To what extent do some fundamental concepts of New Institutional Economics help explain the governance phenomenon?

Abstract

The paper is an attempt to describe synthetically the relationship between the New Institutional Economics theory and the problem of governance research. The undertaking requires, without doubt, an in-depth research and extensive analysis, taking into account the various concepts developed by New Institutional Economics, and above all used to analyze the phenomenon of governance. Of necessity, the present paper is a far incomplete analysis of the problem, but allows one to present the basic commonalities and differences between the logic of economic analysis and its subject – which in this case is governance. For the purpose of this text, we define governance in accordance with the model of network governance as put forward by Leach et al. (2007).