Year: 2021
Type: article
Abstract: This study covers the systematisation of modern theoretical opinions on the role of institutions in social development. The study considered the scientific approaches to key components of institutional theory. The authors highlighted the main features of the concept of institutions as a common phenomenon in the social, political, and economic spheres. The approach to the analysis of institutions from the standpoint of rational and sociological behavioural models was generalised. The study described and analysed various scientific interpretations of institutional theory on an interdisciplinary basis. The author identified provisions of these theoretical approaches, which seem relevant and are of greatest interest to scientists, politicians, and practitioners within the framework of institutional analysis. It was found that from the standpoint of development and implementation of national policy by authorities of different territorial levels, it is important to use the ideas of comparative institutionalism, namely concerning mutual conditionality and interdependence of institutions in different spheres of public life. The research on the implementation of various institutional forms for the improvement of development policy by countries was generalised, based on which the authors identified the importance of complementarity of dialectically interconnected institutions. In this context, the key functions of institutions that are critical for the development and implementation of national policy were described. The study analysed the introduction of such an approach to evaluating the effectiveness of institutions as “institutional distance”.
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7220420190