ANALYSIS OF THE EFFECTIVENESS OF THE REGIONAL INNOVATION SYSTEM. A CASE STUDY ON POLYETHNIC REGIONS OF THE RUSSIAN FEDERATION

The scientific assessment of the quality of innovation development institutions plays an important role in the modernization of regional innovation systems. At present, the scientific tools that allow us to assess the quality of innovation development institutions are not sufficiently developed, which limits the opportunities for institutional design of the regional economy. The goal of this study is to develop a systems-based approach to assessing the effectiveness of the institutional structure of regional innovation systems, and to identify the factors that determine the quality of innovation development institutions. Functional cost analysis is the basis of the methodological approach. Results of the research showed that an increase in financing the regional innovations resulted in a positive effect only in a third of the total number of the explored regions. In other cases, activation of innovative activity did not happen. Such result is explained partially by the lack of regional innovation systems (RIS) institutions in particular regions. The results of the analysis showed that the institutional environment of the regional innovation system in polyethnic regions plays an important, but not critical role. Socio-cultural factors and informal institutions have much more significant value; they either promote or interfere with the performance of RIS functions.