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Mitrofanovа M., Aleksandrov D.

Real economy of the region: assessment and factors of innovative development

Keywords: real sector of the region's economy, factors for innovative development of real sector enterprises, innovative development strategy, financial sector of regional economy, gross regional product

The purpose of the study is to identify effective factors that contribute to reorientation of enterprises of the regional real economy to innovative development strategy. The research methods include: empirical data collection, economic and statistical analysis, data interpretation and conclusions. The result of the study is assessment of the factors hindering the innovative development of real economy, as well as identificating effective factors contributing to innovative development of enterprises of real economy sector of the Chuvash Republic. The practical significance of the study lies in the fact that the identified effective factors that contribute to innovative development of real economy enterprises will increase not only competitiveness of the economy by overcoming the technological gap, developed innovation system, but will ultimately contribute to consistent stability of the financial regional system as well, since the real sector of regional economy is the main source of economic growth. Effective functioning of the regional economy and increase of its financial stability depend to a large extent on rational organizing the functioning of the real economy enterprises.

References

  1. Ryabinina E.N., Mitrofanova M.Yu. Real’nyi sektor ekonomiki Chuvashskoi Respubliki: otsenka i faktory povysheniya ego finansovoi ustoichivosti[The real sector of the economy of the Chuvash Republic: assessment and factors to improve its financial stability]. Obshchestvo: politika, ekonomika i pravo, 2017,no. 12, pp. 92–96.
  2. O strategii sotsial’no-ekonomicheskogo razvitiya Chuvashskoi Respubliki do 2035 goda: proekt zakona Chuvashskoi Respubliki [On the strategy of socio-economic development of the Chuvash Republic until 2035: draft law of the Chuvash Republic]. Available at: http://regulations.cap.ru. (Accessed 30 November 2018).
  3. Territorial’nyi organ Federal’noi sluzhby gosudarstvennoi statistiki po Chuvashskoi Respublike (Chuvashstat) [Territorial body of the Federal state statistics service for the Chuvash Republic (Chuvashstat)]. Available at:http://www.chuvash.gks.ru (Accessed 30 November 2018).

About authors

Aleksandrov Dmitry
undergraduate, Chuvash State University, Russia, Cheboksary (bartsimpsonkrut@live.com)
Mitrofanova Marina
candidate of economics, finance, credit and economic security department associate professor, Chuvash State University, Russia, Cheboksary (marinamit_77@mail.ru)

Article link

Mitrofanovа M., Aleksandrov D. Real economy of the region: assessment and factors of innovative development [Electronic resource] // Oeconomia et Jus. – 2018. – №4. P. 16-20. – URL: http://oecomia-et-jus.ru/en/single/2018/4/3/.