2000•The Study of Finance and EconomicsRequires access

The Role of Socialist Government in Institutional Innovation

Fang Xiaoli

Abstract

Institutional factors are introduced into the analysis of economics,and institutional changes are considered as important dynamics in economic growth by New Institutional Economics.The subject of institutional changes includes organization,individual and the state.The socialist government plays three important roles in institutional innovation:building efficient property rights system,fostering markets,and facilitating the coordination between formal and informal institutions.

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Key concepts: Property rights, Institutional analysis, Economic system, Government (linguistics), Institutional economics, New institutional economics, Institutional theory, Institutional change