THE OPPORTUNITIES OF MEASUREMENT OF INSTITUTIONS AND INSTITUTIONAL CHANGES IN MODERN ECONOMIC SCIENCE

The article provides an overview of various approaches and methods for measuring institutions and institutional changes. The measurement of institutions refers to the measurement of their effectiveness, quality, and performance by modeling, evaluating, and interpreting the institutional environment or individual institutions, taking into account the distribution of roles among economic actors, their goals, and possible collective and individual actions within these institutions. There are two main approaches to measuring institutions: direct and indirect. The indirect approach includes methods that measure institutions through the assessment of institutional effects, which are expressed in changes in micro – and macro-economic parameters, indicators, indicators, and equilibrium states. The methods of the indirect approach include indicative, based on macroeconomic proxy indicators; game-theoretic, which defines institutions as the results of game equilibria; and microeconomic, which tools are usually neoclassical models. Analysis of the capabilities of modeling and measuring institutions using these methods revealed certain disadvantages and difficulties in using indirect methods. It seems that the most interesting tool from the point of view of modeling can be the use of the contract method, in accordance with which direct modeling of microinstitutions – contracts takes place. The measurement of institutions using contract models requires further research, namely the development and inclusion in the models of certain institutional characteristics that can be interpreted as "direct" criteria for institutional measurements. The contract method in the future can create conditions for the development of models of institutional measurements of both qualitative and quantitative order.