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"...

Corporate governance tends to understand the relations between the partners of the firm, in particular the manager and the shareholders. With the financialisation of economies, the nature of economic relations has strongly evolved. Under the influence of the contractual theories, shareholding...

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...

Like many other economists Schumpeter notes the advent of ?big business? by the end of the 19th century and the beginning of the 20th century. This transformation threatens both the existing institutions and the main source of evolution: the couple innovation ? entrepreneur. Since it favours the...

The entrepreneur is traditionally considered, in the economic analysis, as the core of continuous innovative process which characterizes modern economies. Often positioned as an alternative of the standard economic theory, this framework was mainly elaborated by the evolutionist and Austrian...

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...