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Der Autor zeigt, daß Plato keine ausgeführte Institutionenlehre entwickelt hat. Vielmehr ist seine Philosophie über die menschlichen Angelegenheiten in ihrer prinzipiellen Intention dadurch charakterisierbar, daß sie von ihrem Grunde her tendenziell gegen jede Art der Verdinglichung, Objektivierung und Institutionalisierung gerichtet ist. Platos Philosophie stellt eine moralische Herausforderung an den Menschen, "nämlich die Zumutung einer absoluten, durch keinen Außenhalt entlasteten Innensteuerung einer durch Wissen und Einsicht starken, nämlich königlich-herrscherlichen Seele." Die aristotelische Philosophie über den Menschen sowie seine private und seine politisch-öffentliche Lebensweise ist demgegenüber vom Interesse an Institutionen, d.h. an differenzierten Formen von Außenhalt und dem richtigen Umgang mit ihnen, bestimmt. Als Institutionen betrachtet der Autor dabei nicht nur die gesellschaftlich normierten Ordnungen, sondern ebenso die in den einzelnen Subjekten gegebenen und durch Handeln in den objektiven Ordnungen erworbenen Handlungsdispositionen, also das, was Aristoteles und die antike Ethik insgesamt "Tugenden" und "Ethos" genannt haben. Die Darstellung der Aristotelischen Theorie der öffentlichen Ämter zeigt darüberhinaus, daß Aristoteles ein genaues Bewußtsein von der Abhängigkeit der konkreten politischen Institutionen von den differenten Interessenlagen der verschiedenen Regierungsformen besaß. (ICD)

Der Autor beschäftigt sich mit den neuen sozialen Bewegungen, die sowohl Kostengänger von Institutionen seien als auch eigensinnige Institutionalisierungen betrieben. Es wird u. a. festgestellt, daß sie dabei durchaus als rationalisierte und organisierte Formen kollektiven soziopolitischen Handelns angesehen werden können, die sich auf der Suche nach institutionellen Arrangements befinden und sich für die Gesamtgesellschaft sozialinnovativ auswirken können. Gegenwärtige Sozialbewegungen gewinnen ihre Energie nicht nur aus den Selbstbestimmungsbedürfnissen und emanzipatorischen Zielen von einzelnen. Ihr Anti-Institutionalismus speist sich aus der Erfahrung von Bedrohungen und Risiken, die von den bestehenden Institutionen ausgehen. Ihre zentrale Legitimation (die Entlastung von Angst und Unsicherheit) scheint ihre materielle Grundlage zu verlieren. Dies gilt für die vormals "erfolgreich" institutionalisierten ökonomischen Beziehungen, für sozialstaatliche Sicherungen, aber noch eindrucksvoller für mehr oder weniger neue Risiken. Das "Zeitalter der Unsicherheit" ist zudem durch Abbau von Regulierungen und die Suche nach neuen institutionellen Arrangements gekennzeichnet. Angesichts dieser gesellschaftlichen Umbrüche wirken neue soziale Bewegungen als Versuche, aktiv in die Gestaltung gesellschaftlicher Zukünfte und damit auch künftiger Institutionen einzugreifen. (TR)

We develop a model of cross-border acquisitions in which the foreign acquirer's ownership choice reflects a trade-off between easing the target's credit constraints and the costs of operating in an environment with weak institutions. Data on domestic and foreign acquisitions in emerging markets over the period 1990-2007 support the model predictions. The share of full foreign acquisitions is higher in sectors more reliant on external finance, in countries with lower financial development, and in countries with higher institutional quality. Sectoral external finance dependence accentuates the effect of country-level financial development and institutional quality. By contrast, the level of foreign ownership in partial acquisitions is insensitive to institutional factors and depends weakly on financial factors.

Die weberianische Institutionentheorie baut eine Brücke zwischen einer ""normativen"" und einer ""rationalen"" Auffassung der Institutionen. Sie begreift Institutionen weder als Restriktionen des eigennützigen Handelns noch als normativ geforderte Handlungsregeln, sondern setzt diese in eine Wechselbeziehung zum Sinn des Handelns. In dieser Perspektive erscheinen Institutionen sowohl als wertbezogene Handlungsregeln als auch als Erzeugungsmechanismen des Handlungssinns. Dem Doppelcharakter der Institutionen als Regulative und Sinnstifter des Handelns widmen sich die in diesem Band gesammelten

"Much of what can be subsumed under the label of 'political cosmopolitanism' argues that some internationalization of political authority is desirable because of the superior capability of international institutions in solving transnational problems. Surprisingly, however, few scholars have asked whether ordinary citizens share this way of thinking. To address this question, falsifiable hypotheses about the quality and scope conditions of such a 'public political cosmopolitanism' are derived from the literature and tested using the results of a representative survey of German citizens. I show that there is significant support for what I call the 'interdependence model' of cosmopolitan politicization: German citizens' perception of transnational interdependencies (in terms of functional sensitivity as well as moral commitments) fosters beliefs in the capability of international institutions to solve problems. This model has significant explanatory power over different levels of education, and thus disproves a common claim that cognitive mobilization is a crucial scope condition of cosmopolitan politicization. Remarkably, however, the relationships specified by the interdependence model are only marginally moderated by German citizens' sense of their own vulnerability, i.e. their beliefs that the national government is incapable of solving such problems." (author's abstract)

Considers the focus of the comparative political economy literatures, stressing the positive issues of how institutions work & why, as well as the state of current empirical estimates of their impacts. Following an introduction on the political economy of institutions that contextualized the specialized & policy-focused research arenas, attention turns to discussing how, in institutional political economy, studies have coalesced around the concepts of credibility in monetary policy & centralization & transparency in fiscal policy. Demonstrated is the salience of relating policy outcomes to economic fundamentals as well as the ideological or redistributive pursuits of political actors (eg, parties, interest groups) & the institutional policy-making context. How transparency & credibility relate is addressed along with how the study of monetary & fiscal policy institutions might be integrated. J. Zendejas

International audience ; We develop a model of cross-border acquisitions in which the foreign acquirer's ownership choice reflects a trade-off between easing the target's credit constraints and the costs of operating in an environment with weak institutions. Data on domestic and foreign acquisitions in emerging markets over the period 1990–2007 support the model predictions. The share of full foreign acquisitions is higher in sectors more reliant on external finance, in countries with lower financial development, and in countries with higher institutional quality. Sectoral external finance dependence accentuates the effect of country-level financial development and institutional quality. By contrast, the level of foreign ownership in partial acquisitions is insensitive to institutional factors and depends weakly on financial factors.

Public institutions performance has been the greatest concern for governments in different parts of the world. In Sierra Leone, the success of governments departments contribute towards the socio economic development of the country. Nevertheless, achieving exceptional performance in public institutions is encircled with enormous challenges that hinders the achievement of strategic objectives. Considering the quantum challenges surrounding public institutions performance, addressing those challenges requires consideration of numerous elements that could influence performance. However, this study focus on determinants of state institutions performance in Sierra Leone. The investigation started with an assessment of previous and existing performance benchmarks and then proceeded to its focus. This study was conducted in Freetown, using three public institutions as sample frame and obtained a sample size of 300 employees in a random manner, ranging from nonsupervisory to managerial level. We employed primary data collection method, using the Linkert scale system, which shows the following description: 5=Strongly Agree, 4=Agree, 3=Neutral, 2=Disagree, 1=Strongly Disagree. The study analysed primary data with descriptive statistics and correlational methods aided by SPSS 21. Data obtained from respondents shows that human capital development, rewards, effective and efficient administrative structure and personnel engagement determines state institutions performance. Respondents noted that if state institutions have efficient administrative structure, they would facilitate human capital development and empowerment, ensure efficient management of financial resources and engage personnel for effective job performance. The aforementioned elements constitute determinants of exceptional performance. This study is therefore noteworthy to performance management specialists, human capital enhancement professionals and public institutions in Sierra Leone.

Abstract Essays on Financial Crisis and Institutions by Sharon Leona Poczter Doctor of Philosophy in Business Administration University of California, Berkeley Professor Paul Gertler, Chair In late 2008, economies worldwide underwent close to complete economic paralysis in what has now been established as the worst financial crisis since the Great Depression. In response, economic research focused on understanding how a well-developed financial market such as the U.S. could fall victim to a severe financial crisis, behavior typically associated with less-developed economies. While important, the examination of the Great Recession is in some respects limited, as it is impossible to understand the long-term effects of the crisis and subsequent government response without post-crisis data. Further, information regarding the details of the implementation of government policy is typically politically sensitive and therefore not readily available to researchers. For these reasons, the empirical economic literature leaves several first order questions regarding the long term effects of financial crisis and subsequent government response unanswered. This dissertation hopes to fill that gap. Using micro-level longitudinal data from the Asian financial crisis of 1997 in Indonesia, I closely examine the long term effects of financial crisis and several government policy responses on firms in the financial and real side sectors. While the economic and institutional environment in Indonesia at that time had unique characteristics, similar reforms were carried not only then in other Asian countries, but during the Great Recession in economies worldwide. In particular, I carry out to my knowledge the first empirical assessment of the long term effects of a bank bailout program. This dissertation, therefore, hopes to provide general insight for economies undergoing severe financial distress, not only those in other emerging markets. Chapter 1 of this dissertation analyzes the long term effects of a bank bailout program on two central policy variables; lending and risk-taking. Using confidential information regarding the selection process of banks for government support, I show that the program was successful at increasing lending but not without increasing the riskiness of investment, even controlling for the amount of lending. This result provides evidence that a bailout policy aimed at simultaneously increasing lending while not engendering increased risk-taking is untenable. Chapter 2 focuses on how patterns of industry evolution in the manufacturing sector change over a financial crisis. As productivity is seen as key for economic growth, it is important for policymakers to understand which firms survive over a financial crisis, and how survivorship impacts long term industry productivity. If financial crisis facilitates "creative destruction", governments may not want to interfere by financially supporting failing firms. However, if gains to productivity following a crisis are not a direct result of creative destruction, other modes of government intervention may be favorable. Using industry decompositions for the population of manufacturing firms over a fifteen year period, I find that the crisis coincided with dramatic changes in productivity patterns within the manufacturing sector and that many of these changes were sustained in the long run. Further, results indicate that post-crisis growth was largely driven by new entry, providing preliminary evidence that reforms aimed at financially supporting lower productivity firms may be misplaced. The final chapter looks at the impact of privatization, another policy reform implemented as a response to the crisis, on firm-level productivity. This paper aims to understand if privatization is successful at increasing productivity in the Indonesian context, and also the mechanisms through which privatization leads to changes in efficiency. I find that privatization increases productivity via change in ownership per se, and that an increase in the competitiveness of the environment does not have a significant effect on changes to the efficiency of firms.