Financing Innovation Development in the Context of Foreign Experience and Domestic Practice. Issue 7 (3rd July 2018)

• Record Type: Journal Article
• Authors: Tsatsulin, A.
• Is Part Of: Problems of economic transition. Volume 60:Issue 7(2018)
• Page Start: 578
• Page End: 596
• Publication Date: 2018-07-03
• Subjects: applied research -- basic research -- financing -- industrial economy -- industrialized nations -- innovation infrastructure -- innovation development -- labor productivity -- national innovation system -- R&D; Former Soviet republics -- Economic conditions -- Periodicals; Russia (Federation) -- Economic conditions -- Periodicals; Economic history; Russia (Federation); Soviet Union -- Former Soviet republics; Periodicals; 330.947
• DOI: 10.1080/10611991.2018.1551034
• Languages: English
• ISSNs: 1061-1991

Abstract

Abstract : The importance of innovation development is determined by the strategic role that true innovations play in the development of the state and the formation of a healthy, competitive economy. The organization of massive industrial production—which applies advanced technological achievements and science-intensive knowledge to form an infrastructure for innovation—should be a key component of the government's strategic policy to develop the national economy. In Russia, the infrastructure for innovation is less developed than other industrialized countries. This article considers the consequences of this underdevelopment, and proposes several ways of financing basic and applied research on the basis of foreign precedent and domestic practice.