Institutional Properties of the South East European Region
This paper will identify and analyze the basic institutional characteristics of the region of South East Europe (SEE6), because the building of institutions is one of the main conditions for sustainable development. Basic theoretical and practical barriers, that crucially influenced the current un...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Russian Academy of Sciences, Institute of Economics of the Ural Branch
2015-09-01
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| Series: | Экономика региона |
| Subjects: | |
| Online Access: | http://www.economyofregion.com/archive/2015/56/2648/pdf/ |
| Summary: | This paper will identify and analyze the basic institutional characteristics of the region of South East
Europe (SEE6), because the building of institutions is one of the main conditions for sustainable development.
Basic theoretical and practical barriers, that crucially influenced the current unfavorable transitional
institutional characteristics in SEE6, will be researched in a selective way. The aim of this paper is to demonstrate
the essential institutional differences of this region in comparison with developed countries, particularly
in terms of real institutional change, the application of institutional pluralism and the main institutional
barriers. The paper starts from the hypothesis that ignoring the institutional pluralism and domination
of alternative institutions in SEE6 led to dysfunctionality of institutional change, which had a negative
impact on all indicators of economic development in the surveyed countries. The emphasis is on the factors of
monistic anti-institutional action, from which the alternative institutions stand out for their destructive significance.
It points to devastating and anti-developmental consequences of their actions, and their theoretical
support of neoliberal type, which is in practice vulgarized and converted into a quasi-neoliberalism. It
identifies the real and concrete causes of reproduced institutional vacuum. The findings from the study suggest
that countries of the SEE6 region should apply civilization-proven development models of institutional
pluralism type. This indicates the importance of taking real institutional changes and urgent overcoming the
quasi-institutional forms in order to successfully valorize the economic resources in the countries of SEE6. |
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| ISSN: | 2072-6414 2411-1406 |