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

Kazila Erikenovich Kubayev
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Kazila Erikenovich Kubayev: Al-Farabi Kazakh National University, Al-Farabi Ave., 71, Almaty, 050040, Kazakhstan

The Journal of Social Sciences Research, 2018, 149-156 Special Issue: 3

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.

Keywords: Effective innovative economy; Mechanism of efficiency; Capital-saving production; Capital-saving; Capital-neutral and capital-intensive intensification. JEL classification: O16; O32; O47 (search for similar items in EconPapers)
Date: 2018
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