Vologda, Russian Federation
Vologda, Russian Federation
Innovations can help Russia to achieve economic growth. However, the R&D sector that produces these innovations totally depends on funding. The article introduces an analysis of the trends in R&D funding in Russia. Regional funds for financial support of research, technical, and innovative activities seem to be an effective tool that will eventually contribute to the economic growth. The research objective was to identify the relationship between R&D funding and economic growth. A review of scientific publications revealed some theoretical aspects behind the effect of R&D costs on other indicators of economic growth. A cluster analysis made it possible to identify some regions where the relationship between R&D expenditures and indicators of economic growth are most pronounced. The study can help regional authorities to plan local budgets and achieve economic growth for their regions.
scientific and technological development, regional fund, gross regional product, innovative activity, per capita income, science financing, correlation coefficient, cluster analysis
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