Model of Innovation-Oriented State Economic Policy

Vera I. Menshchikova, Aleksey V. Sayapin
European Research Studies Journal, Volume XIX, Issue 1, 189-200, 2016
DOI: 10.35808/ersj/514


Among all the tendencies, characterizing major lines of development of the modern global economy, the tendency of national states towards strengthening of social and economic interdependence and extension of their economic relations is gradually moving to the foreground. This can be observed in the boost of volume and sophistication of nomenclature of the international exchange of goods and services between countries, as well as the extension of the international division of labour, and subsequently – acceleration of development of international cooperative production, increase of interdependence between national economies and their integration. Due to this, national economy may develop effectively only by dynamic interaction with the world market of goods and services. Taking high international rivalry into account, innovation activity serves as one of the most powerful and effective instruments of supporting and maximizing the competitive capability of enterprises as individual ones and national economy as a whole. To encourage innovation activity of enterprises, an efficient model of innovation-oriented state economic policy is needed.

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