Overview of Institutional Change Contexts and Dynamics

Adeleke O. Banwo (), Uchechi Onokala () and Paul Kojo Ametepe ()
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Adeleke O. Banwo: Consulate General of the Federal Republic of Nigeria
Uchechi Onokala: University of Lagos
Paul Kojo Ametepe: University of Lagos

A chapter in Dynamics of Institutional Change in Emerging Market Economies, 2021, pp 87-105 from Springer

Abstract: Abstract This chapter examines institutional change contexts and dynamics using different theories and perspectives. Institutions are prevalent in every society, designed to protect the common interest of all stakeholders, serve as restraints on government and economic agents, and provide a framework to model behaviors and decisions. However, institutional changes have diverse effects on the formal and informal sectors of the economy. The framework and institutional mechanism are shaped by diverse factors such as culture, context, public policies, and human behavior. Evidence from the literature review confirms that institutions experience gradual or disruptive changes depending on the competing interests of stakeholders in all contexts. Besides, understanding this construct is complex depending on the perspectives. The findings from this study reiterate the importance of using different perspectives to understand the interplay of endogenous, exogenous factors, and human behavior motivations in institutional change studies.

Keywords: Institutions; Institutional change; Public policies; Context; Human behavior motivations (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-61342-6_3

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DOI: 10.1007/978-3-030-61342-6_3

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