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Meso-Level of Economy: Theoretical Approaches and Math Modeling

Meso-Level of Economy: Theoretical Approaches and Math Modeling

Journal of Institutional Studies, , Vol. 11 (no. 1),

In the paper we will present a retrospective analysis of the development of the mesoeconomic idea from the first mention of the term in research literature (Wittfogel, 1962) to research papers now being published. Three main trends of meso level understanding in modern English language heterodox economic literature can be identified: the Neo-Schumpeterian Interpretation, the Evolutionary Approach and Neo-Institutionalism. The paper will consider all three trends with a consistent approach, showing the interrelations, similarities, and differences between them. The analysis shows the main difference between the English-speaking and Russian-speaking traditions of mesoeconomic research. For the English-language work a typical feature is reflection on the need to overcome methodological individualism in economic research, to better understand the emerging processes and the institutionalization of the rules of interaction between economic individuals. The consideration by Russian or, more precisely, post-Soviet economists of mesoeconomic topics has been conditioned by the historical realities of transition from the Soviet planned economy to the market economy of post-Soviet Russia. We will also consider the mathematical models developed by Russian scientists as applied to mesoeconomic research. There are four main groups. The first group of models is based on Econophysics ideas. The second group develops agent-based models. The third group is based on the Optimal Multisectoral Interregional Models. The fourth group considers economic systems differentiated by the age of fixed capital. This fourth group includes math models based on the theory of the shifting mode of economic reproduction.


Keywords: mesolevel of economic analysis; heterodox economics; economic orthodoxy; institutional mesoeconomics

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