The scientific publication is devoted to the issues of the institutional structure of the construction sector of Ukraine, which is formed through a set of organizations: state authorities, private and state enterprises, specialized state institutions in the field of construction, which determines the need to pay sufficient attention to the study of the peculiarities of the institutional system of the construction industry, determining its prospects development and promotion of the creation of effective organizational structures adapted to the present, both at the level of the state and at the level of regions.
The purpose of this scientific publication is to consider the essence of the concepts “institute” and “institutional system”, to study the characteristic features of the institutional structure of the construction sector of Ukraine. It has been established that the concept of “institute” has different interpretations in the scientific literature, each institution has an external coercion mechanism created by people to fulfill the tasks set within the framework of the institute, and it is proved that it is more appropriate and comprehensive to understand it as a highly organized system that unites in itself, the activity of people to achieve a social goal under the influence of a set of rules, norms of behavior, mechanisms, creativity, etc. The main factors of the formation of the institutional system of the construction sector of our country’s economy are systematized, divided into two types: formal and informal. When considering the institutional system of the construction sector, separate levels of the hierarchy (macro-level, meso-level, meta-level, micro-level) were identified, which also affects the formation of horizontal and vertical relationships. It has been established that the macroeconomic mechanism acts as a way of functioning of the construction industry as a whole and its individual enterprises and manages the mechanisms of pricing, financing and crediting, taxation, investment activities, development of business structures, regulation of the relations of market subjects for the purchase of construction resources and the sale of construction products . The role of the construction sector in ensuring sustainable development was considered, and the importance of implementing innovative solutions and the need for activation and improvement of state support were determined.
Key words: construction sector, investment, institutional systems, economy, innovation.
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The article was received 15.03.2021