Economy Models within Institutional Matrices Theory Framework
The article highlights the results of the theoretical modeling of the economy within the institutional matrices theory framework. The methodology is also based on the marginal costs theory, substantive approach of Karl Polanyi, the idea of social mechanism of economic development worked out by T. I. Zaslavskaya, «the razdatok-economy theory» of О. Е. Bessonova and H. Leiben-stein's X-efficiency theory. The economy is modeled as evolutionary developing structure of interacted market and redistributive institutions. If branches with diminishing marginal returns prevail in the economy, the market institutions are the main, whereas the redistributive institutions are the additional. On the contrary, if the increasing marginal returns branches dominate, the re-distributive economic institutions play a framework role, while the market institutions serve as complimentary or additional ones.