№ 11/2017

Fìnansi Ukr. 2017 (11): 47–64

FINANCIAL AND ECONOMIC REGULATION

KRUPKA Mykhailo ¹, DEMCHYSHAK Nazar ²

¹Ivan Franko National University of Lviv
OrcID ID : https://orcid.org/0000-0002-8775-1397
²Ivan Franko National University of Lviv

Modern paradigm of financial regulation of innovative activity in Ukraine

Trends in the development of national economies in the modern globalized financial space are conditioned by the need to increase the competitiveness of countries. The purpose of the article is the justification of the modern theoretical paradigm of financial regulation of innovation processes and practical recommendations for its evaluation and increased efficiency in Ukraine in order to strengthen the competitiveness of the national economy. The article is based on the following methods: scientific abstraction, analysis and synthesis, grouping and systematization, statistical methods, and methods of economic-mathematical modeling. The theoretical paradigm, the basis of which is the position of the theories of finance, management, state regulation, innovation, institutionalism and the concept of a national innovation system, should be the scientific basis for the formation of a modern strategy of the financial regulation of innovative activity. It is proposed to interpret the financial regulation of innovation activity as a coherent comprehensive legislatively regulated application of budget and tax instruments for state institutions to influence the functioning of the national innovation system due to the innovative potential and level of innovation security in the country, aimed at increasing competitiveness and approving the innovative model of socio-economic development. This system is considered as a set of relations for the creation, dissemination and use of innovations within a certain country, determined by national socio-cultural, geopolitical features and strategies for economic development. The state and dynamics of innovation activity indicators in Ukraine are analyzed. Methodical approaches to the determination of the level of budget financing of scientific and technical activities for minimizing the risks of financial regulation are formulated. Practical recommendations for assessing and improving the effectiveness of financial regulation of innovation in Ukraine are substantiated to improve the competitiveness of the domestic economy. Using the obtained theoretical and scientific-applied results in the realization of the state financial strategy will enable to form an effective system of financial regulation of innovative activity in Ukraine, taking into account European integration processes.

Keywords:theoretical paradigm, financial regulation, innovative activity, national innovation system, competitiveness, knowledge economy

JEL: G32

KRUPKA M. . Modern paradigm of financial regulation of innovative activity in Ukraine / M. . KRUPKA, N. . DEMCHYSHAK // Фінанси України. - 2017. - № 11. - C. 47-64.

Article original in Ukrainian (pp. 47 - 64)

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