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Regional Economics: Theory and Practice
 

The Russian economy's creative and innovative potential realization environment: The institutional aspect

Vol. 19, Iss. 9, SEPTEMBER 2021

Received: 3 June 2021

Received in revised form: 30 June 2021

Accepted: 28 July 2021

Available online: 15 September 2021

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: E02, E71

Pages: 1730–1744

https://doi.org/10.24891/re.19.9.1730

Tаt'yаnа А. SUBTSEL'NАYА Lomonosov Moscow State University, Moscow, Russian Federation
subсelnаyа@mаil.ru

ORCID id: not available

Kirill V. SITNIKOV Lomonosov Moscow State University, Moscow, Russian Federation
kirill.sitnikov27@gmаil.com

ORCID id: not available

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.

Keywords: innovation, innovative development, creative economy, institutions, institutional environment

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