The Political Economy of Institutional Changes, or Methodology of Transition Period Research

<p>The author reveals the content of the concept of ‘transition period’ which is widely used both in academic literature and in everyday life, yet remains the most incomprehensible and mysterious phenomenon. The article also aims to trace, through the prism of change in institutions, certain regularities inherent in the transformation processes which form one or another potential for socio-economic development and growth.</p>