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A shift in the prevailing institutional models of the global order:is a new cycle starting?

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Abstract

This paper discusses some theoretical-methodological bases for comparative institutional analysis. First, it shows the specific approach of the Marxian school to analyzing social and economic institutions. Second, it discusses the most general features of the system paradigm in economic theory (Kornai, 1998 [2002]). Third, it presents institutional matrices theory, or IMT (Кирдина, 2001; Kirdina, 2001, 2010, etc.), which develops a Marxian approach together with systemic ideas. This section describes two basic institutional models, so-called X- and Y-institutional matrices. Fourth, it demonstrates that the economic dominance of Y-matrix countries (like the USA and European countries) since the 1970s has gradually decreased and that since 2008 the global GDP share of X-matrix countries (like Russia and China, e.g.) has prevailed and continues to grow.

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  • Kirdina, Svetlana, 2012. "A shift in the prevailing institutional models of the global order:is a new cycle starting?," MPRA Paper 42999, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:42999
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    File URL: https://mpra.ub.uni-muenchen.de/42999/1/MPRA_paper_42999.pdf
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    References listed on IDEAS

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    1. J. Kornai., 2002. "The System Paradigm," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 4.
    2. Kirdina, Svetlana, 2010. "Prospects of liberalization for S&T policies in Russia: institutional analysis," MPRA Paper 23270, University Library of Munich, Germany.
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    Cited by:

    1. Gregory Sandstrom, 2012. "Instead Of Capitalism Vs. Socialism: A Proportion-Seeking Review Of Two Contemporary Approaches In China And Russia," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(4), pages 43-60.

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    More about this item

    Keywords

    institutions; economic systems; Marxian approach; institutional matrices;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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