DOES INNOVATION IS DRIVING FORCE? ANALYSIS AND CONTROL FOR EU, POLAND AND UKRAINE

• Published in: Fìnansovo-kreditna dìâlʹnìstʹ: problemi teorìì̈ ta praktiki (Online) 2018-12, Vol.4 (27), p.111-121
• Main Authors: Gajda, W., Kuznetsov, A. A., Kuznetsova, S. A.
• Format: Article
• Language: English
• Subjects: comparative analysis; control; innovation; innovation index; innovation scoreboard
• ISSN: 2306-4994; 2310-8770
• DOI: 10.18371/fcaptp.v4i27.154075

The aim of the article is to present condition of innovativeness for Poland as Moderate innovator and Ukraine as modest inovator. The essence and role of innovation was observed for contemporary world economy. The data assessment has been provided in the over last 7 years, it means in period from the year 2010 to 2017. Innovation of the Polish and Ukrainian economies was analyzed on the basis of 27 particular indicators. The method of comparative analysis was used to pursue the adopted aim. Performance for Ukraine and Poland was analyzed and controlled relative to European Union 2017 and 2010. The latest and the most reliable assessment tool, i.e. Innovation Scoreboard2018, a regular document prepared upon the request of Directorate-General for Enterprise and Industry, European Commission was used to conduct the analysis. The analysis of the dynamics was carried out and the main trends were revealed for innovation in composite indicators. Despite the fact the EU is the obvious leader, Poland which in fact is the part of it, in certain indexes approached EU’s performance. In those indexes as innovation-friendly environment, employment impacts and firm investments Poland being a part of the EU became almost equal to it.Ukraine is the best in Human resource index among all of them but has the worst intellectual assets index. The most significant rise was in the EU in innovation-friendly environment index. Assessment and recommendations for raising innovativeness were formed for the analyzed economies. As a result, reasons of significant difference between Ukraine and Poland were identified. Ukraine is in the ‘Modest Innovators’ group with the worst indicator. In contrast to Ukraine, Poland is one of the ‘Moderate innovators’ with almost twice as big as Ukrainian index. The complex approach to use innovation as driving force for economies must include: increase of the level and efficiency of education at schools and universities; research and development of modern technologies; increase of conditions of running economic activity, adequate building of capital for innovation as well as regular increase of expenditures on R&D move to the strategy of creation of own knowledge, creation of competitive advantage based on the latest innovative achievements thus launching original, own solutions and fresh knowledge on the global market.