The aspects of institutions’ influence on economic growth and the priorities of their development are studied in the article. Two complementary analytical techniques are suggested. The first one, based on the discrete institutional alternatives method, is aimed at the "institutional design"...

The mechanism of euro functioning is analyzed in the article from the standpoint of limiting the autonomy of monetary authorities of the European monetary union members, which precludes them from manipulating national currency for the short sighted political interests and postponing painful...

The paper shows the role played by the concept of parallel money in understanding the evolution of the monetary circulation in Russia in the 19th and the beginning of the 20th century. As evidenced by historical investigations, the experience of parallel money circulation is both theoretically...

The article examines the scientific legacy of the Nobel Prize-winning economist James Buchanan (1919—2013). The focus is on the evolution of his views on constitutional political economy. The article shows the displacement of Buchanan’s preferences from the expansion of inclusiveness of...

This paper is the first attempt at quantitative and qualitative analysis of the Soviet literature on general equilibrium theory in 1960—1990s. We divide the papers into four subgroups: von Neumann—Gale class of models and equilibrium growth; Arrow—Debreu class of models; disequilibrium...

Public Choice is the merger between political science and economics. In the introductory sections of this survey it is investigated what we can expect from the logic of public choice. How far is it able to produce consistent results? Is public choice consistent with liberty? What can be done to...

The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of...

The paper studies through the lens of the economic theory of the firm the development of two managerial disciplines: supply chain management and relationship marketing. The author demonstrates which ideas have been borrowed by these disciplines from the economic theory of the firm, and in what...

The article analyzes the nature of the crises during the present stage of civilization development. According to the author, the three basic approaches of reacting to them — inertia, modernzation and anti-globalization — should be substituted with the one that could be called "a new...