Author (s): Sirenko K., Tovstizhenko O.

Work place:

Sirenko K.,

PhD in Economic Sciences,

Associate Professorof Economics and Social Sciences Department,

Academy of the State Penitentiary Service,Chernihiv, Ukraine;

Tovstizhenko O.,

PhD in Economic Sciences,

Associate Professor of Finance, Banking and Insurance Department,

Chernihiv National Technological University,Chernihiv, Ukraine

Language: Ukrainian

Scientific Herald of Sivershchyna. Series: Education. Social and Behavioural Sciences 2019. № 1 (2): 83–94


The article addresses to the implementation of new technologies and innovations, as the basis of intensive economic reconstruction of the national economy. The analysis of dynamics of GDP (gross domestic product) growth rate and the country’s place in the world economic development ranking is determined. The key international indexes and ratings, in which Ukraine is present, its current position and trends in comparison with previous years are analyzed. Ukraine was the worst in terms of labor productivity, indicating a low level of applied technology and production of low value added goods, and fell into three outsiders by technology. At the same time, it retains a high place in the efficiency of higher education and in patent activity, that is, it has the potential for development.

The study proved that Ukraine is classified as a “Innovator that is being formed” together with Bulgaria, Macedonia and Romania. The analysis shows that Ukraine has significant unrealized opportunities in innovative development, especially as regards for the innovations commercialization in the protection of intellectual property rights. The main advantages of Ukraine are the advantageous geographic location, the large market, the existence of an in-depth and comprehensive free trade zone between Ukraine and the EU and a relatively high level of human development. Estimated innovation activity of industrial enterprises and introduction of innovations on them. In Ukraine, there is a gradual degradation of innovation potential, the number of researchers in Ukraine is rapidly shrinking, the knowledge intensity of the gross domestic product (research and development costs for all sources) was only 0.45%, the dynamics of the number of enterprises engaged in innovation, negative (there is a reduction in the number of enterprises industry that has been innovating. It was investigated that among the regions above the average in Ukraine, the share of innovatively active enterprises was in Kharkiv, Ternopil, Mykolaiv, Cherkasy, Kirovograd, Zaporizhzhya regions and the city of Kyiv.

The study determined that the budget financing of the latest technologies and innovations during the study period was almost non-existent, what is not appropriate for world practice, since the main source of financing for innovation in developed countries is budgetary funds.

Key words: innovations, (GDP) gross domestic product, implementation, innovative development, innovative potential, innovative products, technologies.

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