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Latest Posts

Transactions and Legal Institutionalism: Part II

Posted on May 14, 2025May 14, 2025 by Nikhilesh Sinha

Summary of JOIE article (24 April 2025) by Geoffrey M. Hodgson International Management, Loughborough University London, London, UK. The full article is available on the JOIE website. Contracts, money, and applications Part I of this article reviews major differences in definitions by six leading authors of the transaction concept (Hodgson, 2025). Part II develops toward a…

Transactions and Legal Institutionalism: Part I

Posted on April 22, 2025 by Nikhilesh Sinha

Summary of JOIE article (22 April 2025) by Geoffrey M. Hodgson International Management, Loughborough University London, London, UK. The full article is available on the JOIE website. Prominent scholars have complained of confusion in the literature over what transactions are, and how their costs are measured. This two-part article explores this topic and suggests an alternative…

Toward polycentric federalism: Assessing federal institutional design in multiethnic African states

Posted on April 13, 2025April 13, 2025 by Nikhilesh Sinha

Summary of JOIE Article by Kaleb Demerew West Texas A&M University, USA, Samson Faboye, University of Johannesburg, South Africa and Sampson Edodi, University of Abuja, Nigeria. The full article is available on the JOIE website. Federalism has long been proposed as a governance solution for multiethnic African states struggling with identity-based conflict. Yet, despite constitutional…

Inclusive national innovation systems: rethinking institutions in the light of inclusion imperatives

Posted on April 13, 2025April 13, 2025 by Nikhilesh Sinha

Summary of JOIE article (25 February 2025) by Vanessa Casadella and Sofiane Tahi, LEFMI Lab., Picardie Jules Verne University, Amiens, France. The full article is available on the JOIE website. Since the 1990s, national innovation systems (NIS) have been the focus of a large body of literature highlighting the institutional performance of economies and the…

Formal and Informal Institutions: Some Problems of Meaning, Impact, and Interaction’ – A Summary

Posted on February 16, 2025February 16, 2025 by Nikhilesh Sinha

Summary of JOIE article (10 February 2025) by Geoffrey M. Hodgson International Management, Loughborough University London, London, UK. The full article is available on the JOIE website. Institutional research distinguishes between ‘formal’ and ‘informal’ institutions. Largely through the work of Douglass North, this terminology took off in the 1990s. North often associated ‘formal institutions’ with rules…

Walter Lippmann: an institutionalist for our times?

Posted on December 8, 2024December 8, 2024 by Nikhilesh Sinha

Summary of JOIE article (15 November 2024) by Shaun P. Hargreaves Heap and Paul Lewis, Department of Political Economy, King’s College, London. The full article is available on the JOIE website. Walter Lippmann bestrode the 20th century. He was an award winning journalist who had the ear of every President from Woodrow Wilson to LBJ. He wrote…

Polycentric Governance in Collusive Agreements

Posted on November 30, 2024November 30, 2024 by Nikhilesh Sinha

Summary of JOIE article (15 November 2024) by W. Benedikt Schmal, Economic Theory Group, Ilmenau University of Technology, Germany. The full article is available on the JOIE website. Corporate cartels are known for their capacity to manipulate markets while avoiding legal scrutiny, presenting themselves as fascinating examples of organisational innovation in illegal domains. This paper extends…

Call for Papers – Sveriges Riksbank Prizes

Posted on October 19, 2024October 20, 2024 by Nikhilesh Sinha

Sveriges Riksbank Prizes in Economic Sciences in Memory of Alfred Nobel After the recent announcement in October 2024, there are now 11 Nobel Laureates cited for work in institutional economics (broadly defined):  2024 Daron Acemoglu  2024 Simon Johnson  2024 James A. Robinson  2009 Elinor Ostrom  2009 Oliver E. Williamson  1993 Douglass C. North  1991 Ronald…

The Role of Political Institutions in the Economic Convergence Process

Posted on October 17, 2024October 17, 2024 by Nikhilesh Sinha

Summary of JOIE article ( 19 September 2024) by Laura Lopez Gomez, Faculty of Tourism and International Relations, University of Murcia, Murcia, Spain The full article is available on the JOIE website. Imagine the Eurozone as a grand marathon where each runner starts at different times and from various points, yet the ultimate goal is for everyone…

Environmental enforcement, property rights, and violence: evidence from the Brazilian Amazon

Posted on September 1, 2024September 1, 2024 by Nikhilesh Sinha

Summary of JOIE article ( 27 August 2024) by Gustavo Magalhães de Oliveira, Institute for Food and Resource Economics, University of Bonn and Bruno Varella Miranda, Insper Institute of Education and Research, São Paulo, Brazil. The full article is available on the JOIE website. When you think of Brazil, vibrant festivals and stunning landscapes often come…

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