Disintegration in ana institutionalized world

Ewa Gruszewska ()
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Ewa Gruszewska: University of Bialystok

Ekonomia i Prawo, 2011, vol. 7, issue 1, 49-66

Abstract: The institutionalized system is a result of human’s striving for an order that lowers the transaction costs and contributes to the increase of profits from economic activity. The system is still being transformed: new elements of the system are created; they are better fitted to a current economy status, they replace previous ones that did not show a satisfactory efficiency. The contradiction between formal and informal institutions may lead to a damage of existing solutions (namely formal ones).

Keywords: institutional system; transaction costs; integration (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkeip:v:7:y:2011:i:1:p:49-66

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