scholarly journals ORGANIZATIONAL AND FINANCIAL DETERMINANTS OF THE INNOVATIVE COMPONENT OF THE COUNTRY’S COMPETITIVENESS

2021 ◽  
Vol 5 (40) ◽  
pp. 465-474
Author(s):  
О. Baula ◽  
S. Zhukov ◽  
О. Liutak ◽  
Ya. Stoliarchuk ◽  
L. Korolchuk
Keyword(s):  
Interest Rates ◽  
Financial Support ◽  
Capital Investment ◽  
Innovation Policy ◽  
Regression Equations ◽  
Innovative Development ◽  
Industrial Sectors ◽  
State And Local ◽  
Multifactor Regression ◽  
The Impact

Abstract. The article identifies the impact of sources of funding for innovation in the country on economic growth through economic and mathematical modeling and construction of regression equations between GDP and funding for innovation and research costs with the construction of a multifactor regression equation. As a result of regression analysis, it was found that the most significant impact on the resulting indicator have such variables as capital investment from state and local budgets and research and development costs. Using the method of extrapolation, GDP growth was forecast for 4 years, and it was found that capital investment from own funds of enterprises and organizations will grow by 24,08%, capital investment from state and local budgets by 28,42%, research costs and development by 22,76% for the analyzed period.Subject to compliance with the projected values of the financial determinants of the innovative component of increasing the country’s competitiveness, the volume of estimated GDP in actual prices for the forecast period will increase by 936039,011 million UAH or 23,26%. The reasons for the low level of the state of the innovation sphere in the domestic economy are outlined: underdevelopment of the market of innovative products due to low indicators of development of integration processes in it; weakness of relations that determine the innovative nature of economic development; low motivation of the industrial sector in innovative development; the supply of technological innovations created by national industrial companies and research institutions in the domestic market is limited; high cost of development and implementation, high interest rates on the investment portfolio, a long payback period, the focus of financial institutions on the issuance of «short loans», usually consumer loans for technological renewal of industrial sectors. To resolve such contradictions, the system-forming factors of a set of measures to intensify integration processes in the innovation sphere of Ukraine were proposed. Systematized foreign experience in scientific, technical and innovation policy, as well as commercialization of innovations, taking into account which proposed conceptual guidelines for organizational and financial support of the effectiveness of the innovative component of competitiveness: economic mechanisms (direct budget investments; preferential lending; integration with foreign institutions; financial activities; increase the share of GDP aimed at financing innovation processes, development of an effective set of measures to attract international grants and household savings as investments to implement the concept of innovative development of the country’s economy, etc.); organizational mechanisms (formation of integration clusters using the potential of education, business, government, public; state assistance in the development of innovation infrastructure, etc.). Keywords:innovations, financial support of innovative development, country competitiveness, innovation system, cluster, regression, correlation, integration processes. JEL Classification O11, O19, O16, O33, E62, F20 Formulas: 1; fig.: 5; tabl.: 3; bibl.: 12.

scholarly journals Networks as Drivers of National Innovative System Development in the Conditions of Globalization

2021 ◽  
Vol 92 ◽  
pp. 06019
Author(s):  
Alexander Kurochkin ◽  
Svetlana Morozova
Keyword(s):  
Industrial Revolution ◽  
Institutional Environment ◽  
Innovation Policy ◽  
System Development ◽  
Innovation System ◽  
Value Added ◽  
Innovative Development ◽  
Network Interaction ◽  
Building Information ◽  
The Impact

Research background: The modern social, political and economic challenges of the Fourth Industrial revolution and development of the Network Society actualized the problem of maximizing of effectiveness of innovative policy analysis as one of the key factors of economic and political competitiveness of national states, regions, cities and urban agglomerations in Global World. Purpose of the article: The study focuses on the impact of networking on the effectiveness of national innovative development in the context of globalization. In this vein, the main ways of network interaction are considered and the network model of innovation policy is analyzed. Methods: Modern innovation policy is a synthesis of scientific, economic, industrial, and partly regional policy of the state, aimed at the formation and maintenance of an adequate institutional environment for the process of creating, disseminating and introducing innovations. Thus the key feature of the research methodology is the combination of the New Institutional Approach and the Network Theory. Findings & Value added: The study provides a detailed analysis of international experience in the field of open innovation and innovative development based on network interaction. Moreover, the authors present the classification of countries that are leaders in the process of building information (communicative) and network infrastructure. Particular attention is paid to issues of network interaction at the global level and the case of Russian innovation system in this context.

scholarly journals Innovations in government management of the healthcare system: forecasting of covid-19 consequences in social, investment and business development

2020 ◽  
pp. 11-25
Author(s):  
Tetiana Vasylieva ◽  
Olha Kuzmenko ◽  
Naila Rashid Musayeva ◽  
Sergej Vojtovic ◽  
Maria Kascha ◽  
...  
Keyword(s):  
Time Series ◽  
Economic Development ◽  
Fourier Series ◽  
Capital Investment ◽  
Innovation Policy ◽  
Additive Models ◽  
Negative Consequences ◽  
Time Series Decomposition ◽  
Socio Economic Development ◽  
The Impact

This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of the need for an innovative policy in the area of health protection at the link with the transformation of the social and economic development of the country through the pandemic COVID-19. The main goal of this study is to predict two scenarios for the development of the main indicators of the country's socio-economic development: considering the pandemic COVID-19 and the possible course of events without the influence of epidemiological threats. The systematization of literary sources and approaches to innovation and the determination of the volume of negative consequences for the national economy, due to the introduction of quarantine restrictions, has shown that this issue is quite relevant around the world. The study of the transformation of the trajectory of economic development of Ukraine in the article was carried out in the following logical sequence: 1) collection of statistical information, including 118 indicators of social development, the state of capital investment and business expectations of Ukrainian enterprises and screening of multicollinear indicators among them; 2) performing a time series decomposition separately for the interval 5 years before quarantine and taking into account the impact of the pandemic; 3) forecasting the consequences of the pandemic according to the investigated indicators of economic development in 2020-2022 by turning the time series into the Fourier series. The methodological tools of the study were methods of checking for multicollinearity by Pearson coefficients, decomposition of additive models into a trend and cyclic components, selection of cyclic oscillations by fast Fourier transform, extrapolation of constructed models for subsequent years, and quality control of constructed models by F-test quarterly data for 2015-2020 are selected. The study empirically confirms and theoretically proves that among the socio-economic development factors studied, most experienced significant transformations due to the introduction of quarantine restrictions by the government. This leads to the need for innovation policy in the health sector in order to minimize such consequences in the future. Keywords: Fourier series, forecasting, COVID-19, innovation, time series decomposition, health care.

scholarly journals The financial mechanism of small enterprises innovation activities

2020 ◽  
pp. 195-202
Author(s):  
Viacheslav Riznyk ◽  
Oleh Kalmykov
Keyword(s):  
Interest Rates ◽  
Financial Support ◽  
Banking Sector ◽  
Innovative Activity ◽  
Financial Resources ◽  
Small Enterprises ◽  
Innovative Development ◽  
Competitive Advantages ◽  
Development Models ◽  
Financial Mechanism

Relevance of the research topic. Increasing capital is one of the most important challenges for ensuring sustainability and growth opportunities for small enterprises both in Ukraine and abroad. Successful activities of small enterprises require constant competitive advantages through the implementation of innovative development models. Integration of Ukrainian enterprises into the global economy is impossible without investing in their innovative development, aimed at overcoming the economic lag behind developed countries, because in an era of dynamic globalization changes, competitiveness depends primarily on the ability to implement innovative projects, which requires significant financial resources. Formulation of the problem. Attracting financial resources to the innovative activities of small enterprises is especially problematic. The main reasons for this situation are high interest rates in Ukraine, the reluctance of the banking sector to lend to projects with a high degree of uncertainty and the weak development of non-traditional forms and methods of attracting financing in Ukraine. Analysis of recent research and publications. The problems of innovative activity of small enterprises and the mechanisms of its financial support were investigated by A. Bondarenko, G. Wozniak, O. Denysenko, V. Zianko, A. Kuznetsova, M. Melnyk, V. Nevmerzhitsky, Yu. Nikitin, Dong Xinyin, N. Stasyuk, A. Cherep, S. Khvalynsky and others. Setting goals, research objectives. The aim of the article is to determine the economic content of the financial mechanism and find out the sources of financing the small enterprises innovative activity and to develop ways to increase the efficiency of small enterprises financial mechanism of innovative activity in Ukraine. The method and methodology of the study. The article used a set of methods of scientific research: a systematic approach, structuring, analysis and synthesis, etc. Conclusions according to the article. The article reveals the essence of the financial support mechanism and its specifics for the innovative activity of small enterprises. The necessity of ensuring small enterprises competitive advantages through the implementation of innovative development models is substantiated. It was stated that most Ukrainian enterprises are now experiencing a shortage of their own funds, and attracting investment is problematic. The main reasons for the difficult access of small enterprises to financial resources are analyzed. Directions of increasing small enterprises financial mechanism of innovative activity efficiency are proposed.

INNOVATION COMPONENT OF SUSTAINABLE DEVELOPMENT: SECURITY ASPECT

2017 ◽  
Author(s):  
Vitaliy Omelyanenko ◽  
Keyword(s):  
Sustainable Development ◽  
Innovation Policy ◽  
Innovation System ◽  
Innovation Process ◽  
Innovative Development ◽  
Business And Society ◽  
The Sustainable Development ◽  
Main Components ◽  
The Impact ◽  
The Relationship

The huge potential of innovations to achieve the goals of sustainable development is indisputable, but at the same time the task of orienting the innovation process to its most problematic areas, which is a threat to national security, arises. This issue is relevant in the context of the formation of mechanisms of interaction between the state, business and society and is an urgent scientific and practical problem. Based on the above, the purpose of the study is to analyze the main components of innovation development strategies in the framework of national strategies for sustainable development. In the study, the author improved the scheme of the relationship between development and security, which is focused on achieving development and security goals through appropriate innovation policies and development management. Taking into account the importance of innovative development, as well as the national characteristics of the relationship between it and the goals of sustainable development, a practical approach to the coherence of innovation policy for sustainable development is proposed. It is determined that for the implementation of the coherence of innovation policy for sustainable development, an analytical component is important, which will link the goals of sustainable development and indicators of the innovation system as the basis for their achievement. To determine the impact of innovative development on the sustainable development of Ukraine, the impact of the indicator of goal 9 on the other 16 goals is determined. The components of the national system «sustainable development – security» are identified and evaluated on the basis of Sustainable Development Report 2019. As prospects for using the developed methodology of institutional innovation (creating institutional conditions for innovative priorities of sustainable development) it is proposed to consider it in the context of achieving sustainable goals development (systematic integration of economic, social and environmental aspects of sustainable development) at the regional level.

scholarly journals The Impact of the Jordanian Labor Culture on the Low Employment Rates in the Sectors of Engineering, Plastic, Rubber Industries, Printing, Paper and Packaging Compared to Other Industrial Sectors in Abdullah II Industrial City

2019 ◽  
Vol 12 (5) ◽  
pp. 167
Author(s):  
Khaled Abd Almanem Albustanji ◽  
Mohammad Salameh Almahirah ◽  
Moh’d Ahmad Abd-Qader ◽  
Mohammad Al-Qaryouti
Keyword(s):  
Financial Support ◽  
Working Hours ◽  
The State ◽  
Industrial City ◽  
Industrial Sectors ◽  
Engineering Plastic ◽  
Printing Paper ◽  
Employment Rates ◽  
The Impact

The study aimed to identify the effect of the Jordanian labor culture on the low operating rates in the sectors of engineering, plastic and rubber industries, printing, paper and packaging compared to other industrial sectors in Abdullah II Industrial City. The study reached a number of results, the most important of which is that there is an impact on the Jordanian labor culture on the low operating rates in the sectors of engineering, plastic and rubber industries, printing, paper and packaging compared with other industrial sectors. The study presented several recommendations, the most important of which is to raise or reconsider material and moral incentives in the sectors subject to study by the competent authorities, so that they are fair and appropriate to the nature of work in these sectors under the specified working hours. The State continues to provide all available means to prepare the worker technically and physically to work in the sectors studied through the training centers prepared for the Jordanian workers to train and enroll in these sectors through appropriate material and financial support.

scholarly journals The Impact of Public Capital Investments on the Revenue Growth of Medium Enterprise in Indonesia

2012 ◽  
Vol 14 (3) ◽  
pp. 253
Author(s):  
Darius Tirtosuharto
Keyword(s):  
Local Governments ◽  
Capital Investment ◽  
Public Capital ◽  
Transport Infrastructure ◽  
Capital Investments ◽  
Revenue Growth ◽  
Medium Enterprise ◽  
State And Local ◽  
Medium Enterprises ◽  
The Impact

Public capital investment represents the role of state and local governments in supporting greater capacity of private enterprises to gain success in a market economy measured by revenue growth. Medium enterprises are considered as the catalysts for economic growth and competitiveness particularly in developing countries due to efficiency and flexibility in an adverse economic environment. Using aggregate data of 30 states (provinces) in Indonesia from 1997-2002, the impact of public capital investment on the revenue growth of medium enterprise is examined. The paper finds that only medium enterprises in the industrial and trading sector benefited from public capital investments and the most optimum capital investment is in transport infrastructure.    

scholarly journals Current trends in the implementation of innovative development as a concept of structural modernization of the machine-building industry of Ukraine

2021 ◽  
pp. 9-12
Author(s):  
Ruslan IVANENKO
Keyword(s):  
Innovation Policy ◽  
Machine Building ◽  
Innovation Activity ◽  
Building Industry ◽  
Innovative Development ◽  
Production Environment ◽  
Industrial Enterprises ◽  
Current Trends ◽  
The Impact ◽  
Building Enterprises

The paper considers current trends of innovative development as a concept of structural modernization of the machine-building industry of Ukraine. The impact of the pandemic coronavirus on industrial enterprises of the machine-building industry in the world and Ukraine is analyzed. The basic tendencies of development of trade in the investigated sector in the conditions of quarantine and measures of stimulation of business in machine-building branch are revealed. The analysis of the current state, problems and perspectives of innovative development of machine-building branch in Ukraine for the period of 2010–2020 is carried out in the paper. The available types of forms of modernization of machine-building industry in Ukraine are analyzed. It is found out that the state of their development is insufficient, which requires the elaboration of further strategies of activation of activity both at the national and regional level. Determined a set of factors that influence the formation of the ability to implement machine-building enterprises innovations. The main groups of identified factors include infrastructure and accessibility, development of society, as well as the production environment. Structural differentiation by the level of their costs for innovations in the industry was analyzed. It has been established that in Ukraine there is extremely low state financing in the aspect of innovations development. Own funds of the machine-building enterprises, with a share of 96 % is the main source of investment in innovation activity of the industry. It is determined that for this purpose, it is necessary to expand the vision and develop a strategic roadmap that would allow to promote innovation. The priority of expanding the tools of innovation policy is justified. The need to create a fundamentally new concept of innovative development, providing the use of a mixture of policies and encompass vertical and horizontal understanding of these processes has been proved. It has been established that the management of the new innovation policy of machine building industry in Ukraine should provide the use of multi-level, open and network structures.

scholarly journals ORGANIZATIONAL AND ECONOMIC MECHANISMS TO SUPPORT INNOVATIVE DEVELOPMENT AT THE REGIONAL LEVEL

2020 ◽  
Vol 22 (1(74)) ◽  
pp. 63-71
Author(s):  
О.А. IERMAKOVA
Keyword(s):  
Financial Support ◽  
Innovation Policy ◽  
Selection Process ◽  
The State ◽  
Regional Level ◽  
Innovation Activity ◽  
Innovative Development ◽  
Competitive Selection ◽  
Economic Mechanisms ◽  
Selection Of

Topicality. One of the problems of the state innovation policy in Ukraine is the abolition or suspension of financial privileges for the subjects of innovation activity due to the lack of transparency of the mechanisms of their distribution. However, complete rejection of state financial support o innovation, that is one of the most widespread instruments of innovation policy in the world, does not correspond with the interests of innovative development of the state. As a solution of this problem at the regional level could be the mechanism of financial support for innovative projects on a competitive basis. Aim and tasks. The purpose of the article is to develop organizational and economic mechanisms of innovative development at the regional level and to discover the source of formation of their financial support. Research results. The article proposes a mechanism for competitive selection of innovative projects to receive funding from local budgets, which, unlike the existing ones, is as transparent as possible, ensures competitiveness among applicants and takes into account the priorities of innovative development of a particular region through the following procedure: the committee for selection of innovative projects is formed on the principles of participatory involvement of representatives of all stakeholders - authorities, business, science, education, community, determines the terms of competition and announces the competition; the competition is open to anyone who has ideas on the announced theme; the selection procedure occurs with maximum transparency and the announcement of the criteria, the selected projects receive funding from the local budget at the expense of the development budget; audit. It is envisaged that economic support for the competitive selection of innovative projects is carried out on the basis of partnerships and financial support from local budgets. The following mechanisms have been proposed: public-private partnership financing through equity participation; granting tax exemptions for other taxes paid to regional budgets; investment-oriented tax benefits, which provide for the exemption from income tax on the financial results of enterprises that are not withdrawn from business and reinvested in innovative projects. Conclusion. Implementation of the proposed mechanisms will ensure transparency of the project selection process, competitiveness among applicants, financial support from different sources and taking into account the priorities of innovative development of a particular region.

scholarly journals Assessing the level of competitiveness of the insurance sector during economic crises: The example of Ukraine

2021 ◽  
Vol 12 (1) ◽  
pp. 72-82
Author(s):  
Iryna Tsymbaliuk ◽  
Nataliia Pavlikha ◽  
Olena Zelinska ◽  
Alisa Ventsuryk ◽  
Anna Radko
Keyword(s):  
Capital Investment ◽  
Insurance Industry ◽  
Integrated Analysis ◽  
Regression Equations ◽  
Economic Crises ◽  
Endogenous Factors ◽  
Insurance Sector ◽  
Sector Performance ◽  
Competitiveness Index ◽  
The Impact

In the context of the crisis in Ukraine, it is important to increase the competitiveness of the insurance sector as a measure of its stability and dynamism under various scenarios of economic development. The purpose of this paper is to assess the competitiveness of the insurance sector and determine the impact on its level of factors caused by economic crises. Using the method of integrated analysis, the index of competitiveness of the insurance industry is built, which considers the number of businesses, employment, sales, capital investment in the industry, insurance sector performance, share of profitable enterprises, and profitability of the insurance sector in Ukraine for 2012–2020. The results showed that the impact of the 2014–2015 crisis due to endogenous factors, namely political instability in the country and the devaluation of the hryvnia, led to a significant reduction in the competitiveness index of the insurance sector. At the same time, during the pandemic, the insurance sector is stabilized, as evidenced by the growth of sales and the share of profitable enterprises, as well as increasing profitability of insurance activities. The competitiveness index did not change significantly during the pandemic. To analyze the dependence of the integrated indicator of the competitiveness of the insurance sector on economic fluctuations during the crisis, regression equations are constructed. It is proved that the greatest impact on the competitiveness index of the insurance sector in times of crisis is exerted by changes in employment and the amount of capital investment.

scholarly journals Financial Policy of Innovation Development Providing: The Impact Formalization

2020 ◽  
Vol 4 (2) ◽  
pp. 5-15 ◽  
Author(s):  
Anastasiia , Samoilikova
Keyword(s):  
Regression Analysis ◽  
Research And Development ◽  
Financial Support ◽  
Innovation Activity ◽  
Financial Policy ◽  
Innovative Development ◽  
Innovation Development ◽  
Correlation And Regression Analysis ◽  
Innovation Capacity ◽  
The Impact

This paper deals with the study of the world and European rankings for innovative development. It is emphasized that Ukraine ranks quite low compared to other countries and even its own last year’s results. The dynamics of Ukraine’s position in the Global Innovation Index is presented for the period from 2009 to 2019. The paper focuses on the tendency that innovation activity and the high level of its financial support are concentrated mainly in individual countries and regions. In this regard, the relevance of the determining factors/indicators of the greatest influence and the reasons for the unsatisfactory state of innovation development in Ukraine is substantiated. The purpose of the study is to substantiate and formalize the impact of fiscal policy indicators to ensure innovative development on the overall level of innovative development. In addition, attention is paid to the functional relationship between the level of competitiveness and innovation capacity, a significant positive relationship between the indicators of the country’s innovation capacity and the dynamism of business and financial system, and so on. Methodical tools are methods of correlation and regression analysis. As a result, some hypotheses have been confirmed, not confirmed or partially confirmed. The study empirically confirms and theoretically proves that the percentage of Gross Domestic Expenditure on Research and Development (GERD) in GDP, the share of Gross Domestic Expenditure on Research and Development (GERD) represented by the business sector and the share of Gross Domestic Expenditure on Research and Development (GERD) financed by business, the volume of domestic credit to the private sector and ease of regulation/resolution of insolvency – these indicators have a direct (positive), strong dependence and significance of correlation with the general level of innovative development. Keywords: methods of correlation and regression analysis, financial policy, financial support, financial support, functional dependence, innovative development, innovation index, level of innovation, innovation rating.

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