Institutional Systems and Geopolitics
Purpose: The aim of the article is to identify institutional changes on a global scale taking into account the existing interdependencies between the key leaders of globalisation, i.e. the US, China, the EU as well as transnational corporations. An attempt has also been made to characterise the basic features of a model institutional system in relation to the given farming conditions. Design/Methodology/Approach: The article is theoretical in nature, however, referring to previous empirical research by the author and other representatives of institutional economics and development economics. The paper draws on research methods used in economic theory and management science theory. Findings: Crucial to the issues raised are the relationships between institutional systems in the global economy, their intersection and their relationship with geopolitics. Practical implications: Existing forms of cooperation within the framework of globalisation processes have led to a narrowing of differences in the levels of socio-economic development between countries — the world economy leaders. In the competition for technological leadership, the quantity and quality of human resources, the ability to mobilise capital and the creation of organisational structures (clusters) are crucial. Originality/value: Developing the concept of a model institutional system taking into account the limiting conditions.