INSTITUTIONAL ENVIRONMENT OF LOCAL MARKETS DEVELOPMENT
Development of local markets acting as a fundamental element of economic system is analyzed. The turnover of the basic branches on local markets of the Republic of Mary El is considered the basis for the analysis. Various versions of institutional model construction in the Russian economy are submitted. Typical functions of regulation for federal and municipal bodies at the local market level are characterized. A structural - logic model of the local market taking into account the factors of institutional environment is offered as a result of studies.