Economics at your fingertips  

Neo-institutional Approach for Regional Economic Development: The Impact of Sociocultural Determinants

Leyla Gamidullaeva

International Journal of Economics & Business Administration (IJEBA), 2019, vol. VII, issue 2, 12-25

Abstract: Purpose: The aim of this article is to analyze neo-institutional approach for regional development by identifying the impact of sociocultural determinants at regional level. Design/Methodology/Approach: For regional economic development, it is required to identify sociocultural factors that contribute to (or impede) the innovative economic development of the regions by highlighting regions in which sociocultural factors will rather contribute (or rather impede) innovative development. Findings: To take account of the influence of sociocultural factors on the effectiveness of institutional transformations, a system of indicators has been developed, evaluating sociocultural characteristics and behavioral attitudes of economic agents in a certain region. Practical Implications: The author developed recommendations before starting the process of institutional changes in a specific regional innovation system. Practical Implications: The article formulates recommendations on the implementation of institutional changes in the region taking into account the sociocultural characteristics of the region’s population. Originality/Value: Sociocultural background is very important in terms of fine-tuning the process of institutional in regional level. As such it can be used for changes and to determine the specifics of their conduct in the regions of the Russian Federation.

Keywords: Neo-institutional approach; region; innovation system; sociocultural factors. (search for similar items in EconPapers)
JEL-codes: D02 O43 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in International Journal of Economics & Business Administration (IJEBA) from International Journal of Economics & Business Administration (IJEBA)
Bibliographic data for series maintained by Marios Agiomavritis ( this e-mail address is bad, please contact ).

Page updated 2020-10-14
Handle: RePEc:ers:ijebaa:v:vii:y:2019:i:2:p:12-25