IJIMT 2017 Vol.8(3): 184-187 ISSN: 2010-0248
doi: 10.18178/ijimt.2017.8.3.725

Measure Types of Institutions in Georgia and Transition Economies

T. Zhghenti
Abstract— The institutional structure and framework is important for every economy, especially for developing countries. The most popular distinction is formal and informal institutions. Also, an interesting question is who sanctions rule-breaking? Government or society? So, internal vs external institutions is present as a second dimension in the institutional structure. Considering both dimension of institutional structure (formal vs informal, internal vs external) we get four types of institutions. First goal of research is to measure a size for each institutional type in the Georgian economy. We can use different indicators, but most suitable for our research are Global Competitiveness indexes. Also, dynamics of institutional development is important to reach research aims. Second point of interest is interactions between institutions, which can be as complementary as conflicting. We can use statistical methods to evaluate interactions between different types of institutions. Different researches can be useful to determine which specific institutions leads the process of relationships formation between different types of institutions.

Index Terms— Formal institutions, informal institutions, internal institutions, external institutions, Georgian institutional development.

T. Zhghenti is with the Ivane Javakhishvili Tbilisi State University, Georgia (e-mail: tsotne32@gmail.com).

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Cite: T. Zhghenti, " Measure Types of Institutions in Georgia and Transition Economies," International Journal of Innovation, Management and Technology vol. 8, no. 3, pp. 184-187, 2017.

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