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What is Authoritarian State

Chapter 2
Comparative Approaches to Old and New Institutional Economics
It is a political system in which the political power is condensed into one authority figure. Authoritarian state is characterized by strong central power and limited individual freedoms. In authoritarian states, the emphasis is on the provision of private goods for the elites rather than providing public goods. Moreover, property rights of non-elites tend to be disregarded in such states.
Published in Chapter:
Re-Thinking the Role of Institutions in Neoliberalism From New Institutional Economics Perspective
Ilke Civelekoglu (Istanbul Ticaret University, Turkey) and Basak Ozoral (Istanbul Ticaret University, Turkey)
Copyright: © 2020 |Pages: 16
DOI: 10.4018/978-1-7998-0333-1.ch002
Abstract
In an attempt to discuss neoliberalism with a reference to new institutional economics, this chapter problematizes the role of formal institutions in the neoliberal age by focusing on a specific type of formal institution, namely property rights in developing countries. New institutional economics (NIE) argues that secure property rights are important as they guarantee investments and thus, promote economic growth. This chapter discusses why the protection of property rights is weak and ineffective in certain developing countries despite their endorsement of neoliberalism by shedding light on the link between the institutional structure of the state and neoliberalism in the developing world. With the political economy perspective, the chapter aims to build a bridge between NIE and political economy, and thereby providing fertile ground for the advancement of NIE.
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