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Path dependence and path creation as the most important concepts in evolutionary economics

Path dependence and path creation as the most important concepts in evolutionary economics

Journal of Economic Regulation, , Vol. 4 (no. 3),
p. 103-112

The paper is devoted to presentation of the basic assertions of the path dependence and path creation concepts. Significance of these concepts for the evolutionary economics is revealed. The author provides examples of use of path dependence concept for analysis of technological and institutional changes. Causes of path dependence are systematized. Significance of mathematical and physical analogies for formal modeling of path dependence is shown. The criticism and the various attempts to refute the path dependence concept are considered. The path creation concept is interpreted as an example of improving of the concept of path dependence. The author integrates ideas of evolutionary concept of path creation and neoinstitutional concept of interest groups for influence evaluation of entrepreneurs, groups and organizations on trend of institutional change.


Keywords: evolutionary economics; path dependence; path creation; efficiency of institutional change; interest groups

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Publisher: Ltd. "Humanitarian perspectives"
Founder: Southern Federal University
ISSN: 2078-5429