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Organizational Support of Innovative Infrastructure of National Economy: Resources Aspect

Journal: Scientific Bulletin of Mukachevo State University. Series “Economics” (Vol.4, No. 1)

Publication Date:

Authors : ;

Page : 210-215

Keywords : resource provision; innovation infrastructure; financing; innovation and technological development; government regulation;

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Background of research is due to the need to solve the issues of state regulation, associated with the creation of an effective system of financial support of innovation activity at the state level, regional level and at microeconomic level. The purpose of the article is to assess the existing resource base of organizational and infrastructural support of innovation and technological development of the national economy. By analyzing, systematizing and generalizing scientific works of many scientists, it is founded that in Ukraine the financing of innovative activity usually made by public funds, foreign investment, own resources and other funds rose in the capital market. The conditions of the main trends and financing elements of the innovation infrastructure are researched. The analysis and comparison of statistical data help to found that the financing of innovation activity and the formation of innovative infrastructure was carried out mainly by an expense of public funds, in the other hand by an expense of local and state budgets covered almost half of the total costs of research institutions and organizations, which create innovation and "know-how". The actual levels of indirect state support of innovation activity by providing tax incentives and subsidies are considered and it is revealed failure of these method of government regulation, which can not only lead to the curtailment of research, but also to a reduction in the implementation of existing developments, which can lead to a significant inhibition of innovation development. The features and problems of functioning of market of venture capital in Ukraine are investigated, and the dynamics of the creation of venture capital funds showed that the work of such institutions in Ukraine is popular, although the increase number of these funds does not increase the effectiveness of innovation activity. The key cause-and-effect relationships that cause the failure of financial supporting of innovative development are established. The tendencies of financing innovation and scientific and technological activities are determined and it is argumented, that these tendencies are decreased in recent years. The main reasons for reduction of resource support are established and it is foreseen the negative effects, that entails under-funding of innovation activity and the process of formation and development of innovation infrastructure in Ukraine.

Last modified: 2021-08-19 18:06:03