Technological progress and its influence on economic growth, unemployment and inflation in Russia.

The socio-economic condition of a state is directly related to its technological development. The process of creating new technologies based on science is a key factor for economic growth and for upturn of the population's well-being. Technology can be viewed as the organisational and technical means of producing various types of products. It is important to remember that science, technology and production make up indissoluble interdependent uniоn and that the level of technological development is determined by how effective science and technology functioning together with production. The main ramification of this interconnection is the emergence of advanced knowledge and its use in new technologies or in the processing of high quality products. Russia's access into new global markets is possible due to technological growth, which will allow to produce new more sophisticated goods, and as a consequence, to present them on new trading platforms, where Russian producers will take the remarkable positions. The directions of innovative development of Russian economy are extremely accurate and precise. First direction is presented by growth of technologies and science. Second direction is related to the progress of technological innovations. The modern studies analyze current economic situation in association with the technological development and draw attention to the new ways of manufacturing modernization and renewal of the organizational of institutional principles of the interaction between economy and technologies. The issue of formation of the new Russian economy's technological mode is essentially related with the emergence of a new innovative and technological state model. Modern tendencies in economic development, which are included in the Russian state policy of scientific and technological progress, give evidence for the new economic order, the core of which will be nanotechnologies, biotechnologies, and information and telecommunication technologies. During the process of replacing the old models and schemes with a new ones, there is a shift in the economic production relations forms. Particular features of the structural transformation of Russian economy are linked with its special multi-structural nature. The combination of previous economic models in Russia is depicted the directions and methods of regulating technological development and the genesis of a concept for the interaction between technologies and economy. The growing role of globalization, the correlation between supply chains and the commencement of the information economy lead to the emergence of new forms of economic systems and conditions mitigating them. Therefore, an analysis of the characteristics and trends of such new models is of huge demand for understanding structural shifts, ways of technological development, and modern tendencies in the Russian economy. It should be emphasized that existed literature devoted to the impact of technological progress on Russian economic growth and increasing the competitiveness of the national economy does not allow to articulate an optimal innovative development strategy and industrial policy. In accordance with new conditions in the globalized world, scientific understanding of the deep modernization in Russian economy through technological development is of extreme importance for providing a thorough view on provisions related to the issue of ensuring sustainable economic growth of the national economy. The uncertainty can be explained by lack of the precise definition of basic terms, such as competitiveness of the economy, and by deficiency of clear view on measures of its assessment or the ways to prevent further negative ramifications and recession in the economy. All mentioned observations determine the relevance of the chosen topic. The purpose of this research is to study the economic aspect of the technological progress (further - TP) which can be described as the main factor of economic growth in Russia. Another hugely significant issue is the level of competitiveness, unemployment, inflation within period of TP. Bear this in mind, we have tried to define the key features of the TP and its achievements, which can be used for developing the basis of effective national economic policy and for stimulation innovative paths for economic modernization. The mentioned purpose of this research predetermined the formulation of following tasks: • to study the role of TP during the period of economic growth and its relationship with unemployment and inflation; • to understand the drawbacks of TP and potential risks caused by it for the economic growth; • to find out the role played by TP for stabilization of market relations in Russia; • to develop criteria and indicators for the assessment of TP's impact on Russian economy; • to explore the factors that beside TP contribute to the formation of effective and high innovative model of Russian economy. The subject of this research is the economic relations, which are aimed for ensuring intensive economic growth through TP and for transitioning Russian economy to global market relations. The object of the study is the TP as the key element for sustainable economic growth, its formation on the basis of the usage of the TP results in the economic activities of market entities. The theoretical and methodological basis of this work is the provisions developed by Russian and foreign scholars. The work uses data frоm specific books and monographs, as well as frоm statistical materials. The research is undertaken with following methodology: analysis and synthesis, induction and deduction, a historical method, a comparative method.