Abstract
The legal and economic institutions in emerging economies normally undergo major changes during the transition to a market economy. The development of legal and economic institutions in such economies is discussed, and two different development paths are analyzed. One relates to economies with relatively better-developed economic institutions, and the other to those with relatively better-developed legal institutions. A series of propositions are developed to explain how different imbalances in institutional development might influence market competition, firms’ strategic choices, and firm performance. A three-stage model of economic development is proposed which attempts to account for the two different situations.
| Original language | English |
|---|---|
| Pages (from-to) | 675-702 |
| Number of pages | 28 |
| Journal | Management International Review |
| Volume | 59 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 1 Oct 2019 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
Free Keywords
- Competitive advantage
- Market transition
- Strategic choice
- Unbalanced institutions
ASJC Scopus subject areas
- Business and International Management
- Strategy and Management
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