Bìznes Inform (Sep 2017)
The Budget Strategy for the Investment-Innovation Model of Economic Development
Abstract
The article discloses the role of the budget strategy in ensuring the transition to an investment-innovation model of development of the economy. The article considers approaches to activating innovation processes, improving the existing ones and introducing new fiscal instruments of budget policy to create a favorable investment environment. It has been substantiated that a substantial direction for improving the management of innovative financing should be optimizing the structure of innovative budget expenditures in favor of a qualitative update of production through research work; the optimization of the structure of innovative budget expenditures should be pursued in the light of the country’s innovative development strategy together with government programs to attract investment in the innovative sphere; activating the formation of legal and regulatory support for developing the mechanism of public-private partnership, as well as improving the public procurement instruments, are important tasks. An important factor in the transition to an investment-innovation model of the development of national economy is the quantitative characteristics of the input flow of investments and the qualitative component that is emerging from the needs of the national economy.
