Journal of Applied Economic Research
ISSN 2712-7435
Factors of Innovative Development of Industrial Region Firms on the Example of Nizhny Tagil
Vlasov S.V.
Abstract
The study is devoted to a comprehensive assessment of factors constraining and stimulating the innovative development of enterprises in present-day conditions. The purpose of the study is to identify the main factors that constrain and stimulate the innovative development of firms in present-day conditions, on the basis of the analysis of factors to establish the category of companies-the real carriers of innovation. The employed methods of research include questionnaires and comparison. Nizhny Tagil, as a town that is unique due to its socio-economic profile illustrates the problems of single–industry towns and patterns of the industrial region-the Sverdlovsk region, so it was taken as the research site. It has been concluded that the main carriers of innovation are not small businesses that take the collection and analysis of statistics superficially and do not take seriously long-term planning of their production activities and innovation. Carriers of innovations are large enterprises existing in the market for a long time, and having experience and necessary conditions for planning and implementing the measures of technical and technological modernization, for system introduction of innovations. The size of the enterprise and experience in the market depends on its innovative activity and innovative potential. At the same time, the main limiting factor for a long time has been the lack of companies' own funds and the unavailability of credit. As the main factors stimulating innovation, companies identify measures of state support, both financial and other forms. The results of the study have both theoretical and practical aspects and, above all, can become the basis for further adjustment of the priorities of innovation and investment policy of the region. In the short and medium term, the region needs to address the challenge of ensuring the availability of credit and the provision of state support measures that stimulate investment in the modernization of enterprises. The strategic objective for the long-term period is the removal of institutional restrictions blocking the development of the innovation economy at the regional level. The conclusions and proposals presented in the article are applicable to the work of federal, regional and municipal authorities, experts in the field of regional innovation and investment policy, for improvement of the investment climate.
Keywords
factors of innovative development; factors constraining innovation; innovative companies; industrial region; balanced investment and innovation policy; institutional constraints.
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About Authors
Vlasov Semen Vasilievich – Candidate, Institute of Economics, The Ural Branch of Russian Academy of Sciences, Ekaterinburg, Russia (620014, Ekaterinburg, Moskovskaya street, 29); Deputy Minister, Ministry of Agriculture and Consumer Market of the Sverdlovsk Region (620026, Ekaterinburg, Rosa Luxemburg street, 60); e-mail: vlasovsv81@gmail.com.
For citation
Vlasov S.V. Factors of Innovative Development of Industrial Region Firms on the Example of Nizhny Tagil. Bulletin of Ural Federal University. Series Economics and Management, 2019, Vol. 18, No. 6, 826–853. DOI: 10.15826/vestnik.2019.18.6.040.
Article info
Received November 1, 2019; Accepted November 30, 2019.
DOI: http://dx.doi.org/10.15826/vestnik.2019.18.6.040
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