ABSTRACT
The conceptual link between economic reforms and the evolution of public and private order institutions is that economic reforms as parameter and qualitative shifts are basically changes in the public order institutions in scope and objectives which trigger a growth process through structural and micro level changes, as shown in the previous chapters. This, in turn, leads to the emergence or shifting of economic interests of private agents, which can trigger private order actions for changing both formal and informal institutional arrangements. The interaction between the formal and private order institutions determines the efficiency of economic activity and further improvement (or deterioration) of the prevailing institutional environment. It is important to note that some changes in the public and private order institutions are independent of the reforms, while others are triggered by the reforms. I discuss both these aspects in this chapter.
