Research into the state of development of an innovative economy enhances the role of knowledge in terms of economic growth. The efficiency of the economic activity of the subjects of the North Caucasus Federal District, first of all, is characterized by the indicators of innovative activity, which, in our opinion, are a fairly universal and informative criterion that objectively determines the overall state of the economic system.

Keywords: knowledge economy, regional economy, innovation economy, innovation activity, socio-economic development, institutional infrastructure.

An assessment of the innovation infrastructure of the regions of the North Caucasus Federal District was carried out, which showed that their organizational structure does not create conditions for the effective functioning of innovative processes, which is expressed in weak innovation activity, a small number of innovative firms, a low degree of commercialization of scientific developments and their implementation efficiency, in the absence of effective market mechanisms. financing science and innovation.

Keywords: innovation infrastructure, innovation activity, regional economy, institutional environment