The Priorities of the Institutional Reforms in Economic Modernization

Abstract

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" determination of the national consensus about the long-term development objectives. The second, based on the growth indicators correlation analysis, makes possible to find out the sequence of the institutional reforms in the mid-term period.