CONCEPTUAL MODELING OF THE INNOVATIVE ECONOMY INSTITUTIONAL ENVIRONMENT
The article substantiates the relevance of conceptual modeling of the innovation economy institutional environment. It suggests the procedure and the results of the institutional environment and the innovation economy conceptual modeling and their synthesis as innovation economy institutional environment. The following models can be applied as the conceptual basis for the objects’ development assessment. The paper also discusses the definition of institutions. It presents the arguments in favour of the regulatory interpretation as opposed to their organizational versions. The article gives a new detailed classification of the organization’s institutional environment as a system of multiple institutions with their specialized functions. It identifies the possible approaches to structuring the innovation economy, including the fulcrum, market-based and the organizational approaches. The author also proposes an integrative model of the innovation economy. Based on the synthesis of the institutional environment and innovative economy concepts, the author presents the general conceptual model of the innovative economy institutional environment, designed in the form of a “institutions - the stage of the innovation cycle” matrix.