Institutions and Institutional Change

Josip Lučev ()
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Josip Lučev: University of Zagreb

Chapter Chapter 3 in Systemic Cycle and Institutional Change, 2021, pp 43-84 from Springer

Abstract: Abstract This chapter outlines the central issues of institutional change in new institutionalism. It shows the foundations of new institutionalism through rational choice, sociological and historical institutionalism and their respective issues with explaining institutional change—with rational choice institutionalism focusing on optimization problems, sociological institutionalism on the spread and resilience of norms and historical institutionalism on path dependence. These three approaches do deal with change, but it must mostly be understood as exogenous. In other words, these approaches could mostly explain the effects of change, but not when and why the institutional change occurs. Then, this chapter dealt with the literature on comparative capitalisms, focusing on varieties of capitalism and the generations of research it engendered. The endogenous change issue persisted through the crucial logic of institutional complementarity within VofC. However, developments in recent years brought some novel solutions. The last section of this chapter identified five common or promising ways to conceive institutional change: evolutionary approaches, electoral approaches, power resource approaches, path dependence approaches, and mode of change approaches.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-66053-6_3

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DOI: 10.1007/978-3-030-66053-6_3

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