Essence of the Concept of «Institution» in the Agricultural Sphere
Journal Title: Бізнес Інформ - Year 2015, Vol 1, Issue 0
Abstract
The article is aimed to analyze the integrated vision of the concept of «institution». This, in turn, requires disclosure of the content of the «institution» term in the context of an integrated understanding of this notion's essence with regard to the agricultural sphere. The author has presented different explanations of the term «institution» as well as generally accepted approaches to the interpretation of efficiency of institutions. Contents of the term «institution» in the agricultural sphere has been disclosed. It has been determined that institutional analysis of the economy provides for studies in the general social and societal context, when institutions are integrated, interdependent and cause a dominant influence on society. Thus, the institutional paradigm in the economic science forms a research program, in which economy has to be determined by the type of society and presence of the historically sustainable institutional mechanisms to ensure the functioning of economy and society as a whole. Hence the scientific goals of economic analysis, in the first place, must empirically identify, then describe the relevant institutional factors and further determine the prospects for their development.
Authors and Affiliations
Yuliya Gerasymenko
Keywords
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