Modern Trends and Mechanisms of Regional Innovative Development: Conceptual Approaches, International Practices, and Growth Prospects

At present, innovative development is a strategic choice of the Russian Federation in the system of global competition necessary to achieve sustainable socio-economic development of the country and its regions in the world economy. The intensification of globalization processes and integration of the subjects of the Federation into the international division of labor have shown the inability of most of them to be competitive, which is associated with the weak development of innovation potential. The problems of innovation activity are considered in detail in the Strategy of Economic Security of the Russian Federation for the period up to 2030. The aspect of innovation activity jeopardizes economic stability and hinders economic growth. In the context of modern challenges of the world economy, innovation plays a key role in ensuring sustainable socio-economic development of the country and its regions. The development of innovation potential and the formation of innovation economy in the region, as the experience of developed countries of the world shows, depend on a number of prerequisites of fundamental nature. First of all, we are talking about the establishment of an appropriate institutional regime that ensures the interest in the effective use of existing and new knowledge in the development of innovation activities. A high level of innovation potential development is possible only if science is an integral part of the real sector of the economy and a direct productive force of the economy. The study identified specific steps to stimulate innovative progress in the regions of the Russian Federation.