Transfer and Reception of New Institutional Economics: An Example of Two Universities in Serbia

Abstract

The research “Transfer and Reception of New Institutional Economics: An Example of Two Universities in Serbia” was conducted in 2005/2006. In order to achieve the goals of the Serbian team of the DIOSCURI project, the main aim of the case study is analysis of the influence of Western institutions in the light of transfer and reception of new institutional economics in two academic institutions in Serbia: The Faculty of Law (The Department of Law and Economics) of the University of Belgrade, and The Faculty of Management of BK University. The title of the case study illustrates the focus of the entire research: analysis of Western influence, namely transfer and reception of new institutional economics, on the two institutions and possible obstacles caused by old-fashioned stakeholders and informal institutions. Bearing in mind that the Department of Law and Economics is the leader in the reception of the new institutional economics (NIE) in Serbia, the case study will be mostly about it. The Faculty of Management was chosen because of its “greenfield” character and the fact that from its very beginning it followed the experiences of North American universities. The research investigates whether and how the transfer and reception of the Western ideas and economic theory, particularly the NIE, is affected by the difference between an institution with a two-hundred-year tradition and a newly established one. The question is how a traditionalist institution like the Faculty of Law communicated Western economic thought and whether endurance in teaching the exclusively Marxian paradigm up until the 1990s, was an obstacle to the reception of Western economic thought, particularly NIE.