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Business Innovation Activity and the Fourth Industrial Revolution in Russia

Author

Listed:
  • Anna Verenikina
  • John Finley
  • Alexei Verenikin
  • Maria Melanina

Abstract

The research is devoted to a comparison of the level of Russian companies’ innovation activity for the period 2011-2020. The authors propose the Index of Innovative Activity based on the integrated indicator calculation, which combines a range of factors reflecting different aspects of business innovation activities. The generalised principal component approach, which was the basis of this study, didn’t neglect any residual dispersion of source data and allowed us don’t give any subjective weights to the factors. Based on the study results, the authors try to identify the reasons for the growth or decline in innovative activity in the specified period. The research illustrates that the role of barriers to innovation is gradually decreasing, and factors that promote innovations are becoming more important. Our study lays the foundation for the regular calculation of the index to assess the trends.

Suggested Citation

  • Anna Verenikina & John Finley & Alexei Verenikin & Maria Melanina, 2022. "Business Innovation Activity and the Fourth Industrial Revolution in Russia," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 130-144.
    • Handle: RePEc:bas:econst:y:2022:i:5:p:130-144
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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