Theoretical economics Theoretical economics Теоретическая экономика 2221-3260 93091 10.52957/2221-3260-2024-11-42-54 НОВАЯ ИНДУСТРИАЛИЗАЦИЯ: ТЕОРЕТИКО-ЭКОНОМИЧЕСКИЙ АСПЕКТ NEW INDUSTRIALIZATION: THEORETICAL AND ECONOMIC ASPECT НОВАЯ ИНДУСТРИАЛИЗАЦИЯ: ТЕОРЕТИКО-ЭКОНОМИЧЕСКИЙ АСПЕКТ The study of theoretical and methodological aspects of the conceptual and empirical relationship between innovative macrofinancial policy and long-term economic growth Исследование теоретико-методологических аспектов концептуальной и эмпирической взаимосвязи проинновационной макрофинансовой политики и долгосрочного экономического роста https://orcid.org/0000-0002-6270-9002 Матризаев Бахадыр Джуманиязович Matrizaev Bahadyr Dzhumaniyazovich matrizaev@mail.ru

кандидат экономических наук;

candidate of economic sciences;

 Финансовый университет при Правительстве Российской Федерации Moscow Россия Federal State Budgetary Educational Institution of Higher Education "Financial University under the Government of the Russian Federation" Vladikavkaz Branch Moscow Russian Federation Российский государственный университет туризма и сервиса RU Russian State University of Tourism and Service RU 16 01 2025 16 01 2025 11 42 54 30 10 2024 25 11 2024 https://theoreticaleconomy.ru/en/nauka/article/93091/view

В настоящей статье приводятся результаты исследования отдельных теоретико-методологических и эмпирических аспектов взаимосвязи проинновационной макрофинансовой политики и долгосрочного экономического роста. В процессе исследования выявлено, что масштаб инноваций в значительной степени зависит от субсидий, предоставляемых государством, и инвестиционных преференций. Повышение качества инноваций требует новаторства в соответствующей области и внесения вклада в последующие технологические инновации. Качество инноваций в большей степени зависит от другого уровня факторов и потока информации. Фирмы предпочитают заниматься высококачественной инновационной деятельностью ради рыночной конкуренции, и фактор институциональной конъюнктуры в меньшей степени влияет на качество инноваций. Таким образом, в статье исследуется гипотеза о том, что при прочих равных условиях отклонение от целевого показателя ВВП ослабляет инновационный эффект государственных субсидий. Исследование проводилось на основе эмпирического опыта стран с быстрорастущей экономикой, в частности таких как Китай, Индия и др. Также, результаты показывают, что асимметричные эффекты сказываются на количестве инноваций, а не на их качестве. Неоднородность показывает, что субсидии на НИОКР в большей степени зависят от отклонения целевого показателя ВВП и снижают эффективность корпоративных инноваций по сравнению с субсидиями, не связанными с НИОКР. Кроме того, асимметричный инновационный эффект государственных субсидий более заметен в компаниях, которые подвергаются меньшему институциональному контролю. Эмпирические результаты, полученные в результате эконометрических расчетов и оценок, позволяют по-новому взглянуть на инновационный эффект государственных субсидий через призму отклонения от целевого показателя ВВП.

This article presents the results of a study of individual theoretical, methodological and empirical aspects of the relationship between innovative macrofinancial policy and long-term economic growth. The research revealed that the scale of innovation largely depends on government subsidies and investment preferences. Improving the quality of innovation requires innovation in the relevant field and contributions to subsequent technological innovations. The quality of innovation depends more on another level of factors and the flow of information. Firms prefer to engage in high-quality innovation activities for the sake of market competition, and the factor of institutional conjuncture has less impact on the quality of innovation. Thus, the article explores the hypothesis that, all other things being equal, deviation from the GDP target weakens the innovative effect of government subsidies. The study was conducted based on the empirical experience of countries with fast-growing economies, in particular, such as China, India, etc. The results also show that asymmetric effects affect the number of innovations rather than their quality. The heterogeneity shows that R&D subsidies are more dependent on the deviation of the GDP target and reduce the effectiveness of corporate innovation compared to non-R&D subsidies. In addition, the asymmetric innovation effect of government subsidies is more noticeable in companies that are subject to less institutional control. Empirical results obtained as a result of econometric calculations and estimates allow us to take a fresh look at the innovative effect of government subsidies through the prism of deviations from the GDP target

 долгосрочный экономический рост проинновационная макрофинансовая политика ВВП НИОКР инвестиции эффективность long-term economic growth innovative macrofinancial policy GDP R&D investments effectiveness

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