The Modern Russian Institutionalism: Further Discussion

Abstract

In the article the positive estimation of the paper on institutional methodology which was published in the 3rd issue of the journal in 2009 is given. In the discussion with A. Moskovsky the authors show that the term "institution" may have various definitions and argue in favour of the one proposed by D. North ("institutions as rules of the game"). The new institutional economic theory has a bigger potential for economic modeling than traditional institutionalism. The usefulness of "mathematical" institutionalism has been determined by the Russian researchers' elaborations of the institutional traps theory, institutional systems creation theory, knowledge economy theory and system-integrated theory of the firm.