Schepakin M.B.Published in:
Russian Journal of Innovation Economics
– Volume 10, Number 1 (January-March 2020)

JEL classification: O32, O33, O40, R11

Keywords: economic growth, innovative and cognitive resource, innovative development, modernization, production and industrial sphere, regional economy, restructuring, small business, structural component, sustainability of transformations


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Abstract:

Structural modernization transformations at the level of backbone industries of the region’s manufacturing sector are acquiring the properties of a tool that can integrate the resources and capabilities of different market participants in the development and implementation of innovative solutions even in an unstable economy. The factors determining the stability of the restructuring in the region’s economy in the face of growing contradictions and disagreements between resource owners and creators of innovative solutions that form the middle class and ensure the stability of the functioning of the Russian socio-economic system are determined. It is substantiated that the multiplier effect of structural modernization in the region is obtained with the active inclusion of the innovative and cognitive resource in the development and implementation of marketing strategies by the subjects of system-forming industries. A model of the restructuring of the region’s economy on the basis of various types of modernization, which reflects the relationship of factors influencing this process, is presented.

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