Abstract
The analysis of businesses between actors based in unstable institutional setups demands a theoretical basis that takes the omnipresent role of institutions into consideration. In the frame of the New Institutional Economics (NIE), institutions function as constraints and shape the behavior of economic actors. Following North, the NIE simply postulates: “[w]hen it is costly to transact, then institutions matter. And it is costly to transact.”
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© 2014 Springer Fachmedien Wiesbaden
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Schrammel, T. (2014). Theoretical background. In: Clusters as an instrument to bridge institutional voids in transition economies. Markt- und Unternehmensentwicklung Markets and Organisations. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-05725-1_2
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DOI: https://doi.org/10.1007/978-3-658-05725-1_2
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Publisher Name: Springer Gabler, Wiesbaden
Print ISBN: 978-3-658-05724-4
Online ISBN: 978-3-658-05725-1
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