№ 2/2018

Fìnansi Ukr. 2018 (2): 48–71https://doi.org/10.33763/finukr2018.02.048

FINANCIAL AND ECONOMIC REGULATION

SOKOLOVSKA Alla ¹, PETRAKOV Jaroslav ²

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-1022-8215
²Chernihiv National University of Technology
OrcID ID : https://orcid.org/0000-0001-9123-0642

Foreign models of science funding

The relevance for Ukraine to study the modern models of science funding in countries-innovation leaders is grounded in view of the importance of searching for the ways of reforming the national scientific system, which is characterized by both a low level of funding and the inefficient use of funds allocated to its development. The purpose of the article is to determine the features of the science funding mechanisms in the EU countries on the basis of the analysis of modern models of its funding. The article provides a comprehensive analysis of elements of the science funding mechanism in the EU countries, which includes: generalization of the main archetypes of funding models (with a predominant share of investment from business, with a predominant share of investment from the government, with a predominant share of investment from external sources), its methods (institutional and project), and instruments (grants, subsidies, support agreements, equity participation, debt instruments – loans, guarantees, compensation grants). The differences between the models of funding R&D at the expense of the state, private funds and mixed funding are substantiated in the context of the purpose, subject, conditions and funding agents. The current trends in funding of science and education sectors in the EU and OECD countries are identified: a) transition from funding based on historical or projected data to the model of "estimated" funding based on results; b) transfer of all organizational and service functions from the ministries to authorized agencies that implement public policy in the context of the established priorities and objectives; 3) combination instruments of the policy on R&D and innovation; 4) introduction of new funding schemes and instruments; 5) creation of new centers of excellence and new agencies responsible for the allocation of resources; 6) an increase in the number of recipients of funding for projects selected on a competitive basis. It is established that the effectiveness of science is determined not only by access to sources and the efficiency of the use of financial resources but also by the combination of efforts of various stakeholders: government, science, business, and communities.

Keywords:national innovation system, system of science funding, institutional funding, project funding, instruments of science funding

JEL: I23, I23, O30, O32

Sokolovska A. . Foreign models of science funding / A. . Sokolovska, J. . PETRAKOV // Фінанси України. - 2018. - № 2. - C. 48-71.

Article original in Ukrainian (pp. 48 - 71)

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