Innovative Development of the Russian Economy in the Context of Global Economic and Political Realities

Abstract

Subject: The economic and social development of the state is largely determined by the current system of innovation and investment development. In this paper, we have studied these systems in Russia and abroad, determined their development in modern conditions, and identified external and internal factors of influence. Goals: Analyze the state of the world and Russian investment potential and prospects for its development. Methodology: The research is based on a dialectical approach, which uses system and institutional approaches, statistical method, comparative analysis, methods of tabular, and graphical data visualization. Results: The processes of development of the world and Russian investment system in modern conditions were studied. The prospects for innovative and investment development are defined. Conclusions: As a result of the study, it was determined that the Russian Federation needs a successfully developing system of innovative investment development that ensures financial independence from international economic influence. However, there are a number of problems that need to be solved at the level of Federal and regional legislative and Executive structures in order to create investment attractiveness and legal security for both Russian and international investors. The prospect of innovative development in Russia is possible in terms of economic structure based on raw material exports, due to the development of the industrial sector of the national economy, high technology, industry, aerospace, energy and information technology, and the development of agricultural production.