Abstract. Attention is paid to the important role of an effective system of institutions to ensure the economic development of Ukraine. It is noted that the formation of this system should be given the attention of scientists, as well as government agencies. The content of economic transformation of postsocialist countries, in particular Ukraine, is studied. The study was conducted using the methodology of comparing the capitalist and socialist systems, as well as the historical approach. The content of categories «property» and «transformation» is considered, as well as the influence of property institutions on the dynamics of transformation processes that took place in postsocialist countries.
The interrelation and interdependence between the influence of institutions and the dynamics of the process of postsocialist transformation are determined. Results of the study showed a low level of development of formal institutions in Ukraine, while informal institutions act as a natural brake on further economic development. It is emphasized that the influence of institutions on the dynamics of postsocialist transformation processes is essential and crucial in Ukraine.
Based on the institution of ownership, the effects of ownership are considered. Western countries are able to generate capital and maximize the benefits of using property due to their full use. Unlike Western countries, in Ukraine property is considered on the basis of the object, and not through a system of rights that can be used by the owner. The nature of legal and illegal property relations, as well as the preconditions for the transformation of property institutions, are considered in detail.
The influence of formal and informal institutions on the dynamics of postsocialist transformation processes in Ukraine is determined. The emergence of intangible property by example of intellectual property, as well as the importance of compliance and implementation of property rights by the legislative system are considered. Conclusions are made about the current situation of the socio-economic system of Ukraine in the context of the transformation of formal and informal institutions.
Keywords: institute, property, transformation, capital, entrepreneurship.
JEL Classification P31
Formulas: 0; fig.: 0; tabl.: 1; bibl.: 15.