Neo-Institutionalist Economics is a school of developmental thinking that purports to explain the history, existence, and functions of a wide range of institutions (whether government, the law, markets, the family, and so on) according to the assumptions of the neo-liberal

Neoliberalism

Neoliberalism is a market-driven approach to economic and social policy based on neoclassical theories of economics that emphasizes the efficiency of private enterprise, liberalized trade and relatively open markets, and therefore seeks to maximize the role of the private sector in determining the...

 economic theory

Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

. In that sense, neo-institutionalism

New institutionalism

New institutionalism or neoinstitutionalism is a theory that focuses on developing a sociological view of institutions--the way they interact and the way they affect society...

 represent a variant of the neo-liberal orthodoxy that is ascendant within governments, international development

International development

International development or global development is a concept that lacks a universally accepted definition, but it is most used in a holistic and multi-disciplinary context of human development — the development of greater quality of life for humans...

 agencies, policy think tank

Think tank

A think tank is an organization that conducts research and engages in advocacy in areas such as social policy, political strategy, economics, military, and technology issues. Most think tanks are non-profit organizations, which some countries such as the United States and Canada provide with tax...

s, and increasingly large section of the social science community.