Comparison of Marxism Institutional Economics and Neoinstitutional Economics
Ran Hong-we
Abstract
Ran Hong-we
Abstract
The institution reform in China has come to a critical stage, where the factor of institution can explain most of the issues in China's economic development. In both Marxism institutional economics and neoinstitutional economics, institutional analysis is regarded as the endogenous variable, exploring from its own angle the relationship between institution and economy. Such exploration may act as the guide for the macro-adjustment and economic operation in China's institutional reform.
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The institution reform in China has come to a critical stage, where the factor of institution can explain most of the issues in China's economic development. In both Marxism institutional economics and neoinstitutional economics, institutional analysis is regarded as the endogenous variable, exploring from its own angle the relationship between institution and economy. Such exploration may act as the guide for the macro-adjustment and economic operation in China's institutional reform.
Key concepts: Institution, China, Institutional economics, Economics, Institutional theory, Positive economics, Macro, New institutional economics