№ 5/2017

Fìnansi Ukr. 2017 (5): 7–23

PUBLIC FINANCE MANAGEMENT

DANYLENKO Anatolij ¹

¹Institute for Economics and Forecasting of NAS of Ukraine
OrcID ID : https://orcid.org/0000-0002-9753-5831

Key problems of innovative transformation of Ukrainian industry and financial aspects of its promotion in Ukraine

The article examines the issues of innovative renewal of fixed assets and financing of innovative restructuringThe article examines the issues of innovative renewal of fixed assets and funding of innovative restructuring in Ukraine. There is a tendency of aging of fixed assets. Industrial products are characterized by a low share of the innovative component. There is no prudent economic development strategy aimed at achieving national goals, increasing exports and import substitution to ensure an effective investment renewal of industry on an innovative basis. The author considers key aspects of innovation renewal of fixed assets in Ukraine, taking into account objective and subjective factors. It is emphasized that the model of certificate privatization adopted in Ukraine ensured the replacement of the state form of ownership with a private one, but did not create the proper conditions for attracting an effective owner. The paper includes proposals how to address the shortcomings that are holding back the country’s transition to an investment management method. A structured and logical scheme for managing priority investment-innovative projects in the domestic industry is drawn up. It is noted that the work to modernize industry, to increase the effectiveness of scientific research, to support innovation has begun in Ukraine, but innovation costs are not effective enough. It is concluded that there is a need to increase investment in fixed assets, which requires substantial state aid, as well as creating conditions for a significant multiplication of own sources and bank borrowings in the real sector of the economy. It is emphasized that the issue of transition to an investment-innovative model of development should become a state priority. To do this, it is necessary to introduce strengthened state regulation of the promotion of science and innovative re-equipment in promising sectors for the country. It is recommended to use the concept of management, which provides for the denationalization of property, new forms of market relations in which the state will cooperate with private business. For the purpose of funding structural adjustment, it is proposed to form the Development Bank of Ukraine.

Keywords:innovation, investment resources, privatization, investment process, national priorities, state support.

JEL: E22, L33, O31.

Danylenko A. . Key problems of innovative transformation of Ukrainian industry and financial aspects of its promotion in Ukraine / A. . Danylenko // Фінанси України. - 2017. - № 5. - C. 7-23.

Article original in Ukrainian (pp. 7 - 23)

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