INNOVATIONAL POLICY IN THE CONTEXT OF CURRENT ECONOMIC GROWTH FACTORS: INTERACTION AND INTEGRATION

Abstract

This article refl ects the authors’ visions of certain modalities of interaction and integration of policies, mechanisms and existing factors of economic growth based on innovation. Institutional reforms should be directed towards changing the paradigm of economic policy in the country and the state will take the initiative to create a favourable environment for business activities which will provide employment, income growth, the export of products with high added value and increase in budgetary revenues. Implementation of innovational policy norms may lead to a number of improvements in the country’s economic activity such as: the creation of new jobs, increasing the competitiveness and productivity of the country’s economy, increase of export potential, the development of innovative SMEs, etc. To do this the policy must be geared towards solving innovative problems aimed at consolidation of innovation capacity at the country level by stimulating all the ways of innovative activity including the attraction of foreign and local investors.

Keywords

• innovation
• innovational infrastructure
• innovational policy
• economic growth
• competitiveness
• innovational smes
• investments in innovations