Аuthor: A. Zavazhenko, PhD student, Faculty of Economics, ORCID ID: 0000-0002-3345-1671
Taras Shevchenko National University of Kyiv, Kyiv, Ukraine

Annotation: The article describes conceptual approaches, which are the basis of the state policy of overcoming the institutional dysfunctions of modern economic systems. The article’s topic is a relevant theoretical problem within the framework of research into the new institutional theory, as it substantiates practical ways of counteracting the negative impact of inefficient institutions on the process of developing economic systems. In the research process, the author applied the methods of interdisciplinary, comparative and statistical analysis, as well as a systematic approach together with the use of tabular and graphic data visualization methods.

The author analyses the main features of the destructive impact of institutional dysfunctions on modern economic systems, the theoretical basis of the implementation of institutional choice by individuals between two alternatives. The practical experience of institutional reforming in various countries in the context of the implementation of state policy to overcome inefficient institutions is described, and the effectiveness of these measures is indicated based on additional analysis of statistical data from recent years. According to the results of the study, scientific and practical recommendations for overcoming institutional dysfunctions of national economies as an essential component of the strategy of national economies’ institutional reforming. The process of overcoming institutional dysfunctions by the economic system requires the active involvement of the authority, which not only monitors compliance with the ‘game rules’ established in society but also actively changes them based on its long-termed strategic goals. The author also warns that the described measures should not be carried out as an exception but purposefully in the form of implementing a long-term strategy with reforming all areas of social life.

Keywords: modern economic systems; institutional environment; institutional changes; institutional dysfunctions; inefficient institutions.

Received: 05/09/2022
1st Revision: 13/09/2022
Accepted: 26/09/2022

References (in Latin): Translation / Transliteration/ Transcription

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