Globalization and regionalization: Institution aspect

Abstract

The urgency of the analyzed problem is due to the fact that regionalization and globalization have a dual nature and depend on the institutional system, which, in turn, affects the establishment of new rules in the economic space in which interact businesses. The purpose of the article is to justify the fact that the institutional aspect of globalization and regionalization is, above all, in the establishment of new rules and norms of the economy that affect all businesses, and one of the key roles is performed by innovation and investment institutions. The main methods in the study of this problem is the dialectical method, which allows identifying trends in the development institutions at the regional level. Results: the article proves that the development of modern market institutions is associated with the stimulation of innovation activity in the regions and the creation of innovation systems in them, the effectiveness of which depends on the degree of interconnectedness and interdependence of the national innovation system, which corresponds to the globalization processes. The data of the article may be useful in determining institutions of the Samara region that promote economic development and competitiveness of the region, as well as practical development of managerial decisions related to improving the efficiency of the use of economic and administrative resources. © 2016 Matveev et al.