Abstract
This paper reports a comprehensive approach devised to assess the impact of innovative development on the level of financial security of households. The study considers the peculiarities of the interpretation of the concepts of "household" and "innovation" and identifies the main factors influencing the financial security of households. The indicators characterizing the state of financial security of households and innovative development were analyzed in dynamics. The study's result produced a SWOT analysis that ensures the financial security of households. Among the strengths are the high economic potential of the country, the process of reforming state systems, the transition to complete digitalization (digitalization), and the presence of highly educated specialists. It was clarified that the factors that have the greatest negative impact are the low level of investment attractiveness, corruption component, the impact of the global economic crisis, and the high level of shadowing of the economy. The method of correlation-regression analysis was used to prove the hypothesis put forward regarding the existence of a connection between the indicators characterizing innovative development and the level of financial security of households. The adequacy of the developed model has been confirmed on the basis of the Fisher's F-criterion. The existence of a strong relationship between independent and dependent variables (multiple correlation coefficient R=0.9875) was mathematically confirmed, which proves the expediency of stimulating innovative development to strengthen financial security. It was established that with an increase in both independent variables at the same time by 1 % (the cost of scientific research, the total amount of expenditures in the areas of innovative activity of industrial enterprises), the volume of GDP per capita (an indicator of the state of financial security of households) increases by 1.75 %.
Highlights
The development of approaches to assessing the impact of innovative development on the level of financial security of households, taking into consideration the specificity of the transformation of the world financial system, is one of the most important world problems of national security of states
Given the current conditions of active introduction of innovations in various industries and systems, it is important to study the existence of a connection between the innovative development of the state financial system and the financial security of households
Article [4] pays attention only to theoretical understanding of the basic category of research without a thorough analysis of the factors that form its level. This aspect is taken into consideration in [5], whose author considers and analyzes the main factors that affect the financial security of households, presents different views of scientists regarding their grouping
Summary
The development of approaches to assessing the impact of innovative development on the level of financial security of households, taking into consideration the specificity of the transformation of the world financial system, is one of the most important world problems of national security of states. Factors that affect the formation of financial security of households and countries of the world are transformed in accordance with the changes around. Important tasks of economic development are to create favorable conditions for improving the level of financial security of households as the main stimulant for improving the financial system of the world. Given the current conditions of active introduction of innovations in various industries and systems, it is important to study the existence of a connection between the innovative development of the state financial system and the financial security of households. The analysis of indicators characterizing the state of financial security of households in the state and trends in innovative development will determine the type and density of relationship between these elements. 1/13 ( 115 ) 2022 opportunities to strengthen the state of financial security of households, as well as new threats, the negative impact of which must be timely eliminated
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