Olena B. Salikhova, Nataliia M. Shelud`ko


The paper provides estimates of consequences of lacking mechanisms for implementing innovative priorities in industry for the economy of Ukraine. It is summed up that the key structural problem of Ukrainian industry is the weak innovation potential, which has worsened the already volatile competitive position of a number of national key industries in world markets.

Recommendations for bringing experience and best world practices to Ukraine, in particular – of EU member states with successful national innovation systems and effective tools for attracting private capital in innovation, were critically assessed. The preconditions and key trends of transformations in the policy of financing innovations of key world players (EU, USA, China) are highlighted. The practical experience and institutional transformations’ peculiarities, aimed at activation of innovations financing in France, are generalized.

One of the main shortcomings of the existing organizational and institutional management system for research and innovation in Ukraine is the lack of a structure, functionally aimed at industrial and innovative development of the national economy. It is emphasized that the dispersion of the function of formation and implementation of industrial policy (assigned to the Ministry of Economic Development) and innovation (within the competence of the Ministry of Education and Science) resulted in the loss of a number of competencies and positions of national industrial producers in national and foreign markets, as well as weak position in “trade wars”.

In order to counteract further degradation of the national industry and increase innovation potential in Ukraine, it is offered to create a fundamentally new, multifunctional body of state industrial management, combining the tools of industrial, technological and innovation policy with education and human capital policy.

It is noted that the concretization of the authors’ proposals will require further research both in terms of the existence of "windows of opportunity" that do not open at the stages of changing technoeconomic paradigms, and the real potential of institutional transformations in Ukraine.


innovations, industry, banks, financial sector, financial companies


Vishnevsky, V. P. (2016). Global neo-industrialization and its lessons for Ukraine. Economy of Ukraine, 8, pp. 26-43 [in Russian].

Vishnevsky, V. P., Vishnevskaia, E. N., Matiushyn, A.V., & Sheludko, N.M. (2017). Monetary power in the modern world. Who will challenge the dollar? Kyiv: Аkademperiodyka [in Russian].

Vishnevsky, V. P., Аmosha, A.I., Zbarazskaia, L. А., Оkhten, А. А., & Cherevatskii, D. Yu. (2013). Industrial policy and industrial development management in the context of systemic imbalances: concepttual framework. V.P. Vishnevsky & L. A. Zbarazskaia (Eds). Donetsk: Institute of Industrial Economics of the NAS of Ukraine [in Russian].

Vishnevsky, V. P., Garkushenko, O. M., Кniaiev, C. I., Lypnytskii, D. V., & Chekinaa, V. D. (2020). Digitization of Ukraine's economy: transformation potential. In V.P. Vishnevsky & C. I. Кniaiev (Eds). Institute of Industrial Economics of the NAS of Ukraine. Kyiv: Аkademperiodyka [in Ukrainian].

Girshfeld, А., & Salikhova, Е. (2018a). Areopagus Industrial Renaissance. Retrieved from [in Russian].

Girshfeld, А., & Salikhova, Е. (2018b). Does government support harm business. Retrieved from [in Russian].

Girshfeld, А., & Salikhova, Е. (2018c). Zeitgeist Innovation. Retrieved from [in Russian].

Girshfeld, А., & Salikhova, Е. (2020). See Paris and die? Retrieved from [in Russian].

Danylenko, A. І. (2017). The main problems of innovation restructuring and financial aspects of its provision in Ukraine. Finansy Ukrainy, 5, pp. 7-21 [in Ukrainian].

Kindzerskyi, Yu.V. (2013). Industry of Ukraine: strategy and policy of structural and technological modernization. Kyiv: Institute of Economics and Forecasting of the NAS of Ukraine [in Ukrainian].

Novytskyi, V. S. (2019). New industrialization is a real chance for Ukraine. Kyiv: Аvanpost-prym [in Ukrainian].

United Nations. Economic Commission for Europe (2008). Financing innovative development. Comparative review of the experience of UNECE countries in the field of enterprise financing in the early stages of development / Trans. from english. St. Petersburg: Russian Association of Private Equity and Venture Capital [in Russian].

Raitnert, E. С. (2011). How rich countries became rich, and why poor countries remain poor. Moscow: Publishing House house of State University of Higher School of Economics.[in Russian].

Salikhova, Е. B. (2020). Turbo Nannies. Retrieved from [in Russian].

Salikhova, O. B., & Кrekhivskii, О. V. (2018). The new mechanism of state power for technological innovation for the development of industrial and technological development. Statistics of Ukraine, 2, pp. 30-35. doi: [in Ukrainian].

Salikhova, O. B. (2012). High-tech production: from evaluation methodology to rise in Ukraine. Kyiv: Institute of Economics and Forecasting of the NAS of Ukraine [in Ukrainian].

Salikhova, O. B. (2015). Renaissance of state intervention in industrial development: the latest world trends and lessons for Ukraine. Economy of Ukraine, 9, pp. 20-40 [in Ukrainian].

Salikhova, O. B., & Goncharenko, D. O. (2020). The pharmaceutical industry of France. Foreign trade: economics, finance, law, 2, pp. 67-85. doi: [in Ukrainian].

Salikhova, O., & Sheludko, N. (2019). Modern trade wars: on the threshold of a new industrial structure of the world. Razumkov center. Retrieved from [in Ukrainian].

Bloomberg (2020). Global Innovation Index. Bloomberg. Retrieved from

National Industry Council (2019a). The CSFs: putting industries back at the heart of French industrial policy. National Industry Council. Retrieved from [in French].

National Industry Council (2019b). THE NANO PLAN 2022. National Industry Council. Retrieved from [in French].

Degois, T. (2019). Investments for the future. opinion presented on behalf of the Committee on Economic Affairs on the 2020 finance bill, No. 2272, Vol. XI. National Assembly. Retrieved from [in French].

Ellram, L., Tate, W., & Petersen, K. (2013). Offshoring and Reshoring: An Up-date on the Manufacturing Location Decision. Journal of Supply Chain Management, Vol. 49, No. 2. pp. 14-22.

Budget Management Performance Forum (2020a). Acceleration of business modernization. Budget Management Performance Forum. Retrieved from [in French].

Budget Management Performance Forum (2020b). Finance Bill for 2020 – Investments for the Future Mission. Budget Management Performance Forum. Retrieved from [in French]. (2010). Report. Finance, General Economy and Budgetary Control Committee. Tuesday January 26, 2010. Retrieved from [in French]. (2020). The new industrial France. Retrieved from [in French].

Juppé, A. (2009). Investing for the future: strategic investment priorities and national borrowing: Report to the President of the Republic. Retrieved from [in French].

Le Monde (2009). Individuals will not be able to subscribe to the large loan. Le Monde. Retrieved from [in French].

The Portal to the Economy, Finance, Action and Public Accounts (2019). What is the difference between commitment authorization and payment credit? The Portal to the Economy, Finance, Action and Public Accounts. Retrieved from [in French]. (2012). Relating to the creation of the Public Investment Bank: Law of December 31, No. 2012-1559. JORF No. 0001 of January 1, 2013. text No. Retrieved from [in French]. (2019). Order: On the organization of general company management of August 28. Retrieved from;jsessionid=4E0C83446336E048E4BE93FE22B28D13.tplgfr43s_1?cidTexte=JORFTEXT000038988062&idArticle=&dateTexte=20200123 [in French]. (2020). Decree No. 2013-162 of February 22, 2013 Amending Decree No. 2010-596 of June 3, 2010 Concerning the National Industry Conference. Retrieved from [in French].

Poles of competitiveness (2020 Poles of competitiveness in France. Poles of competitiveness. Retrieved from [in French].

Manyika, J., Chui, M., Bughin, J., Dobbs, R., Bisson, P., & Marrs, A. (2013). Disruptive technologies: Advances that will transform life, business, and the global economy. McKinsey Global Institute. (2019a). Finance bill for 2020: Research and higher education. Exploded and lacking readability of research funding. Retrieved from [in French]. (2019b). Finance bill for 2020: Research and higher education. B. An increase in the appropriations carried by the program 192 "Research and higher education in economic and industrial matters" in order to finance the NANO 2022 plan. Retrieved from [in French]. (2019c). Finance bill for 2020: Trust account: State financial contributions. Retrieved from [in French].

Vishnevsky, V. P., & Knjazev, S. I. (2018). How to Increase the Readiness of Ukraine’s Industry to Smart Transformations. Nauka innov., 14 (4), pp. 55-69. doi:


  • There are currently no refbacks.