Universiteti xabarnomasi

Conclusion 
We believe that the market for institutions can experience a 
deficit of rules when the demand for institutions exceeds their supply 
(Q
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). In real life, such a situation occurred in the post-Soviet space 
after discrete institutional changes. As a result, an institutional vacuum 
was formed in the economic system, which was quickly filled by 
modified informal rules, transplant institutions. The predominance of 
informal relations over formal ones, and the inadequacy of transplant 
institutions in real life, were accompanied by a rise in legal nihilism 
(people's distrust of the law in general). 
At the other extreme, there is an excess of institutions in a given 
market, which is evidence of excessive bureaucratisation and increased 
administrative pressure that stifle entrepreneurial activity and force 
operating firms to turn to an alternative institutional environment, 
expanding the scope of the shadow economy. In these circumstances, 
the inclusion of mechanisms for de-bureaucratisation and deregulation 

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of the economy is seen as one way of moving towards equilibrium. In 
addition, the diversity of institutions includes a mechanism for 
competition between them. The sign of a winning institution is its 
systematic use, and the sign of a losing institution is its disappearance. 
The situation of institutional equilibrium has already been described, 
but we must bear in mind that it lasts for a short time and leads to a 
break in the bargaining power of the parties, which serves as a basis for 
further institutional change. 
On the whole, we believe that the basic premises of the theory of 
institutional change are key to understanding institutional change in 
small business.