Evaluation Of Knowledge Effectiveness In The Real Economy

In the present investigation, we created a methodology for the evaluation of knowledge effectiveness of Russian economy. It helps us to assess the real level of readiness of Russian real economy to move to the Knowledge Economy. We evaluated the innovative development of the Russian economy using the following indices: the growth of inventive activity, the share of modern manufacturing and service sector in the GDP, the changes in the nature of social behaviour, and the well functioning of the market mechanism. The objective of the analysis was to evaluate the conformance of the Russian economy, in a special reference, to the European Knowledge Economy. We have defined sub indexes which were normalized between zero and one. We evaluated the knowledge effectiveness of Russian economy using European approach for Knowledge Economy. In order to obtain the complex Index of Knowledge Effectiveness, we used the statistical methods to summarize weighted knowledge effectiveness sub indexes by formula Vm = Sφieim. Results showed that this index totaled 0.28 at the maximum possible value of 1. This indicates significant need to create a new effective economic model with different management.