The impact of economic entities’ innovative activity on the indicators of sustainable development of Ukraine

Abstract

The article is devoted to substantiating the impact of innovative activity of business entities on the indicators of sustainable development of Ukraine on the basis of the econometric modeling. It is proposed to consider this impact from the point of view of increasing the country’s gross domestic product (GDP) and the resulting factor of innovation implementations – the volume of innovative products sold. Analytical data from statistical reporting forms of Ukrainian enterprises were used by summarizing the data taken in the forms of statistical observation of the State Statistics Service of Ukraine. The models are developed based on two methodological approaches: a generalizing indicator of efficiency and effectiveness. According to the results of a study conducted by the authors, the most significant impact on the volume of GDP is exerted, in particular: among the performance indicators – the cost of innovation and the number of business entities that have implemented innovations; efficiency – the share of the volume of scientific and scientific and technical works performed in GDP. In contrast to the current models, the proposed ones provide a high level of accuracy in assessing indicators of the macroeconomic state of Ukraine, as a basis for forming an effective state policy of sustainable development. Based on the developed models, the current directions of improving and reforming the innovation ecosystem to increase the scientific potential of Ukraine are identified.