Institutional factors of socio-economic systems development
Journal: Economics Bulletin of The National Mining University (Vol.52, No. 52)Publication Date: 2015-10-26
Authors : Pylypenko G. M.; Lytvynenko N. I.;
Page : 26-36
Keywords : development of the economic system; the institutional environment; norms; freedom; trust; tolerance; rent-seeking behavior; legal behavior; the Human Development Index;
Abstract
The results of empirical studies of the relationship between the elements of the institutional environment and the degree of their influence on the socio-economic systems development are presented. ?Freedom?, ?trust?, ?tolerance?, ?rent-seeking and legal behavior? are selected as the basic elements of the institutional environment; quantitative measurements of their performance are developed. The results of communication correlation analysis by Pearson’s and Spearman’s criteria for indicators of the institutional environment welfare are shown.
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