An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures.

Using in-depth case studies of a wide-range of political, social and economic reforms in contemporary China this volume sheds light on the significance and consequences of institutional change for stability of the political system in China. The contributors examine how reforms shape and change Communist rule and Chinese society, and to what extent they may engender new legitimacy for the CCP regime and argue that authoritarian regimes like the PRC can successfully generate stability in the same way as democracies. Topics addressed include: ideological reform, rural tax- for-fees reforms, elections in villages and urban neighbourhood communities, property rights in rural industries, endogenous political constraints of transition, internalising capital markets, the media market in transition, the current social security system, the labour market environmental policy reforms to anti-poverty policies and NGOs. Exploring the possibility of legitimate one-party rule in China, this book is a stimulating and informative read for students and scholars interested in political science and Chinese politics

This book theorizes subversive action, a neglected mechanism in the new institutionalism literature. Subversive action is political in nature, secretly undermining some institutions to open up alternative ideas or to secure existing institutions by secretly undermining adversaries. An example is a politician who promises change in public, but does something else behind the scenes to preserve the status quo. The book addresses the nature and meaning of subversive action and the contexts that give rise to it, as well as how it can work as an important mechanism behind institutional change and continuity. The book will interest students and scholars of public policy, public administration and political science.

Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.

From a theoretical point of view, explaining institutional stability and institutional change has remained a difficult task. The new institutional economics initially identified economic efficiency as the main driver of institutional change. In more recent times, it has been recognized that efficiency considerations alone don't always account for institutional change, and that the direction of change may significantly be affected by cultural factors and cognitive limitations. Conceptualizing these seemingly intuitive notions has proven very difficult. In this paper, I introduce the concepts of mutually reinforcing practices and of belief networks to explain several to account both for institutional stability and institutional change. I illustrate the usefulness of these concepts by focusing on several puzzling practices of marine insurance. I show that transaction costs and cognitive limitations are poor explanations of the entrenched nature of these institutions. I demonstrate that networks of beliefs and practices are a better explanation of the stability of these institutions. In a second step, I focus on two critical events, the crisis of the international maritime industry and exogenous regulatory and economic shocks, as an opportunity to better understand the mechanisms of institutional change. Central to this discussion are two questions: why did these changes occurred only in the late 20th century and not earlier, and what may account for the direction of the observed institutional change. I show that neither efficiency nor power explain this institutional transition. I identify three key factors that have triggered this transition, generalized uncertainty, periodicity, and economic impact. Finally, I provide some evidence for the hypothesis that updated practices of marine insurance are compatible with an institutional transition that minimizes changes to existing belief networks.

"This book examines current theories of institutional change. The chapters highlight the limitations of these theories. Instead a model emerges of contemporary political economies developing in incremental but cumulatively transformative processes"--Provided by publisher.