Authors: Maksim S. Maramygin, Dr. Sc. (Econ.), Professor, Head of Financial Markets and Banking Dept., Ural State University of Economics

Aleksey A. Bobov, Postgraduate of Finance, Money Circulation and Credit Dept., Tyumen State University

Abstract. In the article the authors study the economic essence of investments, carry out the historical genesis of the essential views on this concept and ground the important role of investment process in the development of society. On the basis of the study with due regard to the modern innovation theory according to which the world’s leading economies develop, the paper provides a definition of integrated innovative investments as a fundamental essential indicator of the investment system in today’s society. Given the existing need of Russia’s economy for growth in labour productivity and improvement in factors of production the authors propose a simplified scheme for development and implementation of integrated innovative investments with the inclusion of scientific, educational and human resources.

Keywords: investments, innovation theory, factors of economic development, integrated innovative investments