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ABSTRACTS

 

REVISTA DE ECONOMÍA INSTITUCIONAL No. 6, FIRST SEMESTER 2002

How did Economics Arrive to Such a Situation?
Geoffrey M. Hodgson [pdf] [html]

[Key words: Teaching of economics, plurality, tolerance, academic project, JEL: A11, A12, A20, A23]

In this short essay Hodgson denounces the superficiality in the teaching of economics and agrees with the student protests which have urged deep academic reforms. He also censures the absence of plurality and tolerance in teaching methods and argues that excessive mathematical formulation, together with the commercialization of knowledge and research have contributed to narrowing the approach of economics. He proposes the study of philosophy, economic history, history of ideas, as well as relevant social institutions and the practical conditions of social politics, should be as important as the academic requirement of knowledge of mathematics.

Has Colombia Finally Found an Agrarian Reform that Works?
Albert Berry [pdf] [html]

[Key words: agrarian reform, landlords, squatters, agrarian policies, property rights, JEL: N56, Q15]

This article assesses Colombian agrarian reforms from the beginning of the 20th century. It shows the positive and negative effects of Law 200 of 1936, criticizes the impact of INCORA in land distribution in the seventies and the failure of ‘campesino’ organizations that sought pacific agrarian reforms. The essay highlights the positive effects of DRI on ‘campesino’ income but recognizes its negative effects on social inequality. Also, it argues that the adoption of free market policies in the nineties deteriorated rural conditions and social inequality. Finally, it evaluates the scope of recent projects and offers some policy recommendations.

Toward a Theory of Social Capital
Gonzalo Vargas [pdf] [html]

[Key words: social capital, economic development, New Institutionalism, social organization, JEL: B52, D24, O15]

In the last decade, the concept of social capital has been widely accepted by academics, advisors and government officials, who have attributed to it virtuous effects on economic and social development. However, theoretical and applied literature gives many different meanings to the concept of social capital, leading to methodological difficulties. Thus, the concept of social capital is merely the entrance to a theoretical structure under construction, whose components and ‘materials’ come from different approaches. From a mainstream economics approach, the New Institutionalism offers important elements for the construction of this theory.

Endogenous Growth: Knowledge and Institutions
Óscar A. Benavides G. y Clemente Forero P. [pdf] [html]

[Key words: endogenous growth, human capital, technological knowledge, competence, multiple equilibrium, JEL: E22, O15, O32, O49]

This document develops an endogenous growth model in which it is possible to obtain a positive long run growth rate by combining investment in human capital and the endogenous advance of technological knowledge. The model shows the complementary characteristics of the two kinds of knowledge and implies the abandonment of the competitive equilibrium model because of the non-rival nature of technological knowledge. The model also shows the presence of multiple equilibria and the requirement of a central planner for some of them.

The Evaluation of Results in the Modernization of the State in Latin America
Eduardo Weisner [pdf] [html]

[Key words: evaluation of results, modern State, reform process, evaluation strategies, JEL: H50, O20, O22]

This article shows how structural rigidities of public spending in different institutional situations have created a hostile environment in the market of evaluation of results. For this reason it is necessary to find a legal framework that encourages the process of evaluation. The key for the development of evaluation capacity lies in demand incentives that link evaluation results with budget planning. The essence of the evaluation process is therefore compiling and ordering information necessary for decision makers. Thus, evaluation of results and self-evaluation are indispensable for the modernization of the State in Latin America.

New Institutional Economics and Implementation Theory
Ernesto Cárdenas y Jaír Ojeda [pdf] [html]

[Key words: New Institutional Economics, Implementation Theory, transaction costs, property rights, methodological individualism, JEL: B52, D23, D78 ]

This paper shows how some of the most important concepts of the New Institutional Economics (NIE) can be expressed in terms of Implementation Theory (IT). First, it explains some of the expressions used by the NIE, such as institutions, transaction costs, property rights and methodological individualism. Afterwards, it gives a wide definition of the IT in order to establish correspondences between both theories.

 
 



Revista de Economía Institucional
Universidad Externado de Colombia
Cra. 1 No. 12-68 Casa de las Mandolinas
Bogotá, Colombia
(571) 2826066 ext. 1307
ecoinstitucional@uexternado.edu.co

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