Innovation as a factor of improving the competitiveness of the economy of the Russian Federation

Modern international economic relations are characterized by aggravated competition between the subjects of the world economy, in the process of which the value of natural competitive advantages is inferior to those acquired. Thus, the competitiveness in the modern world economy is largely formed by the advantages of scientific and technological progress, implemented in new technologies, equipment, knowledge and methods of organizing production.Thus, the innovative potential of the state becomes the most important systemic factor in ensuring international competitiveness and sustainable economic growth. The directions of the formation of the modern world economy revealed the objective need for the development of the national economy along an innovative path, when it is advisable to focus on radical innovations.