Table Of ContentPALGRAVE STUDIES
IN DEMOCRACY,
INNOVATION, AND
ENTREPRENEURSHIP
FOR GROWTH
INSTITUTIONALIST
PERSPECTIVES ON
DEVELOPMENT
A Multidisciplinary Approach
Edited by
Spyros Vliamos and
Michel S. Zouboulakis
Palgrave Studies in Democracy, Innovation,
and Entrepreneurship for Growth
Series Editor
Elias G. Carayannis
The George Washington University
Washington, DC, USA
The central theme of this series is to explore why some areas grow and others
stagnate, and to measure the effects and implications in a trans-disciplinary context
that takes both historical evolution and geographical location into account. In
other words, when, how and why does the nature and dynamics of a political
regime inform and shape the drivers of growth and especially innovation and
entrepreneurship? In this socio-economic and socio-technical context, how could
we best achieve growth, financially and environmentally?
This series aims to address such issues as:
• How does technological advance occur, and what are the strategic processes
and institutions involved?
• How are new businesses created? To what extent is intellectual property
protected?
• Which cultural characteristics serve to promote or impede innovation? In
what ways is wealth distributed or concentrated?
These are among the key questions framing policy and strategic decision-
making at firm, industry, national, and regional levels.
A primary feature of the series is to consider the dynamics of innovation and
entrepreneurship in the context of globalization, with particular respect to emerg-
ing markets, such as China, India, Russia, and Latin America. (For example, what
are the implications of China’s rapid transition from providing low-cost manufac-
turing and services to becoming an innovation powerhouse?
How do the perspectives of history and geography explain this phenomenon?)
Contributions from researchers in a wide variety of fields will connect and relate
the relationships and inter-dependencies among (1) Innovation, (2) Political
Regime, and (3) Economic and Social Development. We will consider whether
innovation is demonstrated differently across sectors (e.g., health, education, tech-
nology) and disciplines (e.g., social sciences, physical sciences), with an emphasis
on discovering emerging patterns, factors, triggers, catalysts, and accelerators to
innovation, and their impact on future research, practice, and policy.
This series will delve into what are the sustainable and sufficient growth mecha-
nisms for the foreseeable future for developed, knowledge-b ased economies and
societies (such as the EU and the US) in the context of multiple, concurrent and
inter-connected “tipping- point” effects with short (MENA) as well as long (China,
India) term effects from a geo-strategic, geo-economic, geo-political and geo-
technological set of perspectives.
This conceptualization lies at the heart of the series, and offers to explore the
correlation between democracy, innovation and growth.
More information about this series at
http://www.palgrave.com/gp/series/14635
Spyros Vliamos • Michel S. Zouboulakis
Editors
Institutionalist
Perspectives
on Development
A Multidisciplinary Approach
Editors
Spyros Vliamos Michel S. Zouboulakis
Neapolis University Pafos University of Thessaly
Pafos, Cyprus Volos, Greece
Palgrave Studies in Democracy, Innovation, and Entrepreneurship for Growth
ISBN 978-3-319-98493-3 ISBN 978-3-319-98494-0 (eBook)
https://doi.org/10.1007/978-3-319-98494-0
Library of Congress Control Number: 2018959446
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C
ontents
Editors’ Introduction 1
Spyros Vliamos and Michel S. Zouboulakis
References 6
Part I Institutional Roots of Development 9
1688 and All That: Property Rights, the Glorious Revolution
and the Rise of British Capitalism 11
Geoffrey M. Hodgson
1 Introduction 11
2 1688, the Balance of Power and Property Rights 13
3 Bad Timing: The Evolution of Property Rights in England 17
4 Economic Growth and the Balance of Class Power 24
5 The Financial and Administrative Revolutions 27
6 Conclusion: From Critique to Reconstruction 35
References 38
The Contemporary State and Interests: A Framework of
Analysis 45
Anna Zab̨ kowicz and Sławomir Czech
1 Introduction 45
2 A Historical Perspective on Market Economy and Capitalism 47
v
vi CoNTENTS
3 The Matrix of Interests in Contemporary Stage of Capitalism 50
4 Concluding Comments 56
References 57
NGO in the Modern State 59
Agnieszka Joanna Legutko
1 Historical Overlook 60
2 State, Market and Civil Society 63
3 The NGO: Definition Attempt 66
4 Present Stage of NGO Development 68
5 Conclusions 70
References 72
Freedom and Friendship: Some Thoughts on the Renewal of
Our Democracy 75
Guy Féaux de la Croix
1 The Fraternity of the Democrats 79
2 The Rule of the People 81
3 The People’s Political Responsibility 81
4 Populism and Ethical Politics 82
5 Education and Culture 83
6 Interests and Ethics 83
7 Elites and Social Cohesion 84
8 Democracy in the Times of Globalization 85
9 Digital Media and Democracy 85
10 T he Democratic Deficit of the European Union 86
11 C onclusions 86
The Institutional Impact on Economic Development in Iran 89
Yadollah Dadgar and Rouhollah Nazari
1 Introduction 89
2 T he Different Impacts of Institutions on Development in
Different Countries (Emphasis on Iran) 91
3 The Interrelationship Between Institutions and Economic Growth 92
3.1 General Background 92
3.2 Main Channels of Institutional Performance 93
4 Introducing the Model and Analyzing the Results 94
5 Concluding Remarks 97
References 98
CoNTENTS vii
Part II Theoretical Insights of Institutions 103
Critical Realism in the Analysis of National Innovation
Systems 105
Emmanuel D. Adamides
1 Introduction 105
2 University-Industry Relations in the NIS Context 107
3 Critical Realism 109
4 The Social Structures of the Economy: Bourdieu’s Social Practice
Theory 112
5 A Critical Realist Perspective on the University-Industry
Relations: The Case of Greece 113
5.1 Industry and Innovation 113
5.2 Research in Universities and Public Research Institutes 116
6 The Fields of Industry and Research in Greece as Underlying
Causal Mechanisms: Homologies, Symbolic Distance and Idle
Mechanisms 117
7 Conclusions 119
References 120
From Commons Dilemmas to Social Solutions: A Common
Pool Resource Experiment in Greece 125
Paschalis Arvanitidis and Fotini Nasioka
1 Introduction 125
2 The Game 128
2.1 Design 129
2.2 Results 130
3 Conclusions 137
Appendix 139
References 140
Public Goods, Club Goods and Specialization in Evolving
Collaborative Entities 143
Vasilis Zervos
1 Introduction 143
2 Economic Approaches and Specialization 145
viii CoNTENTS
3 Specialization in Collaboration: From Production to Allocative
Efficiency 147
4 Government-Industry Interactions in Strategic Sectors 151
5 An Illustrative Model 153
6 Conclusions 158
Appendix 1 158
Appendix 2 160
References 162
Part III International Organizations and Development 163
The International Financial System and the Role of Central
Banks in the Great 2007–9 Recession and the ‘Monetary
Peace’ 165
Spyros Vliamos and Konstantinos Gravas
1 Introduction 165
2 Central Banks as Stability Factors of the International
Financial System 168
3 Central Banks Actions After the ‘Great Recession’ of 2007–9
and ‘Monetary Peace’ 172
3.1 The Cooperation of Central Banks 173
3.2 IMF and Monetary Peace 179
3.3 The Fourth Era of Central Banks 180
4 Conclusions 181
References 185
Institutions and International Political Economy: Realist
Readings of International Regimes 191
Ilias Kouskouvelis and Kyriakos Mikelis
1 Introduction 191
2 International Regimes: Basic Cartographies 193
3 The Role of Realism in Arguments Over International Regimes 196
4 The Dynamics of Realism’s ‘Institutional’ Opening 200
5 Concluding Remarks 203
References 206
CoNTENTS ix
EU–Russia Antagonism in South-Eastern Europe: The Energy
Factor 211
Andreas Stergiou
1 The Energy Parameter of the Overall EU–Russia Economic
Relationship 211
2 The South-Eastern European Field of the EU-Moscow Energy-
Economic Competition 217
3 The Impact of the Southern Gas Corridor on the EU-Russia
Relations 219
4 Conclusion 229
References 230
Declining Activity of the European Commission in Legislative
Initiatives: Is the Commission Losing Its Influence? 235
Jerzy Zab̨ kowicz
1 Introduction 235
2 Statistics Seem to Speak Against the Commission … 237
3 … But Should They Be Interpreted Only as a Sign of the
Weakness of the Commission? 238
4 Coalition: But with Whom, and on What Terms? 240
5 The Community Method v. the Intergovernmental Method 241
6 Conclusions 244
References 244
Amendments to Legal Regulations in the Field of the
Enterprises Restructuring Procedures in Poland 249
Sylwia Morawska and Joanna Kuczewska
1 Introduction 249
2 EU Policy for Enterprises: Realization of the Second Chance
Principle 250
3 Amendments to Legal Regulations in the Field of the Enterprises
Restructuring Procedures in Poland 253
4 Conclusions 261
References 263
Index 265
