Economic Transition and International Business

1 A Neo-Institutional Analysis of the Effects of the Crisis on Financial Regulation in the G20 Countries

Eric Milliot, Nadine Tournois and Jacques Jaussaud

During a crisis, the de-compartmentalisation of markets has a widespread domino effect that cannot be concealed. A thorough analysis of the consequences of the crisis that began in 2007 calls for a re-examination of the academic works concerning the exchange and development conditions within a society. For that reason, certain neo-institutional approaches seem to be especially helpful. Pursuing that line of thought, the theories of transaction costs (Williamson, 1975, 1985, etc.) and of institutional change (North, 1990, 1991, etc.) help in understanding some of the turbulence triggered ...