Investing in R&D for innovative development in the BRICS

The article deals with R&D investment as a source of long-term strategy of innovative development of the BRICS countries. The gross domestic expenditures on R&D are analyzed as an indicator of the country’s investment in research and development. This indicator includes the costs of all the subjects of the innovation system of the state. The key factors of the innovation environment and innovation development indicators indicating the growing influence of the BRICS countries in the world economy in terms of research are identified.

Keywords: investment, gross domestic expenditure, R&D, BRICS