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Institute of Trust and Institutional Problems in Building an Innovative Economy in Russia

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The article conducted a study of the issue of the institution of trust through the lens of innovative formation of the modern economy and established the significance of its role in management processes at various levels of economic aggregation. Building an effective model of the economy should be based on intellectual capital and the knowledge economy. Trust is inherited and actively developed at school and especially at universities. The institution of trust is one of the key factors determining the success of the entrepreneurial activities of business entities. It also creates a desire for innovation in enterprises. At the end of the 80s, mistrust between individuals and economic agents began to increase greatly in the USSR, which flowed into a significant decrease in the gross domestic product and well-being of citizens. The author's concept of the mechanism for developing, developing and managing customer trust on the basis of the digitalization mechanism has been formed. It is determined why a significant role in building trust in the company belongs to top management. Responsibility for developing the appropriate culture lies with the functional responsibility of management, and then is allocated to each employee. The study found that confidence and mistrust factors exist at all levels of interaction: both in the internal environment of the organization and in the market, society, the state and beyond. The study also analyzed the rating of the institution of trust in state institutions of individual countries of the world. We have it below average. Foreign publications have proved that the institution of trust and social capital as a whole lead to an increase in the growth rate of the economy.

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