Baltic Journal of Economic Studies (Aug 2023)
SCIENTIFIC FOUNDATIONS FOR THE FORMATION OF A SYSTEM OF FINANCING INNOVATIVE ECONOMIC DEVELOPMENT
Abstract
A study has been conducted, the actualisation of which is aimed at solving problems arising in the process of financial support for the implementation of the innovative model of economic development of Ukraine and the participation of banks and other participants in the innovation process. The purpose of the article is to develop a methodological basis for the formation of a system of financing innovative economic development. Methodology. The information base of the study is the official statistical sources and the results of scientific works of leading foreign and domestic scientists. The following methods were used: system methodological approach, synergetic, analytical and synthetic approach; comparison and systematisation; observation; graphic method; logical generalisation. Results. The study highlights the general methodological provisions (purpose, objectives, functions, principles and object), which became the basis for the formation of the system of investor financing of innovative economic development. Value/оriginality. For the first time, the components of the system of financing the innovative development of the economy are specified, i.e., the levels, subjects, objects, purposes and instruments of influence. Macro-, meso- and micro-economic levels are identified, which are considered as a whole and are interrelated. Each of the economic entities contributes to the financing of innovative economic development within the framework of its objectives and instruments of influence. Practical implications. The application of the proposed system of financing the innovative development of the economy will ensure a synergetic effect, the implementation of the strategic goals of innovative development, the realisation of the economic interests of the state and the participants in the innovation process.
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