Sergey  Chuprov

Baikal State University

Russia

chuprov@isea.ru

Innovative prospects, nonlinear dynamics and the regional industry development

Abstract. Globalization processes enveloping the world’s economic relations as well as the increasing competition on domestic and foreign markets shape up the prospects for innovative development of industrial complexes and regional industries. Our paper focuses on the Irkutsk region that characterizes East Siberia’s leading fuel and energy, timber processing, metallurgical and machine-building complexes, as well as the petrochemical industry. We assess the favorable innovative conditions that influences accelerated modernization of production complexes. Moreover, we discuss the influence of information factor on behavior of industrial enterprises and their stability in the environment of innovative changes and the economy of knowledge.

Our results draw from the theory of nonlinear fluctuations that enable us to analyze the stability in developing economic systems. Moreover, we discuss dynamic processes of economic evolution within related changes and efficiency of activities of the regional developing industrial enterprises using the elements of the catastrophe theory.

Received: November, 2015

1st Revision: January, 2016

Accepted: May, 2016

DOI: 10.14254/2071-

8330.2016/9-2/4

JEL Classification: C62, O31, Q01, R11

Keywords: economic development, industry, innovation, regional development