Assessment of economic institutions quality as a basis of investment climate reforms

The investment climate reforms are essential for economic development of countries and regions. Most of these reforms include institutional changes, such as adjustment of laws, legal acts and rules of business. The article analyses the process of assessment of quality and efficiency of existing economic institutions. The author discusses three basic approaches to assessment of the quality of economic institutions, the most promising of which is the use of the experience of direct users of economic institutions - entrepreneurs and investors.