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A cyclical model of institutional change

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Abstract:

PurposePrevious research on institutional change has largely ignored its cyclical nature. This paper aims to introduce a four-phase cyclical model of long-term institutional change. Design/methodology/approachThe recurrent patterns of the model have been identified from previous technological revolutions and their accompanying surges of development. The model also incorporates generational theory as a driver of institutional change. FindingsThe model predicts that a multi-year institutional crisis is currently underway that has important implications for practitioners. The paper also describes proposed solutions to the current crisis. Originality/valueThe model developed synthesizes disparate institutional theories to build a new explanation for long-term economic development.

Keywords: Economic development; Innovation; Organizational change

Document Type: Research Article

DOI: http://dx.doi.org/10.1108/14636680910963909

Publication date: May 29, 2009

mcb/273/2009/00000011/00000003/art00001
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