Fokeev M.A.Ural Federal University named after the First President of Russia B.N. Yeltsin, Yekaterinburg, Russian Federation fokeev.maxim@ya.ru
Subject The research examines the profiles of innovation development of Russian regions. Objectives The aim is to generalize the experience of regions when implementing the strategy of innovation economic development and creating conditions for the economy of knowledge formation. Methods The research draws on principles of systems approach. Its major methods are econometric modeling and logical analysis. Results I summarized statistical information and built an econometric model, where the rating of innovation development of Russian regions is used as an explanatory variable. The interpretation of obtained model enables to highlight key factors having the biggest impact on creating the conditions for innovation economy development in the region. The cause-and-effect analysis helps classify econometric factors by their influence on innovation economy development. Conclusions and Relevance Innovative manufacturing requires concentration of efforts of the government, business and scientific community. The sequence of actions and interdependence between stakeholders can help regions to build a long-term strategy of their development and support innovative sectors of economy. Significant parameters in the econometric model should be a basis of the strategy.
Keywords: regional economy, innovation, econometric modeling, strategy, innovative development
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