INNOVATIVE POTENTIAL OF THE RUSSIAN FEDERATION: ESSENCE, CRITERIA OF EVALUATION AND WAYS OF DEVELOPMENT

The success of each country economy is determined by its innovative development. The intensification of innovative activity contributes to the recovery and further development of the economy, its comprehensive modernization, becoming an important tool for realizing competitive advantages. Despite the presence of a sufficiently high innovative potential, the Russian economy is characterized by a low level of development and use of the project methods by researchers and developers for R&D management, development of venture forms of financing and insurance of innovative risks, etc., which negatively affects the competitiveness of products and does not contribute to strengthening the positions of business entities at the markets of high-tech goods and intellectual services. Changing the current situation, ensuring the qualitative growth of the Russian economy is impossible without fundamental changes, consisting, first, in creating conditions for the mass emergence of new innovative systems in all sectors of the economy and their effective management. First, this applies to the knowledge economy, since the formation of an innovative economy means the transformation of human intellectual potential into a leading factor in economic growth and national competitiveness. As developed countries successfully develop a new model of the innovation system, new approaches are being form to explain the processes of innovative development of national economies. The purpose of the scientific article is to study the essence of innovative potential and its role in ensuring the competitiveness of the national economy in the face of technological changes, using the example of the Russian Federation. The subject of the research is the innovative potential of the country. The study based on the analysis and assessment of innovative potential, of studying and structuring of its elements in the context of ensuring the competitiveness of the national economy.

globalization, national economy, human development, technological changes, innovative potential, technologies, competitiveness, innovative policy, elements of innovative potential, innovative growth, countries rating, business competitiveness.

Motina A. A., Reshetko N. I., Safronova A. A. Innovative potential of the Russian Federation: essence, criteria of evaluation and ways of development. Business. Education. Law, 2020, no. 1, pp. 225–229. DOI: 10.25683/VOLBI.2020.50.131.