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Unbalanced Institutions in Market Transition: How Do They Matter for Firm Strategic Choices and Performance in Emerging Economies?

Weiping Liu and Jiatao Li ()
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Weiping Liu: Shanghai University of Finance and Economics
Jiatao Li: Hong Kong University of Science and Technology

Management International Review, 2019, vol. 59, issue 5, No 1, 675-702

Abstract: Abstract The legal and economic institutions in emerging economies normally undergo major changes during the transition to a market economy. The development of legal and economic institutions in such economies is discussed, and two different development paths are analyzed. One relates to economies with relatively better-developed economic institutions, and the other to those with relatively better-developed legal institutions. A series of propositions are developed to explain how different imbalances in institutional development might influence market competition, firms’ strategic choices, and firm performance. A three-stage model of economic development is proposed which attempts to account for the two different situations.

Keywords: Unbalanced institutions; Market transition; Strategic choice; Competitive advantage (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s11575-019-00393-8

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