On the Issue of Classification of Institutional Rent as a Socio-Economic Category of Rent Relations: Methodological Aspect

In scientific research, the use of socio-economic categories allows analyzing and identifying trends or dependencies for decision-making on developing government response measures to socio-economic risks and challenges. In this study, institutional rent is considered as a socio-economic category reflecting the most essential properties and connections of rent relations, which is formed and implemented in the process of organizational interaction between subjects of rent relations in the production, consumption and redistribution of property rights to socially significant goods. The presence of an institutional environment for socio-economic development allows subjects of rent relations to use institutions to reduce transaction costs of their organizational behaviour. Under these conditions, an institution becomes a resource for rent relations, and the ability to reduce organizational costs through the effective use of institutional factors, an independent competitive advantage, allowing subjects of rent relations to extract monopoly income in the form of institutional rent. The use of classification as a general scientific method for systematizing knowledge about institutional rent allows us to expand the theoretical basis for research into rent relations and propose new directions for using institutional tools for its analysis, which determines the relevance of this study. The aim of the study is to clarify the methodological features of the classification of institutional rent as a socio-economic category of rent relations. The paper clarifies the definition of institutional rent and substantiates the methodological features of its classification, the criterion of which is the ability of subjects of rent relations to form their competitive advantages through the use of formal institutions and informal restrictions in the process of reducing various types of transaction costs. The article proposes a general classification of formal institutional rent by the level of hierarchy of formal institutions, and informal institutional rent by the type of informal restrictions created by the institutions of family, culture, religion and education

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