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Institutional factors determining the quality of innovative development of meso-level economic systems

Vol. 15, Iss. 4, APRIL 2019

Received: 25 February 2019

Received in revised form: 14 March 2019

Accepted: 28 March 2019

Available online: 15 April 2019

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: О31, О33, О43

Pages: 761–771

https://doi.org/10.24891/ni.15.4.761

Lisenker N.L. Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation
kopbito1@yandex.ru

https://orcid.org/0000-0003-0234-1362

Subject This article analyzes the influence of institutional factors on the quality of innovative development of economic systems of meso-level.
Objectives The article aims to present qualitative characteristics of the key institutions influencing the innovative development of economic systems at the macro-and meso-levels, taking into account that institutional changes are directly dependent on determining the optimal ratio and modernization of informal and formal development institutions.
Methods For the study, I used a content analysis of the available sources and statistics.
Results The article reveals certain characteristics of functioning and interaction of institutions helping determine possible ways of increasing the efficiency (quality) of the innovative development of meso-level economic systems. It notes that when developing certain strategies and mechanisms of realization of innovative development of meso-level economic subjects, it is necessary to take into account institutional factors, first of all.
Conclusions Institutional factors are determinants for the innovative development of socio-economic innovative systems at the meso-level. The development of formal institutions contributes to the formation of an innovative economy at both the meso-and macro-levels. Informal institutions can contribute to the promotion of innovation under their appropriate development.

Keywords: innovative economy, economic systems, meso-level, institutional development, innovation potential

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