Péter Ákos Bod

Institutions of Economic Policy

A Comparative Analysis


Limits to power

Markets need rules and organisational frameworks to function efficiently – this was our starting position here. Rules have roots in earlier ages, but are also shaped by people in positions of power who are either in hierarchy or in formally equal-status market situations. Organisational settings are formed by cultural and political factors, as well as aspects of operational efficiency. Since the seminal contribution of Coase (1937), economists have been using the term transaction costs, as distinct from the “classical” production costs, to explain the existing (that is, the real, not simply imagined) business and administrative organisations. These costs are especially high in organizations that function in changing environments, being exposed to high degrees of contingencies.

Institutions of Economic Policy

Tartalomjegyzék


Kiadó: Akadémiai Kiadó

Online megjelenés éve: 2020

ISBN: 978 963 059 970 2

The reader is introduced to the purpose, structure, and organizational features of the most important institutions of market economy, such as the Treasury (Ministry of Finance), central (national) bank, bodies responsible for structural changes, supervision of competition, and regulators of strategic industries. The focus of the book is on open trade dependent states, with particular emphasis new member states of the European Union where the institutional order has been shaped by legacies of previous era as well as by policy transfer and policy advice through membership in EU, OECD, IMF and other international institutions. The bulk of the book deals with the comprehensive analysis of institutions of fiscal, monetary, competition, social, spatial policies, and with the emerging trends of new practices.

Hivatkozás: https://mersz.hu/bod-institutions-of-economic-policy//

BibTeXEndNoteMendeleyZotero

Kivonat
fullscreenclose
printsave