A shift in the prevailing institutional models of the global order:is a new cycle starting?

Kirdina, Svetlana (2012): A shift in the prevailing institutional models of the global order:is a new cycle starting? Published in: V Forum of Leading Economists from China and Russia, October 24, 2012. (October 2012): pp. 118-127.

Abstract

This paper discusses some theoretical-methodological bases for comparative institutional analysis. First, it shows the specific approach of the Marxian school to analyzing social and economic institutions. Second, it discusses the most general features of the system paradigm in economic theory (Kornai, 1998 [2002]). Third, it presents institutional matrices theory, or IMT (Кирдина, 2001; Kirdina, 2001, 2010, etc.), which develops a Marxian approach together with systemic ideas. This section describes two basic institutional models, so-called X- and Y-institutional matrices. Fourth, it demonstrates that the economic dominance of Y-matrix countries (like the USA and European countries) since the 1970s has gradually decreased and that since 2008 the global GDP share of X-matrix countries (like Russia and China, e.g.) has prevailed and continues to grow.

• Item Type: MPRA Paper
• Language: English
• Keywords: institutions; economic systems; Marxian approach; institutional matrices
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B20 - General; P - Economic Systems > P5 - Comparative Economic Systems > P50 - General

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