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Univerzitet za poslovni inženjering i menadžment , Banja Luka , Bosnia and Herzegovina
Big systemic changes in post-socialist countries of Southeast Europe, which occurred during the 25-year period caused significant institutional reforms. However, instead of the expected and promised evolution of formal and informal institutions there has been more of their cosmetic than essential changes. Real institutional changes have substituted by various forms of alternative institutions. This paper explains the causes and factors who were decisively influenced to the economic development of most post-socialist countries. Starts from the hypothesis that alternative institutions caused dysfunctional movement of institutional changes, which consequently led to the forcing of non - development economic policy in the long term with very critical results. In the conclusion is verified starting hypothesis and states the need for different institutional modeling based on exemplary models of developed countries and the recommendations of the neoinstitutional economic theory.
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