Advancing Institutional Theorizing in Evolutionary Economics

Ron Boschma () and Koen Frenken

No 2532, Papers in Evolutionary Economic Geography (PEEG) from Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography

Abstract: With its focus on innovation, institutions have remain under-theorized in evolutionary economics. This paper aims to contribute to Nelson’s institutional agenda within evolutionary economics in two ways. First, we discuss the core concepts of organizational routines and natural trajectories from an institutional perspective. Second, we pick up on Nelson's co-evolutionary model linking technology, markets and institutions in economic development, and introduce the notion of ‘institutional relatedness’ to understand how institutions both constrain and enable economic development and structural change as well as how institutions channel the direction of institutional change itself.

Keywords: Nelson; evolutionary economics; evolutionary economic geography; institutional relatedness; institutional change; regional diversification (search for similar items in EconPapers)
JEL-codes: B15 B52 O18 O33 (search for similar items in EconPapers)
Date: 2025-10, Revised 2025-10
New Economics Papers: this item is included in nep-evo, nep-geo, nep-hme and nep-ino
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Persistent link: https://EconPapers.repec.org/RePEc:egu:wpaper:2532

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