Influence of Regions Innovative and Investment Activity on Their Social-Economic Development: Results of an Empirical Study

Abstract

In this paper, the authors analyze methodological approaches to evaluation of innovative and investment activity and social-economic development of regions as well as subsequent methods to measure mutual influence of the factors. The obtained results allowed the authors to point out factors which influence regions' innovative and investment activity. The study discusses the experience of regional strategies' implementation through the example of the most innovatively active regions. The authors have carried out an empirical research related to creation of innovative territorial clusters. The methodology of mutual influences evaluation worked out during this study can be used to introduce changes into budget strategy and programs of regional innovative development and to evaluate how efficient is the implementation of cluster-based development programs.

DOI: 10.5901/mjss.2015.v6n3p347