FORMATION OF INNOVATION-INVESTMENT INTEGRATION STRATEGY FOR INDUSTRY DEVELOPMENT UNDER GLOBALIZATION CONDITIONS
Journal Title: Baltic Journal of Economic Studies - Year 2018, Vol 4, Issue 5
Abstract
The main conditions of industry sustainable development in the globalization conditions include macroeconomic stability in the national space, competitiveness and the internal and external environment efficiency. Solving the strategic tasks that will ensure the industrial complex development, especially in the global macroeconomic space, essentially depends to a large extent on innovation, investment, and integration activities, representing the priority directions in the international environment transformation context. Scientific engineering and technological progress is the driving force enabling the industry development in the national macroeconomic environment. In this aspect of the globalization transformations context, a particularly important role is given to innovation, investment, and integration processes. The purpose of this article is justification of theoretic and methodical bases of forming of innovative-investment integrated strategy for Ukrainian economy’s industrial sector development under globalization conditions, aimed at supporting the priority achievement of the strategic orientations of the national economy in the context of the European vector of development, taking into account the influence of the factors of the internal and external macroeconomic environment. Methodology. Materials of periodicals, analytical reviews, statistical data, resources of the Internet are the informational and methodological basis of the investigation. The research is based on general scientific and special methods, such as: monographic investigation, generalization, systematization, decomposition, factor analysis, economic-statistical analysis, logical-meaningful modelling. These allowed outlining the basic features and principles of the native industrial economy sector innovative-investment integrated strategy forming under the globalization conditions. The results. Innovation-investment integration strategy is a strategic document for the priority development of the industrial sector of the national economy. This is the source of the accumulation of strategic information and management methods for the future sustainable position of the industrial sector of the country. The developed methodical principles of forming an innovation-investment integration strategy for industry development under globalization conditions provide a phased decomposition of the strategic purpose, which provides an opportunity to determine the most effective directions of industry development, taking into account the input and output parameters of the strategy. The strategy allows assessing the export potential of the national economy’s industrial sector, to form export-import orientations and an adequate mechanism of foreign economic activity under conditions of the free trade zone development with the European Union countries and other international environment countries. Practical implications. The process of forming an innovation-investment integration strategy in the national economy industrial segment will enable the development of appropriate elements of the macroeconomic environment under globalization conditions. Value/originality. The strategy elaborates on how strategic management of innovation and investment integration processes in the industry will take place to ensure its effective functioning. Innovationinvestment integration strategy allows assessing the export potential of the national economy’s industrial sector, forming an export-import strategy and an adequate mechanism of foreign economic activity under the free trade zone development with the European Union countries and other countries of the international environment.
Authors and Affiliations
Yurii Melnyk, Lidiia Voloshchuk, Tetiana Stepanova
Keywords
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- EP ID EP663698
- DOI 10.30525/2256-0742/2018-4-5-217-227
- Views 82
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