• R.S. Bilyk Uriy Fedkovych National University of Chernivtsi 


These article is about the objective preconditions and regularities of conducting transformational changes in the economy of different countries of the world on innovative basis. It is substantiated, that the development of innovative modernization of the
Actual problems of international relations. Release 139. 2019
economy should be one of the main means system of state regulation itself. The experience of developed countries of the world had analyzed with regard to the use of financial methods and tools for activating innovation and conducting R & D. It substantiated, that the necessity of implementation of this experience in Ukraine in order to ensure modernization of the economy through introduction of various tax privileges, accelerated depreciation of fixed capital, cheap loans, etc.. It had proved, that the development and implementation of financial regulation methods in the mechanism of innovation modernization of the economy should take into account the features and structure of the domestic economy, the depth of globalization transformations and the degree of development of financial institutions. The focus of financial regulatory methods for modernizing the economy involves the concentration, distribution and redistribution of financial and economic resources, reorientation of the economy towards an innovative model of development. The priority directions had determined and recommendations had developed on improving the institutional foundations of financial policy in the context of innovative modernization of the Ukrainian economy. Among the most important areas are the following: the search for new sources and increase of financing of innovative development, improvement of the effectiveness of the influence of financial instruments on the rate of economic growth, the growth of the share of high-tech component of the economy, etc.
Key words: innovative activity, financial methods of regulation, institutional provision, innovative modernization.

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Author Biography

R.S. Bilyk, Uriy Fedkovych National University of Chernivtsi 

Ph.D. (economics), Associate Professor, Department of International Economics of