Institutional factors of innovative processes in Russian regions

The article describes institutional factors of innovation development in Russian regions. The author justifies the specificity of the impact of institutions’ quality on various stages of the innovation process. Substantiation of the “regional nature” of both institutional and innovative development is given. A conceptual pattern of institutions’ impact is presented taking into account the identified stages of innovative process (the stage of formation of new knowledge and the stage of commercialization of innovations). Based on the correlation analysis, the relationship between institutional characteristics and innovative development is evaluated by the example of Russian regions. Conclusions are drawn about the existence of a statistically significant relationship between institutions and innovations. It is pointed out that there is no evidence of the specific impact of institutions at different stages of innovative process, but the difference in the impact of different types of institutions on innovative development is justified. The obtained results can be used in planning regional innovation policy, since they enable us to more accurately assess the influence of institutional characteristics on various indicators of the effectiveness of regional innovations.