Year of Graduation
Innovative Factors of Regional Development
Nowadays innovations are considered as a one of the most significant directions of country’ socio-economic sphere development, because it has a major impact on the national economy growth as well as on the quality and standard of living of its residents. It is therefore necessary to understand what promotes the growth of the national economy innovative environment. Moreover, it is necessary to take measures to raise the level of innovation activity in the region of a particular country as an integral part of the whole national economy structure. In this study we will examine the relationship between several factors that may affect the growth of innovation on the example of Volga Federal District. By using the multiple regression model we will estimate panel data over the period 2005 to 2014. There will be made an attempt to find out what is a key indicator of economic growth in the field of innovation: the material component or the human potential.