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Formal and informal institutional change: the experience of postsocialist transformation

Author

Listed:
  • Bernard Chavance

    (Université Paris Diderot, Paris 7, France)

Abstract
Diversity of trajectories of post-socialist transforming economies is a stylized fact of this experience of system change. The paper explores the relations between change in formal and informal rules in historical perspective, discussing new institutional views about rationality of formal institutions and detrimental inertia of informal institutions. It submits that an open and complex approach of the entrality of formal/informal rules interaction may give a better explanation to the ultiplicity of national postsocialist pathways.

Suggested Citation

  • Bernard Chavance, 2011. "Formal and informal institutional change: the experience of postsocialist transformation," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 47-62, January.
    • Handle: RePEc:fru:finjrn:110104:p:47-62
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    More about this item

    Keywords

    post-socialist transformation; diversity of trajectories; institutional change; formal rules; informal rules; enforcement;
    All these keywords.

    JEL classification:

    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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