Institutions Matter: An Introduction to the Role of Institutions in Public Policy

Julia Talbot-Jones

    Research output: Chapter in Book/Report/Conference proceedingChapter


    Institutions play a critical role in coordinating people’s behaviour and helping achieve socially optimal outcomes. This chapter explores the relationship between institutions and public policy, defining institutions from an economic perspective and explaining how and why some persist whilst others change. It uses a case study from the Murray-Darling Basin in Australia to demonstrate how innovative policy design can improve social, economic and environmental outcomes. Ultimately, it helps show how hybrid institutional arrangements, which integrate market design within formal legislative frameworks, are able to deliver more efficient and effective outcomes.
    Original languageEnglish
    Title of host publicationHybrid Public Policy Innovations: Contemporary Policy Beyond Ideology
    Editors Mark Fabian and Robert Breunig
    Place of PublicationLondon
    Edition1st edition
    ISBN (Print)9780815371809
    Publication statusPublished - 2018


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