Abstract
The issue of the innovative economic sector development and innovation management is discussed in this article. In order to ensure the competent management of the implementation of the innovation model of the Russian economy development, first of all it is necessary to understand the essence and content of the concepts that characterize this process. To date, as the analysis of scientific publications shows, scientists and practitioners are far from always having the same understanding of the content of such concepts. This explains the author’s attempt to define the terms that describe the process of innovative economic development and their impact on the economic processes. The official documents and scientific papers present various interpretations of the concepts of ‘innovative development,’ ‘innovative economic sector,’ ‘innovation processes.’
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