INVESTMENTS IN THE INNOVATIVE DEVELOPMENT OF REGIONAL ECONOMY: CONSEQUENCES FOR QUALITY OF REGIONAL ENTREPRENEURSHIP'S PRODUCTS

Irina V. Milchik, Elena N. Grishina, Eleonora V. Nagovitsyna

Abstract: This paper aims at studying the consequences of investments in the innovative development for quality of regional entrepreneurship's products and the perspectives of balance of Russia's regional economy. Originality and novelty of this research consist in the following: firstly, it offers a systemic treatment of quality in the integrity of all its manifestations. Secondly, it considers quality as a source of overcoming the underrun of certain regions from other regions and ensuring the balance of regional economy. Thirdly, it offers a tool that is available for internal (corporate) and external (state) quality management - investments in innovations - which allows creating a synergetic effect in the form of systemic improvement of quality's manifestations. Practical significance of the obtained results consists in determination of top -priority manifestations of quality for provision of regional economy in modern Russia - volume of export and share of innovative products in the structure of regional entrepreneurship's products. Empirical value of this research consists in development of applied authors' recommendations (management implications) for provision of the balance of regional economy based on improvement of the practice of investing in innovations in the interests of quality.

Keywords: Quality of Products; Investments in Innovative Development; Regional Economy; Regional Entrepreneurship; Balance of Regional Economy; Regions of Russia; Quality Management

DOI: 10.24874/IJQR15.04-08

Recieved: 14.10.2020  Accepted: 18.02.2021  UDC: 338.518

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