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Institutional and financial mechanisms to stimulate technology innovation in industry: the experience of france, lessons for Ukraine

Journal: Scientific and practical journal “Economy of Industry” (Vol.90, No. 2)

Publication Date:

Authors : ; ;

Page : 5-26

Keywords : innovations; industry; banks; financial sector; financial companies;

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The paper provides estimates of consequences of lacking mechanisms for implementing innovative priorities in industry for the economy of Ukraine. It is summed up that the key structural problem of Ukrainian industry is the weak innovation potential, which has worsened the already volatile competitive position of a number of national key industries in world markets.Recommendations for bringing experience and best world practices to Ukraine, in particular - of EU member states with successful national innovation systems and effective tools for attracting private capital in innovation, were critically assessed. The preconditions and key trends of transformations in the policy of financing innovations of key world players (EU, USA, China) are highlighted. The practical experience and institutional transformations’ peculiarities, aimed at activation of innovations financing in France, are generalized.One of the main shortcomings of the existing organizational and institutional management system for research and innovation in Ukraine is the lack of a structure, functionally aimed at industrial and innovative development of the national economy. It is emphasized that the dispersion of the function of formation and implementation of industrial policy (assigned to the Ministry of Economic Development) and innovation (within the competence of the Ministry of Education and Science) resulted in the loss of a number of competencies and positions of national industrial producers in national and foreign markets, as well as weak position in “trade wars”.In order to counteract further degradation of the national industry and increase innovation potential in Ukraine, it is offered to create a fundamentally new, multifunctional body of state industrial management, combining the tools of industrial, technological and innovation policy with education and human capital policy.It is noted that the concretization of the authors’ proposals will require further research both in terms of the existence of "windows of opportunity" that do not open at the stages of changing technoeconomic paradigms, and the real potential of institutional transformations in Ukraine.

Last modified: 2020-07-15 19:04:32