Institutions matter: An introduction to the role of institutions in public policy

Julia Talbot-Jones*

*Corresponding author for this work

    Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review


    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
    Subtitle of host publicationContemporary Policy Beyond Ideology
    PublisherTaylor and Francis
    Number of pages11
    ISBN (Electronic)9781351245944
    ISBN (Print)9780815371809
    Publication statusPublished - 12 Mar 2018


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