Influence Of Institutional Factors Of Innovative Development On Economic Security

Abstract

Both foreign and domestic scientists substantiated the need for transition from industrial economy to innovative economy in the late 1990’s. Implementation of innovations increases production efficiency, improves product quality, enables to withstand market competition and thereby ensure economic security. On the other hand, ensuring economic security is the basis for sustainable functioning and development. Thus, innovative development and economic security are interconnected. At present, the results of innovative development in Russia cannot be considered satisfactory in a number of indicators as compared with developed countries of the world level. The relevance of proposed article topic is justified by the need to improve state policy in the innovation sphere to ensure sustainable economy development and its protection from real and potential threats. In this regard, it is considered the state of innovative development of Russia in the system of the Global Innovation Index (GII). It is given comparative analysis of the levels of innovative development of Russia and the leading countries in the GII rating. Institutional factors influencing innovation activity and being threats to the economic security of Russia are analyzed in detail. The paper proposes possible solutions to raise the level of innovative activity that ensures the Russian economic security.

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Publisher

European Publisher

First Online

25.09.2021

Doi

10.15405/epsbs.2021.09.02.75

Online ISSN

2357-1330