THE ROLE OF KNOWLEDGE ECONOMY IN SUSTAINABLE DEVELOPMENT OF REGIONS

Abstract

 The article is devoted to the research of theoretical approaches to the development of knowledge economy and state regulation of innovative development of the region machinery. The term "knowledge economy", according to the authors, includes: post-industrial economy; information economy; innovative economy; the global network economy. Preconditions of formation of economy based on knowledge is the creation of two important conditions: the development of the social capital of the state and the presence of the national (state) innovation system. On the example of the Republic of North Ossetia-Alania necessity of development of mechanisms of formation of knowledge economy, adequate conditions and level of development of the region is presented. As part of the modernization and sustainable development of the region it is developed an innovative development strategy of the Republic of North Ossetia-Alania, the implementation of instruments which, as the analysis does not correspond to the needs and pace of innovation. Existing institutional arrangements in the region focus on stable companies, whereas the actual is to support the ability to launch the newly established innovative enterprises. Investment attractiveness of innovative projects in the region is insignificant and due to the lack of a coherent regional innovation systems, inadequate enforcement of obligations by the authorities in the field of innovation support. The first priority in the Republic of North Ossetia-Alania is the creation of an adequate institutional environment of innovative development, scientific development cooperation mechanisms, business and government, as well as creation of favorable conditions for investors, allowing to neutralize the risks of innovation.