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The developed market economies exploit 'the price mechanism' being assisted by the operation of various institutional instruments and measures which rather support and complement the regulatory role of the neoclassical price system than limit the influence of the market. A specific form of the mutual interplay of competitive and cooperative relations is the concept of clusters. The article attempts to reconstruct the most important elements of this concept in relation of the economic role of clusters to the theory of regulation. We present the origins and the relevant definitions of clusters, their attributes and typologies, as well as the criteria of their identification. The results of our enquiries seem to support the thesis that the concept of clusters can be regarded as an important complement of neoclassical economic theory and as an extension of the new institutional economics thanks to the introduction of another dimension, viz. of the element of trust.
The existence of poorly shaped institutional system leads to a reduction in the efficiency of economy functioning and leaves a gap for creation of informal institutions, such as the corrupt behaviour. Corruption has a negative impact on the economy and society, affecting directly other elements of the institutional system, such as: investment, education, trade policy, political stability, public finances and institutional environment. The progress made in the techniques of measuring corruption, has created the possibility to estimate its impact on growth factors. The results of these analyses indicate the indirect negative impact of corruption on economic growth measured by gross domestic product (GDP). Still some researchers notice also a neutral or positive impact of corruption on economy.
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