Changes in institutional systems during Covid-19 pandemic from the institutional conception of O. E. Williamson

Abstract

PURPOSE: This work explains the theoretical background of these various changes among various countries. This article aims to demonstrate the heuristic capacity of the institutional analysis of O.E. Williamson in deductively explaining differences in institutional solutions introduced as part of activities aimed at counteracting the adverse effects of the COVID-19 pandemic in different countries.

DESIGN/METHODOLOGY/APPROACH: The article is primarily based on deductive-nomological considerations. In addition, the analysis of selected literature and the case study method was used to show how the government imposed various institutional changes in society and the economy of selected countries.

FINDINGS: The research results indicate that the issue of the pandemic and the actions taken to combat the crisis it triggered, as well as the attitude towards social distancing, varied even though the COVID-19 pandemic had similar effects in different countries. Interestingly, the same approach to the pandemic and the adopted institutional solutions were presented differently by politicians and public media during pandemia COVID-19.

PRACTICAL IMPLICATIONS: Research shows different sources of varying institutional changes that can be analyzed and explained from the point of view of O.E. Williamson’s concept.

ORIGINALITY/VALUE: The research shows that topics important for the functioning of the state, such as the rapidly deteriorating condition of public finances or the entry of the economy into recession, were not the main reason for introducing varying institutional solutions.