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A Philosophical Approach of the Modernization Process of Russian Economy and Economic Institutions

Author

Listed:
  • Alexandra Grigorievna POLYAKOVA

    (Industrial University of Tyumen, Financial University under the Government of the Russian Federation)

  • Julia Nikolaevna NESTERENKO

    (2 Moscow State Humanities and Economics University, Russian Federation)

  • Elena Albertovna SVERDLIKOVA

    (3 Lomonosov Moscow State University, Russian Federation)

Abstract

The article deals with the specific features of functioning and evolution mechanisms of institutional traps as objects of state intervention during the institutional reforms, thus deals with the following hypothesis: there exists a uniform country-specific pattern of institutional traps emergence during economic modernization. Without management of institutions it is not possible to provide realization of an optimal scenario of state development. The spread of positive institutional practices and successful experience of institutional reforms may be considered as a tool of social state development. However, there are situations when newly created institutions fail the task but instead of dying seek to implement old practices, transforming into institutional traps, i.e. stable self-sustainable norms dissonant with aims of social development. Institutional traps, entailing the experience of economic agents’ sustainable interaction, derive not only negative effects, but also are considered by the science to be sustainable samples for modelling in order to increase the efficiency of particular institutional interaction areas. The emergence of institutional traps in a certain field of activity has several associated effects: the existence of inefficient institutions can lead to a multiplicative effect and generate "institutions for their own sake", and also to form a supporting infrastructure. Thus, a specific servicing subsystem appears; imposing greater restrictions in an inefficient institution leads to a greater degree of strengthening the servicing subsystem, contributing to the expansion of the informal or shadow sectors. The present sophistication of economic activities causes modification of institutional traps and their management basics. This brings the authors to explore not only the essential aspects of institutional traps, but also the specifics of their transformation. It was discovered that the substantial role in eliminating those traps is prescribed to control mechanisms that appear to be the complex of instrumentally mediated stimulating or restrictive reactions (and diagnostics tools for them as well) to deviation of an institute from pre-assigned behaviour patterns.

Suggested Citation

  • Alexandra Grigorievna POLYAKOVA & Julia Nikolaevna NESTERENKO & Elena Albertovna SVERDLIKOVA, 2018. "A Philosophical Approach of the Modernization Process of Russian Economy and Economic Institutions," Postmodern Openings, Editura Lumen, Department of Economics, vol. 9(1), pages 109-128, March.
    • Handle: RePEc:lum:rev3rl:v:9:y:2018:i:1:p:109-128
    DOI: https://doi.org/10.18662/po/08
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    References listed on IDEAS

    as
    1. Luis Angeles, 2011. "Institutions, Property Rights, and Economic Development in Historical Perspective," Kyklos, Wiley Blackwell, vol. 64(2), pages 157-177, May.
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    5. Veselin Draskovic & Evgeny Popov & Kestutis K. Peleckis, 2017. "Modelling of Institutional Changes in Transition Countries - the Gap Between the Theory and Practice," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 13(1), pages 125-140.
    6. Polterovich, Victor, 2007. "Institutional Trap," MPRA Paper 20595, University Library of Munich, Germany.
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    Cited by:

    1. Alexandra Grigorievna Polyakova & Julia Nikolaevna Nesterenko Nesterenko & Elena Albertovna Sverdlikova Sverdlikova, 2019. "Meta-institutions as a Product of Institutional Dynamics and Institutional Reformation," Postmodern Openings, Editura Lumen, Department of Economics, vol. 10(2), pages 137-154, June.

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    More about this item

    Keywords

    Institutional theory; institutional reforms; institutional trap; state administration; development institutions;
    All these keywords.

    JEL classification:

    • A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate

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