Institutional aspects of post-industrialization: Theoretical analysis and practical implications
<b>Subject </b>The article considers institutional processes generated by post-industrialization, which is the most important trend in the modern social and economic development and relates to enhanced role of service industries in employment, GDP volume and industrial sector operations. <br></br> <b>Objectives</b> The study aims to perform a systems analysis of institutional (including transactional) content and effects of post-industrialization, to systematize the implications of applied nature to the development of transactional industries. <br></br> <b>Methods</b> The study draws on theoretical and methodological concepts of institutional, evolutionary, systems and comparative analysis. <br></br> <b>Results</b> The paper presents a complex analysis of institutional aspects of post-industrialization, which is specific to all leading countries of the world. The analysis is based on real indices of the service sector development. I classify the instances of servicization of industrial and agrarian sectors that are connected to extension of the service sector and development of hybrid production; underpin the need to avoid the interpretation of post-industrialization in a negative aspect and to perceive it as something homogeneous, as this trend appears asymmetrically and asynchronously in different branches and spheres of economy. <br></br> <b>Conclusions </b>The paper proves an important role of transactional services and service-producing industries in the post-industrial economy, shows the leading role of stakeholders in the course of post-industrialization that is related to mass production of customized goods and services, formulates prospects for transactional industries' growth under post-industrialization in the sphere of public administration, sustainable development of territorial entities, and expansion of innovative knowledge-intensive business services of transactional type.