Year of Graduation
Estimation of Innovative Potential in Russian Regions
The current research investigates factors influencing innovation potential of Russian Federation regions. The field under consideration is studied by a plenty of economists for the reason that innovations become extremely valuable in major life spheres nowadays. The basis for the analysis of innovation potential is presented by two methods: the first one is determining of the key factors and construction of an aggregate integral index (Zhitz, 2000) and the second one is the regression analysis (Kanaeva and Untura, 2016). The paper builds fixed effects regression model for the panel data set. One of the striking features of the work concerns the use of the principal component analysis in order to deal with big macroeconomic data and choose factors more deeply on the basis of individual indices. It is revealed that the current innovation potential level which is presented by internal technological innovations expenditures depends on the results of innovation activity of the last year. According to the forecast for the next period, innovation potential will grow in 2015.