2001•Journal of Gansu Radio & Tv UniversityRequires access

The Role of Institutional Innovation in Economic Development

Gao Yu

Abstract

Either in the socialist economy or capitalist economy, the production should be coordinated and conflicts among producers settled inthe capacity of the institution. The paper makes an objective analysis of the role of institutional innovation in economic development and then points out that the core of economic growth lies in institutional innovation.

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Key concepts: Economic system, Institution, Production (economics), Innovation economics, Core (optical fiber), Institutional economics, Economics, Institutional change