Regional model of simultaneous investment, production and financial planning of programmes for innovative development

Abstract

The subject of this study is the planning of programmes for innovative development of the region based on the simultaneous investment, production and financial planning. A regional model of planning the programmes for innovative development has been created to reduce on a global scale current domestic costs for research and development (R&D) of the industrial region depending on its investment planning according to the data on investment in stock capital, production planning according to the data on gross regional product (GRP) and financial planning according to the data on corporate accounts payable. In the Nizhny Novgorod Region investments in stock capital and GRP should be increased and the amount of corporate accounts payable reduced in order to minimise all costs for R&D. However, there is a corporate debt limit established for fundamental research. It is not feasible to exceed such limit because this would lead to an outflow of necessary funds for fundamental research, and increase in costs for applied research as well. For developments, there is a lower GRP limit. It is inadvisable to fall below such limit because this would lead to an outflow of necessary funds for developments.