Innovative development of countries: methodology

Abstract

This article analyzes the efficiency of innovative activity across countries and industries. Innovation determines the vector of development of the subject. They form a complex of practical inquiries, define scarce aspects in the functioning of organizations. However, the generation of new ideas is based on a detailed, clear system of actions: the study and analysis of the situation on the market, the demands of society, the formation of an algorithm for creating innovative solutions, schemes for their implementation in the practice of organizations. In the article, the authors proposed a methodology for assessing the level of innovative development of the country. The methodology is based on the use of quantitative indicators in three areas: the effectiveness of the use of labor resources; efficiency of the use of financial resources; efficiency of the use of invested funds. The authors offers his interpretation of the concept «model of innovation development». Tools for the quantitative assessment of level of innovative development of countries and formation of the vector of economic development based on indicators grouped under the following three components were developed: labor, productivity and cost. This study also investigates the structure of domestic expenditure on innovation in the main sectors of investment (by country). Based on the testing of the developed tools, recommendations for the innovative development of the country are offered. A set of quantitative indicators will allow performing a qualitative analysis of the dynamics of the country's development in the innovation vector of functioning, identifying weaknesses (existing shortcomings) in activities. This will allow to form a set of effective recommendations on the activation of innovative activities in the country with the aim of raising the level of competition.

International Investment Activity in the Context of the Foreign Relations of Ukraine with Countries of the European Union

“…The domestic strategy in the field of foreign relations shows that international investment activity is not limited to creating favorable conditions for investment activity (Klimuk, Kochurko, 2018), but also includes an active role of the state government in shaping the system of long-term investments in the economy (Nepryadkina, 2019).…”