Institutional environment of innovative development of Russian regions – Theoretical treatment, empirical analysis

Abstract

Subject. This article discusses the relationship between innovation, economic processes and the institutional environment, as well as the motivation to consume and save. Objectives. The article aims to identify the vectors of influence of the parameters of the institutional environment on the innovative development of regions. Methods. For the study, we used the methods of logical, cluster, correlation and regression, and comparative analyses. Results. Calculations of the propensity to save and the propensity to immobilize savings show the absence of functions that describe their dynamics with sufficient reliability. During the analyzed period, the scalar and vector values of the indicator changed in a wide range, which is an unfavorable factor for the innovative development of the region. The institutional component of the economic behavior of producers of goods and services has a pronounced innovation orientation, in contrast to the consumer sector. Conclusions. The contradiction between the institutional and economic vectors of innovative development in the region is explained by the unstable dynamics of institutional indicators reflecting the behavior of consumers in the areas of consumption, savings, and investment. This circumstance requires the State's influence on the institutional parameters of the regional environment.