Research objectives and content
This project wants to introduce and to develop a new concept in institutional economics called "Dynamic Institutional Analysis"
this analytical framework wants to account for two different economic relationships, which are not necessarily mutually exclusive the dynamic impact of institutions on economic development and the inner dynamics of institutions themselves, i.e. the. endogenous change of institutions under the intense of decentralised actions.
The main aspect considered by this project will be the dynamic consequences of institutions on economic growth and on the volatility of the growth path. This Dynamic Institutions analysis will concentrate on institutions of the productive sector with its financial environment. At the centre of this project will be the interdependency between the employment relation and the choice of production techniques decided by the management. With this comes the analysis of the complementarily of institutions and of the strategic aspect of economic interactions. One of the expected results will be a taxonomy of institutional settings and their impact on the growth paths (rate and volatility)
Another important result concerns endogenous institutional change and transition between different growth regimes; condition and structures favouring pareto-optimal changes and -conversely-transitions into lock-ins may possibly be derived from this analysis.
Training content (objective, benefit and expected impact)
The training I can obtain at my host institution -the CEPREMAP, Paris- gathers aspects of new developments in Institutional Economics, modelling economic interactions via disequilibrium models and non-linear dynamical systems and insights in the evolution of production organisation and technology in modern economies. This permits me to deepen the analysis carried out in the project described above. Training can be mainly obtained via seminars but the direct contact with researchers are also highly important.
Links with industry / industrial relevance (22)