The article provides analysis of the changes in the formation of new institutions within the system of distribution of economic factors as the basics of the whole system of income distribution. The author proves, that institutional factors, which were not considered by the reformation economists in the countries with transition economy, caused distortions in privatization and deformation of the functional role of private property.

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The author analyses the following features of the Chinese model of market transformations: evolutionary character, gradual progress, creation of free economic zones, and political and legislative stability.

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The article questions dogmatic and administrative implementation of private land ownership as a single possible way to provide effective functioning of agrarian sector of Ukraine. The tendency to increase in land value in conditions of actualization of food security issues is disclosed.

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The article provides a fragmentary insight into the economic theories, which adequately reflect the development of economy and the state’s institutional role.

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