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Transformation of institutions in the new economy

Author

Listed:
  • Bulina, A.

    (Department of Economic Theory and Economic Policy, Faculty of Economics, St. Petersburg State University)

Abstract

Crucial role of institutions in the economy as means reducing uncertainty and transaction costs was analyzed by economists for a long time, but as the economy itself the institutions do not remain fixed in a single state. Processes that change the economy, particularly globalization and rapid development of information technology, have strong impact on society and its major institutions; from the market to private companies and even families. The new economy requires new institutions or new forms of old ones, to analysis of wich this paper is devoted.

Suggested Citation

  • Bulina, A., 2013. "Transformation of institutions in the new economy," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 3, November.
    • Handle: RePEc:mmb:journl:articl_v3_10_13
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    File URL: http://www.marketing-mba.ru/article/v3_13/bulina.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

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    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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