Regional Development Institutions in Russia

The purpose of the article is to analyze the creation of development institutions in Russia over the period 2005-2013 and the assessment of the impact of regional development institutions on regional economic space of Russia. Systems approach, analytic method and correlation analysis were used in the study. 83 subjects of the Russian Federation of 8 federal districts are included in the analysis. The article examines the dynamics of creation and features of spatial distribution of regional development institutions in Russia. The subjects of the Russian Federation which are leaders in the quality of development institutions and the volume of attracted funds through them into the economy are identified. The efficiency of regional development institutions is determined through the assessment of their impact on economic growth in the federal districts and in Russia as a whole. The overall impact of all regional development institutions on regional economy in Russia is identified. The role of such regional institutions as regional funds for SME support, regional venture capital funds, development corporations, mortgage funds, special economic zones in the development of regional economies is explored. DOI: 10.5901/mjss.2015.v6n3s5p10