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Evolution of Markets and Institutions

Murali Patibandla
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A01=Murali Patibandla
agency theory
Air Deccan
Annual Average Gdp Growth
Author_Murali Patibandla
Auto Component Industry
Average Transaction Costs
BPO Industry
Category=KFFK
Comparative Economic Organization
corporate
corporate governance structures
cost
costs
economic policy reform India
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
era
Family Business Groups
FDI Inflow
Firm Switches
GE Capital
governance
Government Bodies
high
India's Software Industry
Indian Firms
India’s Software Industry
institutional change emerging economies
Institutional Environment Factors
Intermediate Product Market
International Competitiveness
Long Run Marginal Costs
MRTP Act
new institutional economics
ordering
post-reform
Post-reform Era
private
Private Order Institutions
property rights enforcement
Public Financial Institutions
Public Infrastructure
Public Order Institutions
Public Sector Firms
Tamil Nadu
transaction
transaction cost theory

Product details

  • ISBN 9780415339674
  • Weight: 830g
  • Dimensions: 156 x 234mm
  • Publication Date: 20 Apr 2006
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Hardback
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Description

The new institutional economics has been one of the most influential schools of thought to emerge in the past quarter century. Taking its roots in the transaction cost theory of the firm as an economic organization rather than purely a production function, it has been developed further by scholars such as Oliver Williamson, Douglas North and their followers, leading to the rich and growing field of the new institutional economics.

This branch of economics stresses the importance of institutions in the functioning of free markets, which include elaborately defined and effectively enforced property rights in the presence of transaction costs, large corporate organizations with agency and hierarchical controls, formal contracts, bankruptcy laws, and regulatory institutions. In this timely volume, Murali Patibandla applies some of the precepts of the new institutional economics to India - one of the world's most promising economies.
About Murali Patibandla
Copenhagen Business School, Denmark

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