Institutional environment for the development of regional high-technology industries

Abstract

Introduction. The effective development of high-technology industries is ensured by a high-quality institutional environment formed at both federal and regional levels. Most works in this field lack a systematic approach and leave room for the further study of the institutional environment for the development of regional high-technology industries. Purpose. The identification of the minimum required framework of the institutional environment that ensures the development of regional high-technology industries. Methodology. In this work we used the following general and special methods: analysis, synthesis, induction, deduction, generalisation, comparison, economic analysis, content analysis, and tabular interpretation of empiric and factual information. Results. We identified key political, legal, economic, and social institutions that influence the development of regional high-technology industries. Conclusions. The institutional environment is a complex and multidimensional system of institutions and their interactions that influence the activities of all economic agents, including innovative and high-technology companies. Therefore, it is necessary to ensure the formation of high-quality institutions at both federal and regional levels that will make the interactions in the field of high technologies predictable, decrease transaction costs, and so on.