Informal institutions of the regions as a tool for finding pathways for socio-economic development

Abstract

Subject. Informal institutions as subsystems of regional socio-economic systems characterised by a number of quantifiable parameters that enable searching for promising areas of innovative development.
Objectives. Identification of peculiarities of changes in the institutional parameters of the regional system from the perspective of their possible influence on socio-economic processes.
Research methods. Dialectical and monographic methods were used to formulate the hypothesis of the study, which made it possible to identify the weaknesses of the classical and modern analysis of institutional dynamics. To identify the dynamics of institutional parameters that relevantly reflect market processes in relation to the country's regional systems, we used quantitatively measurable indicators previously proposed in classical economic literature: tendency to consume and tendency to save. Additional indicators were proposed: tendency to monetise assets; tendency to immobilise savings; tendency to materialise investments; tendency to innovate. It was proposed to use the “innovation performance” as a parameter of socio-economic development. Quantitative measurements were carried out using cluster analysis, which allowed distinguishing homogeneous groups of Russian regions by a set of proposed indicators. Calculations of the actual and forecast dynamics of the model region were carried out using correlation and regression analysis.
Results and discussion. As a result of calculations, it was established that institutional indicators change at a high rate. They do not follow a certain, statistically reliable trend. The variability of their forecast status is high, which makes it possible to consider the changes in these indicators as a tool for finding promising pathways for innovative development.