The impact of innovation development index on the state of economic development and business environment of Ukraine

Chernyshov Oleksandr
PhD in Economics, Associate Professor of Branch Management Department, Mariupol State University, Ukraine, e-mail: s.chernishov@i.ua, ORCID ID: https://orcid.org/0000-0003-0422-2252

Pavlovska Yuliia
Postgraduate Student of Branch Management Department, Mariupol State University, Ukraine, e-mail: yuliya.dnepr124@gmail.com, ORCID ID: https://orcid.org/0000-0002-5348-477X

Cite this article:

Chernyshov, O., Pavlovska, Yu. (2022). The impact of innovation development index on the state of economic development and business environment of Ukraine [Vplyv indeksu innovatsiinoho rozvytku na stan ekonomichnoho rozvytku ta biznes-seredovyshcha Ukrainy], Socio-economic research bulletin, Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 1-2 (80-81), рр. 145-162.

Abstract

The article considers the problems of innovative development as a kind of economic development, as well as the peculiarities of the country’s business environment through the prism of competitiveness, which covered all aspects of studying the main ways of solving problems of the Ukraine’s development. Analytical data of the Global Innovation Index, Bloomberg Innovation Index, Global Competitiveness Index, and Global Talent Competitiveness Index are used to analyze the innovative development of Ukraine. The mechanism of innovation index creation, its transformation, current state and problems facing it are shown. It is demonstrated that along with the development of innovations, intellectual property is being developed through the expansion of the possibilities of patenting inventions and industrial designs. Particular attention is paid to the issues of both the already solved problems of economic development and new, as well as the ways of their implementation. It is noted that the state innovative development preserves the best practices from ideas of V. Geitz, V. Seminozhenko, B. Kvasnyuk, O. Amosha. The dynamic growth of the country’s innovative sector of the economy has been clearly demonstrated, which over the past two decades has put Ukraine on a par with the leading countries of the European Union. It is noted that Ukraine is a world leader in many types of heavy industry and agricultural products, but at the same time focused on the need to increase the innovative products in order to make the economy less dependent on exports in the future. The idea is justified that the modern development of the economy’s innovative sector increasingly requires finding for new ways to raise the sphere of intellectual property, which should be integrated into new processes of digitalization and the country’s development strategy.

Keywords

level of innovative development; competitiveness of the enterprise and the state; innovation index; intellectual potential; Intellectual Property; patents and inventions; COVID-19 pandemic.

JEL classification:A100; F200; DOI:https://doi.org/10.33987/vsed.1-2(80-81).2022.145-162

UD classification: 351:001.895

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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