THE THEORETICAL ASPECTS OF THE RESEARCH OF THE CONCEPT “INTERNATIONAL ECONOMIC RELATIONS”

Анотація

The article analyzes the issues of innovation model of Ukraine's development in the strategic perspective. It is emphasized that modern paradigm of competitiveness defines innovation as one of the priority areas of sustainable development of the state. The place of domestic economy in global innovation processes is researched. The features of venture capital movement in the world are determined. It is concluded that due to a balanced state policy there is an opportunity to significantly increase the innovative potential of the economy, to stimulate innovative business activity. It is the state that must create the appropriate conditions for the widespread use of the latest factors of production -science, knowledge and information -for development. The features of innovation processes at macro and micro levels in our country are studied. The chronic deficit of government finances actually eliminates the role of centralized sources in financing of innovative development. The reasons of low innovative activity of business in Ukraine at the modern stage are disclosed. It is argued that the long-term orientation of the state of supporting traditional industries has not justified itself and has strengthened Ukraine's dependence on "external shocks". The place and role of institutional investors in financial support of innovations in Ukraine are analyzed. The features of institutions of collective investments functioning in innovation processes at the level of domestic economy are researched. It is concluded that the fixation of the requirements to venture investment funds in Ukrainian legislation does not actually correspond to the established practice of venture business development in developed countries. Domestic venture investment funds are typically used to optimize financial flows and service a variety of projects that have little connection with venture business. Practical recommendations directed at improving of venture investment funds activities in Ukraine, taking into account foreign experience, are justified. In particular, it is recommended to change regulatory requirements for venture investment funds by adopting special law on venture business in Ukraine and clearly identifying the requirements to their investment strategy.

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