摘要：The theoretical approaches to determining the key factors of providing the innovative development are generalized. The conceptual features of linear and nonlinear theories of innovative development are defined. The sequence of the stages of innovative cycle of economic development is proved. The role and importance of explicit and implicit knowledge in the process of innovative development are determined. The interconnection between the system of explicit and implicit knowledge and forms of scientific and technical progress (evolutionary and revolutionary) is considered. The objective laws inherent to different stages of innovative cycle of economic development are determined. The peculiarities of making innovative decisions by innovative entrepreneurs are substantiated
关键词：innovation; investment; linear theories; innovative cycle; economic development.
