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Reclaiming Institutions as a Form of Capital

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  • 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”.

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

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    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.

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    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;

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