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Gut ding will weile haben? Dynamik institutioneller anpassungsprozesse und ihre wirtschaftlichen auswirkungen

Author: Witt, Michael A. INSEAD Area: Economics and Political ScienceIn: Wirtschaftspolitische Blätter, no. 2, 2007 Language: GermanDescription: p. 279-291.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: Industrial nations are under considerable pressure to adapt their institutional structures. Some states are able to do so more quickly than others. A key determinant of the speed with which states are able to complete institutional adjustment processes is the extent of societal coordination in the political economy. A higher extent of societal coordination is associated with greater time intensity of institutional adjustment processes. This may have adverse implications for the economy. For states with relatively high degrees of societal coordination, this raises the question of whether the structure of the institutional adjustment processes itself is not in need of adjustment.
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Industrial nations are under considerable pressure to adapt their institutional structures. Some states are able to do so more quickly than others. A key determinant of the speed with which states are able to complete institutional adjustment processes is the extent of societal coordination in the political economy. A higher extent of societal coordination is associated with greater time intensity of institutional adjustment processes. This may have adverse implications for the economy. For states with relatively high degrees of societal coordination, this raises the question of whether the structure of the institutional adjustment processes itself is not in need of adjustment.

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