Subject The article discusses the perspective directions of the State and regions' economies change-over from a resource-dependent model to the innovation one. Objectives The paper aims to determine the most effective processes and mechanisms to transfer the economic activities to an innovative development path. Methods For the study, we used the economic-mathematical methods and techniques of correlation analysis. Results We have defined a quantitative functional response of investment in innovative development of the economic activities of the country's economy and highlighted the most promising directions in terms of innovation development. Conclusions and Relevance We conclude that, in spite of the Russian economy resource-oriented model, the transition to an innovative economy is objectively possible in the long term. This is possible within a few years, as evidenced by calculations of the measure of functional response of investment in innovation development of economic activities, taking into account the technical condition of the fixed assets. The results of the study can be used by researchers, professors and graduate students, and the authorities, including the regional ones, in predicting the innovation development of territories and identifying the most promising areas, providing a significant economic growth.
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