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The aim of the paper is to explain and analyse the process of institutional change. The terms ‘institution’ and ‘organisation’ are often used interchangeably in the economic literature. This does not seem entirely correct, especially in research regarding institutional transformations. The author of this paper clearly distinguishes between the concepts of ‘institution’ and ‘organisation’, trying to demonstrate how the interaction of these two 'organisms' influences institutional change. For this purpose, numerous studies in the field of new institutional economics are used. The discussion revolves around the idea of bilateral influence of organisations and institutions. Organisations are shaped and conditioned by the institutional environment in which they operate but, on the other hand, they frequently have an impact on institutional changes.
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