Tkach E., PhD Kolomoychenko O. E.

Oles Honchar Dnipropetrovsk National University (Ukraine)

THE STRATEGIC PRIORITIES OF INNOVATIVE DEVELOPMENT OF UKRAINE

The inclusion of Ukraine into the world economy and the creation of long-term conditions for continuous economic growth determine the necessity of extension and effective use of innovative potential, empowering its implementation process and integrating the national economy into global and regional structures. It is explained by the necessity to achieve the strategic objectives of the new paradigm of Ukraine's foreign economic strategy, a qualitative change in its specialization in the global division of labor due to increased exports of innovative products with high added value, increased provision of high-tech services. The formation of the basic principles of innovative development is identified as one of the major strategic priorities of the economic policy in Ukraine.

Theoretical and practical aspects of strategic priorities and key issues of innovative development of Ukrainian economy are highlighted in the works of such scientists as V. Andreychuk, G. Azarenkov, A. Amosha, N. Botwin, V. Budkin O. Gavrilyuk, V. Geyets, GA Klimko, E. Libanova, Lutsyshyn S. Yu Makogon A. Mohnenko M. Malik, B. Paskhaver, A. Peresada, P. Savluk, I. Topihy, L. Fedulova and others. Among the foreign they are V. Hipel J. Menchu, Schumpeter and others. However, there are a lot of issues about innovative development of Ukraine's economy which remain debatable so it made us choose this topic.

The aim of this work is to highlight the main issues of investment and innovative development and define the strategic priorities for the effective functioning of the national economy.

Today the economy of Ukraine is characterized by many contradictory processes, but more and the issue of comprehensive reorientation and enterprise adaptation to complicated operating conditions based on their investment and innovation activity is becoming more and more important. It is reasonable to define problems and identify strategic priorities for investment and innovative development of the economy correctly for the full functioning of the national economy.

Now available innovative capacity is not enough for sustainable innovation in the whole country, such statement is based on the fact that overall innovation activity can be determined by the number of industrial enterprises that create or implement a variety of innovative products. In general the reorientation of productive capacity for new technologies in Ukraine is lagging, the tendency not updating production capacity continues dominating many industries [1].

The main factor that hinders innovation, is the lack of funding for innovative changes. It is mainly due to low interest of economic entities to invest capital in innovative processes. The other side of this problem is that the government can not permanently subsidized. It is necessary to make mass attraction of private capital and bank crediting and investment of new researches and their implementation. The situation is getting worse due to the absence of organizational and economic mechanisms of massive technological changes investment. The current procedure for funding of state scientific and technical programmers does not usually ensure achieving the specified outcomes. Moreover the executive bodies at various levels use the funds for innovative transformation inefficiently. At the same time, private businesses are not interested in long-term projects that would ensure basic technological changes. In addition, there are also market factors, the dominance of certain enterprises (strong competitors), uncertain demand for innovative goods or services. Markets are saturated; there is a very tough competition and the tendency to reduce production cycle.

Considering this, we can identify the main problems of innovative development at the present stage:

- the absence of real mechanisms that combine available resources, their concentration in the most important and perspective directions of development;

- the absence of relationship between the increase in sales of private enterprises and growth funding of their research and development;

- the innovative policy does not have a clear focus on solving specific economic problems of the regions, in their restructuring, taking into account market factors;

- the outdated organizational structures discrepancies in interests of innovative processes;

- the presence of antimonopoly restriction, tax, patent and licensing legislation;

- the backwardness of material and scientific and technical base [2].

The improvement of economy on the basis of innovative development should happen due to complex usage of all possible instruments of state economic policy. In order to enhance the positive impact of this policy on the dynamics of innovation it is necessary to:

- take measures to improve the state fiscal policy, providing orientation of additional budgets to finance highly technological projects;

- activate the applying for funding of innovative proposals and grant structural funds of the EU;

- take measures to stimulate investment in small businesses (soft loans, special grants);

- stimulate market demand for innovation and the concept usage of "leading" markets that provides market support;

- create a public investment bank to stimulate preferential investment projects in priority areas (with strict control of its activities) [3].

Thus a stable social and economic growth in Ukraine can be achieved only through an active innovative usage of modern science and innovation.

The process of entrepreneurship innovation in Ukraine is still at an early stage, so it is required reforming and improvement. So, in our opinion, Ukraine's top priority of economic development should be focused on a transition to innovative economic model that requires research and usage of foreign experience. The successful implementation and components adoption of innovative models of economic development considerably intensify the reformation of national economy in the way of innovation. We believe that the perspective direction of further study is consideration the experience of the European Union in the context of innovation activity stimulation at the regional level.

The list of references:

1. Макогон Ю. Особливості управління інноваційною діяльністю підприємства на сучасному етапі [Електронний ресурс] /
Ю. Макогон, А. Пересада. – Pежим доступу : http://www.rusnauka.com/22_NNP_2015/Geographia/9_90864.doc.htm.

2. Пенькова О. Г. Проблеми реалізації інноваційної стратегії розвитку України / О. Г. Пенькова // Формування ринкових відносин в Україні. – 2013. – № 9. – С. 99.

3. Мамонтова Н. А. Тенденції фінансування інвестиційної та інноваційної діяльності / Н. А. Мамонтова // Актуальні проблеми економіки. – 2015. – № 12. – С. 118–124.