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In the article the authors return to the problem of inflation and measurement of economic growth, now from the position of analysis and evaluation of the effectiveness of economic management. And he finds a new confirmation of his previous approaches in the models of the analysis of economic growth of the expert society of the European Union. An analysis of the EU KLEMS model convinces the authors that models based on a qualitative theory of money provide a reliable basis for forecasting development and making correct management decisions.

 One of the most important tasks of innovative development of a country and its regions is building an innovative vector of development essential for reaching a competitive level and economic growth. The authors have explored tasks and issues and tasks connected with quantitative explanation of still unresolved dependence of export-oriented countries’ economic growth on export volumes and prices in the foreign market. They used a three- way model of innovative development to study the productivity of resources in different areas of development.As a result of their research the authors introduced a different approach to the notion of innovative development. It allows researchers to view it as a system and integrity in three co-related directions: technique and technology, currency and finance, and society and politics. Thus, they have the opportunity to estimate how much each sector of national (regional) economy individually and all of them together contribute to the economic growth. This approach provides the opportunity to examine the basic holistically co-related directions which allow measuring the level of innovative development, estimating the economy’s innovativeness, determining and viewing differently the innovative paradigm. The authors used mathematical model to study and introduce productivities of major types of resources. They point out that effective functioning of economy (including financial) makes it possible to develop industries gradually and to smooth out economic development of the regions, to avoid structural shifts and disproportions in economy which finally results in the possibility of productive implementation of programs of the country’s innovative development.The authors have systematically studied the correlation between the productivity of resources and the achievement of systematic multiplier effect (there is no wide research found on this problem, the authors dealt with individual indicators of multiplier effect)

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The present paper reflects the outcomes of the in-depth analysis relating to the development of the economic analyses indicators to assess growth at different levels of the process of innovations in a national economy. It presents a new model of market equilibrium, which has been designed to restore a balance between the levels of production, employment, income and prices. Specifically, the paper developed a theorem, which has built on the set of the innovations indicators to measure growth in innovations in the development of national economies of world's developing countries. The novice of the paper is in its justification of the qualitative theory of money as the core basis for assessing economic changes in the growth of innovations under the realities of the globalized world economy. The prime contribution of the study is that it puts a halt to the inefficient and ineffective utilization of natural, material, capital and labor resources. Moreover, it opens up an undisturbed path to the development of green economy thereby leading to the sustainable economic development that saves capital, labor, and environmentallyfriendly resources.