INSTITUTIONAL FACTORS OF SUSTAINABLE DEVELOPMENT OF BUSINESS SECTOR OF THE REGIONAL ECONOMICS

The article examines the dependence of the process of formation and development of the business sector on the actions of the institutions of the market system, their influence on the creation of a favorable institutional environment for regional business entities. Special attention is paid to the application of an institutional approach to the study of the interaction of business structures and market system institutions that contribute to solving the strategic problem of raising the standard of living of the population. Evaluation of their interaction is carried out using a methodology based on the information, officially published in statistics annuals, as well as the results of surveys of experts — specialists from institutes and entrepreneurs. The indexes of the importance of the institutions of a market economy are calculated, according to the degree of their influence on the functioning of entrepreneurial structures, and they are classified into contributing, slowing down and limiting the development of the entrepreneurial sector in the region. It was revealed that in the process of formation of the market system, the trend of increasing absolute value of transaction costs associated with the relationship of subjects of the business sector with the institutions of a market economy is increasing, especially after starting and doing business activity. In this regard determination of alternative time and means expenses, the expediency of introducing the term “transactional social costs”, as well as the method of its calculation, is justified. Logical scheme of collaboration of the subjects of entrepreneurial sector of the region with marketing institutions through real and transactional segments of economy, implementing, accordingly, manufacturing and serving functions is described. With the introduction of a unified system of tax administration and connection of the IT system to tax collection, there has been a significant reduction in personal interaction between the tax inspector and the taxpayer — the subjects of the business sector.

institution, institutional changes, institutional environment, entrepreneurial sector of a region, macroeconomic entity, entrepreneurial structures, the importance of institutions, transactional social costs, tax administration, IT-sуstem, electronic filing of declarations.

Baymatov A. A., Amindjanova M. M. Institutional factors of sustainable development of business sector of the regional economics // Business. Education. Law. 2019. No. 1 (46). Pp. 25–31. DOI: 10.25683/VOLBI.2019.46.137.