Informal Institutions And Economic Performance

Ionel Bostan (), Flavian Clipa () and Raluca Irina Clipa ()

Knowledge Horizons - Economics, 2016, vol. 8, issue 2, 53–58

Abstract: Using the critical analysis of the literature,the paper brings into focus the role of informal institutions on economic performance. The main conclusion drawn from the analysis is that economic performance is structured on the optimal functioning of institutional arrangements in which informal institutions are of particular importance by catalyzing decrease transaction costs, requiring judicious contracts, in order to promote a climate of trust between economic and the entire society.

Keywords: Informal institutions; trust; transaction cost; economic performance (search for similar items in EconPapers)
JEL-codes: O43 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:8:y:2016:i:2:p:53-58

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