Economics and management of national economy

Innovative development of the Russian economy: formation of support mechanism based on the world’s experience

Economic Annals-XXI

Economic Annals-ХХI: Volume 180, Issue 11-12, Pages: 97-109

Citation information:
Bessonova, E., & Battalov, R. (2019). Innovative development of the Russian economy: formation of support mechanism based on the world’s experience. Economic Annals-XXI, 180(11-12), 97-109. doi: https://doi.org/10.21003/ea.V180-11

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Elena Bessonova
D.Sc. (Economics),
Professor,
Faculty of Economics and Management,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russia
bessonowa_new@mail.ru
ORCID ID: https://orcid.org/0000-0002-3884-5725

Rustam Battalov
PhD Student (Economics),
Senior Lecturer,
Faculty of Economics,
Sterlitamak Branch of Bashkir State University
49 Lenin Ave., Sterlitamak, Bashkortostan, 453109, Russia
r.m.battalov@strbsu.ru
ORCID ID: https://orcid.org/0000-0002-3711-9078

Innovative development of the Russian economy: formation of support mechanism based on the world’s experience

Abstract. The authors analyze the features of innovative development in Russia and foreign countries, discuss the experience of building an innovation system, consider its areas that need more in-depth research, as well as some features of its formation and adaptation to the rapidly changing needs of scientific and technological progress in order to achieve its maximum positive impact on the socio-economic system. A special attention is paid to the conceptual approaches to support innovation for the formulation and implementation of the government innovation policy, as well as to the current state of the innovative development, assessing its bottlenecks from one side and prospects – from the other.

The analysis has shown that presently, all the main elements of the innovation system that exist in the foreign countries are represented in Russia as well, and the volume of the state funding for research and development tends to grow. The main problem is that the implemented measures of the state support for the innovative development do not entail tangible results, including structural changes in the economy. Especially if comparing with the countries-leaders in innovation who exceed Russia in many times.

The key problems in the innovative development of the Russian economy which must be addressed in the actualized government innovation policy we summarize as following: underestimating the role of science and innovation in achieving national economic security and increasing the country’s competitiveness; low efficiency of the current system of government control of innovative development; lack of an integrated innovation strategy; low level of research staff potential; imbalances in levels of regional development; imbalance between the level of education and the level of labour force qualification; low innovation indicators and demand for innovation in the business environment; problems in the field of innovation legislation; insufficient financing of activities in the field of scientific research and development; low level of development of technology commercialization process.

Keywords: Innovation; Innovation System; Innovative Activities; Innovative Development; Innovation Efforts

JEL Classification: O31; O32; O38

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

DOI: https://doi.org/10.21003/ea.V180-11

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Received 10.10.2019
Received in revised form 29.10.2019
Accepted 5.11.2019
Available online 30.12.2019

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