Institutions Designing - Theories and Interests

Andrey Shastitko

Journal of the New Economic Association, 2017, vol. 35, issue 3, 177-184

Abstract: The author discusses the significance of outcomes of economics achievements for social wellbeing growth from the perspective of institutions designing. There are many examples confirming the opportunity to use these theoretical results in applied issues of social and economic development. However, there are no guarantees that these results will be used for social wellbeing growth. The reason is not only complex interaction of interests groups sensitive to distributive aspects of probable changes, as well as competing research programs in economic science suggesting alternative ways of problems solutions. The reason is also of filters' imperfections within the system "economic science - policy" - syntactic, semantic and pragmatic. One of indicators of demand for economic studies' results is reflected in the designed institutional changes. In particular, it is reflected in regulatory impact assessment. The problem of inelasticity of internal supply of ideas related to syndrome of two discourses is also discussed.

Keywords: interests; designed institutions; economic science; two discourses (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2017
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