DOI:
10.31063/2073-6517/2019.16-3.14
For citation:
Rozhdestvenskaya, I. A., & Tambovtsev, V. L. (2019). Import of Institutions and Diffusion of Ideas. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 16(3), 468-479
Abstract:
Governmental import of institutions and natural diffusion of borrowed rules are two institutional change trajectories that start with receiving information about a new institution from external sources. These trajectories differentiate through institutional innovations spread mechanisms. The former one implies the political market where political decisions are enforced by centralized coercion. The latter one is the institutional market where private decisions are enforced by decentralized actions of its participants. The paper analyzes particular qualities of the institutional change trajectories mentioned above and approaches to its exploration. It is shown that the import of institutions is studied now from the point of view of its efficiency for different stakeholders whereas the diffusion of ideas is studied from the standpoint of spread dynamics. The conclusion is drawn that these approaches are complementary.
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