Structural-institutional model of domestic consumer market

Abstract

Globalization of economic processes stipulates the qualitative changes in the structure of national economic systems, including in such an important component as the domestic consumer market, causing the updating and creating new rules of its functioning. Shifting focus towards the growing role of innovative-informational factors of domestic market development corresponds to the needs of the market economy and modern challenges faced by our country. Therefore, the need to not only analyze the substantive and transformational aspects of domestic consumer market development but to research the issues related to its structural and institutional maintenance grows in relevance. The paper aims to analyze foreign scientific research related to highlighting economic patterns of domestic consumer market functioning and to develop on this basis the structural-institutional model of the domestic consumer market. The paper outlines the nature of the discourse related to “institutes” and “institutions”. The structural-institutional concept of domestic consumer market functioning is determined. The structural-institutional model of domestic consumer market is developed and its exogenous and endogenous environment is defined. The fact that such a model can be implemented through the use of such institutional elements as the market functioning mechanism used as leverage of impact on economic agents (market participants) is emphasized. The composition of forming and development of structural-institutional links between the domestic consumer market entities is suggested. The structural-institutional dimension of domestic consumer market functioning is found to show the importance of the use of the complex approach to its development by the specification of accents on relationships between all institutional components that can secure normal market activity in the domestic environment.