BUSINESS INFORM №5-2014

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Section: Economic Theory
UDC 330.362
Markovych I. B.
Study of the Economic Size of a State as a Characteristic of its Institutional Structure (p. 31 - 36)
The goal of the article lies in conduct of theoretical analysis of changes in relations of scientific and public circles to the strength of state influence upon socio-economic development of the state and conduct of relevant empirical studies of these problems. Analysing and systemising scientific works of many scientists, the article generalises a conceptual vision of significance of economic freedom as a pre-requisite of growth of the state well-being. The article conducts theoretical analysis of influence of the state as an institutional formation upon economic growth and balance of action of market mechanisms. The article conducts a decomposition analysis of influence of individual components of the Index of Economic Freedom upon GDP per capita indicator by data from 112 countries for the period 2000 – 2011. It shows that there is a regenerative connection between the size of the state and this indicator. The prospect of further studies in this direction is the search for efficient forms of interaction of state and market mechanisms of development of national economies.
Keywords: state, institutionalism, economic freedom
Fig.: 1. Tabl.: 2. Bibl.: 25.

Markovych Iryna B. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics and Finance, Ternopil Ivan Pului National Technical University (56 Ruska Str., Ternopil, 46001, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Markovych, Iryna B. (2014) “Study of the Economic Size of a State as a Characteristic of its Institutional Structure.” Business Inform 5:31–36.

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