«An institutional analysis of financial supervision and macroeconomic stability»

the Effectiveness of institutional changes directly depends on the correctness of determining their causes, on the accuracy of the choice of the type of institutional changes, the experience of institutional changes and their consequences demonstrates the need for a systematic quantitative assessment of the effectiveness of institutional changes.

In our opinion, the insufficient effectiveness of a number of institutional changes in the Russian economy in 1990 – 2000 was due, among other things, to the lack, insufficient intensity or formality of such communications.

Consider some significant institutional changes in the us economy and their actual effectiveness (table 1).

In our opinion, one of the main reasons for the negative consequences of these institutional changes was the lack of a comprehensive assessment of their likely effectiveness for sectoral markets and the national economy. Thus, the experience of institutional changes in the United States in 1970 and the end of 1990 and their consequences demonstrates the need for a systematic quantitative assessment of the effectiveness of institutional changes, including in the framework of various scenarios of the external economic environment.

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