Adaptive Efficiency During the Great Recession - An Analysis of the Institutional and Organizational Determinants of Crisis Resilience

Robert Fritzsch provides an institutional economic analysis of the Great Recession. The author shows that institutions matter as determinants of crisis resilience - however in a different way than predicted by the prominent theories of Olson (1982) and North, Wallis, Weingast (2009), as the crisis was most severe in developed countries with democratic political institutions, rule of law and restrained regulations. The empirical results support theoretical predictions only within the sub-group of developed countries, where rule of law and restrained regulations show a positive association with crisis resilience.

List of contents

Political Institutions, Interest Group Activity and Crisis Resilience.- Economic Institutions and Crisis Resilience.

About the author

Robert Fritzsch is research associate at the chair of institutional economics and economic policy at the University of Erfurt.

Summary

Robert Fritzsch provides an institutional economic analysis of the Great Recession. The author shows that institutions matter as determinants of crisis resilience - however in a different way than predicted by the prominent theories of Olson (1982) and North, Wallis, Weingast (2009), as the crisis was most severe in developed countries with democratic political institutions, rule of law and restrained regulations. The empirical results support theoretical predictions only within the sub-group of developed countries, where rule of law and restrained regulations show a positive association with crisis resilience.  

Product details

• Authors: Robert Fritzsch
• Publisher: Springer, Berlin
• Languages: English
• Product format: Paperback / Softback
• Released: 30.09.2019
• EAN: 9783658274085
• ISBN: 978-3-658-27408-5
• No. of pages: 379
• Dimensions: 148 mm x 210 mm x 21 mm
• Weight: 511 g
• Illustrations: XVI, 379 p. 45 illus.
• Series: Wirtschaft und Politik
• Subjects: Social sciences, law, business > Political science > Politics and business; Wirtschaftswissenschaft, Recht, C, Economic Policy, Economics, Law and Economics, Economics and Finance, Management science, Public international law: economic & trade, Company, commercial & competition law: general, Heterodox Economics, Institutional/Evolutionary Economics, Evolutionary economics