INSTITUTIONAL THEORY OF ECONOMIC REFORMS: BASIC IMPERATIVES

Authors

  • Oleg Sergeevich SUKHAREV Russian Academy of Sciences, Moscow

Keywords:

institutions, dysfunction, economic reform, dysfunctions types of institutions and systems, kinds of reforms

Abstract

The ability of institutional economic theory to explain various kinds of economic reforms (changes) on the basis of theoretical ideas about the dysfunction of institutions and systems are investigated. A number of classifications of reforms and dysfunctions is introduced and kinds of institutional efficiency of economic systems are defined. Qualitative regularities of various reforms of the twentieth century in different countries are generalized. A number of criteria of effective institutional reforms, capable to lower the depth and the scale of dysfunctions of the functioning economic subsystems is formed. System approach to the analysis of economic systems reforming with underlining the importance of reform “management” factor which defines productivity of economic development is elaborated. Life cycle of institution and economic system in the process of its reforming is presented and correction of J. Hellmann’s model, describing the reforming logic of economy is made.

Author Biography

Oleg Sergeevich SUKHAREV, Russian Academy of Sciences, Moscow

Doctor of Economic Sciences, Professor, Head of Institutional Analysis of Economic Dynamics Department Institute of Economy 

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Published

20.07.2015

Issue

Vol. 4 No. 2 (2015)

Section

Business Economics, Sustainable Development, Public Administration and Law

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