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Institutional Properties of the South East European Region

Listed author(s):
  • Mimo Draskovic

    ()

    (University of Montenegro)

  • Niksa Grgurevic

    ()

    (University of Montenegro)

  • Milica Delibasic

    ()

    (International University of Travnik)

Registered author(s):

    This paper will identify and analyze the basic institutional characteristics of the region of South East Europe (SEE6), because the building of institutions is one of the main conditions for sustainable development. Basic theoretical and practical barriers, that crucially influenced the current unfavorable transitional institutional characteristics in SEE6, will be researched in a selective way. The aim of this paper is to demonstrate the essential institutional differences of this region in comparison with developed countries, particularly in terms of real institutional change, the application of institutional pluralism and the main institutional barriers. The paper starts from the hypothesis that ignoring the institutional pluralism and domination of alternative institutions in SEE6 led to dysfunctionality of institutional change, which had a negative impact on all indicators of economic development in the surveyed countries. The emphasis is on the factors of monistic anti-institutional action, from which the alternative institutions stand out for their destructive significance. It points to devastating and anti-developmental consequences of their actions, and their theoretical support of neoliberal type, which is in practice vulgarized and converted into a quasi-neoliberalism. It identifies the real and concrete causes of reproduced institutional vacuum. The findings from the study suggest that countries of the SEE6 region should apply civilization-proven development models of institutional pluralism type. This indicates the importance of taking real institutional changes and urgent overcoming the quasi-institutional forms in order to successfully valorize the economic resources in the countries of SEE6.

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    File URL: http://economyofregion.ru/Data/Issues/ER2015/September_2015/ERSeptember2015_17_24.pdf
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    Article provided by Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences in its journal Economy of Region.

    Volume (Year): 1 (2015)
    Issue (Month): 3 ()
    Pages: 17-24

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    Handle: RePEc:ura:ecregj:v:1:y:2015:i:3:p:17-24
    Contact details of provider: Web page: http://www.economyofregion.com

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    1. Veselin Draskovic & Mimo Draskovic, 2012. "Institutional Nihilism Of The Post-Socialist Transition," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(2), pages 191-206.
    2. Berkowitz, Daniel & Pistor, Katharina & Richard, Jean-Francois, 2003. "Economic development, legality, and the transplant effect," European Economic Review, Elsevier, vol. 47(1), pages 165-195, February.
    3. Polterovich, Victor, 2007. "Institutional Trap," MPRA Paper 20595, University Library of Munich, Germany.
    4. Denzau, Arthur T & North, Douglass C, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31.
    5. Marcouiller, Douglas & Young, Leslie, 1995. "The Black Hole of Graft: The Predatory State and the Informal Economy," American Economic Review, American Economic Association, vol. 85(3), pages 630-646, June.
    6. Kornai Janos, 1994. "Transformational Recession: The Main Causes," Journal of Comparative Economics, Elsevier, vol. 19(1), pages 39-63, August.
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