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Regional Economics: Theory and Practice
 

A regional innovation system as a factor of sustainable development and competitiveness of a territory

Vol. 12, Iss. 35, SEPTEMBER 2014

Available online: 21 September 2014

Subject Heading: DEVELOPMENT OF AGRICULTURAL SECTOR

JEL Classification: 

Pages: 15-23

Modebadze N.P. Kabardino-Balkaria State Agricultural University named after V.M. Kokov, Nalchik, Russian Federation
n.madebadze@yandex.ru

Bifova B.Kh. Kabardino-Balkaria State Agricultural University named after V.M. Kokov, Nalchik, Russian Federation
bifova@mail.ru

The regionalization of innovation processes is a prerequisite for the formation of regional innovation system. The restructuring of the economy (particularly, of the depressed and stagnant ones) serves as the basis of an intensive development of the territory's economy, which solves many socio-economic problems. The modernization of the innovation-based economy is an important prerequisite for sustainable development and competitiveness of the regional economy. Thus, the regional innovation system must provide material and technical foundation of an innovation process, scientific and technical personnel training, innovation infrastructure and functioning of market of hi-tech and innovative products. It requires the shaping of the national innovation system, taking into account the specifics of the innovation processes in the regions, possible interregional integration during the innovation projects implementation. The paper emphasizes the necessity to coordinate the activities of regional innovation systems and provide their financial support. The authors underline that the national innovation system should play an important role in establishing of an interaction between the donor and recipient regions.

Keywords: Keywords: regional innovation system, sustainable development, territorial competitiveness

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