Improvement of the Mechanism Ensuring Innovative Development of the Oil Sector in Times of Crisis

Abstract :

In today’s conditions, the mainstream trend in development of the Russian socioeconomic system is innovative modernization, which, in particular, implies a wide use of innovations in different sectors of the national economy. The issues of innovative development have been most urgent for the oil sector, which ensures a significant proportion of the federal budget revenues, capabilities for socioeconomic development of Russia (as well as other oil-producing countries) as a whole and is an economic basis for conversions in other spheres.Innovative development of the oil sector can be ensured only based on improved organization of the activities of all the stakeholders of the innovative process, which makes it possible: to use, in the best way, the available sources of innovations in the changing external environment, consider economic specifics of enterprises in this sector, possibilities for interaction between big and small businesses so as to reduce risks, distribute the limited volume of investment resources among market participants in order to obtain the maximum effect. This paper is dedicated to the urgent problem of ensuring innovative development of the oil sector that.