INFLUENCE OF ECONOMIC INTERESTS AND INSTITUTIONAL STRUCTURES ON ECONOMIC DEVELOPMENT
The article’s aim is to detect tendencies of how economic interests and institutional structures influence an economic development in their interaction. Rent-oriented interests and the influential groups’ conduct lead to a monopoly situation on the markets of some key resources, the analysis shows. The fact doesn’t let one combine these resources with any other. The current institutional structure is not able to create conditions for high-yielding activity in the cause of which some social groups can become the leaders in economic development. Historical approach of the research shows that previous periods’ experience in institutional systems functioning and the mistakes made in economic policy are not well taken into account in the organization of the institutional structures. It is founded that the policy of economic interests and institutional systems interaction are favorable to the economic and social development in a long-term period. It happens when it aims at getting conditions of producing and exchange and when it depends on the respective social groups.