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Institutional Theory Of Economic Reforms: Basic Imperatives

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  • Oleg Sergeevich SUKHAREV

    (Institute of Economy, the Russian Academy of Sciences Moscow, Russia)

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.

Suggested Citation

  • Oleg Sergeevich SUKHAREV, 2015. "Institutional Theory Of Economic Reforms: Basic Imperatives," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 4(2), pages 1-1, july.
    • Handle: RePEc:scm:ecofrm:v:4:y:2015:i:2:p:1
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    File URL: http://ecoforumjournal.ro/index.php/eco/article/download/167/106
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    References listed on IDEAS

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    1. David E. M. Sappington & Joseph E. Stiglitz, 1987. "Privatization, information and incentives," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 6(4), pages 567-585.
    2. Oleg Sukharev, 2011. "Elementary Model Of Institutional Change And Economic Welfare," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 7(2), pages 55-64.
    3. Oleg Sukharev, 2012. "The Neoinstitutional Contracts Theory: New Perspectives," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 87-118.
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