Abstract
The primary purpose of the research is to develop new scientific approaches to the implementation of joint innovation and investment projects in the framework of cooperation between developing countries on the example of the Republic of Kazakhstan and the Russian Federation. The methodology of the study included the use of a system of methods: the analytical and induction methods, hypothesis and the synthesis method. As part of the analytical and induction methods, the general theory of investment projects implemented by business entities of two or more countries was investigated. When considering the theory of investment and innovation projects, the following aspects were studied: basic fundamental attributes of project implementation; modelling of investment and innovation projects; modelling of the development of cross-country investment and innovation projects with the participation of two or more countries; factors influencing the effectiveness of cross-country investment and innovation projects. The study focused on the impact of investment and innovation projects on the economic growth of developing countries. Based on the results obtained using the analytical method, the general problems of intensification of investment projects were developed. Based on the identified problems, the method of hypothesis formulation was applied, which allowed formulating postulates on the application of several new methods of integration and economic cooperation of the states. The findings of the research allow in developing a new economic policy of cooperation of developing and, in some aspects, developed countries and applying it in practice in the conditions of increasing global competition.
Highlights
In the context of globalisation, most states choose the strategy of catching-up and advanced development
Practice shows that the economic development of any state, the achievement of qualitative rates of economic growth is possible only on the basis of the development of real sectors of the economy, where the primary vector is focused on production processes and the creation of products with high added value, able to compete in the global market space
The following methods can serve for the implementation of investment and innovation projects within the framework of economic cooperation between the Republic of Kazakhstan and the Russian Federation (Figure 6):
Summary
In the context of globalisation, most states choose the strategy of catching-up and advanced development. It is crucial for developing countries to ensure economic stability, maintain their positions in the domestic market, increase their competitive advantages and occupy a particular niche in the global market system (Competitiveness rating of the economies of the world 2017-2018) In this context, globalisation is considered as a set of the following trends: unification of economies of several countries; the emergence of large-scale crosscountry production and markets; dynamic growth in world trade; accelerating global scientific and technological progress and competition; formation of a single information space through the Internet and ITtechnologies. Taking into account the world trends of competition and scientific and technical progress, the transition to the fourth level of the scientific and technological revolution and the development of the production sector of the economy of a given state cannot be unipolar
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