The Impact of Interplay between Formal and Informal Institutional Arrangements on the Sustainable Development of Access Economy: A Comparative Study of CEECs
Purpose: The aim of this paper is to present the results of a comparative case study research concerning the impact of the interplay between formal and informal institutional arrangements on the sustainable development of access economy in the Central and Eastern European Countries (CEECs). Design/Methodology/Approach: The main subject of interest concerns two research areas based on institutional economics approach, the character of the relationship between formal and informal institutional arrangements, as well as whether the governance system of CEECs consist of regulations that may support sustainable development of access economy of CEECs using research methods such as an individual case study of internet platform active in the access economy of CEECs or comparative study of national institutional arrangements of CEECs connected with sustainable development of the access economy. Findings: The paper demonstrates crucial importance of interplay between formal and informal institutional arrangements to support sustainable development of CEECs access economy. Practical Implications: The results may be useful for national policy makers as they highlight the key importance of interplay between institutional arrangements for sustainable development of CEECs access economy. They may also contribute to a better design of national as well as common European policy for sustainable development of access economy. Originality/Value: The research is original because it focus not only on formal or informal institutions or institutional arrangements investigated separately but on interplay between these institutional arrangements and their impact on sustainable development of access economy. The adopted institutional perspective underlines that CEECs with weak informal institutional arrangements did not regulate the access economy what may influence their sustainable development later on.