Methodological Aspects of the Regional Innovative Development Evaluation with Focus on Investment Flows

Abstract

Background/Objectives: The article considers basic approaches to using various indicators of innovative development to evaluate the achievement of objectives set by the regional authorities. Methods: Having analyzed international and domestic practices, the authors proposed an original method for evaluation of innovative development of the federal subjects of Russia regarding the investment flows to the region. Findings: The authors examined the dependence between indicators of innovative development and investments in fixed capital at the regional level. The article proposes a matrix of the regions distribution according to the ratio of innovative development and investment support of the region. The authors developed the indicator of investment support of the region’s innovative development and estimated its threshold value. The proposed methodology was used to rank the subjects of the Siberian Federal District. Application/Improvements: The findings of the study can be used by regional authorities to monitor innovation and investment development of the region, as well as to improve tools and methods of the implemented innovative and investments policies.