The variety of the local markets influence on the innovative development of the region

On the one hand, the features of the present stage of regional development caused the economic transition to the innovative model and the changes of internal business processes, on the other hand - it is because of the influence of globalization factors in the terms of the national economy sociability. These features cause the need to transform the system of local markets to ensure the sustainability of the regional economic system. The orientation of the regional economy on the technological innovation leads to the transformation of supply and demand parameters on the final markets and resources due to the change of business entities needs. The spatial character of the regional economy distribution, technological stratification and sectorial variation of innovative development make the necessary to provide simultaneous formation of local markets of innovative products and sustainable functioning of markets of traditional products and resources. However, there are different methods of local markets research, focused, mainly, on the separate development of certain types of markets, those avoid the need to explain their relationships and influence on the structural transformation of the regional economy. In addition, local markets traditionally regarded as subsystems of the territorial sphere of commodity circulation in the context of scientific research. However, in the context of the patency of national economy the regional local markets acquire new properties and qualities; those allow to use their capacity to ensure the sustainability of the regional economic system in the transition to an innovative model of development. The narrowing of difference between supply and demand parameters, arising between the periods of occurrence and satisfaction of innovation needs becomes executable. The article reviewed the specify conception of local market, analyzing the system of relationships between market agents with respect to the harmonization and implementation of economic interests. The conception explains additional characteristics of local markets - regional utility and multi-pronged effect on the innovative development of the region. Local criteria and strategy-preserving utility function are proposed. Also, the article shows the systemic nature of influence of local markets on the regional economic system balance and the conditions offormation of innovative potential of the region.