The old theory of economic policy and the new institutionalism
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Keywords
new institutionalism
policy
instruments and targets
information and uncertainty
structural change
political economy
Hoover Institution
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I thank the Bradley Foundation for funding, and members of the Max Planck Institute for Research into Economic Systems in Jena for their comments during a presentation. I also thank two reviewers of this journal. The original version of the essay (with a different title) was prepared for a Workshop on Economic Transformation, Institutional Change. Property Rights, and Corruption, organized by The National Academy of Sciences/National Research Council, Commission on Behavioral and Social Sciences and Education, Washington, DC. I thank participants of the workshop for valuable comments.
Copyright © 1997 Published by Elsevier Ltd.