Ion Pohoaţă, Landmarks in Institutional Economics: Book Review*

Oana-Ramona Socoliuc
(Doctoral School of Economics and Business Administration, Alexandru Ioan Cuza University of Iaşi, Romania)

Abstract: Institutional Economics is becoming the gravity center of all economic analyses promoted in order to explain development gaps between worldwide nations. Even so, in Romania, the interest in this field was not sufficiently explored, even though the past experiences of the country require a profound analysis and clear answers to which standard economic theories of growth and development failed. In such circumstances the profound analysis of Ion Pohoata, professor in economics and economic doctrines had the mission to clarify the major role of institutions in the society and furthermore, their impact on economic development. The book illustrates an interesting ingression in the impressive world of institutions, highlighting the fundamental contributions of the greatest economists to the rules of the game universe.

Key words: institutions; institutional change; genetic heritage; development gaps

JEL codes: O43, P14, B25, D23