The Institutional Environment for Economic Modernization
The theoretical and methodological foundations of economic and non-economic institutionalization interactions were considered and on this basis the ways and means of economic modernization of the country were justified. On the basis of the institutional methodology an analysis of institutional and transformational change in the process of economic modernization was carried out and its institutional factors were justified. An institutional analysis of economic, political, and economic and social interactions was conducted, as well as the role of institutional modernization in the economic modernization of the country was justified. The institutional criteria results of economic modernization were defined: the level of transaction costs in the economy as a general description of the quality of the institutional environment; the quality of government and legislation as an effective guarantor to those social forces that are not interested in the economic modernization of the country; the ability to import and implement the global market economy institutions, to acquire organizational and technical expertise to create efficient allocation of property rights; new motivation of human action in terms of a culture of post-material values. It was concluded that the institutionalization of economic and non-economic interactions forms the direction of the economic modernization process.