The subject of the paper is to point out the influence of the so-called "neoliberal culture" on economic development in the SEE countries and to explain the relationship between "neoliberal culture" and alternative institutions. In order to understand the topics covered by the research, the nature of the relationship between culture and institutions, as well as the relationship between culture and economic development, are additionally explained. The goal of the research is to ascertain the negative impact of the so-called "neoliberal culture" in SEE countries. It is based on the hypothesis that, with its hybrid and pseudo characteristics, it favored the formation and strengthening of alternative institutions, that is, a long-term socio-economic crisis. In addition to the usual methods of social and economic sciences, the descriptive method and the creation of logical images and schemes were mainly used in the work. In conclusion, the initial hypothesis was verified.