ARTICLE TITLE: Economic Enigmas of the Informal Institutions
AUTHORS: Tambovtsev V.
ABSTRACT: Formal and informal institutions’ distinguishing is connected with their enforcement mechanisms differences: for the former it is specialized one, for the latter it is unspecialized one. By reference to it, two informal institutions’ economic enigmas are analyzed: why people enforce informal institutions without direct payments, and why some informal institutions remain unformalized, while the formal institutions’ enforcers can gain stable income.
KEYWORDS: institutional economics , formal institutions , informal institutions , informal practices
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