Development of Financial and Economic Instruments for the Formation and Management of Innovation Clusters in the Region

The article discusses the main directions of stimulating economic development of the region and one of its most important components – innovation. The need to expand the use of financial and economic instruments is justified, the analysis of the development of regional innovation clusters, means and directions of scientific and technological development of the country is conducted. The guidelines to improve the mechanisms to foster innovation, tools of implementation and evaluation of innovative clusters are given. DOI: 10.5901/mjss.2015.v6n3p11