Институционална промяна и икономическо развитие

Abstract

This paper presents the theory of Douglass North that explains the ways in which institutions and institutional change affect the performance of economies. Institutions exist due to the uncertainties involved in human interaction. They are the constraints devised to structure that interaction. Institutions vary greatly in their consequences for economic performance. Some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation.