INNOVATIVE DEVELOPMENT OF UKRAINE’S ECONOMY IN THE CONDITIONS OF DIGITALIZATION: INSTITUTIONAL AND INFRASTRUCTURE PROVISION, HUMAN AND TECHNOLOGICAL POTENTIAL
DOI:
https://doi.org/10.35774/jee2024.03.490Keywords:
innovative economy, digital transformation, institutions, institutional transformations, digital technologies, business mobility, market infrastructure, human capital, scientific and technical development, business sophistication, knowledge, creative activity.Abstract
In the conditions of digital transformation, the key factor in the development of the country’s innovative economy is its ability to dynamically change and adapt to the current state of the market, in particular through institutional transformations, the introduction of digital technologies and the adoption of innovative decisions. Innovative approaches to the harmonization and improvement of the efficiency of economic processes in the era of digitalization require a systematic and in-depth analysis of current trends in the development of digital technologies, the innovative economy, and the virtual market. The general level of innovativeness of the economy is currently determined taking into account the following aspects: institutional support, human capital and scientific research, market infrastructure and market development, business development, creative work results, knowledge and technical inventions. Ukraine ranks 55th in the Global Innovation Index 2023 innovation rating, which is due to the conditions of martial law, and eco nomic difficulties. Changing the status quo in Ukraine is possible through even deeper implementation of modern digital technologies in the economic life of the country, complex institutional changes, creation of an innovative ecosystem for business, active formation of digital platforms for economic development, formation of Industry X.0. The development and implementation of innovative economic growth strategies lay the foundations for increasing the country’s competitiveness in the era of digital transformations, and ensure long-term prosperity.
JEL: E11, H54, O14, O15, O30, O33, M10.
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Received: June 19, 2024.
Reviewed: June 28, 2024.
Accepted: August 27, 2024.
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