Social Sciences
8 years ago

Informal institutions shape economic decisions in transition economies, study finds.

An Institutional Approach to Transition Processes
Elma van de Mortel

Paper Summary

Transition economies are unique due to the influence of informal institutions on economic decisions. Political reforms and institutional changes play a crucial role in shaping these economies. Socio-economic performance during transition impacts enterprise restructuring. Catastrophe theory can illustrate different transition paths.

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