What is IPE (Institutional Political Economy)?


... Institutional Political Economy (IPE) is a term designed to embrace several set of theories, analyses, and models that come out from differentiated approaches but that also share a minimum set of characteristics. Some of the said characteristics relate to the approache adopted for building those theories and are best emphasized by the word Institutional. To adopt an institutionally oriented approach means to pay special attention to the existing structures or sets of legal rules and social norms that greatly, and in many ways, affect the human economic transactions under analysis. These institutional frameworks may be taken into account as potential explanatory variables but also as phenomena that being subject to marginal, sometimes revolutionary, change also deserve explanatory and prescriptive analysis.


... Yes. It can also be said that some other characteristics of those analyses relate to the human phenomena under investigation and are best depicted by the word Political.

To focus on political/collective decisions about economic affaires (instead of focusing on individual/market transactions) means to mainly direct the analysis to the arenas where voting for alternative actions is an ultimate requirement in order to get a collective decision passed, and then implemented. It must be said, however, that these collective aspects are also present in the processes of deciding taking place inside those private organizations that have both several stockholders and several organized groups of employees. That makes the said research orientation also suitable here. Since influences upon the behavior of others exist in all directions, and since there are even many persons that actively and simultaneously participate in market transactions, managerial activities, and political decisions, an account of the existing interrelationships is needed in order for a full picture of the phenomenon investigated to be presented and evaluated.

So, through this page and its linkages you should at least become persuaded of the significance of institutional arrangements for understanding collective/political human economic actions, and their consequences, including those oriented to change or reform the existing sets of legal rules and social norms. You should also become more inclined to endorse strategic, dynamic/evolutionary and democratic approaches to political economy affaires than static, equilibrium, and technocratic ones. Those objectives and principles, with some others, stand for my (Toboso's) research and teaching tasks at the University of Valencia.

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