Prospects of innovative model of economic development of Russia

Innovative development of the economy is a means of achieving competitive advantages in the global economy. What does the innovation model of economic development imply? First of all, it is a high concentration of production, scientific and technical knowledge and new technologies. Since the second half of 2012, a slowdown in the growth of the Russian economy has been recorded, and, according to various forecasts, in the coming years the rates will not increase, but on the contrary, the lag behind the growth of the world economy will grow. The key reason for this situation is the non-functioning of the in- novation system, in contrast to the usual raw material model of development. The innovation sector of the Russian economy is clearly lagging behind the sectors of developed and even some developing countries (fig.1) [1]

Guided by the above data, we conclude that it is necessary to stimulate organizations to innovate, and the economically active population to carry out research and development. At the moment there is a need for the formation of modern guidelines on the innovative development of society and the economy, and then the financial and organizational support for these changes.

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Fig. 1. The total level of innovation activity of organizations (2016 y.)

In the conditions of the modern Russian    termine the influence of current trends in the economy, the most important task is to de-    world economy, threats to economic growth and reserves for solving emerging problems. The questions that remain are topical: on what should the new model of economic growth be based and which industries are competitive.

According to the strategy of innovative development of the Russian Federation, for the period up to 2020 there are three possible options for the innovative development of the Russian economy:

• 1.    Inertial technological development, which does not imply the stimulation of innovative development, in which policy will focus on maintaining macroeconomic stability with low spending on science, innovation, and attracting investment in the development of human capital.

• 2.    Catching up development, in which the re-equipment of the economy will be based on imported technologies, as well as local stimulation of the development of Russian developments.

• 3.    Achievement of leadership in leading scientific and technical sectors and fundamental research, during which the research and development sector will be modernized, and efforts will be concentrated on the most promising scientific and technological areas. This development option is the most expensive and risky.

According to the strategy developed by the Government of the Russian Federation, the best option for Russia is the development option with elements of leadership in some segments of the economy.

There are several necessary measures that need to be taken in order to optimize the innovation system of the Russian economy:

• 1.    Strengthening global competition in the accelerated technological development of the world economy.

• 2.    Investing in priority areas of innovation development, namely: development of nano-and biotechnologies, chemistry and petrochemistry, development of medical technologies, electronics and communications, information technologies, etc. [2].

• 3.    The growing importance of human capital as a major factor in economic development.

• 4.    Exhaustion of the potential of the raw materials export model of economic development.

The first measure is related to the fact that it is not always appropriate to talk about successful competition, comparing Russian producers with some foreign colleagues. The main reason for this situation is insufficient automation of the production process, which implies the need to revise the approach to production activities.

Investments in priority innovation areas are necessary because the transition of our country's economy to an innovative path of development requires the attraction and investment of investment resources. The greater the proportion of spending on these areas, the more opportunities for economic development.

As for the increasing role of human capital, it can be said that a highly skilled workforce is an object of intensified struggle in the world market. Consequently, the quality of training is one of the key aspects of an innovative economy. It is proposed to improve the research and educational activities of educational institutions. It is very important to fully realize the potential of personnel, providing competitive (with other countries) wages.

The need to exhaust the potential of the export-raw material development model is that at the moment the Russian economy is highly sensitive to the fall in world prices for oil and commodities, as well as to the general deterioration in world dynamics. A country with large reserves of various natural resources, like Russia, is often predetermined in its development by a vector of raw materials orientation, and the best that it can afford is a catch-up type of development based on the use and copying of advanced foreign technologies. However, developed countries are currently implementing a model of "smart" economy, the basis of which are, among other things, information technologies, algorithms, opportunities [3].

Consequently, Russia will have to integrate the strategy of the innovation model of economic development and growth, which can not only ensure the development of significant resources, but also commercially implement high-tech projects. This strategy should be integrated and systemic, including structural, industrial, scientific and technical, investment policy as the necessary prerequi- sites for ensuring the development of the innovation system of the economy. Building an innovative society in Russia should certainly be based on taking into account the criteria set by the “smart” economy. In the future such criteria should be created by our coun try.