Global factors influencing the innovative development of the national economy

Issue: № 3/1, 2020

Doi: https://doi.org/10.37634/efp.2020.3(1).6

The article is devoted to the study of global factors influencing the innovative development of the national economy, which aims to support Ukraine's global competitiveness. The article defines the internal prerequisites for the innovative decline of economic sectors of the national economy which result in social, economic, political, scientific losses, and, as a consequence, reduced demand for research activities, reducing the effectiveness of research and the pace of innovation development of the national economy as a whole. An innovative type of economy aims at maximizing the economic impact of every new or improved technology and idea. It is complex and is characterized by the introduction of fundamentally new technologies and a rethinking of the importance of components in every area of economic activity. The main purpose of the paper is to study the dynamics of innovation processes of the national economy, the factors influencing the innovative development of the national economy. The level of implementation of innovative technologies remained low. A considerable part of material and human resources is directed to ensuring the effective activity of the Armed Forces of Ukraine, modernization of military equipment, training of military specialists in universities and more. The long duration of hostilities in the East, the volatility of the exchange rate, the need for constant upgrading and constant upgrading of military equipment - these and other factors are inefficient spending of budget funds. Also, in recent years there has been a high interest of the population to emigrate to other, more developed countries. The loss of such categories of workers has a negative impact on the age and educationally-qualified staff structure and the pace of development of the national economy. Ukraine's IT outsourcing market has great potential, and its products can cause structural changes that will shape new trends in the Ukrainian economy. This industry has achieved such success through the constant modernization of old and the creation of new technologies and products. The most important factor contributing to the continuous development and supporting the competitiveness of the IT industry in the world market is the stimulation of creative development. Therefore, creative capacity-building should be carried out at a high level in institutions represented by the education and training system and implemented in the process of innovative development.

Keywords : innovative process, innovations, financing innovation, influencing factors

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