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Cover Sukharev Oleg S. Theory of Economic Changes: Problems and Decisions
Id: 173425
 
29.9 EUR

Theory of Economic Changes: Problems and Decisions

URSS. 368 pp. (English). Paperback. ISBN 978-5-396-00535-8.

 Summary

The book develops the theory of institutional changes and presents a new direction of economic analysis: the institutional macroeconomics. The author develops the concept of economic dysfunction and applies it to the description of economic growth problems, offers a model of competition between agents within the "innovator-conservative" system, corrects the

doctrine of "creative destruction", offers a model of institutional change based on the effect of the chessboard, with the resulting conclusions from the change in criteria for public well-being that are not fair in terms of institutional change. In addition, the monograph develops a system of axioms for the theory of economic systems efficiency, and proposes a system to assess the economic efficiency of system dysfunction, using the methods of the theory of reliability. The author analyzes the problems of the evolution of technical and financial systems and economies, showing a gap

at the level of the fundamental principles of their joint development.


 Contents

Introduction
Chapter 1. Economic Growth and Changes: the basic imperatives
Chapter 2. Institutional theory of economic change: problem of disfunction institutes, systems and monetary range
 1.Introduction
 2.The concept of disfunction institute and economic systems
 3.Economic growth and economic policy
 4.Evolution features of "innovator-conservative" system in economic policy
 5.Economic growth and development of institutions
 6.Institution efficiency and relationship of old and new institutions: Quality assessment
Chapter 3. Trajectories of institutional change, transaction costs and time
 1.The Problem of Institutional Trajectories and Planning In Changing Economy
 2.Conditions of Institutional Development. Dependence on the Past (Path Dependence)
 3.Conditions of Institutional Development. Independence on the Past (Path Independence)
 4.Conditions of Institutional Development. Partial Dependence on the Past (Path Determinancy)
 5.Chreod Effect
 6.Heterogeneity Principle
 7.Hyperselection Effect
 8."Lock in" Effect
 9."Qwerty" Effect
 10.Time as a Resource and Transaction Costs
Chapter 4. The evolutionary theory of agents interaction
 1.The Evolutionary Model of "innovators-conservatives" systems (the development of the Schumpeterian theoretical model)
Chapter 5. Technology and technological change: an institutional view
Chapter 6. Correction of the doctrine of the "creative destruction"
Chapter 7. Institutional Change: impact on the welfare
Chapter 8. The Theory of Economy Efficiency: institutional and system paradigm
 1.X-efficiency and organizational efficiency
 2.Institutional efficiency of economic system
 3.Economic system efficiency. Analysis and measurement
Chapter 9. Institutes of social development and their efficiency estimation
 1.Social Efficiency Criteria
 2.Social Efficiency Estimation
 3.Efficiency of Education as a Social System
 4.Social Value of Innovative Activity
Chapter 10. The contracts theory, unfavorable selection and the efficiency problem of interacting agents
 1.Contracts and Competition. Incentives Formation of Economic Behaviour
 2.Unfavourable Selection. Secondary Markets and Efficiency Criteria
 3.A Problem of "Lawyer" and "Legal" Efficiency
 4.Contracts and Institutional Changes
 5.Conclusion
Chapter 11. Elementary mathematical model of crises, growth and emerging new combinations
Chapter 12. Macroeconomics, institutional change and the global crisis
 1.Is macroeconomics powerless? How can evolutionary economics explaining the financial economic crises?
 2.Lessons of 2008--2010 World Financial Crisis for Macroeconomics
 3."Behavioural" Macroeconomics
 4.Financial and Monetary Policy in "New" Macroeconomics
Chapter 13. Structure of Economy: financial and technical systems (analysis of the evolutionary theory)
 1.Interaction problems of economy financial and technical systems
 2.Basic distinctions principles in financial and technical systems evolution of economy
Chapter 14. The theorem of optimum structure of economic sector development
Chapter 15. Monetary rule of innovative economy (can Russian experience be used in Europe?)
 1.A discretionary monetary policy or monetary rule
 2.Monetary policy and inflation
 3.Organizational-legal conditions of the central bank institute functioning
 4.Russia's and world economy's processes
 5.Conclusion
Bibliography

 Introduction

This book is an attempt to bring out the guidelines of economic changes theory, having highlighted the basic problems and prospects of the theory development. The problem is both difficult, and ambitious, and it does not promise prompt solutions in every aspect. However, for its solution I have selected the following scheme of actions: studying the fundamental reasons of institutional inefficiency, the problems of economic growth and institutions quality, the description of machinery and technologies development mechanism, the research of institutional changes and institutional movement trajectories, provision of a new approach to efficiency estimation of economy functioning at organization's various levels, including the problems of contracting and legal efficiency, and on this basis explanation of transmission mechanism of economic policy.

There are four basic reasons of economic changes: 1) quantitative and qualitative change of the population; 2) change of accumulated knowledge and technological experience; 3) change of basic and subsidiary institutions ("rules infrastructure"); 4) change of the reaction models (agents' intentionality) and the models of influence on the economic system (political decisions and management). Many economists are of the same opinion. In particular, Douglass Cecil North enumerates the similar reasons in his book "Understanding the Process of Economic Changes". One of my tasks was to make North's vague conclusions and loose definitions more or less theoretical, having suggested or improved the method for studying economic changes within the frameworks of institutional and evolutionary analysis.

I would like to mention "International Scientific Researches" journal and its editor-in-chief S.V.Gorin for publication of my articles in English which are the basis of this book, and for the permission to use this material in the book; economic journal of Montenegro where 3 articles, the ideas of which have been reflected here, were published. I would like to express my special gratitude to Alla Vladimirovna Nikitina, the Director of Russian Publishing House "Kurs" ("Course") "Infra-M", the longstanding editor of my works Nataliya Fedorovna Karpycheva, and my constant translator Galina Gennadjevna Lepeshkina. This book would have never been published in English without their participation and selfless labor. I am fully responsible for the scientific part of the book and G.G.Lepeshkina bears responsibility for its translation.


I hope, our work was not vain.
Moscow, January, 2013
Yours faithfully,
Prof. Oleg Sukharev

 About author

Sukharev, Oleg S.

Dr, Professor, Senior Fellow at the Center of Evolutionary Theory and Economic Development Institute of Economics Russian Academy of Science, University Professor of Finance of the Russian Government, the author of more than 20 books and more than 300 paper on institutional economics, macroeconomics policy, innovation theory of the firm and industry, the theory of economic growth and institutional change. The author of the concept of dysfunction of institutions and economic systems, has developed a method for measuring dysfunctional states and evaluate the effectiveness of the system of economic organization, has proposed a model neoshumpeterian competition such as "innovator-conservative" with the correction of the findings for economic policy.


 About the author

Oleg S. Sukharev

(www.osukharev.com)

Professor, Head of Sector of Institutional Analysis of Economic Dynamics at the Center of Evolutionary Theory and Economic Development of the Institute of Economics of the Russian Academy of Science. Author of more than 20 books and more than 300 papers on institutional economics, macroeconomics policy, innovation theory of companies and industry, theory of economic growth and institutional change. Oleg S. Sukharev is the author of the concept of dysfunction of institutions and economic systems, has developed a method for measuring dysfunctional states and evaluating the effectiveness of the system of economic organization, and proposed a model of neo-Shumpeterian competition “innovator–conservative” with correction of the findings for economic policy.


 
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