Scenario of Hi-Tech Growth of Innovative Economy in Modern Russia

Abstract

Purpose: The purpose of the paper is to determine the current scenario according to which innovative economy is developing in modern Russia and to develop recommendations for transition (or improvement) to scenario of hi-tech growth. Design/methodology/approach: The methodological research base includes structural analysis, correlation and regression analysis, scenario development, and graphical methods. Findings: The results of the performed analysis showed that in modern Russia (2019) innovative economy is implemented according to scenario of low-tech and medium-tech growth, which does not allow Russian entrepreneurship to conquer the leading positions in the world markets of hi-tech products and envisages delayed development as compared to developed countries. Implementation of innovations in entrepreneurship envisages its temporary competitive advantages, due to which effectiveness of innovative activities is low. Originality/value: For practical implementation of the Strategy of innovative development of the Russian Federation until 2020, adopted by the Decree of the Government of the Russian Federation dated December 8, 2011, No. 2227-p, it is offered to correct the development of innovative economy in Russia and ensure its implementation according to scenario of hi-tech growth. As the key factor of development of hi-tech production in Russia is expenditures for R&D it is recommended to increase them.