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.

Sommario

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

Info autore

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

Riassunto

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.  

Dettagli sul prodotto

• Autori: Robert Fritzsch
• Editore: Springer, Berlin
• Lingue: Inglese
• Formato: Tascabile
• Pubblicazione: 30.09.2019
• EAN: 9783658274085
• ISBN: 978-3-658-27408-5
• Pagine: 379
• Dimensioni: 148 mm x 210 mm x 21 mm
• Peso: 511 g
• Illustrazioni: XVI, 379 p. 45 illus.
• Serie: Wirtschaft und Politik
• Categorie: Scienze sociali, diritto, economia > Scienze politiche > Politica ed economia; 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