Innovative relations as a basis for transformative processes of economic systems

Abstract

Introduction. In the modern world, economic systems are rapidly changing and developing, requiring the implementation of innovations in all industries. Innovations are expected to contribute to transformative processes, stimulate productivity growth, increase competitiveness, and create new markets. However, innovation relationships may encounter obstacles such as the absence of resources, infrastructure, and legal frameworks. Ukraine has the potential to secure future growth through innovation, but the actual improvement in this area significantly lags behind expectations. It is necessary to conduct an analysis and develop effective strategies for using innovations to support the stable development of economic systems, taking into account the differences in the roles of business, government, and society. The purpose of the article is to investigate the impact of innovative relations on transformational processes in economic systems, analyze global trends in innovation development policy and their determination from the perspective of the systemic stability of the world economy, identify the main problems and risks associated with innovation management. Method (methodology). The study applies a systematic approach, analytical and synthetic methods, the normative legal base and statistical data of the of Global Innovation Index as the information basis. Results. The significance of innovative relationships for the development of economic systems, key problems and challenges they face have been discussed, and recommendations for stimulating innovation in the economy have been proposed. Conclusions. In summarizing the domestic and foreign experience in implementing innovative relations in the economic system, it is worth emphasizing the growing role of such relations in society. They strengthen traditional economic relations as a genetic environment for innovation and promote the development of key features of the post-industrial information economy. In this economy, under the influence of innovations, different scientific fields integrate into a single productive force, there is a transition from real to virtual and computer experiments in all spheres of human activity, and the influence of human labor on the object of labor changes. Innovative relations change the quality of economic growth, provide dynamic transformation of the structure of social wealth, transform the structure of social needs and the world market, significantly change the basis and factors of the competitiveness of the economic system, depending on the forms and types of ownership that develop. They also enhance the communicative-synergetic effect of the economic system and increase its potential for flexibility. The analysis conducted in the article identifies the key features of the post-industrial information economy, as well as the main problems and risks associated with managing innovations and their impact on innovative relations and transformational processes in economic systems.