Contents	5
	Contributors	9
	Acknowledgements	13
	Introduction	14
	Section I The Domain of New Institutional Economics	33
	1. Institutions and the Performance of Economies Over Time	34
	2. The Institutional Structure of Production1	44
	3. Transaction Cost Economics	54
	Section II Political Institutions and the State	80
	4. Electoral Institutions and Political Competition	82
	5. Presidential versus Parliamentary Government	104
	6. Legislative Process and the Mirroring Principle	136
	7. The Performance and Stability of Federalism: An Institutional Perspective	162
	Section III Legal Institutions of a Market Economy	187
	8. The Many Legal Institutions that Support Contractual Commitments	188
	9. Legal Systems as Frameworks for Market Exchanges	218
	10. Market Institutions and Judicial Rulemaking	242
	11. Legal Institutions and Financial Development	264
	Section IV Modes of Governance	293
	12. A New Institutional Approach to Organization	294
	13. Vertical Integration	332
	14. Solutions to Principal-Agent Problems in Firms	362
	15. The Institutions of Corporate Governance	384
	16. Firms and the Creation of New Markets	414
	Section V Contractual Arrangements	446
	17. The Make-or-Buy Decision: Lessons from Empirical Studies	448
	18. Agricultural Contracts	478
	19. The Enforcement of Contracts and Private Ordering	504
	Section VI Regulation	526
	20. The Institutions of Regulation: An Application to Public Utilities	528
	21. State Regulation of Open-Access, Common- Pool Resources	558
	22. Property Rights and the State	586
	23. Licit and Illicit Responses to Regulation	604
	Section VII Institutional Change	623
	24. Institutions and Development	624
	25. Institutional and Non-Institutional Explanations of Economic Differences	652
	26. Institutions and Firms in Transition Economies	680
	27. Social Capital, Social Norms and the New Institutional Economics	714
	28. Commitment, Coercion, and Markets: The Nature and Dynamics of Institutions Supporting Exchange	740
	Section VIII Perspectives	801
	29. Economic Sociology and New Institutional Economics	802
	30. Doing Institutional Analysis	832
	Subject Index	862
	Author Index	880