Komelina Olha Volodymyrivna and Shcherbinina Svitlana Adamivna
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the market economy model, in which the role of the state is limited largely to lawmaking, law enforcement and income redistribution. All these changes decreased the role of politicians in current economic management and in investment decisions, and increased the role of innovators and entrepreneurs. As a result, a growing divergence was globally replaced by a growing convergence.
The role of institutions in economic growth according to Acemoglu and Robinson
There is a rich body of literature about the role of institutions in economic growth ( IMF 2003
standards as well as the ways and scope of circumventing the standards, e.g., the rules of the recruitment process for managerial positions in the public sector or law-making procedures.
In connection with the differences in the trajectory of the development of the region’s countries, the thesis was negatively verified that systemic changes in CEE can be considered in terms of one model of “Eastern European capitalism”, whose institutional framework would be common to all the countries in the region [ Stark 1996 ]. What has developed is a heterogeneous mosaic of