INNOVATIONS AND ECONOMIC BEHAVIOR IN MODERN MODELS OF ECONOMIC GROWTH AND EVOLUTIONARY ECONOMICS

Abstract

Two paradigms of innovative development of the economy: equilibrium concept of a real business
cycle and learning models in the process of P. Romer activity on the one hand and a paradigm of synergetic
evolutionary economics, which originates from disequilibrium understanding of the economic cycle nature
on the other hand are considered in the paper. The basic restrictions of the mainstream, main of which is a
provision that innovations appear at the right time in the economy and incorporate into its structure are identified.
The evolutionary approach comes from disequilibrium notion about the cycle and close to Neo-
Keynesian paradigm, suggesting the need for stimulation of innovations within the framework of industrial
policy. For this purpose it’s necessary to track the periods of structural readiness of the economy to the perception
of innovations - a window of opportunities and a dynamic competitive niche.