Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/88243
Authors: 
Pryor, Frederic L.
Year of Publication: 
2004
Series/Report no.: 
Papers on Economics and Evolution 0414
Abstract: 
This essay argues that economic systems should be defined in terms of clusters of complementary institutions. To show how such an approach can be carried out, I use a cluster analysis technique and data on forty different economic institutions in OECD nations to isolate four quite different economic systems. After specifying the most important institutional clusters in each system, I then examine what impact these economic systems have on various indicators of economic performance. Finally, I show how such an approach allows particular evolutionary patterns of the systems to be analyzed.
Subjects: 
economic system
economic institutions
OECD nations
economic performance
JEL: 
P51
P10
C40
Document Type: 
Working Paper

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