Institutional barriers to the development of the knowledge economy

Abstract

Institutional barriers to the development of the knowledge economy

Makhosheva S., Kandrokova M., Kokov A., Albekov H., Nikaeva R., Shalova Sh.

Incoming article date: 14.09.2020

The formation and effective development of the knowledge economy in the country is possible only with a stable and Mature institutional environment. Indices of the knowledge economy and institutional regime calculated using the world Bank methodology determine the country's readiness for further development. According to the rating, Russia shows a problematic institutional component. The article examines the main institutional problems and barriers, namely institutional traps that hinder the development of the knowledge economy, explains their mechanisms and consequences for the Russian economy, and suggests ways out of them.

Keywords: knowledge economy, institutional traps, barriers, innovation, economic development, mechanism