Institutional aspects of innovative development of territories

Nikitskaya E.F.¹, Valishvili M.A.¹
¹ Российский экономический университет им. Г.В. Плеханова, Russia

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Journal paper

Creative Economy ^{(РИНЦ, ВАК)}
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Volume 12, Number 5 (May 2018)

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=35100864
Cited: 8 by 28.06.2023

Abstract:
The basis for the competitiveness of the domestic economy in the world market is the transition to an innovative type of development, which implies the activation of innovative business activities and the development of knowledge-intensive production as growth factors. Many studies confirm that the innovative component of any process, embodied in new technological developments or solutions, is the main catalyst for economic growth. At the same time, the processes of forming a new type of economy should be considered in conjunction with the formation of the corresponding institutions. The institutions regulating innovation processes become independent factors of macroeconomic development. The territorial aspects of the spatial development of the state's economy acquire special significance. The authors consider the structure and content of groups of norms incorporated in institutions with reference to the innovation process. The article also examines the importance of institutions and institutions as a component of innovative development, as well as an object of territorial regulation.

Keywords: institutional environment, innovative processes, institution, institutional factors, territorial development

JEL-classification: O31, R10, O32, R19

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