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Factors Inhibiting Innovation (in order of importance)

Economic factors

Shortage of own funds

Shortage of funds from government

High expenditures

Long payoff period

Excessive perceived risks

Low solvent demand for new products

Production factors

Low innovation potential

Deficiencies in legislation

Low consumer demand

Lack of skilled personnel

Underdeveloped innovation infrastructure

Underdeveloped technology market

Lack of information on market

Lack of information on technology

Uncertainty in timing of innovation

Resistance to innovation

Legal Framework for Promoting Innovation

State Support for Small Enterprises in Russia (Law no. 88-F3, June 14, 1995)

Budget Code of Russia (Law no. 145-F3, July 31, 1998)

Tax Code of Russia (Law no. 146-F3, July 31, 1998)

Status of Science Cities of Russia (Law no. 70-F3, April 7, 1999)

Science and State Science-Technology Policy (Law no. 127-F3, August 23, 1996)

Protection of the Environment (Law no. 7-F3, January 10, 2002)

Source: Centre for Science Research and Statistics (2003) and, for legal framework, Martyushov (2003).

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