Strategic Innovation as a Factor of Adaptation of National Economies to the Development of Global Value Chains

Abstract

In age of sustainable development, strategic innovations have become the most important factor in the adaptation of national economies to dynamic global changes, encompassing trade and economic relations between the leading and developing countries of the World. At the same time, the task of this study was to reveal the complex and contradictory role of strategic innovations in the development of national economies against the background of the transformation of global value chains (GVCs). Main methods for solving the problem were empirical methods of comparative and structural analysis, as well as econometrics. The study analyzed 44 countries classified by the World Bank in the group of countries with per capita incomes below and above the average, as well as with high income. Results of the calculations made it possible to establish a highly differentiated relationship between the share of products manufactured by foreign companies operating in the host countries, on the one hand, and indicators of the dynamics of foreign direct investment (the number of researchers engaged in R&D, the number of technical specialists involved in research and development (R&D), the cost of research and development in the territory of the host countries), on the other hand. This made it possible to determine the role of strategic innovation in the adaptation of national economies. The established dependencies expand the understanding of the role of strategic innovations in the formation and further development of global value chains and their significance in evolution: from process and product innovations of individual companies to the formation of global innovation ecosystems.

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