Title: Instituce a výkonnost [Institutions and performance]
Abstract: The article is based on thesis that institutional quality influences economic performance. From this point of view under certain circumstance government policy is able to increase efficiency and performance of economies through creation, maintenance and cultivation of appropriate political and economic institutions (political and economic design). This way is not about state engineering indeed, but about possibility to accept and/or cancel measures which in principle influence both current production capability of economies and its long-term potential too. Authors do not refuse to analyse an influence of informal institutions, which undoubtedly create the spawn, out of all grown up. If state were to be understood in its minimal role, i. e. as guarantee and co-creator of basic well-established rules and/or institutions, rational economic policy could be able to influence process both to reduce transaction costs and to rise economic efficiency.
Publication Year: 2005
Publication Date: 2005-01-01
Language: en
Type: article
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Cited By Count: 1
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