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ИД «Финансы и кредит»






Finance and Credit

The role of cluster approach in the financial support for innovative development

Vol. 30, Iss. 6, JUNE 2024

Received: 1 February 2024

Received in revised form: 15 February 2024

Accepted: 29 February 2024

Available online: 28 June 2024

Subject Heading: THEORY OF FINANCE

JEL Classification: H50, H60, O10, O38

Pages: 1250-1273


Viktoriya V. KOOKUEVA Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation


Subject. The article addresses the system of financial support for innovative development based on the cluster approach.
Objectives. The purpose is to develop methodological approaches to assessing the effectiveness of financial support for innovative development at the expense of public funds, using the cluster and correlation and regression analysis.
Methods. The study applies the cluster and correlation and regression analysis, methods of horizontal and vertical analysis, method of grouping, and others.
Results. I investigated the role and operating results of innovation clusters, the government programme aimed at innovative development, assessed the impact of program financing on indicators of economic and innovative development and the expediency of the cluster approach. I identified three clusters based on such factors as the proportion of organizations that carried out technological innovations and the proportion of innovative goods, works, and services in the total volume of shipped goods, performed works, and rendered services. I obtained a two-factor model of relationship between GRP and the volume of innovative products, and the number of researchers with an academic degree.
Conclusions. The paper proved that using the cluster approach enables to approach positive results of State programmes and national projects implementation.

Keywords: cluster, innovative development, financial support, correlation and regression analysis, government programme


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June 2024