Institutions create the incentive structure in an economy and organisations will be created to take advantage of the opportunities provided within a given institutional framework north argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional . Institutions institutional change and economic performance political economy of institutions and decisions 1 economics theories i title ii series 33155 isbn 0 52i 39416 3 hardback rsbn 0 52r 39734 0 paperback series editors preface preface contents part i institutions i an introduction to institutions and institutional change. Political economy of institutions and decisions o continuing his groundbreaking analysis of economic structures douglass north here develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies both at a given time and over time. Institutions institutional change and economic performance it focuses on literatures in comparative political economy and organizational analysis rather than for instance social movements . Institutions institutional change and economic performance political economy of institutions and decisions douglass c north continuing his groundbreaking analysis of economic structures douglass north develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies