Testing the level and factors of institutional rationality in Montenegro, Serbia and Bosnia and Herzegovina

Mimo Draskovic, Sanja Bauk, Milica Delibasic

Research output: Contribution to journalArticlepeer-review

14 Citations (Scopus)


This paper analyzes the perception of the respondents in Montenegro, Serbia and Bosnia and Herzegovina regarding the level of institutional rationality and the deficit of basic selected factors that have a predominant impact on it. It uses and explains the conditional notion of institutional rationality as a specific form of bounded economic rationality. It starts from the basic hypothesis that during the long-lasting transition process there were four groups of inhibitors to the introduction and development of institutional rationality in the mentioned countries (rule of law, institutions, civil society and opportunistic behavior), the reason being their deficiency (underdevelopment). From the basic hypothesis, an auxiliary one arises - that overcoming the deficit of the mentioned inhibitors would have a direct and decisive impact on the increase in the level of institutional rationality, and thus, the impact on economic development. This primary hypothesis is experimentally proofed throughout appropriate multiple linear regression analysis.

Original languageEnglish
Pages (from-to)27-45
Number of pages19
JournalEconomics and Sociology
Issue number2
Publication statusPublished - 2016
Externally publishedYes


  • Alternative institutions
  • Institutional rationality
  • Institutions
  • Opportunistic behavior
  • Regression analysis

ASJC Scopus subject areas

  • Sociology and Political Science
  • General Economics,Econometrics and Finance


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