Hodgson, Geoffrey M. - In: Journal of institutional economics : a … 21 (2025), pp. 1-19
' and 'informal' institutions. North often associated 'formal institutions' with rules enforced through a legal system. It … results. Some options concerning the meanings of 'culture' and their relation to institutions are briefly noted. Changes in …, and interactions between, 'formal' and 'informal' institutions are considered, with illustrative examples. Contrary to …