2015, №3

Institutional theory of economic growth: basic imperatives

20.09.201518 октября, 2023Без комментариев


The possibilities of institutional theory to establish the modern theory of economic growth, including factors of institutional changes and technologies, which in themselves are a set of rules with high coercive force to the action of agents that form a particular mode / model adaptation, together with other institutions. It is proposed to use the neoclassical model of economic growth, which may include institutional factors and to study their impact on the growth and change of the factors themselves, but also shows how the micro-level analysis of the interaction of agents and institutions in the process of the emergence of new technologies, technical solutions, provides accounting technological factors on the macroeconomic level, thus ensuring the project microfoundations by R. Luсas in macroeconomics. In this connection, a so-called institutional macroeconomics as a scientific discipline closely related to the behavioral macroeconomics allows to investigate economic growth from the perspective of changing institutions, labor markets and information — technical and technological change.

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Oleg S. Sukharev — Dr. Sci. (Econ.), Professor, Institute of Economics of the Russian Academy of Sciences, Head of Institutional Analysis of Economic Dynamics  (Moscow, Russian Federation; e-mail: o_sukharev@list.ru).