Best foreign practices for innovative development in Russia: the case study of China

Russian Presidential Academy of National Economy and Public Administration, South Russia Institute of Management, Rostov-on-Don, Russia

^* Corresponding author: podolskayat@uriu.ranepa.ru

Abstract

In the last 15 years China has been showing the dynamic development of its innovation system which has become the basis for high economic growth that continued even during the global financial crisis of 2009. China’s current achievements in the development of innovations are directly related to the state policy which demonstrates their exceptional effectiveness. There is a similarity in problems the transitional economies of Russia and China are now facing in the field of innovative development. The key objective of the presented here research is statistical and structural analyses of the processes taking place in China’s innovation sphere. The analysis is expected to reveal what measures implemented within Chinese economy have stimulated the dynamic development of the country’s innovation sector. The authors also hope to determine how similar measures can be implemented in the context of the Russian Federation.