Open AccessINSTITUTIONS AND ECONOMIC MECHANISMS OF STABILITY AND DEVELOPMENT OF SOCIETY
Author(s) -
Vasуl LAHUTIN
Publication year - 2018
Publication title -
ekonomìka ukraïni
Language(s) - English
Resource type - Journals
eISSN - 2522-9478
pISSN - 2522-9303
DOI - 10.15407/economyukr.2018.09.013
Subject(s) - principle of legality , business , economic system , incentive , property rights , intellectual property , economics , industrial organization , law and economics , public economics , market economy , political science , law , microeconomics
Institutions, organizations, economic mechanisms and instruments of social stability and development and their comprehensive interconnection and complementarity are considered. It is shown that in Ukraine’s economy such a system operates in the presence of a wide range of restrictions and endogenous and exogenous risks. The importance of economic stability as an important and necessary resource for social development is emphasized. The institutions of stability include: the rule of law, security of property rights, legality and law and order, protection of consumer rights, support for freedom of contract, intellectual property rights and protection of labor rights. Institutions of development are, first of all, development of competition, stimulation of innovations and high technologies, encouragement of business to modernize and re-engineer and security of private investment. Analysis of institutions and analysis of mechanisms are combined. The central importance is attached to the content of the relevant economic mechanisms, the actors who bring these mechanisms into action and the motives (incentives) with which these actors are guided in their activities. The main features of the so-called “mechanism of simulation (illusion) of social development”, typical for many developing countries, are revealed. The theoretical and methodological platform for ensuring a high level of social stability and development priority in Ukraine is substantiated.