• Table of Contents
    • Abstract
    • Keywords
    • Article
      • Concepts and taxonomies
      • Formal institutions of the state
      • Private institutions
      • Private ordering with formal law in the background
      • For-profit private institutions
      • Group enforcement through social networks and norms
      • Evolution and transformation of governance institutions
    • See Also
    • Bibliography
    • How to cite this article

economic governance

Avinash K. Dixit
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Economic governance consists of the processes that support economic activity and economic transactions by protecting property rights, enforcing contracts, and taking collective action to provide appropriate physical and organizational infrastructure. These processes are carried out within institutions, formal and informal. The field of economic governance studies and compares the performance of different institutions under different conditions, the evolution of these institutions, and the transitions from one set of institutions to another.
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Keywords

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Article

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See Also

I thank Tore Ellingsen, Diego Gambetta, Karla Hoff, Eva Meyersson-Milgrom, Dani Rodrik, Oliver Williamson, and the editors for comments on previous drafts, and the National Science Foundation for research support.
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How to cite this article

Dixit, Avinash K. "economic governance." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 21 October 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_E000260> doi:10.1057/9780230226203.0431

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