Economics and management of national economy

Innovative and industrial development: specifics of interrelation

Economic Annals-XXI

Economic Annals-ХХI: Volume 156, Issue 1-2, Pages: 37-40

Citation information:
Vertakova, Yu., & Plotnikov, V. (2016). Innovative and industrial development: specifics of interrelation. Economic Annals-XXI, 156(1-2), 37-40. doi: https://doi.org/10.21003/ea.V156-0008

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Yulia Vertakova
D.Sc. (Economics),
Professor,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russian Federation
vertakova7@yandex.ru

Vladimir Plotnikov
D.Sc. (Economics),
Professor,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russian Federation
plotnikov2000@yandex.ru

Innovative and industrial development: specifics of interrelation

Abstract. An analysis of methods to overcome the crisis of 2008 and the dynamics of post-crisis development in countries around the world has shown that the less significant was the impact of the crisis on the economy, in which there is a more developed industrial sector. Accordingly, the actual problem is to stimulate industrial development. At the same time, the specificity of the current stage is that it requires not only quantitative changes in the volume and structure of industrial production, but also qualitative transformations. They are associated with the promotion of innovative technologies within production. The purpose of the article is to study the innovation and industrial development, as well as specific circumstances of such a process taking into account existing institutional constraints observed both in our country and abroad. The authors used theoretical and empirical methods to conduct the present research, in particular the methods of literature review, retrospective, logical and systematic analysis and statistical research methods. The article presents the results of the analysis of socio-economic and industrial development of countries in the post-crisis period in relation to the process of innovation development. The authors have found out that the developed industrial potential of innovation substantially contributes to sustainability of economy during a crisis. They have offered directions in which it is possible to stimulate innovative development of industry in the post-crisis period. The article deals with the specifics of the interrelation between of innovation processes and production potential of industries. It has been determined that industrial and innovation policies in the post-crisis period should be one of the priorities of state regulation of the economy. It is indicated that this regulation must be more responsive to the country-specific interrelation between innovation and industrial development. The authors have shown a need for the «new industrialization» a number of countries around the world, based on the introduction of innovative technologies into production.

Keywords: Industry; Innovation; Government Regulation of Economy; Socio-economic System

JEL Classification: L52; O32

DOI: https://doi.org/10.21003/ea.V156-0008

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Received 12.12.2015

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