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Theory of Crises after Crisis: Technologies versus Institutions

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  • D. Frolov

Abstract

The article is devoted to the methodological contradictions of modern theories of crises and economic development. The critical analysis is carried out and the inconsistency of technological conceptions of global crisis is revealed. The key role of institutions in progress of technologies is proved. The necessity of synthesis of technological and institutional paradigms for the evolutionary economic theory is given reason. The author discusses positive features of the increase in transaction costs in a phase of post-crisis restoration of economy.

Suggested Citation

  • D. Frolov, 2011. "Theory of Crises after Crisis: Technologies versus Institutions," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 7.
    • Handle: RePEc:nos:voprec:y:2011:id:1170
    DOI: 10.32609/0042-8736-2011-7-17-33
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