Innovations and regional economic development in Russia
To be competitive in the global economy Russia needs in production innovative products. According to the Government of the Russian Federation the innovative socially oriented model of development is the main method of long-term development of the country. The data for research were taken from Russians Federal State Statistics Service and portal of the State support of innovative development of business. The main method of this research is a production function which was constructed for the Russian manufacturing. Labour, capital, infrastructure indices (included innovations) were evaluated. I investigate 9 years (from 2005 to 2014) and almost all Russian regions. The coefficients for the selected function were obtained using the correlation-regression analysis approach. The result is that the coefficient of innovation in logarithmic production function is 0,1 and it’s significant on the 1% level. One of the main factor except labor and capital is innovations that means that to increase manufacturing production in Russia the government should improve innovation infrastructure. And also two groups of regions were compared. The result is that regions with innovative clusters on their territory have a better economic indexes than regions without clusters.