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FINANCING INNOVATION ACTIVITY IN UKRAINE: REALITIES AND PERSPECTIVES

Nataliia Marynenko (), Iryna Fedyshyn (), Natalia Garmatiy () and Iryna Kramar ()
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Nataliia Marynenko: Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine
Iryna Fedyshyn: Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine
Natalia Garmatiy: Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine
Iryna Kramar: Department of Economics and Finance, Faculty of Economics and Management, Ternopil Ivan Puluj National Technical University, Ukraine

Economic Review: Journal of Economics and Business, 2019, vol. 17, issue 1, 33-46

Abstract: The role of the European Union (EU) in direct investment into the real sector of the Ukrainian economy is discussed in the article. Activity indicators of Ukrainian industrial enterprises are analyzed. Assessment of the attraction of foreign direct investment from the EU to the real sector of the Ukrainian economy is provided. The correlation between the influence of the total amount of expenditures for financing innovation activity of industrial enterprises and gross domestic product of Ukraine in actual prices is calculated and forecasting of these expenditures by applying the theory of Markov chains is carried out. The research on the basis of correlation-regression analysis between the total amount of expenditures for financing innovation activity of industrial enterprises and gross domestic product of Ukraine in actual prices for the period of 2013-2017 made it possible to establish a sufficiently strong correlation between the indicators (the correlation coefficient is 1), which indicates that the positive dynamics of the increase in the total amount of expenditures for financing innovation activity of industrial enterprises will lead to a positive dynamics of Ukraine’s gross domestic productin actual prices. This, in turn, will improve practically all indicators of the industrial activity of the national economy.

Keywords: investment; innovation activity; Ukraine; gross domestic product; foreign direct investment; Markov chain (search for similar items in EconPapers)
JEL-codes: C53 F21 O11 O31 (search for similar items in EconPapers)
Date: 2019
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