Subject. The article is devoted to acceleration of economic development of Russia as a country in transition. Objectives. The study aims to present the author's vision of conceptual approaches to organization of the economy of the country and regions on an innovative basis, in conjunction with the improvement of center-regional relations as a factor of economic and political development. Methods. The methodological basis of the research is the problem consideration in the context of the theory of peripheral economy of capitalism, and works of domestic and foreign scientists on the development of conceptual foundations for accelerating the development of countries and their regions adapting to the world economy. Results. I substantiated and presented the concept of accelerated development as an alternative to the concepts of catch-up and advanced development, reflected in the literature. The paper unveils shortcomings of the models of center-regional relations tested in the post-Soviet period, which inhibit economic development, and offers a model of reconciliation of interests and a mechanism for transition to new center-regional relations. Conclusions. The scientific research results and proposed approaches to stimulating the acceleration of economic growth in Russia and its regions can be used in the updated process of reforms on economic and social development.
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