transformation economy - a fundamental change in the major economic institutions and the formation of the new economy.The duration of the transitional period, as a rule, depends on the length of how quickly create private capital as a factor of production.The key institution of the modern market economy is a firm.In the domestic economy, the firm as a special institution is still at the stage of its formation and development.Formation of the company during the transition period is not always possible to analyze from the standpoint of the neoclassical theory, since its categorical and methodological framework is not enough to adequately analyze and explain economic phenomena in the dynamics.This necessitates the use of an institutional approach, which takes into account the human factor of production, and how entrepreneurial ability, as a factor of production, can be effectively realized in a form of its organization, as a company.
process of economic reform leading to that corporation becomes the dominant form of economic and legal business activities.However, the possibility of privatized enterprises may be quite limited.Therefore, for their adaptation and demand of private capital as a factor of production.The unresolved practical problems necessitates a theoretical study of the influence of institutional factors on the process of formation of the company in a transitional economy.During the transition period, the transformation of the state enterprise into a company, formed by private capital as a factor of production and development.In the course of reforming the disappearing old formal institutions - the party and economic hierarchy, centralized planning and pricing, "national property."The economy of the state of transformation on a large scale "resets" itself with the execution of non-core business functions to it.
The absence of market traditions, institutions and mechanisms for holding back economic growth.Today, economists note that a central place in modern social and economic processes of transformation should be allocated to the transformation of the institutional structure and on how quickly and adequately formed private capital.As a factor of production, it plays a decisive role in the structuring of the new economy.The process of forming institutions can be evolutionary or revolutionary means.Evolutionary option involves the emergence of new formal institutions in the transformation process already existed.In the second case refers to the import of institutions have proved their effective impact on the activities of economic entities.
However, the formation of the institutional environment in the transformational economy is mainly through the "import of institutions" developed and successfully proven, market economy.Known areas of import of institutions based on a theoretical model, on samples of standards previously existed in the history of the country, following the example of existing in other countries.
Import institutions of firms in developed countries has both positive and negative sides.Negative aspect import of institutions is their non-optimality for a given institutional environment.Institutions that are acceptable in some countries, can be completely unsuitable and unsustainable for other countries, and especially the economies, but that began to change the institutional structure where the incentive system is still focused on the old administrative system, and the interest of economic entities in their performance remains weakor insufficient for the formation of a new institutional structure.
word, import of institutions has contradictory effects.On the one hand, it promotes a more rapid reform of the institutional environment of the company.On the other hand, the transfer of institutions causes an increase in instability and conflict in the socio-economic development of the company.
