REAL ECONOMY OF THE REGION: ASSESSMENT AND FACTORS OF INNOVATIVE DEVELOPMENT
The purpose of the study is to identify effective factors that contribute to reorientation of enterprises of the regional real economy to innovative development strategy. The research methods include: empirical data collection, economic and statistical analysis, data interpretation and conclusions. The result of the study is assessment of the factors hindering the innovative development of real economy, as well as identificating effective factors contributing to innovative development of enterprises of real economy sector of the Chuvash Republic. The practical significance of the study lies in the fact that the identified effective factors that contribute to innovative development of real economy enterprises will increase not only competitiveness of the economy by overcoming the technological gap, developed innovation system, but will ultimately contribute to consistent stability of the financial regional system as well, since the real sector of regional economy is the main source of economic growth. Effective functioning of the regional economy and increase of its financial stability depend to a large extent on rational organizing the functioning of the real economy enterprises.