INSTITUTIONAL DEVELOPMENT OF THE ECONOMIC SYSTEM IN THE CONTEXT OF CLUSTERING

Background. The development of an economic system based on institutional changes is subject of an active scientific debate. Most of the national scientists are unanimous in the need for institutional development of the economy, hence the reconfiguration of its components and the emergence of new forms of integrated business. At the same time, scientific interest in organizational processes is varied in nature and considers the integration of cluster fragmentarily. Consequently, there is a need for guidelines recommendations for reconfiguration of the national economic system and institutional component of economic behavior in the process of clustering. The study aims to research the theoretical foundations of the institutional development of the economic system within the cluster integration in order to develop recommendations on the formation of the institutional component of the economic behavior of entities in the process of clustering. Results. The author emphasizes the need for institutional changes in the economic system by cluster integration on the principles of self-organization, resource autonomy and economic behavior modification taking into account challenges of the exogenous environment. The author's vision of institutional components of the economic behavior of the economic system entities was offered. Conclusion. In terms of failure of traditional regulatory mechanisms to influence the development of the national economic system, the institutional restructuring of economic relations on the basis of cluster integration, which means organizational reconfiguration of basic industries, is an option. It was determined that the course of cluster processes in Ukraine is within the modal approach without conscious transformation in the institutional principles and rules of economic behavior of economic systems entities. However, for successful implementation of institutional changes in the national economic system one should use an integrated model based on self-organization, resource autonomy and economic behavior modification taking into account challenges of exogenous environment.