The Role of Institutions in the Entrepreneurial Activity of Pulievi Brothers (1839 – 1868)

Ivaylo Naydenov ()
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Ivaylo Naydenov: Institute for Historical Studies, Bulgarian Academy of Sciences, Bulgaria

Proceedings of the Centre for Economic History Research, 2018, vol. 3, 258-269

Abstract: Documents relating to the commercial activities of the brothers Hristo, Nikola and Ivan T. Pulievi (1839-1868), allow to shed light on the problems that are underestimated in Bulgarian historiography. Such an issue is the role of the "institutions". In the proposed context, the term "institution" means bonds and relations between people. From this point of view, Douglass North and Avner Greif's view is particularly relevant, according to which the institutions are a system of rules, beliefs, level of trust. These are the so-called unofficial norms that occupy a significant place in the activity of the entrepreneurs from the period of the Bulgarian National Revival. Merchants in the Ottoman Empire were forced to develop their business in a situation of constant uncertainty, which is why the trust between them and the reputation they enjoyed played an important role in their entrepreneurial affairs. In this regard the mentioned above elements played a crucial role. On the other hand, in the preserved documents of Pulievi there is brief information about institutions that are based on official norms - written laws, normative acts, administrative structures that will also be analyzed.

Keywords: Bulgarian National Revival period; Pulievi; merchants; institutions; entrepreneurship; business ethics (search for similar items in EconPapers)
JEL-codes: N83 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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