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Section 11. Economic theory
Shkuratova Maria Vladimirovna, senior lecturer, Chair of Economy and Organization of the Health Service and Pharmacy, Pyatigorsk Medical and Pharmaceutical Institute, branch of the Volgograd State Medical University, Pyatigorsk, Russian Federation E-mail: maria-shkuratova@yandex.ru
ROLE AND SIGNIFICANCE OF THE INSTITUTIONAL STRUCTURES AND THE INSTITUTIONAL ENVIRONMENT IN THE DEVELOPMENT OF THE KNOWLEDGE ECONOMY
Abstract: The article aims to explore the concepts of knowledge economy, which include "knowledge" and "innovations". At the current stage of socio-economic development, the notion and the potential of the knowledge economy, as a new type of economy, is universally recognized, which is reflected in the development strategies both at the national and international levels. It can be concluded that for the effective functioning of the economy, it is necessary to ensure productive development of the institutional environment and formal institutions.
Keywords: Knowledge Economy, Knowledge, Innovation, Institutions, Institutional environment.
In the scientific environment, the notion of in- of postindustrial society, which was first used by the dustrial economy as a system based on the indus- sociologist D. Bell in 1959 and received the final theo-trial production and capital, reflected through the retical justification in his work "The future post-indusmaterial equivalents, is no longer relevant due to the trial society" [1]. Within the framework of the given shift in economic interests in the spheres of knowl- work, D. Bell minutely examined the processes of the edge, information technologies and services (D. Bell, formation of the service economy, the establishment P. Drucker, F. Machlup, A. Touraine, V. Inozemtsev). of the knowledge bearer classes, the amendments of
Since the mid-twentieth century, scientists have educational structures of the society, as well as de-
begun searching for terms that could fully reflect the scribed the trends towards the establishment of the
essence of the innovative and reformatory processes, corporations and the dominance of the technocratic peculiar to the leading world powers in the post-war class. According to D. Bell, "These two concepts - the
period. Among different concepts ("Post-bourgeois pace of change and the change of scale - are the or-
society", "post-capitalist system", "post-entrepreneur- ganizing ideas for the discussion of the central struc-
ial" and "post-market" society, as well as post-tradi- tural components of the post-industrial society, the di-
tional, post-civilization or post-historical society (cit- mensions ofknowledge and technologys" [1, P. 235]. ed in Inozemtsev V. L. Postindustrial world of Daniel This approach predetermined the future interrelation
Bell, p. XIV [1]), the most relevant was the concept of the economy and fundamental scientific research.
Subsequently, the investments in "knowledge" or more specifically in research, innovations and technologies can be the main prerequisites for the economic growth and productivity. Nowadays, after a lapse of time, it can be noted that the studies by the leading theorists and practitioners of economics and sociology of the second half of the XX century were built mainly around the axes- knowledge and information, first suggested by D. Bell and his contemporaries (P. Drucker, F. Machlup, K. Arrow, V. Rostow, T. Stoner, Y. Masuda, M. Castells). If we consider the works at the end of the XX and the beginning of the XXI century, we can observe the establishment of the directions in economic science, similar to knowledge, which are based on the knowledge, the productivity of scientific research and its relationship with the economy: innovative economy, neo-economy, information economy, intellectual economy. However, at the current stage of social and economic development, the idea and potential of the knowledge economy, as a new type of economy, is universally recognized, which is reflected in development strategies both at the national and international levels.
Leading world powers for many years include the concept of the future economic growth and development of the knowledge itself, or rather their production, distribution and use. First ofall, this is enshrined in the regulations and documents ofvarious structures and organizations that make up National Innovation Systems (NIS) . As a result of research, on the importance and the role of the NIS at the state level, a concept was formed which is the basis of the programs of a number of leading international organizations (the Organization for Economic Cooperation and Development, the European Union, the United Nations Industrial Development Organization), focused both on the spheres of innovation, technology and on the issues of ensuring the existence and development of national innovation systems.
For the first time, the concept of"National Innovation System" was introduced by K. Freeman in 1987. According to the definition, NIS is a network ofpublic
and private institutional structures, as a result of the activities and interactions ofwhich, new technologies are being created, introduced, modified and disseminated.
Later, in 1992, B.-A. Lundvall emphasized the national aspect of the given system, describing NIS as the elements and relationships which interact in the production, diffusion and use of new, and economically useful knowledge. These elements are located or have been implemented within the state (on the territory of the state) [5]. Similar definitions of NIS were justified by the fact that the knowledge-based economy is not a science in its classical sense, but a "living", constantly changing system of relations between the participants, generating the flow of knowledge and innovations - research, projects, educational institutions, which distribute and use the acquired competitive knowledge and technologies for economic growth - legal, financial, social institutions, enterprises and firms.
At the state level, the knowledge economy is represented by the work of national innovation systems and basic institutions that guarantee their functioning. The national character determines the difference between the systems of different countries, but the institutional approach and ways of interaction of institutional systems are generally unified. Russian researchers [2, 3] distinguish the following blocks (structural elements) that are the bases for NIS:
1. A creative block or block of knowledge generation (scientific institutions, universities, etc.).
2. A block of technology transfer (organizations and non-profit foundations that perform the function of an intermediary between the author of innovations and the entity of economic activity acquiring rights to it).
3. The financing block (banks, venture companies, public and state funds, etc.).
4. Production block (large, operating companies, and new enterprises involved in the organization of innovative production).
5. Block of personnel training (universities, national engineering schools, whose work has a
systematic character and is aimed at the formation of a scientific elite).
The presented blocks, as a result oftheir j oint work, ensure the constant interaction of the private and the state sectors at all levels of institutional organization. It can be noted that they constitute a triad of a closed cycle - state ^ science ^ production ^ state, which is the bases for the national policy of countries and is the key to economic welfare. When considering each block separately, institutions come to the fore, as the main mediators, ensuring the interaction and integrity of the national innovation system.
The concept of "institution" has various definitions; in modern scientific interpretation institution in its broad sense is a number of "rules" ("rules of the game") that regulate the behavior of individuals in the society. In the context of the knowledge economy, the institution is a stable system, which, on the one hand, ensures interaction between economic agents in accordance with generally accepted norms and rules, and, on the other hand, controls and enforces compliance with these rules. Institutions fulfill a crucial role in all economic systems, contribute to the stabilization of processes by reducing uncertainty and minimizing transaction and transformation costs.
Among the basic institutions of the knowledge economy, the following can be identified: knowledge production institutions (research and development centers, research organizations, design and design bureaus), institutions of knowledge extension (higher education institutions, educational centers for additional and corporate educations), institutions for the development of knowledge (technology parks, business incubators, technology transfer centers). Institutions, performing organizational and managerial functions in the knowledge economy, include legal (organizations that protect rights, rights delegation and ownership rights) and financial institutions (banks, venture companies, insurance and guarantee funds). If we consider the above-mentioned institutions as a single whole, we should combine them
within the following concept - the institutional environment.
The institutional environment, with regards to the knowledge economy, is a combination of fundamental economic, legal, political and social rules that form the basis for the production, protection, transfer, storage and use of knowledge. The institutional environment is the organizational level at which different entities jointly or individually contribute to the development and dissemination of new technologies and innovations, this level is responsible for the formation and implementation of the goals of government, determined in accordance with the requirements of the knowledge economy. Ultimately, the main tool for stimulating innovation and forecasting strategies for the development of the knowledge economy is in the hands of the state as the most powerful institution. The more actively the government reacts and participates in the transformation processes generated by the knowledge economy, the more obvious is the economic growth in comparison with other countries.
Knowledge generation in the past was not so dynamic, today the government itself, with the help of economic and organizational and legal instruments, controls the flow of new knowledge and information that are radically different from material resources. The knowledge, within the concept of the knowledge economy, is simultaneously a "source material" (resource), a product of activity, a source of value and an instrument of competition. In this regard, the state must take into account the interests of all participants in the institutional environment and the interests of the national development strategy, for stimulating and regulating the activities of innovation processes.
The knowledge economy has proved its effectiveness within the framework of the concept of national innovation systems; nevertheless, in the world market, countries, in addition to scientific potential, have been able to ensure the productive development of the institutional environment and formal institutions. The presence of an inert institutional
system can inhibit any technological and innovative ization of institutional foundations that have poten-
breakthroughs; therefore, the special attention at the tial relevance to the development of the knowledge
governmental level should be given to the modern- economy.
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