Institutional Economics At The Crossroads: A View From Russia

Bagrat Yerznkyan

Montenegrin Journal of Economics, 2012, vol. 8, issue 1, 27-45

Abstract: On the base of the brief outlook of history of the origin and development of institutional economics, the main theoretical-methodological changes with details applied to the current stage of development, supplemented by the events taking place in the field of evolutionary economics, are discussed. More precisely, the purpose of the article is to identify new phenomena and trends occurring in modern institutional (evolutionary) economics during recent decades with special emphasis on the Russian experience. Add to this that the line between the new phenomena observed in this field and possible trends of development is shaky, because not all events at the crossroads can get the trends, and moreover, we cannot exclude the possibility of trends that by subjective or objective reasons have not been identified and/or foreseen before. The article also presents some considerations on the formation of an institutional policy in Russia.

Date: 2012
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