The article dwells on the process of an institutional reform being of paramount importance under any reorganizations. It is underscored that the most important problem is a formation of a system of legislation and sound social space (as a principal social-economic goal of a state). The author of the article has conducted an analysis of laws and norms containing the notion of “institute” and given the latter`s assessment as a ground for a development of social-economic life of the country. He proposes recommendations in concordance with which institutional reforms must take into consideration local conditions and peculiarities, a threat of non-earmarked application of institutes inclusive.
reform, institute, transactional expenditures, social and group interests, social capital, informational asymmetry.
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