Stochastic methodology for estimating the rates of investment and innovation development in the system of regional economic management

The methodology for assessing the level of investment and innovation development in the region has been improved with the help of applied stochastic tools of econometrics, the theory of random processes and methods of investigating operations. The main indicators of the methodology have been justified by means of economic and mathematical modeling. The stochastic methodology has been tested on the economies of several Russian regions with developed heavy industry. Thegoverning economic bodies of these regions received the recommendations for raising the level of investment and innovation development.