2013 № 4

Economic dynamics in the long run: the role of informal institutions


This article suggests some based on the culture’s concept hypotheses that may structure the evolving theory of informal institutions. Mainly, the hypothesis about hierarchy of informal institutions, hypothesis about competitive advantages, caused by informal institutions and hypothesis about the link between informal institutions and major economic transformation. Based on the empirical facts the article highlights the importance of culture and social capital and suggests how to gain from them on micro and macro level.

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Alexander A. Auzan – Dr. Sci. (Econ.), Professor, Dean of the Faculty of Economics, Lomonosov Moscow State University  (Moscow, Russian Federation;  e-mail: auzan@inp.ru).

Elena N. Nikishina – Director, Institute of National Projects for Scientific and Methodological Activities (Moscow,  Russian Federation;   e-mail: elena.nickishina@gmail.com).