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It is increasingly accepted that "institutions matter" for economic
organization and outcomes. The last decade has seen significant
expansion in research examining how institutional contexts affect
the nature and behavior of firms, the operation of markets, and
economic outcomes. Yet "institutions" conceal a multitude of issues
and perspectives. Much of this research has been comparative, and
followed different models such as "varieties of capitalism,"
"national business systems," and "social systems of production."
It is increasingly accepted that "institutions matter" for economic
organization and outcomes. The last decade has seen significant
expansion in research examining how institutional contexts affect
the nature and behavior of firms, the operation of markets, and
economic outcomes. Yet "institutions" conceal a multitude of issues
and perspectives. Much of this research has been comparative, and
followed different models such as "varieties of capitalism,"
"national business systems," and "social systems of production."
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