Russkova E.G., Buyanov S.I. THE IMPACT OF THE INSTITUTIONAL MECHANISM OFTHE BUSINESS ENVIRONMENT ON THE OPPORTUNITIES FOR ECONOMIC GROWTH IN THE REGIONS OF THE RUSSIAN FEDERATION
DOI: https://doi.org/10.15688/ek.jvolsu.2023.4.3
Elena G. Russkova
Doctor of Sciences (Economics), Professor, Vice Rector, Volgograd State University, Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-9392-3642
Semen I. Buyanov
Junior Researcher, Department of Economic Theory, Regional Economics and Entrepreneurship, Volgograd State University, Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0009-0009-5927-1765
Abstract. A definition of the institutional mechanism of entrepreneurial activity is proposed, and the main essential characteristics of the phenomenon under study are identified. The influence of the functioning of the existing institutional mechanisms of the business environment on the opportunities for economic growth in the regions of the Russian Federation has been studied. An assessment was made of the impact of the activities of support institutions on the efficiency of the business sector by calculating the growth rate of GRP and a similar indicator of revenue for the business sector (the time lag is limited to 2021). The coefficient of involvement in business activities of economic entities in the Southern Federal District was calculated in order to determine the effectiveness of the existing institutional system in the regions. An analysis of the main factors in the development of the business sector in the regions of the Southern Federal District was carried out, and the level of development of the institutional infrastructure for stimulating entrepreneurial activity was determined. A score-rating assessment of the effectiveness of changes in the institutional mechanism was carried out according to the following indicators: growth in revenue of the business sector, change in the number of employees in the business sector, growth in export potential of regions, growth in lending rates, population involvement in business activities, and change in the amount of overdue debt. A methodology for calculating the integral indicator of the effectiveness of changes in the institutional mechanism is proposed, and their calculation is carried out. Problems and contradictions within the functioning of this mechanism have been identified. Measures have been identified to improve the institutional mechanism for stimulating entrepreneurial activity and should be concentrated in the following main areas: improving the organizational mechanism through the creation of a “road map”; improving the support infrastructure by developing interaction with development institutions from other constituent entities of the Russian Federation and including regional universities in the support system; stimulating entrepreneurial activity in industries of sustainable demand by developing production cooperation, creating conditions for nurturing new entrepreneurs, expanding sales opportunities in neighboring regions and border states; and developing institutional work in the direction of stimulating innovative entrepreneurship.
Key words: institutional mechanism, business environment, regional economy, regions, entrepreneurial activity.
THE IMPACT OF THE INSTITUTIONAL MECHANISM OFTHE BUSINESS ENVIRONMENT ON THE OPPORTUNITIES FOR ECONOMIC GROWTH IN THE REGIONS OF THE RUSSIAN FEDERATION by Russkova E.G., Buyanov S.I. is licensed under a Creative Commons Attribution 4.0 International License.
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