SHS Web Conf.
Volume 86, 2020ICORE 2019 – The International Conference on Rural Development and Entrepreneurship
|Number of page(s)||14|
|Published online||20 November 2020|
Potential of New Institutional Economics for Rural Community Development
Department of Development Economics, Faculty of Economics, Univeritas Negeri Semarang, Indonesia
* Corresponding author: firstname.lastname@example.org
Rural economic inequality is a fundamental problem which makes it important to seek its causes and find its policy solutions immediately. The new institutional economic potential development policy is the right choice. The purpose of this article is to explain more broadly the importance of new institutional economic potential in developing rural communities. Especially, to explain various economic dimensions of new institutions in a comprehensive manner in determining the level of community development. This research method used structured survey that has been well-designed and measured for data collection, variable measurement, and data analysis. Quantitative and qualitative data are gathered by using integrated methods between various disciplines; economics-sociology and economics-geography. Further, to interpretation the data, we used economic and cultural concepts; informal economy, new institutional economics, gravitational economics and cultural anthropology. Then, the method of analysis is path analysis using recrusive form of correlation model with multiple path equation systems. The main research results show that the new institutional economic potential is a key factor in developing rural communities and reducing inequality. Besides, the new institutional economics will encourage economic growth and public welfare
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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