The role of direct investment in the development of Russia’s innovative economy (1991-2017)

The article examines the impact of direct investments, including FDI, on the development of Russia’s innovative economy. The unfavorable situation in the Russian national innovation system is shown: the basic indicators of innovation in 2017 remain at the level of 2000. The negative influence of FDI on the Russian industry, which is due to the passive position of the state in managing the investment flow, has been revealed. The article proposes an approach to the building of a management system of the institutes of the national innovation systems (NIS) based on the principle of ensuring mutually beneficial conditions for all participants of the innovation process. On the example of experience of activity of venture funds and technoparks, the need for state control of the effectiveness of innovative institutions, based on their contribution to the growth of the number of innovative active enterprises in the real sectors of the Russian economy as the main criterion for investment management is justified.