Effectiveness of financial support for the resource base of innovative development in regions during crisis

Abstract

Overcoming the crisis consequences in the Russian economy objectively depends on the speed of introducing the latest technologies and equipment into the economy. The transfer of production equipment to an innovative type of development requires use of modern information systems, all types of resources, materials, and better human capital. However, the key criterion in the success of the innovative development of the regions is the effectiveness of financial security. This is the subject of this article. The analysis of the effectiveness of innovation financing of innovative activity by regions of two federal districts: Central and North-Western, which in fact are the leading districts in the country and account for the bulk of the produced innovative products and the gross regional product. Calculations were made based on data from official statistical compilations. The performed researches showed that in this period many regions of the listed districts achieved the maximum results of the cost effectiveness for technological innovations for the analyzed period. However, the general trend of changing the values of efficiency, starting from 2012, does not allow characterizing as rapidly growing.