Analysis of the State and Prospects of Innovative Development of the Russian Economy in Conditions of Its Modernization

N V Kalenskaya,O V Pratchenko

doi:10.5539/ass.v11n11p357

Abstract

Today, the modernization of the production structure – with the outline of high-tech industries, spheres ofscience and education as key growth factors – is one of the main conditions of sustainable development of everycountry, as well as of growth of public prosperity. However, to reach economic stability requires thedevelopment of the system research and assessment of innovative economic development, as far as exactly theimperative to study the prospects of innovative development determines modernization of the economy as awhole.The article presents the analysis of the state of innovative development of the Russian economy and the analysisof key performance indicators of innovative development. It also considers the industrial and regional aspects,and highlights the basic trends of development and the problems of further development.

Highlights

Transition to the innovative type of development by size, complexity and depth requires fundamental transformation of society in a totally new institutional conditions
To reach economic stability requires the development of the system research and assessment of innovative economic development, as far as exactly the imperative to study the prospects of innovative development determines modernization of the economy as a whole
According to the forecasts of the Ministry of Economic Development of the Russian Federation, exactly this strategy should reflect on the macroeconomic results at most, on the economic growth

Summary

Introduction

Transition to the innovative type of development by size, complexity and depth requires fundamental transformation of society in a totally new institutional conditions. The grounding methodology of such transition should focus on the long-term perspective, to start from the general principles of planning and forecasting, specifying them in relation to modern conditions, specifics of tasks and nature of the country objectives. As it is said in “Strategy of development of Russia 2020” (“Conception 2020”), the strategy of innovative development is the only realistic strategy of economic growth. Modernization – in the broad sense of the word – is interpreted by researchers as the synthesis of structural, technological and institutional changes in the national economy, aimed at improving its competitiveness in the domestic and international markets; movement from traditions to innovations. − involvement into global innovation processes, integration into the world community, the use of achievements of other countries for their own successful development and international cooperation in many economic spheres

Theory

Results

Findings

Conclusion