2002•Unpublished venueRequires access

Williamson's Comment on New System Economics

Liu Feng-y

Abstract

Williamson took stock and looked ahead for the new institutional economics at the beginning of new century. He dealt with that the theory of property rights and governance was the main content in the new institutional economics. The methodology in the new institutional economics was origins in good critics of the neoclassic economics and it was not likely favorable the method of formalization. Finally, Williamson took Russia as an example and emphasized the condition that the new institutional economics was applied, and the issues that needed to study more.

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Key concepts: New institutional economics, Institutional economics, Property rights, Economics, Corporate governance, Schools of economic thought, Applied economics, Neoclassical economics