IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/39017.html
   My bibliography  Save this paper

Reclaiming Institutions as a Form of Capital

Author

Listed:
  • Paul, Bénédique

Abstract

Economists have recognized that “institutions matter” and the renewal of Institutional Economics has gained a large scientific authority, but institutions, as unit of analysis, stay a concept not understood on all its dimensions. Recently, the notion of “institutional capital” appeared in the literature, without neither satisfied definition nor demonstration. In this article, we adopt the “Resourced-Based View” approach to show that some kinds of institutions can theoretically be considered as form of capital, namely “institutional capital”. The main conclusions of this article are explicated in the promises of this new approach for future researches on growth theories, economic development theories, organizational theories, and overall on New Institutional Economics. We underline the importance to test the empirical strength of this economic resource. Meanwhile, economists may accept that “institutional capital matters”.

Suggested Citation

  • Paul, Bénédique, 2009. "Reclaiming Institutions as a Form of Capital," MPRA Paper 39017, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:39017
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/39017/1/MPRA_paper_39017.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Ronald H. Coase, 2008. "The Institutional Structure of Production," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 2, pages 31-39, Springer.
    3. Pierre Berthelier & Alain Desdoigts & Jacques Ould Aoudia, 2004. "Profils institutionnels : une base de données sur les caractéristiques institutionnelles de pays en développement, en transition et développés," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00007813, HAL.
    4. Masahiko Aoki, 2013. "Endogenizing institutions and institutional changes," Chapters, in: Comparative Institutional Analysis, chapter 16, pages 267-297, Edward Elgar Publishing.
    5. Bob Evans & Marko Joas & Susan Sundback & Kate Theobald, 2006. "Governing local sustainability," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 49(6), pages 849-867.
    6. Paul, Bénédique, 2009. "Institutional capital: A new analytical framework on theory and actions for economic development," MPRA Paper 39018, University Library of Munich, Germany.
    7. Harald Bauder, 2005. "Institutional Capital and Labour Devaluation: The Non-Recognition of Foreign Credentials in Germany," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 2(1), pages 75-93.
    8. Pierre Berthelier & Alain Desdoigts & Jacques Ould Aoudia, 2004. "Profils institutionnels," Revue Française d'Économie, Programme National Persée, vol. 19(1), pages 121-196.
    9. G. Hodgson, 2007. "What Are Institutions?," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 8.
    10. Christine Oliver, 1997. "Sustainable competitive advantage: combining institutional and resource‐based views," Strategic Management Journal, Wiley Blackwell, vol. 18(9), pages 697-713, October.
    11. Narayan, Deepa & Pritchett, Lant, 1999. "Cents and Sociability: Household Income and Social Capital in Rural Tanzania," Economic Development and Cultural Change, University of Chicago Press, vol. 47(4), pages 871-897, July.
    12. Syed M. Ahsan, 2001. "Institutional Framework and Poverty: A Transition Economy Perspective," CESifo Working Paper Series 593, CESifo.
    13. André Micallef, 1969. "Essai sur une théorie du capital institutionnel collectif," Revue Économique, Programme National Persée, vol. 20(1), pages 117-140.
    14. Daron Acemoglu & James Robinson, 2010. "The Role of Institutions in Growth and Development," Review of Economics and Institutions, Università di Perugia, vol. 1(2).
    15. Rudi K. F. Bresser & Klemens Millonig, 2003. "Institutional Capital: Competitive Advantage In Light Of The N Ew Institutionalism In Organization Theory," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 55(3), pages 220-241, July.
    16. Johannes W. Fedderke & John M. Luiz, 2008. "Does human capital generate social and institutional capital? Exploring evidence from South African time series data," Oxford Economic Papers, Oxford University Press, vol. 60(4), pages 649-682, October.
    17. James A. Robinson & Daron Acemoglu, 2000. "Political Losers as a Barrier to Economic Development," American Economic Review, American Economic Association, vol. 90(2), pages 126-130, May.
    18. Daphne T. Greenwood & Richard P. F. Holt, 2008. "Institutional and Ecological Economics: The Role of Technology and Institutions in Economic Development," Journal of Economic Issues, Taylor & Francis Journals, vol. 42(2), pages 445-452, June.
    19. Searle, John R., 2005. "What is an institution?," Journal of Institutional Economics, Cambridge University Press, vol. 1(1), pages 1-22, June.
    20. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    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. Paul, Bénédique, 2012. "Technology and institutions: Theoretical aspects of institutional innovation and its deficiency in Haiti," MPRA Paper 39140, University Library of Munich, Germany.
    2. Paul, Bénédique, 2009. "Institutional capital: A new analytical framework on theory and actions for economic development," MPRA Paper 39018, University Library of Munich, Germany.
    3. Bénédique Paul, 2014. "Why Should Microfinance Organizations Invest In Clients Business Training? Empirical Results from the Haitian Microfinance Industry," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 2(4), pages 191-202.
    4. Paul, Bénédique & Garrabé, Michel, 2011. "Le capital institutionnel dans l'analyse du développement : Prolongement théorique et premier test empirique [Institutional Capital in Economic Development Analysis: Theoretical Continuation and Fi," MPRA Paper 39016, University Library of Munich, Germany.

    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. Paul, Bénédique, 2009. "Institutional capital: A new analytical framework on theory and actions for economic development," MPRA Paper 39018, University Library of Munich, Germany.
    2. Muyeba, Singumbe, 2019. "Institutional capital, urban poverty and household wealth in Cape Town," World Development Perspectives, Elsevier, vol. 16(C).
    3. Paul, Bénédique, 2012. "Technology and institutions: Theoretical aspects of institutional innovation and its deficiency in Haiti," MPRA Paper 39140, University Library of Munich, Germany.
    4. Ruba Aljarallah, 2021. "An Analysis of the Impact of Rents from Non-renewable Natural Resources and Changes in Human Capital on Institutional Quality: A Case Study of Kuwait," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 224-234.
    5. Alberto Battistini, 2008. "Micro-Founded Institutions and Macro-Founded Individuals: The Dual Nature of Profit," Department of Economics University of Siena 550, Department of Economics, University of Siena.
    6. Joseph Keneck Massil, 2016. "Institutions, théories du changement institutionnel et déterminant de la qualité des institutions: les enseignements de la littérature économique," EconomiX Working Papers 2016-4, University of Paris Nanterre, EconomiX.
    7. Machiko Nissanke, 2015. "A Quest for Institutional Foundations Towards Inclusive Development in Sub-Saharan Africa," WIDER Working Paper Series wp-2015-049, World Institute for Development Economic Research (UNU-WIDER).
    8. Åsa Johansson, 2016. "Public Finance, Economic Growth and Inequality: A Survey of the Evidence," OECD Economics Department Working Papers 1346, OECD Publishing.
    9. Ofori, Isaac K. & Figari, Francesco, 2022. "Economic Globalisation and Inclusive Green Growth in Africa: Contingencies and Policy-Relevant Thresholds of Governance," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Forthcomi, pages 1-1.
    10. Zoltán Bartha & Andrea S. Gubik, 2014. "Characteristics Of The Large Corporation-Based, Bureaucratic Model Among Oecd Countries – An Foi Model Analysis," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 1, pages 1-20, March.
    11. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    12. Ashok Chakravarti, 2012. "Institutions, Economic Performance and the Visible Hand," Books, Edward Elgar Publishing, number 14751.
    13. Mohammad Sharif Karimi & Elham Heshmati Daiari, 2018. "Does Institutions Matter for Economic Development? Evidence for ASEAN Selected Countries," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 22(1), pages 1-20, Winter.
    14. Capolupo, Rosa, 2009. "The New Growth Theories and Their Empirics after Twenty Years," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-72.
    15. Amponsah, Mary & Agbola, Frank W. & Mahmood, Amir, 2021. "The impact of informality on inclusive growth in Sub-Saharan Africa: Does financial inclusion matter?," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1259-1286.
    16. Otto Brøns-Petersen, 2017. "30 Years of Tax Reforms: How Much Impact on Danish Growth?," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Dimitrios D. Thomakos & Konstantinos I. Nikolopoulos (ed.), Taxation in Crisis, chapter 6, pages 121-144, Palgrave Macmillan.
    17. Koroso, Nesru H. & Zevenbergen, Jaap A. & Lengoiboni, Monica, 2019. "Land institutions’ credibility: Analyzing the role of complementary institutions," Land Use Policy, Elsevier, vol. 81(C), pages 553-564.
    18. Georgina M. Gómez, 2018. "Why do people want currency? Institutions, habit, and bricolage in an Argentine marketplace," Evolutionary and Institutional Economics Review, Springer, vol. 15(2), pages 413-430, December.
    19. Machiko Nissanke, 2015. "A quest for institutional foundations towards inclusive development in Sub-Saharan Africa," WIDER Working Paper Series 049, World Institute for Development Economic Research (UNU-WIDER).
    20. Soogwan Doh & Edmund J. Zolnik, 2012. "Social capital and entrepreneurship: an empirical analysis of the role of social capital in self-employment," Chapters, in: Charlie Karlsson & Börje Johansson & Roger R. Stough (ed.), Entrepreneurship, Social Capital and Governance, chapter 7, pages 160-191, Edward Elgar Publishing.

    More about this item

    Keywords

    Institutions; Institutional Capital; Institutionalism;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

    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:pra:mprapa:39017. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.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.