Russia’s R&D sector: current state and role in global innovation markets

Abstract

The article considers the issues of innovation development in Russia in the context of the recent global trends. The article examines the current state of the Russia’s R & D sector, its place in the global innovation system and the barriers to modernization of Russia’s economy. Particular attention is drawn to the low level of funding for science and the weak private business participation in the process. Notwithstanding the growing number of established “institutions of development”, they hardly contribute to improving the situation due to their low efficiency. Therefore, enhancement of innovative activities of nondependent on state grants small businesses that could find a “niche” in the domestic and global markets would be promising.