How are the Difficulties of Financing Domestic Innovative Development Overcome?

Abstract

The relevance of the chosen topic related to the study of the processes of innovative development of the national economy is determined by the strategic role that innovations play in shaping a truly competitive market-type economy and the country’s exit from the deepest economic crisis that hit all sides of social life of Russian society. Crisis phenomena manifested itself in a sharp drop in the standard of living, absolute and relative impoverishment of the working people, and a decline in labor productivity. In the article, relying on foreign experience, types of modern institutional structures that have a significant influence on the functioning of various R&D models are identified. Six models of financing innovative projects are presented. Three models of forming the terms of the cycle for the development and implementation of innovations with the help of existing institutional entities are indicated for different countries.

Keywords

• innovation
• the real sector
• human development
• innovative rating
• financing research and development
• labor productivity