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The Process of Fund-Saving In the Theory of Innovative Economy

Author

Listed:
  • Kazila Erikenovich Kubayev

    (Al-Farabi Kazakh National University, Al-Farabi Ave., 71, Almaty, 050040, Kazakhstan)

Abstract

The research paper proves that the essence of the effectiveness of the innovation economy is the capital-saving intensification of production. The paper fully describes the economic mechanism of capital and labor saving in the production and marketing of products and services. The primary motivation for innovative business is the growth of labor productivity in equal conditions that leads to a reduction in cost per unit of output, which certainly provides high additional revenue, covering initial expenses. This is the formula for the efficiency of industrial-innovative development of the economy. Depending on the level of innovation, profitability can be different.

Suggested Citation

  • Kazila Erikenovich Kubayev, 2018. "The Process of Fund-Saving In the Theory of Innovative Economy," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 149-156:3.
    • Handle: RePEc:arp:tjssrr:2018:p:149-156
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    References listed on IDEAS

    as
    1. Andreas Irmen, 2017. "Capital‐ And Labor‐Saving Technical Change In An Aging Economy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(1), pages 261-285, February.
    2. Utterback, James M & Abernathy, William J, 1975. "A dynamic model of process and product innovation," Omega, Elsevier, vol. 3(6), pages 639-656, December.
    3. Albert N. Link, 2018. "Assessing technology and innovation policies: introduction to the special issue," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 27(5-6), pages 401-403, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Effective innovative economy; Mechanism of efficiency; Capital-saving production; Capital-saving; Capital-neutral and capital-intensive intensification. JEL classification: O16; O32; O47;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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