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This article analyzes the features of three groups of institutional factors: institutional and economic, institutional and political, and institutional and social.  Influencing these factors by means of sound state policy can initiate economic growth on an innovative basis. An assessment of existing institutional barriers that act as constraints to economic growth in Russia is provided in the paper. In addition, the role of institutional design in optimizing the state policy for stimulating accelerated development and structural reorganization of the main development institutions is defined and an algorithm for implementing institutional design and its direction is proposed.

INSTITUTIONAL DESIGN IN THE SYSTEM OF STATE POLICY MEASURES FOR STIMULATING ECONOMIC GROWTH IN RUSSIA IN THE CONTEXT OF GEOPOLITICAL CHALLENGES