道格拉斯·诺思( Douglass North )指出，一国的经济表现很大程度上取决于其支撑市场的制度，它们的种类和质量。制度是约束人类经济行为的正式和非正式的规则。产权和交易成本是其基本的决定因素。他认为，经济变迁主要依赖于“适应性效率”（adaptive efficiency），即一个社会在创建富有成效的、稳定、公平和被广泛接受的制度方面的有效性。重要的是，这些制度还需要足够灵活，以便能够根据政治和经济方面的反馈而更替。
Douglass North noted economic performance is determined largely by the kind and quality of institutions that support markets. Institutions are the formal and informal rules that constrain human economic behavior. Property rights and transaction costs are fundamental determinants. He argues that economic change depends largely on “adaptive efficiency,” a society’s effectiveness in creating institutions that are productive, stable, fair, and broadly accepted–and, importantly, flexible enough to be changed or replaced in response to political and economic feedback.
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未经允许不得转载：我的生活分享 » 《UNDERSTANDING THE PROCESS OF ECONOMIC CHANGE》PDF+mobi+epub高清完整电子版
