Structural and Institutional Factors of Economic Growth

In: Mirovaja ėkonomika i meždunarodnye otnošenija: MĖMO, Heft 3, S. 73-81

Abstract

The article shows that nowadays, while analyzing the factors influencing the dynamics of particular countries' economies and the world economy at large, the economic theorists more often emphasize not traditional structural factors, but institutional growth drivers. Among them, the author singles out and specifically considers the nature and scale of government's intervention in the economy, the level of social and political stability, the maturity of market institutions, the state of infrastructure, and the organizational structure of business.