Kalandarov Ravshan Abdukayumovich,
Associate Professor, Department “Economic security”
Tashkent Institute of Finance
Abstract. The article analyzes in detail the essence and types of institutions. The evolution of theoretical approaches to the development of the real sector through institutional changes is studied in four stages. Many scientific studies have been carried out to analyze the impact of institutional changes on economic growth. Based on their results, we can say that some institutional changes made in the course of evolutionary development contributed to the economic growth of the country, while others were not affected by this process. But if institutional changes implemented in countries have caused economic development, then it is not guaranteed that the same institutional changes will have the same result in other countries. Therefore, it is necessary to take into account the national characteristics of the institutional system operating in the country. Based on this, it is necessary to form the main directions of institutional changes, a set of measures.
Keywords: institution, institutional changes, institutional environment, institutional matrix, economic growth, innovative economy, classical economics definition, institutionalism theory, theory of neoliberalism, opportunity and constraint system.