AUTHORS: Olga P. Smirnova, Oleg M. Barbakov, Alena O. Ponomareva, Marina V. Vinogradova

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ABSTRACT: Stable development of industries and regions of Russia is impossible without the development of an innovative economy. The paper shows that the introduction of innovations, according to global trends, is one of the key factors for increasing competitiveness. Some conceptual provisions of modern regional economic science on the problems of innovative development have been considered. An assessment of innovation activity in the regions of Russia has been carried out, and factors affecting innovation activity have been identified. The paper has developed a factor econometric model of innovations. The dynamics of such indicators as the output of innovative products and the costs of technological innovations have been analyzed. As a result of the study, the influence of expenditures on technological innovations on product output with regard to various time lags has been identified.

KEYWORDS: - innovation activity, modeling, regression analysis, regional development

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WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 16, 2019, Art. #45, pp. 403-413


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