Institutional and investment factors influencing changes in the development of the regional economy against the background of cyclical fluctuations

Анотація

The increased activation of institutional and investment factors is crucial in the formation of a new model of growth of the Russian economy, with the help of which the selection of an innovation function is carried out depending on the instruments-factors. The modern economy is less amenable to research using traditional approaches to analyzing the dynamics of macroeconomic indicators. The relationships of market counterparties with each other, which determine a specific phase of the economic cycle, are significantly influenced by institutional and investment-innovation factors and changes that occur under the influence of these factors. The study of institutions, institutional factors of economic growth and their institutional implications lies in the cyclical fluctuations of modern economic systems, with well-established institutional approaches to the study of economic dynamics, has a broad institutional base. Due to the increased development of IT technologies, against this background, general laws and patterns are rapidly developing that affect the transformation of the economic system and all spheres of human activity, a new model of economic development is being formed and requires the use of an integrated interdisciplinary approach, at this stage marginalism becomes a characteristic transformation, requires new rules for the development of laws and the formation of a fundamentally new interaction of market entities and qualitatively new technologies of a strategic nature. Based on this, institutional factors of economic growth are the driving force behind the development of new institutions, the transformation and modernization of existing ones, changing their focus on changes related to the development of technology, as a result of which methods and instruments of economic influence are transformed, the processes of economic growth are modified through the formation and development of infrastructural transformations. Institutions (as system formations) define the «rules of the game» in the economy and society, defining the structure of interaction that governs and restricts relations in society. The application of an integrated interdisciplinary approach to the formation of a competitive partnership based on the theory of cyclical economic development makes it possible to determine that the transformation of industrial relations and processes is developing and transforming the entire economic system, making major changes in the field of services and the provision of services based on artificial intelligence and knowledge. Completely new relationships between business entities are being formed, new architectural forms and chains are being created in the management system in the technological sphere of production and logistics.

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