DETERMINANTS OF INNOVATIVE DEVELOPMENT OF NATIONAL ECONOMIES IN GLOBALIZATION CONDITIONS

The article deals with theoretical approaches to the essence of innovation development, its role in the formation and enhancement of international competitive advantages of the national economy in world markets. The problems of innovative development in the countries with a transformational economy, in particular Ukraine, are analyzed, the role of globalization in modern world processes is emphasized. The main factors of formation of innovation competitiveness of the national economy are investigated. Their influence on the development of innovation environment in Ukraine is considered. On the basis of the analysis, the ways of improving the innovation and investment climate in Ukraine and the possibilities of its integration into the world economic, scientific and technological space are outlined. The necessity of forming a long-term competitive strategy for Ukraine and carrying out radical reforms as the basis for the implementation of sustainable innovation development is substantiated. Modern tendencies in the development of production of innovative and high-tech products in Ukraine are researched. The results of using innovative potential in the development of high-tech branches of economy are analyzed. The recommendations for solving the main problems of increasing its export potential connected with insufficiency of investment support, imperfect innovation development and mechanisms of technology transfer are substantiated.