The nature and structure of the modern institutionalism
Abstract
In the article the essence and the content of modern institutionalism are analyzed. Modern institutionalism is represented by two main schools – institutionalism of classical school (new institutionalism) and institutionalism of neoclassical school (neoinstitutionalism). The methodology and the theoretical content of modern neoinstitutionalism are based on the traditions of neoclassical economics, but modern neoinstitutionalism manages to overcome a lot of restrictions of neoclassical economics and allows to explore economics subject to informal practices, national traditions, customs and culture.
References
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