IDEAS home Printed from https://ideas.repec.org/a/ura/ecregj/v1y2017i4p1221-1235.html
   My bibliography  Save this article

The Technological Innovations and Their Impact on the Economy

Author

Listed:
  • Mikhail Maslennikov

Abstract

Drastic and inclusive technology progress is changing the economy of Russia and foreign countries. This progress significantly impacts production forces. . This paper analyzes theoretical and applied approaches to the investigation of production forces development. I reveal the role and importance of innovations in science and technology as well as their impact on various segments of the economy. I analyze the conceptual framework used for technological shifts. The paper describes the indicators showing the level of scientific and technological potential development in various countries and regions including the Urals. I define growth areas in technology and assess their contribution to gross domestic product (GDP) growth. The administrations and authorities at federal and regional levels impact the development of science, innovations, technologies and breakthrough areas. The development of these spheres leads to the increase in productivity of social activities, production and business activity. The paper reveals the impact of the technological breakthrough in such latest fields as the alternative energy sources, drones, electric car industry, storage and delivery of energy. This fields transform the economy and society. Furthermore, they change theoretical concepts of functional and institutional social structure. The development paradigm is to be modified from fuel and raw model to the innovative and technological one. The economic development and scientific and technological potential are interrelated. I discuss the reason of close attention to the development of science, technologies, innovations in the developed countries. as well as the measures to stimulate their development. The article studies the mechanism and tools of science and education funding in various regions of the world. The results of the research may be used for updating the strategy of scientific and technological development of Russia and its regions in the current situation as well as for choosing necessary conceptual approaches to the development of the economy.

Suggested Citation

  • Mikhail Maslennikov, 2017. "The Technological Innovations and Their Impact on the Economy," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1221-1235.
    • Handle: RePEc:ura:ecregj:v:1:y:2017:i:4:p:1221-1235
    as

    Download full text from publisher

    File URL: http://economyofregion.ru/Data/Issues/ER2017/December_2017/ERDecember2017_1221_1235.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Veblen, Thorstein, 1921. "The Engineers and the Price System," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1921.
    2. Olga Romanova, 2017. "The Innovation Paradigm of New Industrialization in the Conditions of the Integrated World Economic Way," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 276-289.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. T.B. Zambalaeva, 2020. "Research of Factors of Successful Crowfunding Finance on the Example of the Russian Boomstarter Platform," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 19(3), pages 398-412.
    2. Viktor Dementiev, 2019. "Productivity Paradox in Regional Dimension," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 43-56.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tae-Hee Jo, 2013. "Saving Private Business Enterprises," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(2), pages 447-467, April.
    2. Valentinov, Vladislav, 2023. "Stakeholder theory: Toward a classical institutional economics perspective," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 188(1), pages 75-88.
    3. Jon D. Wisman & James F. Smith, 1999. "American Institutionalism on Technological Change," Journal of Economic Issues, Taylor & Francis Journals, vol. 33(4), pages 887-902, December.
    4. Jean-Luc Gaffard, 2022. "Instabilité et résilience des économies de marché: Essai sur l'économie du libéralisme social," GREDEG Working Papers 2022-33, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    5. David Collins & Ian Dewing & Peter Russell, 2009. "The actuary as fallen hero: on the reform of a profession," Work, Employment & Society, British Sociological Association, vol. 23(2), pages 249-266, June.
    6. Cedric Durand & Céline Baud, 2023. "Profit-making, costs, and investments in the digitalization of retailing—The uneven trajectories of Carrefour, Amazon and Walmart (1995–2019)," Post-Print hal-04262663, HAL.
    7. Wolf Heydebrand & Annalisa Mirón, 2002. "Constructing Innovativeness in New-Media Start-Up Firms," Environment and Planning A, , vol. 34(11), pages 1951-1984, November.
    8. Erik S. Reinert, 2006. "European Integration, Innovations and Uneven Economic Growth: Challenges and Problems of EU 2005," The Other Canon Foundation and Tallinn University of Technology Working Papers in Technology Governance and Economic Dynamics 05, TUT Ragnar Nurkse Department of Innovation and Governance.
    9. Faruk Ülgen, 2017. "Financialization and vested interests : the irrelevance of self-regulation and financial stability as a public good," Post-Print halshs-02002415, HAL.
    10. Johan E. Eklund, 2009. "Corporate Governance and Investments in Scandinavia – Ownership Concentration and Dual-Class Equity Structure," Chapters, in: Per-Olof Bjuggren & Dennis C. Mueller (ed.), The Modern Firm, Corporate Governance and Investment, chapter 7, Edward Elgar Publishing.
    11. John P. Watkins, 2000. "Corporate Power and the Evolution of Consumer Credit," Journal of Economic Issues, Taylor & Francis Journals, vol. 34(4), pages 909-932, December.
    12. Zdravka Todorova, 2013. "Connecting social provisioning and functional finance in a post-Keynesian–Institutional analysis of the public sector," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 61-75.
    13. Davanzati, Guglielmo Forges, 2018. "Structural change driven by institutions: Thorstein veblen revised," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 105-110.
    14. Hugh Whittaker, 2017. "Premature financialization: a conceptual exploration," Working Papers halshs-01680406, HAL.
    15. Jo, Tae-Hee, 2011. "Heterodox Critiques of Corporate Social Responsibility," MPRA Paper 35367, University Library of Munich, Germany.
    16. Zdravka Todorova, 2013. "Conspicuous Consumption as Routine Expenditure and its Place in the Social Provisioning Process," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1183-1204, November.
    17. Tae-Hee Jo, 2011. "A Heterodox Microfoundation of Business Cycles," Chapters, in: Joëlle Leclaire & Tae-Hee Jo & Jane Knodell (ed.), Heterodox Analysis of Financial Crisis and Reform, chapter 9, Edward Elgar Publishing.
    18. Helge Peukert, 2001. "On the Origins of Modern Evolutionary Economics: The Veblen Legend after 100 Years," Journal of Economic Issues, Taylor & Francis Journals, vol. 35(3), pages 543-555, September.
    19. John Brehm & Scott Gates, 1994. "When Supervision Fails to Induce Compliance," Journal of Theoretical Politics, , vol. 6(3), pages 323-343, July.
    20. Subhasish Chowdhury & Oliver Gürtler, 2015. "Sabotage in contests: a survey," Public Choice, Springer, vol. 164(1), pages 135-155, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ura:ecregj:v:1:y:2017:i:4:p:1221-1235. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alexey Naydenov (email available below). General contact details of provider: http://www.economyofregion.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.