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Abstract
This article presents a reflection on the contribution potential of the New Institutional Economy to approach the study of educational systems and their performance. In addition to analyzing the theoretical elements of this approach applied to the educational system and reviewing recent empirical contributions from the literature; The specific problem in Colombia is analyzed to arrive at a study proposal that involves these theoretical elements supported by more realistic assumptions. The use of neoclassical logic to explain performance and limitations from agency theory is questioned, opening the way to the governance approach as an alternative study according to the nature of the organization and management processes of educational systems, especially in the public sector. It concludes in favor of the potential of the institutions and the contractual approach to approach the study of educational systems, despite the possible measurement problems that may be faced. Thus, the various forms of organization of education in the public sector and their hierarchical nature and the analysis of transaction costs take on importance beyond the orthodox analysis of production costs.References
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