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Regional Features of Foreign Experience of Investment Support of Innovative Transformations: The Specifics of Financing Research and Development Activities
Matrunchyk D. M., Lakas V. V.

Matrunchyk, Dmytro M., and Lakas, Veronica V. (2023) “Regional Features of Foreign Experience of Investment Support of Innovative Transformations: The Specifics of Financing Research and Development Activities.” Business Inform 12:58–64.
https://doi.org/10.32983/2222-4459-2023-12-58-64

Section: Foreign Experience

Article is written in Ukrainian
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UDC 332.1:338.2

Abstract:
The article substantiates the expediency of borrowing advanced foreign experience of investment support of innovation activity to accelerate the processes of innovative transformations in the regional economic complexes of Ukraine in order to ensure accelerated post-war recovery and formation of the sector of high-tech industries. The authors summarize the best foreign experience (the USA, Japan, Germany) in financing research and development (R&D) in the context of the main trends in the development of the global economy. It has been found that the models of investment provision of innovation activity in the United States, Japan and Germany differ both in terms of subject-object base and in terms of financing priorities regarding the development of the material and technical base and the formation of human resources for university science and the research industry of the corporate sector. It is determined that in the context of interweaving of national economies and formation of international network structures, the key actors in financing innovation activities are transnational corporations, which, due to the high level of concentration of investment potential, finance the most capital-intensive innovative projects, thus decisively affecting the modernization of the basic links of the economies of the advanced countries of the world and the pace and scale of development of the natural wealth of the world economy. It is substantiated that in the context of borrowing advanced foreign experience for the domestic practice of financing innovative developments at the regional level, it is worth adopting the experience of financial and investment support for innovation activities in the Federal lands of Germany. It is proved that the implementation of the experience of financing innovation activities in the German Federal lands, specializing in the development of the agricultural sector, processing and food production and woodworking, will allow the regions of Ukraine of agrarian specialization to form poles of economic growth and ensure the effective use of local labor, production, technical and natural resource potential. It is substantiated that in the context of the deficit of local public finances, the basis for stimulating innovative development at the regional level is the creation of cluster-type network structures, allowing to consolidate the efforts of local authorities, higher education institutions, research institutions, design organizations and financial and credit structures in the direction of producing innovative products and their implementation in the practice of production, economic and commercial activities.

Keywords: investment support, innovative transformation, research and development activities, region, regional economic complex, implementation.

Fig.: 1. Bibl.: 10.

Matrunchyk Dmytro M. – Candidate of Sciences (Engineering), Candidate on Doctor Degree, Department of Finance, Banking and Insurance, Lutsk National Technical University (75 Lvіvska Str., Lutsk, Volyn region, 43018, Ukraine)
Email: [email protected]
Lakas Veronica V. – Postgraduate Student, Department of Economics, Lutsk National Technical University (75 Lvіvska Str., Lutsk, Volyn region, 43018, Ukraine)

List of references in article

Savastieieva, O., Zhuravlyova, T., and Skliarov, D. “Derzhavna finansova pidtrymka innovatsiinoi diialnosti v natsionalnykh umovakh neoindustrialnoho rozvytku“ [State Financial Support of Innovation in the National Context of Neo-Industrial Development]. Ekonomika ta suspilstvo, no. 35 (2022). DOI: https://doi.org/10.32782/2524-0072/2022-35-31
Sutormina, K. M., and Osadchyi, Ye. S. “Efektyvnist finansuvannia innovatsii: mizhnarodnyi dosvid“ [The Effectiveness of Funding Innovation: International Experience]. Efektyvna ekonomika. 2016. http://www.economy.nayka.com.ua/?op=1&z=5263
Shlapak, A. V. “Merezheva model doslidzhennia innovatsiinoi diialnosti SShA“ [The US Network Innovation Model]. Problemy ekonomiky, no. 3 (2019): 23-28. DOI: https://doi.org/10.32983/2222-0712-2019-3-23-28
Rhodes, A. “United States Exceeds $700 Billion in Gross Domestic Expenditures on R&D in 2020“. https://ncses.nsf.gov/pubs/nsf23346
Gowder, C. “Useful Stats: US leads the world in GDP, falls behind in R&D intensity“. https://ssti.org/blog/useful-stats-us-leads-world-gdp-falls-behind-rd-intensity
“How do German businesses compare internationally?“ https://www.research-in-germany.org/en/research-landscape/r-d-companies-business-germany/How-do-German-businesses-compare-internationally.html
Saito, J. “Performance of Japan's R&D“. https://www.jcer.or.jp/english/performance-of-japans-rd
Gibbons, M. T. “Federally Funded R&D Centers Spent $26.5 Billion on R&D in FY 2022“. https://ncses.nsf.gov/pubs/nsf23348
“Research and development expenditure at new record high in 2021“. https://www.destatis.de/EN/Press/2023/03/PE23_089_218.html
“Research and Innovation“. https://www.datenportal.bmbf.de/portal/en/research.html

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