Subject. This article looks into the social consequences of the digital transformation of the economic system. Objectives. The article aims to reveal the innovative and creative potential of the national economy and analyze the institutional conditions associated with the socio-cultural specifics of Russia. Methods. For the study, we used the methods of logical, structural, and comparative analyses. Results. The article finds that there is a need to take a number of measures to form an optimal system of institutions, which should support creative research potential, innovative production, and ways of commercial implementation of innovations. Conclusions. Russia's creative economy sector innovative development and growth depend largely on a favorable institutional environment.
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