Modelling Economic Growth Based on Factors of Innovation Production Potential Development

  • Authors

    • Elena Derunova
    • Sergey Andryushchenko
    • Vladimir Derunov
    2018-12-03
    https://doi.org/10.14419/ijet.v7i4.38.24334
  • Innovations, Economic Growth, Solow Model, Regional Differentiation, Industrial and Agricultural Production, Saving Rate, Labor Productivity, Investment Volume.
  • The Russian economic growth is associated with the increase in the competitive advantages of the domestic industry and the material sector of economy, including agriculture. The article studies the factors that have positive impact on the economic development and growth, as well as those that restrain these processes. The problem of assessing the need in innovative activity of economic sectors is actualized taking into account the differences of Russian regions in terms of agricultural productivity. The use of the imitations and innovations’ theory and methodological instruments of production functions’ models is substantiated. Thus, the Solow model is studied, and the improvement of the model, including the funds’ introduction delay when the optimal accumulation rates are equal to the elasticity coefficients by funds, is shown. The factors that include various economic growth models: volumes of capital, physical and intellectual labor, labor productivity, the production returns rate, the scientific and technological progress rate, the population growth rate, the consumer demand, production structure, institutional factors, and saving rates, are studied. It is proved that the study of neoclassical models of the economic growth shows their incomplete adequacy taking into account all differentiating factors, competitive processes and differentiating branch structures of economy. In the work, the hypothesis of the interrelationship of the saving rate, labor productivity and the volume of investments in Russia is mathematically proven taking into account the differentiation of Russian regions and peculiarities of statistical accounting.

     

     

  • References

    1. [1] Acemoglu D, Aghion P, Zilibotti F (2006), Distance to frontier, selection, and economic growth. Journal of the European Economic Association 4(1), 37–74.

      [2] Dzhumaeva RA, Mukhutdinova TZ (2012), Upravleniye chelovecheskim kapitalom – strategicheskim faktorom razvitiya innovatsionnoy khozyaystvennoy sistemy [Managing human capital as a strategic factor in the development of the innovative economic system]. Bulletin of Kazan Technological University, 2, 84-88.

      [3] Belousov DR (2007), O polozhenii v rossiyskoy ekonomike [On the situation in the Russian economy]. Problems of Forecasting, 3, 21-41.

      [4] Mansurova T (2007), Spetsifika razvitiya syryevogo sektora v rossiyskoy ekonomike [Specificity of the development of the raw materials sector in the Russian economy]. Bulletin of the Kazan Technological University, 5, 189-194.

      [5] Sistema natsionalnykh schetov [System of national accounts], Russian Statistical Yearbook (2017). Moscow, Stat.collection Rosstat, 258-311.

      [6] Derunova E, Firsova A, Vavilina A et al (2014), The study of the dynamics of innovative development of economy on the endogenous growth through multi-sector extension of the Solow model. Biosciences Biotechnology Research Asia, 11(3), 1581-1589.

      [7] Kolemaev VV (2002), Matematicheskaya ekonomika [Mathematical Economics]. Moscow: Unity-Dana.

      [8] Tsaregorodtsev EI (2014), Problemy otsenki innovatsionnoy deyatelnosti regiona [Problems of assessing the innovation activity of the region]. Economics and Management, 2(111), 89-94.

      [9] Zhulanov EE (2014), Modelirovaniye razvitiya natsionalnoy sotsialno-ekonomicheskoy sistemy pod vliyaniyem regulirovaniya usloviy vneshneekonomicheskoy deyatelnosti regionalnoy promyshlennosti [Modeling the development of the national socio-economic system as influenced by regulation of the conditions of foreign economic activity of regional industry]. Economic and Humanities, 4(267), 95–104.

      [10] Zhuravleva GP, Smagina VV (2008), Ekonomicheskaya teoriya i politika rynochnoy sistemy khozyaystvovaniya [Economic theory and policy of the market system of management]. Moscow: Finance and Statistics.

      [11] Derunova E, Semenov A (2013), Study of the problematic issues of the raw material orientation of the economy: the Dutch disease and its influence on innovative development. World Applied Sciences Journal, 25(9), 1295-1301.

      [12] Sidorovich AV (2007), Kurs ekonomicheskoy teorii: obshchiye osnovy ekonomicheskoy teorii. Mikroekonomika. Makroekonomika. Osnovy natsional'noy ekonomiki [The course of economic theory: the general foundations of economic theory. Microeconomics. Macroeconomics. Fundamentals of national economy], 3rd edition, Delo i Servis, Moscow.

      [13] Zhulanov EE (2012), Vliyaniye sotsialno-ekonomicheskoy asimmetrii regionov na rezultaty modelirovaniya ekonomicheskogo rosta [Impact of socio-economic asymmetry of regions on the results of economic growth modeling]. Economic Analysis: Theory and Practice, 24(279), 10–20.

  • Downloads

  • How to Cite

    Derunova, E., Andryushchenko, S., & Derunov, V. (2018). Modelling Economic Growth Based on Factors of Innovation Production Potential Development. International Journal of Engineering & Technology, 7(4.38), 112-114. https://doi.org/10.14419/ijet.v7i4.38.24334