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Peculiarities of economic development on the basis of innovation and innovation potential

Author

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  • Allahyar Muradov
  • Rahim Huseynov

Abstract

Increase and progress in formation of innovation potential of economy (companies, firms) hold important place in raising its competitiveness. Because innovation potential plays a leading role in production of science-intensive products, realization of innovative investment projects, formation of human (intellectual) capital and securing steady development tendency in economy. The article has been dedicated to elucidation of knowledge economy and components of innovation potential. The main purpose here is explaining components of innovation potential, defining their mutual relation with other potentials, systemizing various approaches developed today and defining their importance in formation of knowledge economy.

Suggested Citation

  • Allahyar Muradov & Rahim Huseynov, 2013. "Peculiarities of economic development on the basis of innovation and innovation potential," Perspectives of Innovation in Economics and Business (PIEB), Prague Development Center, vol. 13(4), pages 84-91, November.
    • Handle: RePEc:pdc:jrpieb:v:13:y:2013:i:4:p:84-91
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