7 Changing Institutions

7 Changing Institutions - Transitions Economics Important...

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Transitions Economics Important Issues Growth changes the performance calculus Markets and Institutions: They are not independent Who gets the gains: It matters
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Markets and Institutions They are not necessarily substitutes Two kinds of efficiency are needed Market Efficiency Organizational Efficiency Markets can maintain or build complex organizations Efficient organizations help markets work Key: ‘Market Solutions” is a Simplistic Answer
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Growth and Performance Two Types of Gains Scale * Larger Market for Existing Products * Basis for World Market Participation Scope * Options to Develop New Products * Options to Develop New Strategic Directions The Local Market Matters * It Can Be Protected * Firms are Stimulated by a Large, Open Market Key: Quantify, Don’t Dream Set a Clear Economic Value on Synergy
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How You Distribute the Gains Matters Efficiency or Rights? By Sector Managers vs. Workers Insider Capital? Better Knowledge (information) Better Connected (rights) Foreign Entities Licensing vs. Investment in Plants Using Foreign Financial Markets Ridiculous Key: Mal-distribution Creates Tension
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Markets and Governments Markets Exist Everywhere Some Markets are Self-Policing
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This note was uploaded on 02/10/2009 for the course MGMT 370 taught by Professor Tomroehl during the Fall '08 term at Western Washington.

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7 Changing Institutions - Transitions Economics Important...

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