| Summary: | <p>This article investigates formal external institutional factors affecting the development of the regional economic system.</p><p><strong>Purpose: </strong>To determine the effect of external factors on the formal institutional development of the regional economic system.</p><p><strong>Methodology: </strong>We used scientific methods: analysis and synthesis, comparison, generalization, systematic approach.</p><p><strong>Results: </strong>A concept of foreign institutional factors in the development of the regional economic system. Three main external formal institutional factors: the law and the legal system, the system of governance at the national and regional levels; judicial system.</p><p><strong>DOI: <a href="http://dx.doi.org/10.12731/2218-7405-2014-2-18">http://dx.doi.org/10.12731/2218-7405-2014-2-18</a></strong></p>
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