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The aim of this article is to study the innovation process and the key determinants of innovation activity development in Russian regions. The theory of open innovation by H. Chesbrough and threesector model of innovative economy by P.M. Romer constitute the theoretical platform of the process approach to the development of innovative activity in the region offered by the author. The study revealed that the regions of Russia are divided into two types: (1) creating their own innovation and attracting innovation from the outside; (2) attracting new technologies from the outside. The key determinants of innovative development of Russian regions are human capital and investments in fixed capital. Innovative activity in the region should be considered as a set of processes: the creation of new knowledge, creation of new technologies and means of production, and production of innovative products. Taking these facts into consideration, the process model of development of innovation activity in the regions, the legitimacy of which is confirmed by empirical evidence is proposed. The consequences of the process model are discussed in the conclusion.

About the authors

G. A. Khmeleva

the Dept. of Economics, Samara State University, Samara, 443011, Russian Federation

Author for correspondence.


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