THE ROLE OF INNOVATION IN THE DEVELOPMENT OF UKRAINE'S COMPETITIVE ECONOMY IN THE CONTEXT OF GLOBALIZATION

Abstract

Introduction. Today, innovation is becoming a strategic growth factor that can influence the structure of public production, the economic organization of society and the stabilization of the social situation in the country. The world market is constantly striving to erase physical borders between countries and establish a common economic space around the world. But at the current stage of development of Ukraine it is not fully beneficial to participate in globalization due to insufficient level of competitiveness.

Hypothesis of scientific research. It is assumed that, unlike developed and developing countries, Ukraine not only lacks effective large companies of the world level, but also suffers even more from the lack of growing, promising companies in new high-tech industries.

The purpose of the article is to study the relationship between globalization and competitiveness and its peculiarities for the Ukrainian economy.

The research methodologyis based on fundamental and applied research in the field of innovative growth of competitiveness of the economy in the context of globalization, materials of the state statistics service, materials of other official sources and Internet resources. In the course of the research the methods of systematization, comparative analysis, statistical methods were used.

Results: it is revealed that the main problems faced by the economy of Ukraine are mainly related to the lack of a strategy to find methods of economic development, a clear prospect of a way out of the economic crisis, which is due to political instability and low investment attractiveness.

Conclusions: It has been proved that the requirement of development of international and state economy testifies to the importance of elaboration of official policy in the sphere of competitiveness in Ukraine. Innovative development is the only prerequisite for ensuring the economic independence of Ukraine, to develop competitive advantages that will overcome the existing gap with the advanced competitive states.