Складові теорії прав власності та їхня реалізація у вітчизняній економіці
The institute of property rights is a key factor in the institutional environment and economic growth. After all, a clear definition of property rights is directly correlated with the level of long-term well-being of individuals and the economic (social) consequences of their decisions. Without proper registration and protection of property rights the resources available can not become capital. In developed countries, private property as the basis of economic growth is seen as the norm, because it is ubiquitous and is protected by law. In the post-Soviet countries the historical consequences of the liquidation and the lack of private property have been quite palpable for a long time. Typically, these results are expressed in a disproportionately high level of shadow economy, when so many economic entities have assets that are not officially recognized, and therefore, those which are not protected by law. This situation is recognized as the one where ownership of assets is blurred. Among the basic premises of the current state of affairs with the vagueness of property rights in the domestic economy let us focus our attention on these: the procedure and the results of privatization; inadequate judicial and legal infrastructure; corrupt relations between the state and criminal organizations; the lack of trust among the majority of citizens in state institutes; legislative, executive and judiciary authorities; double, and sometimes triple (for myself, for the tax police and for the "cover-up") accounting of business entities; withholding information on the real property by businesses; excessive administrative barriers opposing the effective functioning of the business. The above factors lead to excessive risk and transaction costs in the economy. In general, the optimal system of property rights can be divided into four structural elements: 1. Procedures to ensure that the specification of property rights the registration of ownership of assets. 2. Mechanisms of property rights enforcement an effective legal and judicial system. 3. Technology of corporate assets specification, ensuring property rights of shareholders. 4. Mechanisms that minimize the risk of property redistribution. The optimal system of property rights creates an economic order in which: information about the assets and resources market becomes more accessible, the contracts -''transparent''; operational and transaction costs decrease significantly, motivation to rent-seeking behavior is reduced. Thus, for reliable operation of the system of property rights protection, it is necessary to have the rules and technologies that primarily determine the legality of the assets and the possibility of clinching a formal contract, namely: objective inventories of land, property and liabilities related to property; information on the market value of the similar assets; effectively operating mortgage system, clearly defined terms of loans, procedure for recovery of debts and bankruptcy, and that will be definitely observed by the state institutions; mechanisms that ensure the development of the assets secondary market. Thus, the creation of an effective and fair system of property rights, ensuring its reliable protection acts as a fundamental condition to economic development and the operation of market institutes.