Analysis of Socio-Economic Conditions for the Formation of the Innovative Potential of the Region (Kaluga Region)

In: Mir ėkonomiki i upravelenija: World of economics and management, Volume 23, Issue 1, p. 5-15

Abstract

The study focuses on the current state of the region's economy, determining the role of its innovative potential in ensuring a high level of sustainability and competitiveness. The article provides a systematic analysis of the main factors shaping the innovation potential of the Kaluga region, justifies limiting trends, including: uncertainty in the economic situation, investment risks, a high percentage of commercial credit and a lack of own financial resources. This paper evaluates the system-forming sectors and industries, the level of investment activity and substantiates their impact on increasing the innovation potential of the Kaluga region. The study reveals the mechanism of providing resources for innovation activities based on the program-targeted approach of the implemented state programs "Innovative development and modernization of the economy", "Development of entrepreneurship and innovation in the Kaluga region", contributing to the output, increasing attractiveness for investors, allowing to ensure high values of socio-economic development in the ranking among the regions of the Russian Federation. Based on the component approach, a rating assessment was carried out that characterizes the effectiveness of the implementation of the innovative potential of the Kaluga region. The rating is based on a system of indicators of socio-economic conditions of innovation activity, scientific and technical potential, the level of innovation and export activity, the quality of regional innovation policy.