Innovative development of small business: Assessing the impact on GRP in Russia

Abstract

Subject. This article discusses the contribution of small business to ensuring economic growth in the regions of Russia. Objectives. The article aims to identify the relationship between the innovative activities of small business and the indicators of development of regional economic systems. Methods. For the study, we used statistical methods of interaction detection and linear predictive models with loss functionality in the form of quantile functions. Results. The article notes that the calculations made do not confirm the hypothesis that there is a significant impact of small business and its innovative activities on the gross regional product. A significant relationship is observed between the costs of innovation of small enterprises and the gross regional product only. Conclusions. A quantile regression model based on GRP data and investment in innovation is ineffective. Increased investment in innovation cannot be considered as a possible predictor variable of GRP growth.