MODERN ECONOMY AND INSTITUTIONAL VACUUM IN THE THEORY OF ECONOMICS
The paper considers modern economy as an economy of change and studies the institutional vacuum that is emerging in the economic theory. The paper aims to reveal the content and features of a changing economy and identify the causes and the main manifestations of the institutional vacuum in economic theory. The results and findings of the study indicate that the comprehensive transformation of the economic systems is reflected in modern the modern theory of economics, it requires different theoretical and methodological approaches, new theories and concepts the absence of which results in institutional vacuum. The methodology of the work includes the scientific methods and principles characteristic of institutionalism. The study can be used for further research and serve as a basis for institutional design.