Statistical Research of the Relationship Between Innovations and Standards of Living in Russia

Innovations play a very important role in the modern world, because they improve living standards not only on an individual level, extending the range of goods and services, but also globally. Innovations contribute not only to the economic growth, which is one of the main objects of all modern states, but also they increase the welfare indicators of a country (improve the environment, increase the defense capability, simplify means of transportation and communication and etc.). Such a huge range of influence determines the relevance of the study in the modern world. Increasing attention to the indicator of living standards in recent years is caused by the fact that it is an indicator of the total development of the country. Thus, the study of living standards in Russia will allow to identify the most problematic areas, and innovations can serve as a tool of their development. Exactly this way the goal of the study was formed. Resulting the research, the relationship between innovations and standards of living in Russia was studied. Using regression analysis of panel data, it was found out that innovations significantly affect the welfare in Russia. It was also shown that in conjunction with the development of fundamental science and the sphere of information and communication technologies, innovations will lead to a greater increase in living standards.