AN ECONOMIC ANALYSIS OF STATE REGULATION OF INNOVATION (USING THE US AS AN EXAMPLE)

Abstract

This article presents an economic analysis of government regulation of innovation using the United States as a case study. The aim of the study is to conduct a comprehensive assessment of the mechanisms of government regulation of innovation in the United States, determine their economic effectiveness, and identify opportunities for adapting this experience in other countries. The research methodology is based on a systemic approach that views innovation as a complex interaction between the government, business, and scientific institutions. The study employs general scientific and specialized methods, including analysis and synthesis to generalize theoretical approaches to government regulation of innovation; a comparative method to study various models of state support; statistical analysis to assess key indicators of innovation activity (such as patent activity, investment volumes, and technology commercialization); and an institutional approach to evaluate the role of government agencies and programs in shaping the innovation ecosystem. The study’s findings show that government regulation of innovation in the United States is comprehensive and includes financial, organizational, and regulatory instruments. It has been established that key mechanisms include grant programs to support innovation, tax incentives for businesses, the development of venture capital, and active collaboration between universities, business, and government. The study demonstrates that this model ensures a high level of innovation, facilitates the commercialization of scientific developments, stimulates the creation of startups, and fosters a favorable environment for the development of digital technologies. At the same time, a number of challenges were identified, including the uneven distribution of resources, the concentration of innovation in technology clusters, and the need for continuous improvement of public policy in response to the evolution of the digital economy. The practical value of this article lies in the application of the findings to improve government policy in the field of innovation and to adapt the US experience to the circumstances of other countries.