“Institutional capital” as a factor of sustainable development ‐ the importance of an institutional equilibrium
提出新制度经济学应关注“制度资本”对可持续发展的作用，并讨论制度均衡（非正式制度支持正式制度）如何影响可持续发展。
Abstract The main aim of this article is to provide a basis for changing the focus in New Institutional Economics (NIE) from the economic effects of institutions to the importance of “institutional capital” for sustainable development. First, a theoretical model of NIE is presented in the context of sustainable development. Then, the concept of an institutional equilibrium (where informal institutions support and strengthen formal institutions) is discussed as an important determinant of “institutional capital” stimulating or hampering sustainable development.