ESTIMATION ECONOMIC AND INSTITUTIONAL FACTORS IN THE CONTEXT OF BALANCED AND INNOVATIVE DEVELOPMENT INDUSTRIAL ENTERPRISES UKRAINE


Keywords: innovation activity, technological entrepreneurship, knowledge economy, balanced development, investments.

Abstract

Topicality. One of the main tasks balanced development industrial enterprises and acceleration of innovative development Ukraine is the transition to an economy based on the productive use of new knowledge. Knowledge itself is a factor in post-industrial development and is an inexhaustible public good, which increases in the process of its use. In such conditions, the creation of proper general economic and institutional factors for the free movement of knowledge, the introduction of information and communication technologies, the effective transformation of new knowledge into new technologies, products and services are very important.
Aim and tasks. The aim of the article is to study and assess economic and institutional factors in the context of balanced and innovative development Ukrainian industrial enterprises.
Research results. The article deals with the main economic and institutional factors of the environment of industrial enterprises in Ukraine. The complex socio-economic situation in the country is revealed, which causes a shortage of financial resources at the disposal of the Government of Ukraine and regional authorities, and which significantly complicates the process of financial support for innovation development by the state. The possibilities of the country for the formation of a "knowledge economy" are revealed. The main directions of improvement of the general economic and institutional environment for the purpose of balanced and innovative development industrial enterprises.
Conclusions. The results of the analysis and assessment of the general economic and institutional prerequisites of balanced and innovative development of industrial enterprises indicate the proper level of all two components of the general economic environment - "freedom of trade" and "fiscal freedom". But unlike them, low-value components such as "state expenditures", "freedom of investment", "financial freedom". Ukraine has extremely low rates of freedom from corruption. As to security and property rights, at the moment, the worst situation is with regard to intellectual property protection and the independence of the judiciary. From the above it can be concluded that the financial system of our country is weak, and its banking and financial sector are not functioning effectively, which in turn does not contribute to the formation of such a general economic environment and institutional, which would financially and lawfully stimulate a balanced and, in particular, innovative technological development entrepreneurship.

Author Biographies

A.V. KARPINSKA

PhD in Economics
Institute of Market Problems and Economic&Ecological Research
of the National Academy of Sciences of Ukraine
French Boulevard, 29, Odesa, Ukraine

V.V. LUKASHCHUK

Institute of Market Problems and Economic&Ecological Research
of the National Academy of Sciences of Ukraine
French Boulevard, 29, Odesa, Ukraine

ANTE RONCEVIC
Associate professor, Ph.D. Department Heads of Department of Business Economics University North, Varaћdin, Croatia

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Published
2018-06-20
How to Cite
KARPINSKA, A., LUKASHCHUK, V., & RONCEVIC, A. (2018). ESTIMATION ECONOMIC AND INSTITUTIONAL FACTORS IN THE CONTEXT OF BALANCED AND INNOVATIVE DEVELOPMENT INDUSTRIAL ENTERPRISES UKRAINE. Economic Innovations, 20(2(67), 69-76. https://doi.org/https://doi.org/10.31520/ei.2018.20.2(67).69-76