Institutional Aspects of the Theory for the Economic Transition

Traitcho Spasov

Economic Thought journal, 2002, issue 2, 3-21

Abstract: Studied is the specific character of the economic transition in the countries from Central and Eastern Europe (CEE) in the context of intensively running processes of globalization and localization. Underlined is that the deep fundamental economic change can be made by a number of system changes, connected with certain combination of institutions. They are one of the most important factors, which determine the contents and structure of the economic interrelations between people, of the parameters and mechanisms of the economic order in the national economy. On this basis is drawn the conclusion that the economic change cannot run without an adequate institutional change. If in the running of the economic transition are created even temporary limitations and difficulties in making of the institutional change, this will effect on the mechanisms, intensity and effectiveness of the economic transition. In this plan it is noticed that from the effectiveness of the institutions and of the institutional transformation are determined the speed, succession and effectiveness of the economic transition in its whole.

JEL-codes: A10 O11 P11 (search for similar items in EconPapers)
Date: 2002
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