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Institutional Efficiency and Processes of Institutional Changes (as Seen by the Russian Academic Tradition)

Author

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  • Kuzmin, Evgeny A.
  • Barbakov, Oleg M.

Abstract

Research in changes to the institutional environment has set a scientific problem of a balance between consequences from such changes and a need to sort out differences across imperfect standards and regulations. Approaches to solve the abovementioned issue are not the same. In a review of scientific papers, we present an original view of scientists, who are committed to the Russian academic tradition. To clarify this, the paper summarizes theories on the efficiency of economic agents and institutions. The paper also demonstrates ambiguity in approaches to a definition of efficiency conditions. It justifies factors of an increase or a decrease in transaction costs in a horizontal and vertical institutional expansion, as well as a change to the transformational function. In the course of the research, existing saturation and sparsity as features of the institutional environment are discussed.

Suggested Citation

  • Kuzmin, Evgeny A. & Barbakov, Oleg M., 2015. "Institutional Efficiency and Processes of Institutional Changes (as Seen by the Russian Academic Tradition)," MPRA Paper 62404, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:62404
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    File URL: https://mpra.ub.uni-muenchen.de/62404/1/MPRA_paper_62404.pdf
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    References listed on IDEAS

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    1. Kuzmin, E. A., 2012. "Uncertainty and certainty property estimation of organizational-economic system," MPRA Paper 39372, University Library of Munich, Germany.
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    Cited by:

    1. Kuzmin, Evgeny A. & Berdyugina, Oksana N. & Karkh, Dmitri A., 2015. "Conceptual Challenges of Observability for Transaction Sector in Economy," MPRA Paper 66168, University Library of Munich, Germany, revised Jun 2015.
    2. Georgi N. Todorov & Anna V. Kalinina & Anna I. Rybakova, 2018. "Impact of labour migration on entrepreneurship ecosystem: case of Eurasian Economic Union," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(4), pages 992-1007, June.
    3. Georgi N. Todorov & Anna V. Kalinina & Anna I. Rybakova, 2018. "Impact of labour migration on entrepreneurship ecosystem: case of Eurasian Economic Union," Post-Print hal-01859326, HAL.

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    More about this item

    Keywords

    economic agent efficiency; institutional efficiency; saturation and sparsity of the institutional environment; borders of economic agents; institutional changes;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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