University / Organisation : Lomonosov Moscow State University

Paper or project ? project

Title : Institutional arrangements dynamic in case of external shocks

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Abstract : "Recent global economic shocks have reshaped interfirm relations and supply chains, including Russia’s sanctioned economy to develop new industries, with mixed and often unstable adaptation outcomes. This motivates my research to extend Transaction Cost Economics with dynamic models. I explore two key problems: (1) 'observing nothingness'—analyzing voids where supply chains/firms are absent, especially in developing/transitional economies. Using case study I want to reveal why agents initiate contract negotiations before any tangible investment occurs, why sometimes agreements fail to materialize and how institutional (not just technological) barriers hinder innovation. (2) Dynamic institutional adaptation to shocks: hybrid mode of governance proves vulnerable to negotiation cost shocks, becoming unsustainable under uncertainty, reducing investment specificity. To advance TCE, I introduce 'framing institutions' (inspired by Ostrom) regulating how other institutions can be changed, shaping contractual/organizational resilience. Analyzing these at contractual, organizational, and constitutional levels offers a novel lens for institutional dynamics."