Features of Russia’s Institutional Transformation in Modern Economic Conditions: Tiered Approach

Abstract

The article considers changes in the Russia’s economic system in contemporary realities through the prism of level and comparative approaches to research. The author analyses the current state, as well as the occurred and potentially necessary transformations of the institutional system at the level of macro-regions of the domestic economy over the past twenty years (2005–2021). The analysis showed, the domestic economy on a regional scale had a different level of susceptibility and adaptation of the institutional system to modern realities and the changes that they entail, which affects the efficiency of the economic system as a whole. Based on the analysis, institutional gaps were also identified (between related institutions, the rules of the game and control, institutional levels) that exist at the present stage in the “institutional field” of the meso- and macro-levels of the functioning of the economy of the Russian Federation. Such gaps are considered from the standpoint of noncomplementarity between new and existing institutions, as well as the lack of interconnection between related rules. On the basis of the analysis carried out, the features of the institutional transformation of the domestic economic system from the standpoint of the economic and institutional components are revealed. The identification of these features shows the common characteristics of the digitalization processes of regional economic systems in the country, as well as their differences in the aspect analyzed. This, in turn, indicates the need to study the successful experience of introducing digital technologies of individual subjects of the Russian Federation into their economic system and its possible adaptation to less successful regions of the country.