ИСТИНА

The paper discusses approaches to the interpretation of the knowledge economy and its quantitative measurement. Based on the adapted methodology of the World Bank, the dynamics of the knowledge economy conditions in the Russian regions in 1998-2012 years was estimated. The Russian knowledge index (RKI) can be used by regional administrations to adjust their strategies and monitor the conditions for the new economy formation, and the business community may use the index to assess the potential benefits from the placement of high-tech production and sales of innovative products in the leading regions. An original method for estimating the impact of the knowledge economy has offered in the article. It is based on the integration of regional ranks on existing Russian ratings for ecology, human capital, innovation and ICT development. The new Russian knowledge economy index helps to understand the advantages and disadvantages of the regional economies