The basic directions of innovative development in the context of attracting external funding for the transformational economies

Economic Annals-ХХI: Volume 140, Issue 3-4(2), Pages: 8-11

Citation information:
Konotop, G. (2014). The basic directions of innovative development in the context of attracting external funding for the transformational economies. Economic Annals-XXI, 3-4(2), 8-11.

Gleb Konotop
Post-Graduate Student,
Institute of International Relations of Kyiv National Taras Shevchenko University
36/1 Melnikova Str., Kyiv, 04119, Ukraine

The basic directions of innovative development in the context of  attracting external funding for the transformational economies

Abstract. Introduction. Today, Ukraine is relevant to the issue of capital as a factor in improving the welfare of individual actors in the economy. The aim of the paper is to determine the directions of innovative development in the context of external financing, the formulation of the main priorities in current investments, and general characteristics of the models, which allow optimizing the access to external financing. Methods. During the research, a number of theoretical methods of scientific knowledge was used: analysis and synthesis, induction and deduction, comparison, classification, generalization, axiomatic method etc. The above methods were used to study and analyze the existing economic conditions in Ukraine in case of attraction the external funding, and to determine the principles of innovation and analysis of models, which allow the investments importing. Results. The institutional aspects of the innovative economic development are described. The meaningful definition of innovative development was formulated due to the works of local scientists. The main source of external financing in terms of the transformation of the economy was highlighted. The models that can be used in external financing decision-making are determined. Conclusion. As a result, the article highlights the relevant issues of access to external financing in case of transformational economy. An integrated approach to defining the principles of external financing in terms of transformations was used. These results can be used in the financial analysis and forecasting.

Keywords: Innovative Development; Transformational Economy; Institutional Environment; External Financing

JEL Classification: E62; F21


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Received 25.02.2014