REGULATION OF THE INNOVATION-DRIVEN PROGRESS OF THE ECONOMY AMIDST THE INNOVATION POLICY DISMANTLING IN UKRAINE
DOI:
https://doi.org/10.15407/economyukr.2024.12.085Keywords:
technological innovations; research and development; innovation policy tools; innovation policy dismantling; innovation activities of enterprises.Abstract
The toolkit of active innovation policy used in leading countries of the world to achieve technological progress in priority industries and sectors of the economy, to enable the "green transition" is summarized. The regulatory landscape of innovation policy in Ukraine is considered and, based on the evaluation of the results (decline in the R&D intensity of GDP, reduction in the number of employees in the science sector, passivity of industrial business in the implementation of innovations), numerous signs of its long-term dismantling are revealed.
Changes in the innovation activities of enterprises in wartime are analyzed, the following trends are outlined: the intensification of innovation processes, primarily in the defense industry sector; the emergence of new actors in the innovation domain and the spread of “garage startups” specializing in the development of technologies and the manufacture of robotics products; the transformation of demand for innovative products under the influence of the civil volunteer movement; the increase in effective demand and the simplification of government funding mechanisms for self-initiated development of defense technologies. The combined effect of these trends lays the foundation for the formation of a modern robotics industry, technological renewal of the defense industry and structural modernization of the national economy despite the difficulties of wartime.
The hypotheses about the impact on GDP growth of the knowledge resources that are formed due to government and business R&D spending are tested using econometric modeling. Positive effects of the action of multipliers of government and business R&D funding on GDP dynamics are revealed. The effectiveness of government R&D funding as an innovation policy tool, the use of which contributes to economic growth, has been confirmed. However, the use of this tool needs to be improved in order to prevent the substitution of private investments by government ones and to create the appropriate impetus for stimulating innovation activities in the business sector.
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