Abstract:The article deals with the financial aspects of internationalization of innovation activities associated with the increase in international capital flows, directed by transnational corporations and other investors to finance R&D abroad. The dynamics and peculiarities of its inflow to the countries of the world, the factors influencing the intensity of the import of foreign investments, as well as their impact on the innovative development of the recipient countries. Particular attention is paid to assessing the role of foreign capital in the scientific and technical sphere of Russia. It is shown that the reduction of international financing of R&D, observed in recent years, indicates the weakening of the country's integration into the world innovation system.
Keywords:international financing of R&D, international investment, research and development, the internationalization of innovation, the national innovation system
JEL-Classification: F02, F21, F23, O30
References (transliterated):(2017). OECD Science, Technology and Industry Scoreboard 2017: The digital transformation OECD Publishing, Paris. doi: 10.1787/9789264268821-en.
Aghion P., Blundell R., Griffith R., Howitt P., Prantl S. (2009). The effects of entry on incumbent innovation and productivity Review of Economic and Statistic. (91(1)). 20-32.
Alcácer J., Cantwell J.A., Piscitello L. (2016). Internationalization in the Information Age: A New Era for Places, Firms, and International Business Networks? Journal of International Business Studies. (47(5)). 499-512. doi: 10.1057/jibs.2016.22.
Attractiveness for Innovation: Location Factors for International InvestmentOecd. Retrieved from 10.1787/9789264104815-en
Bas C., Sierra C. (2002). Location versus home country advantages in R&D activities: some further results on multinationals locational strategies Research Policy. (31(4)). 589-609.
Belderbos R., Du S., Somers D. Global Cities as Innovation Hubs: The Location of R&D investments by Multinational FirmsConference. Retrieved July 15, 2018, from http://conference.druid.dk/acc_papers/ rdv4by82h7nbyph96iuix18cu71s.pdf
Berry N., Kaul A. (2015). Global Sourcing and Foreign Knowledge Seeking Management Science. (61(5)). 1052-1071.
Cantwell J.A., Piscitello L. (2014). Historical Changes in the Determinants of the Composition of Innovative Activity in MNC Subunits Industrial and Corporate Change. (23(3)). 633-660.
Chen S., Dauchy E. International Technology Sourcing and Knowledge Spillovers; Evidence from OECD CountriesWorking Paper. Retrieved 25, 07, from http://www.imf.org/en/publications
Coe D., Helpman E., Hoffmaister A. (2009). International R&D spillovers and institutions European Economic Review. (53(7)). 723-741.
Costa I., Filippov S. (2008). Foreign-owned subsidiaries: a neglected nexus between foreign direct investment, industrial and innovation policies Science and Public Policy. (35(6)). 379-390.
Devigne D., Manigart S., Vanacker T., Mulier K. (2018). Venture capital internationalization: synthesis and future research directions Journal of Economic Surveys. 1-32. doi: 10.1111/joes.12276.
Edler J., Meyer-Krahmer F., Reger G. (2002). Changes in the strategic management of technology: results of a global benchmark survey R&D Management. 32 (2). 149-164.
Eroshkin A.M., Petrov M.V. (2012). Novye tendentsii vzaimodeystviya razvityh i razvivayuschikhsya stran v innovatsionnoy sfere [New trends in cooperation between developed and developing countries in the field of innovation]. World Economy and International Relations. (12). 3-13. (in Russian).
Harrison R. (2017). The internationalisation of business angel investment activity: A review and research agenda Venture Capital. 19 (1). 119-127. doi: 10.1080/13691066.2016.1260111.
Internationalisation of business expenditures on R&D and analysis of their economic impact (BERD Flows)European Commission. Retrieved July 19, 2018, from https://www.researchgate.net/ publication/316452374
Keller W. (2010). International trade, foreign direct investment, and technology spillovers. In Hall B., Rosenberg N. (Eds.) Handbook of the economics of innovation. (2). 794-829.
Martinez-Noya A., Garcia-Canal E., Guillen, M. (2012). International R&D service outsourcing by technology-intensive firms: Whether and where? Journal of International Management. (8(1)). 18-37.
Mayer K., Sinani E. (2009). When and Where Does Foreign Direct Investment Generate Positive Spillovers? A Meta-Analysis Journal of International Business Studies. 40 (7). 1075-1094. doi: 10.1057/jibs.2008.111.
Oecd. Retrieved July 16, 2018, from https://stats.oecd.org/index.aspx
Science & Engineering Indicators 201National Science Board. Retrieved July 18, 2018, from https://www.nsf.gov/statistics/2018/nsb20181
Thursby J., Thursby M. (2006). Here or There? A Survey of Factors in Multinational R&D Location Washington, DC: National Academies Press.
UNESCO. UIS.Stat. Retrieved July 16, 2018, from http://data.uis.unesco.org/#
WP1: Synthesis report. Ex post evaluation of Cohesion Policy programmes 2007-2013, focusing on the European Regional Development Fund and the Cohesion FundEuropean Commission. Retrieved July 17, 2018, from http://ec.europa.eu/regional_policy/sources/docgener/ evaluation/pdf/expost2013/wp1_synth_report_en.pdf
Rossiyskiy statisticheskiy ezhegodnik 2017Rosstat. (in Russian). Retrieved July 25, 2018, from http://www.gks.ru/bgd/regl/b17_13/Main.htm