POTENTIAL INVESTMENT RESOURCES OF INNOVATIVE PRODUCTION UPDATE

Abstract

The article is devoted to the topical issue of identifying potential investment resources for innovative production renewal. The consequence of mistakes in the implementation of economic reforms was a decrease in production volumes in all spheres of social production, the decline of the most science-intensive sectors of the economy and the reorientation of the national economy to raw materials industries, resulting in disproportions in the structure of the national economy. This led to the structural restructuring of the economy in the direction of lower technological systems and contributed to the emergence of the dependence of the national economy on the world market. At the same time, this process is accompanied by moral and physical aging of the fixed capital, due to its insufficient renewal. In recent years, the process of increasing the cost of production factors began, depriving Ukrainian producers of price advantages compared to foreign competitors. The further improvement of the competitiveness of the national economy depends on the renewal of the fixed capital, which is carried out on a systemic basis. At the same time, its systematic renewal on an innovative basis will cause the transition of the national economy of Ukraine to an innovative model of development. Thus, the modernization of fixed capital on a modern technical and technological basis is now becoming one of the main determinants capable of increasing the competitiveness of the national economy in the conditions of the current stage of globalization. However, innovative renewal of fixed capital is not possible without investments, precisely the lack of investments and, as a result, the search for their sources becomes the goal of state economic policy. The existing model of the development of the economy of Ukraine does not contribute to the attraction of investment resources for the renewal of public production on a qualitatively new technological base and the structural restructuring of the economy. To develop an effective mechanism for stimulating the innovative renewal of fixed capital, it is necessary to first of all investigate and analyze possible sources of investment resources for innovative renewal of fixed capital. External sources of investment resources such as direct foreign investments, the stock market, investment resources of the shadow economy are analyzed. The main reasons that prevent the attraction of investment resources of these sources for the innovative renewal of production are highlighted.