Investments in Innovation and Fixed Capital in the Regions of Northwest Russia in Terms of Time

Abstract

The article analyzes the dynamics of investments in technological innovations and investments in fixed assets in the regions of northwest Russia on the basis of statistical data. The relationship between them is revealed in the time range, ensuring the growth of the gross domestic product. The conclusion is drawn that innovative activity is not an end in itself, but a means of solving specific social and economic problems. In one time period, changes in market demand and increased competition may require updating output, in another, with stable market demand and the possibility of market expansion, reorientation of resources for investment in fixed assets. There may be other reasons for investment in fixed assets, for example, replacement of worn-out equipment; there may also be cases of a simultaneous process of strengthening innovation and increasing investment in fixed assets. The article attempts to consider in an integral, generalized form for the regions of the northwest of Russia investments in fixed assets and technological innovations, and the distribution of resources between them.