State structures changes as a result of investing in innovation sector
Economic Annals-ХХI: Volume 143, Issue 7-8(2), Pages: 16-19
Citation information:
Ivlevs, A. (2014). State structures changes as a result of investing in innovation sector. Economic Annals-XXI, 7-8(2), 16-19. https://ea21journal.world/index.php/ea-v143-04/
Artur Ivlevs
PhD Student,
The Baltic International Academy
4 Lomonosov Str., Riga, LV-1003, Latvia
ivlevs@web.de
State structures changes as a result of investing in innovation sector
Abstract. Today many states and most successful companies are investing heavily in innovative sector. Governments have been promoting various initiatives in the field of innovation. In fact, all developed and developing countries provide resources for the mention sector. As experience shows, not all of these investments will be paid off. Innovative character of the capital based on scientific achievements, the rapid development of new technologies and effective management is the guiding force of the international community in the post-industrial era. The modern idea of the product transformation is the movement in the chain of science, production, distribution, exchange and consumption. All steps in this chain integrate quantitative and qualitative innovation switches. These can be shifted up as a result of innovative processes. At present, innovation is the basis of competition which determines the constantly renewing social progress in the world’s economies.
The phenomenon of the structural development is complex and multifaceted. Some scientific studies explain many problems faced by countries during their innovation process. Structural changes have to be in consensus with the desired targets. A main goal of any government should be the welfare of citizens. Central points of this study are such issues as the role of government in establishing innovative sector and the consequences of these actions – structural changes.
The academic work will make a significant contribution to the study of modern investment in the innovative sector, which has a goal to accelerate economic growth and structural change. The theoretical conclusions of this study should explain the current realities in the context of globalization and development of the innovation sector. The author has introduced a new term – the innovative mirror. The innovative mirror explains a relation between investments in the innovation sector and changes in the employment structure as a reflection of investment.
Keywords: Investing; Innovation; Structural Changes; Innovative Mirror
JEL Classification: E24; J21
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Received 26.06.2014