Explaining institutional change: aspects of an innovation in the new institutional economy
Abstract
Purpose
The purpose of the paper is to use systemic thinking to explain institutional change. The paper is conceptual, based upon conceptual generalizations.
Design/methodology/approach
The paper considers the question: how can one explain institutional changes? Explaining institutional change is demanded by several recent authors. An interpretation framework is first developed around explanations, where various perspectives on explanations are considered. Then the various perspectives are used to explain institutional change. Finally, an analytical model is developed to explain institutional changes.
Findings
The analytical model is used in order to develop a conceptual model to explain institutional changes in the economic system.
Originality/value
The paper breaks new ground in using systemic thinking to explain institutional change.
Keywords
Citation
Johannessen, J. (2008), "Explaining institutional change: aspects of an innovation in the new institutional economy", Kybernetes, Vol. 37 No. 1, pp. 20-35. https://doi.org/10.1108/03684920810850961
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited