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The purpose of the research is to determine the stages of the development of information economy in modern Russia and to create a conceptual model of establishment and development of information economy in modern Russia.

The methodology of the research includes a systemic approach and the method of comparative analysis.

The authors conclude that despite large potential, Russia is still at the initial stage of information economy’s formation due to the influence of the determined institutional, structural, and investment barriers. At present, Russia is in the process of transition from the initial stage of information economy’s formation, which is related to the formation of technosphere (spheres of the ICT), to the middle stage, in which sociosphere (information society) is established. However, despite this, there is a large potential in the sphere of informatization of socio-economic system of Russia, which belongs to the final stage of the formation of information economy.

The created conceptual model of establishment and development of information economy in modern Russia showed structural disproportions in information economy of modern Russia. Insufficient technological support, which has resulted in ineffective state management during the formation of information economy at the initial stage, cannot be combined with independently formed social core, the process of creation of which, initiated by the state directive on transition to the middle stage of the formation of information economy, should have started this year. The authors offer practice-oriented recommendations for correction of the current strategy of information economy’s formation in modern Russia.