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TERRA ECONOMICUS

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  • 2018
  • No 4
  • Institutional design and theory of reforms in russian economic discourse

INSTITUTIONAL DESIGN AND THEORY OF REFORMS IN RUSSIAN ECONOMIC DISCOURSE

TERRA ECONOMICUS, , Vol. 16 (no. 4),

The article presents the results of the analysis of publications of Russianspeaking researchers devoted to the institutional design issues. Steady and widely used in the work of English-speaking economists, representatives of institutional and neoinstitutional directions, the concept, however, is used in Russian as a rule in political science research, but not at the economic area. However, the analysis has shown that in the Russian-speaking scientific space one can find a vast layer of works in which there are points of contact between institutional, neoinstitutional theory and the theory of reforms. They develop recommendatory concepts for the selection of correct reform strategies, the implementation of which will minimize risks in the conduct of institutional reforms and maximize the possible positive effects from the introduction of new institutions. Part of the research examines the negative consequences of choosing wrong strategies for implementing reforms. This becomes the basis for several concepts, such as «institutional traps», the concept of «misuse of institutions» and institutional dissonances. All three concepts describe similar phenomena, the reason of which is the discrepancy of the institutions that are borrowed, which are implanted in the established institutional environment, provokes an increase in social costs or results in inefficient equilibrium. In conclusion, the concepts of second-best institutions and institutional corridors are considered as theoretical grounds for minimizing the negative effects of institutional design.


Keywords: institutional design; institutions; theory of reform; meso level of economic analysis; institutional theory; civil culture

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606