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Innovative Approaches In The Economic Sphere

Author

Listed:
  • Andrii Holovach

    (Donetsk University of Economics and Law, Ukraine)

  • Dmytro Pryputen

    (Dnipropetrovsk State University of Internal Affairs, Ukraine)

Abstract

The purpose of the article is to analyse the current state of the economy, to consider the positive and negative tendencies that stand in the way of further economic growth, and to determine on this basis an effective strategy of economic development in the innovation sphere. The subject of scientific research is innovative approaches in the economic sphere. Methodology. Based on the scientific literature analysis of the current economic situation, strategic priorities and goals of economic development were determined, as well as the dialectical method, method of scientific abstraction, methods of system analysis were used. The results of the research showed that there are a number of key economic problems that slow down the development of the national economy for the implementation of international experience in the development of the national economy. At the same time, Ukraine is trying to overcome the negative trends of the economic crisis by carrying out reforms and adopting appropriate strategies for joining the EU. It has now been found that a complex structural transformation of the economy is needed in order to increase the specific gravity of the high-tech and innovative sectors. Practical implications. The complex analyses of the state and the determinant tendencies of economic development according to the threats and risks including the crisis processes in the modern world were carried out. Determination of the basic principles for formulating and implementing economic development strategy based on coordination of strategic priorities and strategic goals of the EU and the necessity to reform the economic sector in order to develop longterm economic spheres. Value/originality. The realized research revealed the state of development of the economic system, as well as further development of identifying perspective trends of the economy, was received.

Suggested Citation

  • Andrii Holovach & Dmytro Pryputen, 2019. "Innovative Approaches In The Economic Sphere," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 5(4).
    • Handle: RePEc:bal:journl:2256-0742:2017:5:4:11
    DOI: 10.30525/2256-0742/2019-5-4-92-96
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    References listed on IDEAS

    as
    1. Sergey Mikhailovich Vasin & Leyla Ayvarovna Gamidullaeva & Tamara Kerimovna Rostovskaya, 2017. "The Challenge of Social Innovation: Approaches and Key Mechanisms of Development," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 25-45.
    2. Oleksandr Yunin & Volodymyr Sevruk & Sergiy Pavlenko, 2018. "Priorities Of Economic Development Of Ukraine In The Context Of European Integration," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 4(3).
    3. Blandine Laperche, 2012. "General presentation innovation processes: why institutions matter," Journal of Innovation Economics, De Boeck Université, vol. 0(1), pages 3-11.
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    More about this item

    Keywords

    economy; economic development; innovative development; European integration; foreign experience;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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