Browsing by Subject "Institutional economics."

Now showing 1 - 3 of 3

Open Access
Interest groups and institutional evolution
(2011) Arasıl, Yavuz
This study proposes an original formal political economy model of institutional evolution to analyze the effects of evolving interest groups on institutional change by extending the model of Neyaptı (2010). Institutions are categorized as formal (F) and informal (N) institutions that exhibit different evolutionary patterns. N evolves with capital accumulation, as in learning by doing, and F is optimally chosen by a government who maximizes the weighted sum of the utilities of two different interest groups. The level of informal institutions, which represents business ethics, way of doing business or the level of technological know-how, differs for each group. F and N together define the production technology and affect the income level of each group. The model is such that institutions, as well as the levels of income and capital stocks are dynamically interrelated. The simulations of the model show that F exhibits a punctuated evolutionary path. This path is observed to be affected by income share of the institutions, income share of the capital, saving rate and cost of institutional change.
Open Access
Markets as institutions
(1995) Başçı, Erdem
This dissertation investigates resource allocation via institutions. A unifying framework for studying various kinds of institutional structures is provided. After the introductory Part 1, Part 2 presents the general model (Chapter 1) and studies existence of equilibria (Chapter 2). Part 3 provides applications to general equilibrium models under complete markets (Chapter 3), public goods and Lindahl prices (Chapter 4), generalized price systems and sales taxes (Chapter 5), lemons type quality problems (Chapter 6). adverse selection and money (Chapter 7), and a model with Markov technologies and freedom effects on utilities (Chapter 8). welfare implications of most applications are investigated. Chapter 9 discusses further applications and possible future research topics.
Open Access
Same situation, different terminus : lessons regarding relations between Turkey and Greece and South Korea and Japan from 1948 to 1965
(2008) Kim, Changsob
In 1948, Turkey-Greece and South Korea-Japan relations were in similar situations of a historical national animosity, perception of communist threat, and strategic interests of an alliance with the U.S. In 1965, whereas the North Eastern case came to a „more peaceful‟ convergence, the Mediterranean case reached „a conflictual type‟ of divergence. The aim of this thesis is to reveal the reason, comparing the two American solutions, which employed two theories, namely, institutionalism and economic interdependence: NATO in the Mediterranean case and bilateral trade in the North Eastern one. Through the use of theoretical and historical/empirical approach, this thesis highlights two findings: (1) in dyadic level of conflict, an economic solution was more successful than the NATO solution, and (2) the formation of direct bilateral relations was easier to eliminate historical enmity and establish peace than multilateral ones. I conclude that bilateral economic interdependence is far more effective in building peaceful relations between states compared to multilateral institutionalism.