Institutions and economic freedom as factors of economic development

Economic development is a top priority for any government. To achieve it, it is necessary to take into account many factors, the institutional environment being one of them. The relevance of this study lies in the fact that institutions determine the vector of development of society, so it is important to know how they function and how they can be influenced. In this paper, the main provisions of the institutional theory are studied, the concept of economic freedom and the change in its degree under the influence of the properties of the institutional system and their transformation are analyzed.