Government and the Economic Evolutions
Sadegh Bafandeh Imandoust and
Abdolali Monsef
Additional contact information
Sadegh Bafandeh Imandoust: Assistant Professor Economic Department, Payame Noor University, Iran
Abdolali Monsef: Assistant Professor Economic Department, Payame Noor University, Iran
Iranian Economic Review (IER), 2011, vol. 16, issue 1, 135-150
Abstract:
In this paper we try to investigate relationship between government and economic evolution. In order to accept that the efficiency and inefficiency of a market depends on capabilities of the governments in reducing the transactional costs, guaranteeing the property rights, and removing the traditional market failures. Regarding the new institutional approach it is assumed that the persons (private or public agents) seek their maximum benefits in accordance with the limitations and obligations exacted by that institutional structure. Concerning this assumption we may find out that the market of these services will go to its best status. Moreover, in case that the limitations and obligations enacted by those institution can regulate the behavior of the public agents in a manner that they could seek their maximum benefits in producing these services. These institutions are the rules arising from social culture (convention), formal regulations (such as constitution), and parties. Therefore, the history of economic evolution has had a tied with the historical evolution of these institutions.
Keywords: Institution; Government; Transactional costs; Third Party; Property right (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
ftp://80.66.179.253/eut/journl/20111-8.pdf (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eut:journl:v:16:y:2011:i:1:p:135
Access Statistics for this article
Iranian Economic Review (IER) is currently edited by Dr.Hossien Abbasinejad
More articles in Iranian Economic Review (IER) from Faculty of Economics,University of Tehran.Tehran,Iran Contact information at EDIRC.
Bibliographic data for series maintained by [z.rahimalipour] ().