Institutional Environment of the Information Economy: A Method for Assessing the Contribution to the Socio-Economic Development

The research examines the role of institutional factors in the development of the information economy and its impact on economic growth. The central practical thesis of the study posits that institutional factors, including public expenditures on national endeavors, the efficacy of the judiciary, law enforcement, and security services, the efficiency of public administration and regulatory frameworks, the protection of property rights, the prevalence of corruption, and the overall business climate play a pivotal role in the development of the information economy and exert a significant influence on economic growth, in addition to the conventional drivers of economic growth, such as advancements in the number of Internet users, e-government and scientific innovation. Based on the combination of different institutional indicators, the Aggregate Index of Institutional Development of the Republic of Belarus for 2002–2021 is created and its impact on the country’s information economy is assessed. The author’s methodological contribution lies in developing a multiple regression model to identify the institutional factors that most strongly influence economic growth in the context of the information economy. The study’s findings can contribute to macroeconomic policymaking by providing a systematic and comprehensive approach to understanding the complex interactions between institutions and economic outcomes.