The debate about the concept of Path Dependence and its reconciliation with a dynamic model of institutional analysis

Abstract

This work is divided in two parts. The first section identifies the
current debate about the notion of Path Dependence in academic literature
and demonstrates its potential limitations and definitional possibilities.
The second section looks to reconcile various ideas in order to form a dynamic
model of institutional analysis based on an integral vision of Path
Dependence. Creating a dynamic model of Path Dependence requires giving
a specific role to each side of the debate within a comprehensive, analytical
framework. Integrating the various concepts of the debate into one dynamic
model allows the central node of institutional development analysis to rely
on the observation of the micro-causal relationships between one or more
time sequences. These relationships have the potential to reinforce or destroy
themselves. In other words, the dynamic of institutional openings and
closings determines the cycle of continuity and change.