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Financing Innovation Activity In Ukraine: Realities And Perspectives

Author

Listed:
  • Nataliia Marynenko

    (Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine)

  • Iryna Fedyshyn

    (Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine)

  • Natalia Garmatiy

    (Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine)

  • Iryna Kramar

    (Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine)

Abstract

The role of the European Union (EU) in direct investment into the real sector of the Ukrainian economy is discussed in the article. Activity indicators of Ukrainian industrial enterprises are analyzed. Assessment of the attraction of foreign direct investment from the EU to the real sector of the Ukrainian economy is provided. The correlation between the influence of the total amount of expenditures for financing innovation activity of industrial enterprises and gross domestic product of Ukraine in actual prices is calculated and forecasting of these expenditures by applying the theory of Markov chains is carried out. The research on the basis of correlation-regression analysis between the total amount of expenditures for financing innovation activity of industrial enterprises and gross domestic product of Ukraine in actual prices for the period of 2013-2017 made it possible to establish a sufficiently strong correlation between the indicators (the correlation coefficient is 1), which indicates that the positive dynamics of the increase in the total amount of expenditures for financing innovation activity of industrial enterprises will lead to a positive dynamics of Ukraine’s gross domestic productin actual prices. This, in turn, will improve practically all indicators of the industrial activity of the national economy.

Suggested Citation

  • Nataliia Marynenko & Iryna Fedyshyn & Natalia Garmatiy & Iryna Kramar, 2019. "Financing Innovation Activity In Ukraine: Realities And Perspectives," Economic Review: Journal of Economics and Business, University of Tuzla, Faculty of Economics, vol. 17(1), pages 33-46, May.
    • Handle: RePEc:tuz:journl:v:17:y:2019:i:1:p:33-46
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    References listed on IDEAS

    as
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    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
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    More about this item

    Keywords

    investment; innovation activity; Ukraine; gross domestic product; foreign direct investment; Markov chain;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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