Abstract
The author examines institutional, as well as economic approaches to natural monopolies investigation. Institutional peculiarities of their development are analyzed; the structure of the institutional environment of natural monopolies is characterized. The problems of regulation of natural monopolies are identified. The process of regulation of natural monopolies is considered through the prism of the effect of dynamic inconsistency. The formal and informal interaction of natural monopolies and government agencies are defined. It is proposed a step-by-step state regulation of natural monopolies with due regard for market instructions maturity. There are formulated additional measures of state regulation of natural monopolies. DOI: 10.5901/mjss.2015.v6n1s3p73
Highlights
The overall goal of socio-economic reforms in the Russian Federation is to create an institutional system that generates such norms and standards of conduct and regulation of natural monopolies, which would increase the quality level of all strata of the population
Understanding the functioning of the economic system and the economic mechanism of the economy requires the analysis of very complex interactions between society and economy, natural monopolies of and State or together as part of the economic system in terms of the institutional approach
The relationship between society and economy are determined by a set of institutional constraints that define the mode of functioning of the economic system
Summary
The overall goal of socio-economic reforms in the Russian Federation is to create an institutional system that generates such norms and standards of conduct and regulation of natural monopolies, which would increase the quality level of all strata of the population. Understanding the functioning of the economic system and the economic mechanism of the economy requires the analysis of very complex interactions between society and economy, natural monopolies of and State or together as part of the economic system in terms of the institutional approach.
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