Influence of external and internal factors on the innovative development of the economy

The article substantiates the conclusion that the effectiveness of public administration directly depends on the accounting and competent use of external and internal factors. In practical terms, this makes it possible successfully solve many problems of innovative development at the level of individual industries and the country's economy as a whole. For the effective economic development of the Russian economy, it is necessary timely determine the features of Kondratyev's cycles. They will become the basis for enhancing innovation in specific sectors of the economy in the most favorable time periods for their development.