Institutional directions of innovative development of economy

The analysis of factors and sources of innovative economic development, parameters and criteria, the impact of science and the human factor are very relevant, because the degree of development of science and scientific and intellectual resources increase the effectiveness of the economy and reduce production costs. The dynamics of the economy should be determined by the parameters of growth. Innovative capabilities of the region are estimated by the level and index of human capital development. The relevant investment climate contributes to the improvement of innovative activity of entrepreneurs and activates the whole process of reproduction based on innovation. It should be emphasized that the transition to innovative development is not limited to quantitative indicators. Currently, the main indicators are the quality of economic development. The key qualitative indicators of innovative development are: the quality of life of the population, political stability, the formation of innovative infrastructure, innovative activity and creative thinking. In order to improve the management of structural reorganization in the country, it is necessary to achieve a technological balance of economic sectors and to restructure a number of enterprises on the basis of differentiation. Enterprises in need of restructuring can be classified according to three criteria: a) bankrupt, producing uncompetitive, unprofitable products; b) production of defense industries and import-substituting production; C) enterprises with potential, but in a state of decline in production. In the analysis of factors and sources of innovative economic development, parameters and criteria, the impact of science and the human factor are very relevant, because the degree of development of science and scientific and intellectual resources increase the effectiveness of the economy and reduce production costs.