CONCEPTUALIZATION OF ECONOMIC POLICY SUPPORT FOR INVESTMENT AND INNOVATIVE DEVELOPMENT OF ENTREPRENEURSHIP
Abstract
The article is devoted to the topical issue of determining trends in the development of innovative entrepreneurship in the innovation ecosystem. The tools of Ukraine's wartime economic policy are considered, in particular the effectiveness of state business relocation programs, the placing of state orders for military or dual purpose products, as well as the decisions made regarding business deregulation. It was found that entrepreneurship needs institutional support, which is proposed to be oriented towards ensuring the transformational goal of innovative development of the economy, directing innovations into socio-economic revival. The institutional limits of state intervention in the processes of investment and innovation activity of entrepreneurship are defined, in particular, the liberalization of entrepreneurship, the activation of interstate cooperation, the acceleration of digitalization and the creation of innovative markets. It is suggested that the formation of impact goals be based on the results of the general dynamics of investment and innovation activity of entrepreneurship, since the target function of investment activity is implemented by strengthening competitive positions and reducing vulnerability to adverse financial factors. This will make it possible to activate investment processes in the economy to combine the processes of post-war recovery with the structural transformation of industries due to the development of knowledge-intensive production. The investment goals are the modernization of the management of economic processes and the development of industries capable of functioning in the conditions of a global competitive environment in combination with the development of tools for countering existing challenges and threats, regulatory measures are suggested to be evaluated indicatively from the standpoint of their effectiveness. The proposed conceptual scheme of the economic policy of stimulating investment and innovation activity of entrepreneurship flexibly combines administrative and economic levers of regulation. The task of effective recovery of the Ukrainian economy requires solving long-term structural problems, which necessitates further research in the field of innovation and investment support for the development of domestic entrepreneurship.
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