The reasearch focuses on the theoretical aspects of competitiveness in the economy and the methodology of its assessment. The following issues are also covered: the institutional system role in competitiveness support, institutional system subsystems and certain components. The research offers a specialised focus on the analysis of a number of key legal and regulatory documents that determine the shape of the institutional environment and ensure the formation and functioning of the organisational and managerial mechanism of Russia"s innovative development, at whose core is the national innovative system.