INNOVATION ECONOMY AND ITS INSTITUTIONALIZATION

The necessity of institutionalizing the innovation environment as an objective need at the stage of the Ukrainian economy systemic modernization is proved in the article. The reasons, causing the need for creation of such an environment are determined. Innovation infrastructure of economy is studied and the need to institutionalize formation of a high innovation and investment level in Ukraine in paradigm of global development is justified. Key segments of innovation economy infrastructure are pointed out. Institutional transformation at the stage of innovative economy formation in Ukraine will allow іts adaptation to the requirements of global information world society, to continuously improve economic behavior of business entities, to provide mechanisms of market self-organizing for production and industrial complex of Ukraine, to promote small and medium entrepreneurship. It can be achieved by creating an efficient institutional system with a strict hierarchy of values in the dominant system of mores, traditions, laws (formal and informal rules) and moral standards. The structure of national innovation system should be composed of the two parts: the institutional part and the research and manufacturing one. Only with efficient relationship and interaction of the above parts, Ukrainian innovation system can achieve the expected positive results. Innovation infrastructure of Ukraine includes the mechanisms and instruments of innovation economy, a set of interrelated, mutually reinforcing and interacting production and technical systems, enterprises and organizations and appropriate organizational and management systems (institutions), that are necessary for efficient innovative activity for implementation of innovations and economic growth in the country and improving the living standards of Ukrainians. Innovation infrastructure of Ukraine is a binder, a unifying link between the results of scientific research performed by business and government, innovator and market and are manifested in their efficient interaction through commercialization of innovations.