THE IMPACT OF INNOVATIVE DEVELOPMENT OF INDUSTRY ON ECONOMIC GROWTH IN UKRAINE
Abstract
This article investigates the critical impact of innovative industrial development on fostering economic growth in Ukraine, particularly within the challenging context of ongoing conflict and the imperative of post-war reconstruction. The study delves into the multifaceted relationship between innovation, productivity, competitiveness, and export potential, emphasizing the pivotal role of innovation in driving economic recovery and sustainable growth. The research analyzes the current landscape of innovation activity within Ukrainian industrial enterprises, identifying key obstacles and opportunities. It underscores the persistent challenges posed by limited investment in research and development, restricted access to financing, a shortage of qualified personnel, underdeveloped innovation infrastructure, and inadequate intellectual property protection. The study also acknowledges the impact of the ongoing conflict, which has led to the destruction of production facilities, disruption of supply chains, and the loss of skilled workforce, further complicating the pursuit of innovation-led growth. Drawing on established theoretical frameworks such as the "Triple Helix" model, the research examines the complex interplay between universities, industry, and government in fostering innovation ecosystems. It highlights the need for strengthened collaboration and knowledge transfer between these actors to facilitate the translation of research into commercial applications. Furthermore, the study critically evaluates the role of state policy in stimulating industrial innovation, analyzing the effectiveness of existing support mechanisms and identifying areas for improvement. It emphasizes the importance of creating a favorable investment climate, streamlining regulatory frameworks, and promoting transparent governance to attract both domestic and foreign investment in innovation-driven initiatives. By examining international best practices and successful case studies, the article explores strategies for adapting and implementing effective innovation policies tailored to the unique circumstances of Ukraine. It highlights the potential of leveraging global expertise and partnerships to accelerate technological advancement and enhance competitiveness in strategic sectors. In conclusion, the article advocates for a comprehensive and multi-faceted approach to revitalizing innovation in Ukraine. It underscores the urgency of investing in human capital development, expanding access to finance, strengthening intellectual property rights, and fostering a culture of collaboration between academia, industry, and government. By implementing these recommendations, Ukraine can unlock its innovation potential, enhance industrial competitiveness, and pave the way for sustained economic growth and prosperity in the face of adversity.
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