scholarly journals Development of institutional bases of leasing

Vestnik MGSU ◽  
2016 ◽  
pp. 146-158
Author(s):  
Natal’ya Yur’evna Yas’kova ◽  
Tat’yana Romanovna Alekseeva
Keyword(s):  
Structural Changes ◽  
Informal Institutions ◽  
Institutional Changes ◽  
Opportunistic Behavior ◽  
Economic Interests ◽  
Economic Relations ◽  
Institutional Approach ◽  
Formal And Informal Institutions ◽  
Institutional System ◽  
Informal Rules

Institutional approach to the research of leasing in modern conditions is considered in the article. Formal and informal institutions of the leasing relations are investigated. Ratios of public and subjective expenses and benefits in institutional system of leasing are shown. Features of interaction of agents of the leasing relations, their interests and tendency to manifestation of opportunistic behavior are investigated. The typology of mechanisms of implementation of institutional changes is considered. The need of structural changes of the institutes of leasing relations is proved. It is offered to introduce “institution of engineering” in the structure of institutions of leasing relations. It will allow providing harmonization of the interests of the agents of leasing relations, decreasing their opportunistic behavior, and reducing the transactional expenses of the participants of leasing. It will promote prevention of their opportunistic behavior and reduction of transaction expenses of the participants of leasing. In our opinion, “the institution of leasing” is a set of formal and informal rules, norms and mechanisms of enforcement of their performance (institutes of property, financial rent (leasing), crediting, insurance and other institutes of leasing relations), which govern the property and economic relations, the arising relations with acquisition of ownership and its subsequent assignment for use for a certain time with payment. These norms and rules are necessary for ensuring stability and definiteness in the relations between the participants of leasing, and also for protection of their rights and economic interests.

scholarly journals PROCESSES OF LOCALIZATION AND INSTITUTIONALIZATION OF LOCAL MANAGERS IN ECONOMIC FUNCTIONS IN DANISH OWNED SUBSIDIARIES IN ESTONIA, LATVIA AND LITHUANIA AROUND THE 21ST CENTURY

2008 ◽  
Vol 9 (4) ◽  
pp. 279-287 ◽  
Author(s):  
Jeanette Thomsen
Keyword(s):  
Longitudinal Study ◽  
Transition Economies ◽  
21St Century ◽  
Informal Institutions ◽  
Primary Data ◽  
Institutional Changes ◽  
Specific Context ◽  
Formal And Informal Institutions ◽  
Changes Over Time ◽  
Over Time

This study identifies interplay between the localization processes and formal as well as informal institutions in a specific context. Particularly the changes over time in institutions and localization processes are in focus. A longitudinal study of institutional changes in local management has been conducted from 1997 to 2002 among local CEOs, chief accountants and production managers in a Danish SME, using mainly qualitative methods. Data have been compared to primary data from similar companies in Estonia, Latvia and Lithuania. The study has resulted in establishing a model for comparing interplay between localization processes in SMEs and the formal and informal institutions in different transition and post‐transition economies.

scholarly journals Role of formal and informal institutions in the civil society development

2020 ◽  
Vol 2 ◽  
pp. 7-18
Author(s):  
Sergey Zyryanov ◽  
◽  
Anatoly Lukin ◽  
Keyword(s):  
Civil Society ◽  
Rule Of Law ◽  
Informal Institutions ◽  
The Political ◽  
The Rule Of Law ◽  
Social Sphere ◽  
Institutional Approach ◽  
Formal And Informal Institutions ◽  
Ways Of Thinking

Today, scientific discussions on the specifics of the development of civil society in Russia do not stop. The institutional approach allows us to look at this problem through the prism of formal and informal institutions existing in society. Researchers and practitioners should not focus only on the rule of law, official prescriptions and orders, setting the framework for interactions between authorities and citizens, promoting private initiatives, and realizing the rights and freedoms of the population. If they do not correspond to the prevailing norms, stereotypes, ways of thinking and actions for centuries, then the most useful, at first glance, innovations in the political and social sphere may not take root. This does not mean, however, that informal institutions remain unchanged under any circumstances. They also evolve. This process can be targeted. It is important to understand all the actors involved in the development of civil society in our country.

scholarly journals Infrastructure Support for the Development of Small Businesses

2019 ◽  
Vol 8 (3) ◽  
pp. 6430-6433
Keyword(s):  
Sustainable Development ◽  
Small Businesses ◽  
Institutional Environment ◽  
Informal Institutions ◽  
Economic Mechanism ◽  
Institutional Approach ◽  
Institutional Infrastructure ◽  
Formal And Informal Institutions ◽  
Institutional Actors ◽  
The Impact

For the purpose of sustainable development of small businesses, it is necessary to pay special attention to the formation of infrastructure for small businesses. This study uses an institutional approach which involves assessing the impact of formal and informal institutions on the development of small businesses. The author introduces the concept of the “frontier” institution as an institution, the operation of which is governed by the prescriptions of laws and established regulations, but the performance of certain functions is based on informal rules. This allows such an institution to more effectively perform the functions of a formal institution and makes it more capable and competitive in the market in a specific period of time. Furthermore, the study identifies the concepts of the institutional environment and institutional infrastructure. The author defines the institutional environment as a set of rules of conduct and institutional infrastructure as a set of institutions that form the rules of conduct and have an impact on small businesses. The impact is understood as the formation by institutional actors of rules of conduct that have incentive and disincentive effects on small businesses. This makes it possible to identify the causes of positive or negative deviations in the development of small businesses and to develop solutions aimed at solving the problems encountered. The article studies the organizational and economic mechanism that reflects the functioning of formal and informal institutions through which institutional infrastructure influences small businesses in order to achieve their goals.

scholarly journals An Introduction to Institutional Coordination as An Alternate Model for Neo-Institutional Economic Analysis

2021 ◽  
pp. 151-197
Author(s):  
Rubén Méndez Reátegui
Keyword(s):  
Social Order ◽  
Institutional Economics ◽  
Essential Element ◽  
Informal Institutions ◽  
Institutional Interaction ◽  
Positive Interaction ◽  
Marginal Rate ◽  
The Real ◽  
Formal And Informal Institutions ◽  
Informal Rules

In this paper, through the formulation of an alternate conceptual model, the author links the concepts of functional entrepreneurship and institutions, understood as a set of categories —formal and informal rules— showing a complex, dynamic and interactive character. Furthermore, the aim of this paper is to introduce an exploration of the concept of institutional coordination or positive institutional interaction as an essential element for neo institutional economics analysis. This aim proposes the hypothesis that institutional coordination or positive interaction among formal and informal institutions is the real key element for a theoretically consistent and com-prehensive analysis, evaluation and testing of institutions. Moreover, the paper is attached to the «meta» concept of society, represented as a process of dynamic collaboration among individuals. This assumption seeks to suggest an improved theoretical standard through the insertion of concepts taken from classical legal theory such as «desuetude» and «contra legem custom». This theoretical standard leads the author to introduce a set of contributions to the contemporary heterodox economics literature: a. Negative institutio-nal interaction is a process where overlapping and displacement between formal and informal rules cannot be leaved outside the model; b. A discussion in terms of institutional marginal rate of technical substitution becomes im-portant for deciding the best possible combination of formal and informal institutions; c. An exploration of the determinants for institutional elasticity, as the author assumes, that determinants of institutional elasticity mainly co-rrespond to the ease with which a «formal institution» can be replaced by an «informal institution» and vice versa; d. The use of the brain reward system and the Neuroscience approach introduced as a tool to improve the analysis of institutional coordination. Together the significance of these contributions brings a secondary hypothesis: traditional neo institutional analysis is weak, in the sense that, it avoids dealing with the real role and relevancy of in-formal institutions shouldering the prevalence of the formal institutional frame-work to reach institutional predictability and a sustainable social order. There-fore, the author claims that the traditional analysis is mistaken as it indirectly supports a separation and confrontation between contributions emerging from the legal abstract theory of the sources of law (Ghersi, 2007) and eco-nomic analysis. Key words: Functional Entrepreneurship, Formal and Informal Rules, Institutional Coordination, Positive Institutional Interaction, Institutional Elasticity, Sources of Law. JEL Classification: B52, K00, Z13. Resumen: En este trabajo, mediante la formulación de un modelo conceptual, el autor vincula los conceptos de empresarialidad funcional e instituciones apuntando a presentar una exploración del concepto de coordinación institu - cional o interacción institucional positiva como elemento esencial para el análisis económico. El objetivo es introducir la hipótesis de que la coordina-ción institucional entre las instituciones formales e informales es el elemento clave a dilucidar con miras a completar la elaboración de una teoría de las instituciones más consistente. Esta dilucidación se expresa a través de las siguientes contribuciones: a) La interacción institucional negativa es un pro-ceso en el que los desplazamientos y sobre posiciones entre reglas formales e informales no pueden ser dejadas fuera del modelo; b) Una discusión de la relevancia y características de la tasa marginal de sustitución técnica en el ámbito de lo institucional —relevante sobre todo al momento de estimar la mejor combinación posible de las instituciones formales e informales—; c) Una exploración de los determinantes de la elasticidad institucional —que se corresponderían con la facilidad con la que una «institución formal» puede ser sustituida por una «institución informal» y viceversa—; d) El uso del enfoque de Neurociencias y del sistema de recompensa del cerebro, los cuales son presentados como una herramienta para mejorar el análisis de la coordi-nación institucional. Palabras clave: Empresarialidad Funcional, Reglas Formales e Informales, Coordinación Institucional, Interacción Institucional Positiva, Elasticidad Insti - tucional, Fuentes del Derecho. Clasificación JEL: B52, K00, Z13.

scholarly journals INSTITUTIONAL PLATFORMS OF THE TRANSFORMATION OF THE ECONOMY

2019 ◽  
Vol 5 (2) ◽  
pp. 226
Author(s):  
Anatoliy Tkach ◽  
Viktoriia Kolomiiets ◽  
Maryna Radieva
Keyword(s):  
Human Capital ◽  
Codes Of Conduct ◽  
Theoretical Research ◽  
Scientific Article ◽  
Institutional Changes ◽  
Corporate Sector ◽  
Economic Relations ◽  
National Differences ◽  
Institutional System ◽  
New Institutions

Institutional transformations in economies of countries are considered as the basis of their civilizational development. The concept was put forward that in order to ensure transformations in the economy, it is necessary to promote the formation of a specific set of institutional platforms – new institutes and institutions that will create an environment for the formation and development of a socially oriented market economic system of society. The main controversial components of the institutional platform include: institutional changes in the economy, the creation of the corporate sector, the development of human capital institutions. The purpose of the paper. The purpose of the study is to promote and reveal the essence of the formation of institutional platforms to ensure reforms of various components of a transformational economy. Methodology. Formation of institutional platforms of the transformational economy is investigated on the basis of the theory of institutional changes and such institutions of a market economy as property rights, the corporate sector, and human capital. Results. Institutional platforms of transformations are presented as continuous informal changes that are fixed in the formal institutional system of society in the form of legal acts, codes of conduct, and institutions designed to enforce them. It is substantiated that in order to ensure institutional transformations in the economy, it is necessary to form a dynamic institutional platform that determines the system of basic institutions. The process of formation and effective use of the institute of human capital is analysed, which becomes a priority for the economic development of the country’s potential. The presence of mature human capital predetermines the country’s economic potential and its strategic growth. The main content of the new economy is that human capital turns from a resource to the essence of development itself. An approach to developing an institutional platform for the development of human capital as a process of natural accumulation or the forced introduction of basic institutions capable of ensuring the emergence of new institutions or significantly modernizing existing rules is proposed. It is proved that transnational capital erases economic, political, and cultural national differences, forms a favourable global infrastructure, ensures the development of countries that define the basis of the world corporate economy. It is substantiated that, institutionally, a corporation creates a new type of economic relations, which are reflected in the rules and code of corporate behaviour. Institutional analysis created the conditions for developing a new approach to designing the trajectory of the development of the national economy on the grounds that the formation of a certain institutional system determines the trajectory of the further development of the state and world economy. Practical implications. Theoretical research should be the foundation of state policy in the management of the process of creating formal institutions as the basis of an institutional platform. This requires certain clarifications regarding the possible gap between the rules declared by the legislation and the mechanism for ensuring their observance, the basis for further research. Value/originality. The theoretical study is carried out personally by the authors of this scientific article.

scholarly journals Institutional System of Human Development and Institutional Environment: Relationship Features

2019 ◽  
Vol 67 ◽  
pp. 06049
Author(s):  
Olena Stryzhak
Keyword(s):  
Sustainable Development ◽  
Correlation Analysis ◽  
Human Development ◽  
Institutional Environment ◽  
Informal Institutions ◽  
Multilevel System ◽  
Formal And Informal Institutions ◽  
Institutional System ◽  
The Relationship

The article considers the features of human development in the context of the concept of sustainable development. The need to study the institutional system of human development as regulated multilevel system of interconnected formal and informal institutions is justified. The relationship between the level of human development and the quality of the institutional environment is determined using the methods of correlation analysis. Analyse covers 214 countries and territories for 2017. The results of the correlation analysis show that there is a strong direct interconnection between HDI and WGI. The correlation ranges from significant to very strong one. This gives grounds for conclusion that there is influence of the quality of institutional environment on the level of human development.

Informal Institutions and Women’s Political Representation in Chile (1990–2015)

2018 ◽  
Author(s):  
Susan Franceschet
Keyword(s):  
Political Representation ◽  
Informal Institutions ◽  
Women's Ministry ◽  
Gender Parity ◽  
Formal And Informal Institutions ◽  
Electoral Reforms ◽  
National Congress ◽  
Gender Quota ◽  
Female President ◽  
Elected Office

Despite electing a female president, Michelle Bachelet, and at one point achieving gender parity in cabinet appointments, women’s presence in Chile’s national congress remains small, is only slightly higher at local levels, and is extremely limited among party and coalition leaders. In her gendered analysis of representation, Susan Franceschet argues this is because of the strong formal and informal institutions that limit the size of electoral districts, require large thresholds to win seats, and require coalition negotiation over candidates for elected office. Even though women have a mixed record of representation, their presence has had important policy consequences. A gender-focused presidency has been critical for passage of gender-attentive policies. Women in Chile’s legislative arenas have been more likely to bring gender issues to the agenda. Franceschet points out that Sernam, the women’s ministry, has played a critically important role in this. The electoral reforms approved by congress in 2015 include a gender quota, creating expectations that improvements will continue.

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