Analysis of Institutional Dynamics in the Economies in Transition

The paper analyzes the changes in the Russian institutional system in the framework of fundamental interdependence between institutional and economic development. It reviews a number of established international indicators of institutional development. These indicators are used to study the current trends in the development of Russian economic institutions. The authors compare the Russia’s situation with the tendencies in institutional development of the CIS, Eastern European and selected OECD countries. This paper also contains an original multifactor statistical model aimed to explain the fundamental crosscountry institutional differences with a limited set of economic, geographical, cultural and historic factors.