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Towards a new Macroeconomics: contribution of the institutionalism

Towards a new Macroeconomics: contribution of the institutionalism

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 6-20

The paper is devoted to a new approach to macroeconomics, which is based on institutional economics. The author generalizes the experience of teaching macroeconomics in Russian universities, reveals its strengths and weaknesses. The main drawback in the author’s opinion is the abstract analysis of macroeconomic relationships divorced from solving real economic problems. The ways of adapting the synthesis of macroeconomics and institutionalism for solving relevant problems of the national economy are outlined.

Views: 1122

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Three main approaches to the problem of income distribution equivalence in the modern market economy: comparative analysis

Three main approaches to the problem of income distribution equivalence in the modern market economy: comparative analysis

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 21-41

The purpose of the paper is a comparative analysis of Marxian, Neoclassical and Institutional approaches to the problem of equivalence of income distribution in modern market economy, and description of their advantages and shortcomings, and determination of perspectives of institutional approach for further analysis.
There were revealed two groups of interpretation of equivalence: based on the cost and based on the productivity. For the purpose of development of the last approach there was created an econometric model for Russian economy, founded on the Cobb-Douglas function, coefficients of which in their comparison with factual distribution proportions enables to asses the level of nonequivalence. There was investigated a correspondence between equivalence and equality in income distribution. The Kuznets curve for Russian economy was developed, and the multiple regression between GDP based on purchasing- power-parity per capita and Index of quality of institutions and Gini coefficient was offered and tested for 134 countries.
The author proves that main advantage of Marxist approach consists in admission of nonequivalence itself, whereas its shortcomings are denial of productivity of other factors apart from labor, miss of their historical transformation and phenomenon of factor’s income diffusion. Advantage of neoclassical approach consists in possible quantitative assessment of factors contribution, and shortcomings of it are: appearance of essential residual in such models, and notion that equilibrium to be an attainment of objective function of one factor under limitations set by others, and equalization of equilibrium, equivalence and fairness, and spreading of exchange transactions through all the sphere of distribution. There were established main directions of analysis of income distribution by using institutional methodology: division of different types of transactions within sphere of distribution, determination of social and ethic institutions influence, and influence of property rights specification, their «great transformation» in corporations on performance of this sphere. Specific institutions of creation and appropriation of organizational rent were revealed.

Views: 1183

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Development of institution of capital income taxation taking into account the tax neutrality concepts

Development of institution of capital income taxation taking into account the tax neutrality concepts

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 42-54

The paper deals with investors’ economic behavior in the context of achieving of tax neutrality. The comparative analysis of neutrality types is made. The two types of tax neutrality in the process of economic agents’ activity regulation are examined: the tax neutrality itself and the neutrality, achieving by levying taxes. The approach to effective capital income taxation, based on maximum approximation in presence of institutional factor (“world without taxes”) to optimal capital allocation by applying principles of tax neutrality in open economy is submitted. The recommendations concerning sequent reforming of Ukrainian tax system, the final stage of which is to statement of dual income tax system, providing the flat tax rate for all capital income and progressive tax rate for individual income, are provided.

Views: 1070

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Effective contract in higher education of the Russian Federation: theoretical approaches and features of institutional design

Effective contract in higher education of the Russian Federation: theoretical approaches and features of institutional design

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 55-80

Institutional reforms of higher professional education, as well as of the entire social sphere, became the priorities of the new political cycle. During 2012, a number of regulations which define the direction and mechanisms of these institutional changes, were adopted, including the transition to the principles of effective contract. The paper presents the results of the institutional analysis of regulations for the transition to efficient contract in the field of higher professional education. The characteristic of the academic contract and its implementation model is given and two concepts of effective contract in universities offered by liberal expert community and ruling bureaucracy are considered. The authors conducted a comparative analysis of these two projects, showed reasons for the failure of the institutional project offered by liberal expert community and the consequences of the Russian government project implementation to the Russian higher education.

Views: 1163

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Neo-institutional research tools of the modern cooperative theory and practice

Neo-institutional research tools of the modern cooperative theory and practice

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 81-91

A comparative analysis of the application results of neoclassical orthodoxy and neoinstitutional theories methodological tools to cooperative problematic research is carried out in the paper. Methodological limitations of the neoclassical approach and an explanatory-predictive efficiency and neo-institutionalism prospects in the cooperative forms investigation and the development of the modern economic cooperation theory are revealed.

Views: 1546

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Peculiarities of implementing of the corporate social responsibility concept in the national economy of Ukraine

Peculiarities of implementing of the corporate social responsibility concept in the national economy of Ukraine

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 92-107

The social responsibility doctrine has not yet received its final recognition as an attempt to harmonize the intentions and the results of capitalism. And the thing is that free-market supporters still believe that the business mostly serves society only when seeking to achieve self-interest. Proponents of corporate social responsibility does not negate the effectiveness of the profit maximization motive, but also believe that interests of business and society are interconnected in the long-run (those firms will succeed that subordinate the motive to public goals).
The process of implementing the concept of social responsibility in Ukraine have significant peculiarities associated with the Soviet past and with the inversion nature of forming market relationships in the modern economy.
The purpose of the paper is to determine the specifics of forming corporate social responsibility in the national economy of Ukraine.
Research objectives: 1) to determine the motives of businesses’ socially responsible behaviour under current conditions; 2) to analyze the existing boundaries of corporate social responsibility and their evolution in the practice of the Ukrainian business; 3) to identify the peculiarities of the social responsibility principles in the business culture of Ukraine.

Views: 1148

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Formation of the institute for small entrepreneurship support in Ukraine: problems and prospects

Formation of the institute for small entrepreneurship support in Ukraine: problems and prospects

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 108-123

The author shows that the institute for support of small business, which had been formed in Ukraine, including regulatory impact analysis (RIA) is not effective and has all the signs of «institutional traps». As a result, it does not have a positive effect on the development of small entrepreneurship in Ukraine and its level continues to steadily decline. Thus, the system of state regulation and support of entrepreneurship needs to be radically reformed in order to move to a new, higher level of a modern management system.

Views: 1246

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The institutional complexity of corporate social responsibility (nature, institutions, mechanism)

The institutional complexity of corporate social responsibility (nature, institutions, mechanism)

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 124-144

Social responsibility of business is considered as an institutional form of the compelled adaptation of corporations to growing requirements of civil society and regulators (protective reaction), as marketing technology of strengthening of a brand image (response) and as a way of expansion of norms and practics on contractors and partners in global supply chains (return reaction). The system of institutions of the social- responsible company is detailed (corporate charity, patronage, sponsorship, social marketing, social investment and partnership, corporate citizenship and volunteering). Positive effects, contradictions and the mechanism of social orientation of corporate sector are proved.

Views: 1202

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The features of evolution and modern condition of the institutional environment of Belarus economy in the X-matrix concept context

The features of evolution and modern condition of the institutional environment of Belarus economy in the X-matrix concept context

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 145-156

The institutional matrix concept has been further developed. The current state of the institutional environment of Belarus has been analyzed. The authors arrived at the conclusion of the need to improve the obsolete form of the basic institutions of the X- matrix with the relevant sections of the Y-matrix basic institutions.

Views: 1092

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Program course "The economic theory of law"

Program course "The economic theory of law"

Journal of Institutional studies, , Vol. 5 (no. 1),
p. 157-176

Views: 1063

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