INNOVATION AS THE BASIS FOR STIMULATING ECONOMIC DEVELOPMENT

In the context of a protracted economic crisis and a significant economic backlog, one of the few remaining opportunities for the country’s development is innovation. For Russia, the shift from raw material orientation to new technologies and development of innovative products in order to ensure the competitiveness in world markets still remains an urgent task. This is particularly important since the country has enormous natural resources and significant, unfulfilled potential in this area. It is necessary to support infrastructural changes, which are an important element in enhancing competitiveness, ensuring import substitution, and improving the quality of life of the population. The study analyzes the current state of the economies of the world and the Russian Federation in the prism of changes related to the transitions of technological cycles that form the basis for economic growth, analyzes factors that affect innovations that ensure an increase in economic development. There is a need to ensure considerable state support for innovation through targeted investments in the most promising development areas. The discriminant analysis is used as a tool for analyzing the effects of factors on the development of economies, which allows setting the purpose of the study as the most significant factors that affect the development of innovation in the Russian Federation. The study provides a rationale that is critical for innovative development in the Russian Feder ation: labor productivity, internal R&D costs (in GDP), costs of technological innovations and investments aimed at the reconstruction and modernization of equipment.


Introduction
Many researchers are devoted to the impact of innovation on economic development. Thus, Masiello and Slater (2012) note that the world economy is in a state of stagnation, fiscal incentives are no longer effective and the development of macroeconomic processes is only possible through innovations. Thompson and Stam (2021) study in detail the impact of SME innovativeness and state that the hypothesis that there is a universal program to stimulate innovation and proportional growth of macroeconomic processes of the economy in accordance with it is erroneous. At the same time, the authors argue that the availability of technology is not a determining factor in the development and prosperity of innovation and the economy. As a marker indicator, many researchers often suggest choosing the indicators of SME innovative activity, since on the one hand, SMEs are more influenced by macroeconomic shocks and on the other -they serve the basis for the development of the domestic economy of many states (Barnagyan, 2017;Dzhukha et al., 2017). It is quite interesting to note the opinion of Thompson and Steam (2021) that there are studies that suggest that innovation is influenced by supply stimulation and the availability of technologies, but there are alternative studies that argue that the preferences and incomes of the population provide for innovation development. In this aspect, the study of factors determining the development of innovation in the Russian Federation is beyond any doubt.

Problem Statement
The analysis and assessment of the factors influencing innovations allows revealing relationships of cause and effect of the lag of the state's economy and defining the need for measures of state support of innovations due to target investments into the most perspective development areas. The changes connected with transitions from one technological way to another complicate the development of the world economy and serve the prerequisites of many economic crises. The complexity of innovative evolution from the origin of the concept of ideas to the moment when it enters the market and its commercialization is caused by poorly predicted result and requires considerable financing. In this context, the definition of priority spheres of financing and their stimulation due to innovations plays a key role, thus defining the need to study the factors influencing the innovative development to a greater extend.

Research Questions
The object of the study is the analysis of statistical data of the IMF and Goskomstat of the Russian

Purpose of the Study
The purpose of the study is to determine the most significant factors influencing the development of innovations in the Russian Federation. https://doi.org/10.15405/epsbs.2021.11.191 Corresponding Author: Tatyana Yurievna Sinyuk Selection and peer-review under

Research Methods
The research methods include the multiple discriminant analysis with the discriminant function: d = b1х1 + b2х2 + ... + bnхn + а that allow accurately grouping the factors with the assessment of their extent of influence on GDP changes. SGWin is used as the means of program support.

Findings
The concept of innovation, which ensures continuous development of companies due to changes that ensure the adaptation of a control system to developing environmental conditions, is closely connected with the concept of technocenosis, which is the artificial system stimulating new branches of the economy due to new knowledge and progressive engineering and scientific decisions. Technological innovations are one of the reasons of nonequilibrium state of the economy providing its development (Brian, 2015). The emergence of new technologies is a continuous incentive to transformations, thus generating new uncertainty. Now, there is a transition from the V-shaped technological setup in the world economy : computers, low-tonnage chemistry, telecommunications, electronics, the Internet to VI and VII (2010-2019 -…): biotechnologies, nanotechnologies, living being design, investments in people, new environmental management, robotics, new medicine, production of socio-humanistic knowledge and technologies, design of the future and its management (technologies of assembly and destruction of social subjects) (Gavayler, 2018;Glazyev, 2016;Zhironkin & Gasanov, 2014).
These transformations are connected with complications in the development of the world economy that entails new economic crises. It is known that at the beginning of each production cycle the breakthrough is provided at the expense of front lines in the technological relation of the industries.
Besides, it is necessary to keep in mind that the transitions to the next setup are ensured by appropriate resources. Many researchers note a special role of information technologies in the development of modern economy, however they poorly stimulate the involvement of some resources (which should be in sufficient amount) for use in breakthrough high technologies of the formed setups.
Unfortunately, lag in the development of STP achievements led to the fact that the Russian Federation mostly remains the buyer of perspective technologies and new types of products of foreign competitors. Nevertheless, the obsolescence of capital during the crisis forces to draw attention to new technologies, attracting necessary investments for ensuring the growth of the economy.
The existence of such structure as Skolkovo where huge amounts of money are "pumped" into cannot be the basis for competitiveness enhancement since the participation of globally known foreign companies in this innovative center only leads to the "leakage" of progressive productive ideas of domestic developers thus ensuring the profitability of foreign firms, but not improving the competitiveness of the Russian economy. In this situation it is more reasonable to lean on the scientific bases developed in the Novosibirsk Campus, Zelenograd, MIPT in Dolgoprudny, large scientific centers in other cities where there is a link between scientific centers, universities and advanced enterprises. The technological setup ensures S-shaped characteristic of a production cycle which is completed at the last stage with the development crisis. https://doi.org/10.15405/epsbs.2021.11.191 Corresponding Author: Tatyana Yurievna Sinyuk Selection and peer-review under  The main phases of the innovative process include the following stages: formation of a conceptual idea → development of a product (technology) → mass disposal of innovation for the purpose of obtaining a commercial benefit. The first two stages generally include costs, and they account to 70 % of all costs of a new product. Profit is obtained only in the course of replication required in the market of the innovative product.
The complexity is that the efficiency of the first two stages requires decent financial support of the work of scientists, designers and technologists, but business is not ready to invest a lot for these purposes (in fact "to freeze") in view of big risks connected with the expected result which is poorly forecasted.
As more than 70 % of organizations providing the scientific and technical capacity of the Russian Federation is in state property, the state has to be the main source of investments into innovations.  https://doi.org/10.15405/epsbs.2021.11.191 Corresponding Author: Tatyana Yurievna Sinyuk Selection and peer-review under    Notes: 1. Here, the capital-labor ratio is calculated fraction from the division of the quantum index of fixed assets of year t to year (t-1) and the quantum index of total labor costs of year t to year (t-1) in comparable prices.
2. The capital productivity ratio is calculated as the fraction from the division of the quantum index. 1458 In order to determine the significance of influences of the given indicators, let us use multiple discriminant analysis, which is an alternative to the regression analysis, when the dependent variable is not a quantitative, but a nominal variable. The analysis uses the following discriminant function: d = b1х1 + b2х2 + ... + bnхn + а, where: x1 and xn -variables corresponding to the considered cases; b1-bn and a -coefficients to be evaluated by the discriminant analysis. Therefore, it is necessary to determine such coefficients so that the values of the discriminant function can be divided into groups with the maximum clarity. Figure 04 shows the summary obtained using SGWin.
Initial report of the method of principal components (MPC) (Compiled by the author) The figure  https: //doi.org/10.15405/epsbs.2021.11.191 Corresponding Author: Tatyana Yurievna Sinyuk Selection and peer-review under responsibility of the Organizing Committee of the conference eISSN:  1459 Figure 06 shows the projection of the studied factors.
Projection of studied factors into the space of the first three principal components (Compiled by the author)

Conclusion
The production cycles reflecting the GDP change of innovatively developed countries in dynamics are considered. The discriminant analysis is used as the tool to analyze the influence of factors on the development of economies. The study allows concluding that the following are the most important in ensuring the innovative development in the Russian Federation: labor productivity, internal R&D costs (in GDP), costs of technological innovations and investments directed to reconstruction and modernization of equipment.