EFFECTIVE DEVELOPMENT INSTITUTIONS

Abstract

Development institutions are the most important tool for stimulating innovation processes and infrastructure development. These organizations finance long-term investment projects that contribute to the socio-economic development of the industry, region or country. Such specificity of activity leads to significant difficulties in the assessment of their efficiency. At the same time, the development of a system for assessment of the development institutions’ efficiency, improving the efficiency of their work and ensuring positive economic growth rates in regions and states, are impossible without studying the approaches to the assessment of their efficiency. A growing interest in the activities of multilateral development institutions is taking place in today’s literature on public administration. However, there are currently no review articles that would consider the scope of work devoted to the assessment of the development institutions’ efficiency. The review examines modern research publications that assess the results of individual development institutions and their contribution to socio-economic development and some issues of economic efficiency. The article analyzes various approaches and methods for assessment of the development institutions’ efficiency. The study will allow us to assess the potential for use of modern approaches and identify areas for further application of the used methods. The materials of the review can be used as a general theoretical part for teaching the disciplines of "public administration" related to the assessment of the public administration efficiency.