citation

  • Oliver E. Williamson, 1993. "The Economic Analysis of Institutions and Organisations - in General and with Respect to Country Studies," OECD Economics Department Working Papers 133, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:133-en
    DOI: 10.1787/802045548530
    as

    Download full text from publisher

    File URL: https://doi.org/10.1787/802045548530
    Download Restriction: no
    File URL: https://libkey.io/10.1787/802045548530?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

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


    Cited by:

    1. Christos Kalantaridis & Zografia Bika, 2006. "In-migrant entrepreneurship in rural England: beyond local embeddedness," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 18(2), pages 109-131, March.
    2. Saussier, Stephane, 2000. "Transaction costs and contractual incompleteness: the case of Electricite de France," Journal of Economic Behavior & Organization, Elsevier, vol. 42(2), pages 189-206, June.
    3. Anne GASSIAT & Sylvain ROUSSET & Frèdèric ZAHM, 2011. "Improving water quality with a territorial agro-environmental policy? Insights from the new generation AES in South-West France," ERSA conference papers ersa10p1569, European Regional Science Association.
    4. Stéphane Saussier, 1998. "La durée des contrats interentreprises : une analyse empirique," Économie et Prévision, Programme National Persée, vol. 135(4), pages 137-146.
    5. François Gave, 1996. "Le modèle économique allemand est-il en crise ?," Post-Print hal-03579334, HAL.
    6. Bjuggren, Per-Olof, 1998. "Competition for the market in the Swedish primary health care sector," International Review of Law and Economics, Elsevier, vol. 18(4), pages 529-541, December.
    7. Hiroko Nagano, 2020. "The impact of knowledge diversity: Integrating two economic perspectives through the dynamic capability approach," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(6), pages 1057-1070, September.
    8. Robert L. Perry & John D. Robertson, 1997. "Compact or Compound Republicanism?," Journal of Theoretical Politics, , vol. 9(3), pages 317-345, July.
    9. Di Vita Giuseppe, 2015. "Centralization versus Decentralization of Legislative Production and the Effect on Litigation: A Case Study," Review of Law & Economics, De Gruyter, vol. 11(2), pages 267-291, July.
    10. Birthal, Pratap S. & Joshi, P. K. & Gulati, Ashok, 2005. "Vertical coordination in high-value commodities," MTID discussion papers 85, International Food Policy Research Institute (IFPRI).
    11. Sander, Birgit, 2001. "Wohnungspolitik im Dilemma von Glaubwürdigkeit und Erpressbarkeit: Das Beispiel des Altschuldenkompromisses in der ostdeutschen Wohnungswirtschaft," Open Access Publications from Kiel Institute for the World Economy 2580, Kiel Institute for the World Economy (IfW Kiel).
    12. McCann, Laura M.J., 1999. "Induced Institutional Innovation in Response to Transaction Costs: The Case of the National Native Title Tribunal," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 123852, Australian Agricultural and Resource Economics Society.
    13. Shawn Bolouki & Peter Lewa, 2018. "An Exploratory Study of the Impact of Top Leadership on Effectiveness of Privatization of Hospitals Through Mergers and Acquisitions in Kenya," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 9(3), pages 54-87, August.
    14. Tim Hazledine, 1998. "Rationalism Rebuffed? Lessons from Modern Canadian and New Zealand Competition Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 13(1), pages 243-264, April.
    15. McCann, Laura & Colby, Bonnie & Easter, K. William & Kasterine, Alexander & Kuperan, K.V., 2005. "Transaction cost measurement for evaluating environmental policies," Ecological Economics, Elsevier, vol. 52(4), pages 527-542, March.
    16. Vandeninden, Frieda, 2012. "Foreign aid transaction costs," MERIT Working Papers 2012-007, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    17. Michel, GHERTMAN, 1998. "Applications pratiques de la théorie des coûts de transaction," HEC Research Papers Series 636, HEC Paris.
    18. Marcelo Ferreira & Clea Macagnan & Daniel Vancin & Ana Toaldo, 2021. "Technical assistance: A determinant of cooperative member loyalty," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 92(4), pages 649-668, December.

    More about this item

    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:oec:ecoaaa:133-en. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/edoecfr.html .

    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.