INNOVATIVE MODELS OF ECONOMIC GROWTH: FOREIGN EXPERIENCE

Abstract

The article proves the possibility of using foreign experience for the purpose of constructing an innovative model of economic growth in Russia, since the path of innovative development of the leading countries of the world is associated with the increase in basic macroeconomic indicators, the effective functioning of the financial sector, and the improvement in the level and quality of life of the population. It is underlined that innovations are the basis of stable social and economic development of the country. Comparative analysis of the Euro-Atlantic, East-Asian and American (the "Triple Helix" model) of innovative models of economic growth is carried out, each of which has its own cultural traditions, mentality, financial mechanisms and historically established systems of relationships. The need for close cooperation between the state, business and universities is being endorsed. To overcome the crisis and create conditions for the effective functioning of the economy, Russia must develop its own innovation model of economic growth.