PDFBalanchuk I. S. — Senior Researcher of Ukrainian Institute for Scientific, Technical Expertise and Information, 180, Antonovуcha Str., Kyiv, Ukraine, 03680; +38 (044) 521-00-37; balanchuk@uintei.kiev.ua; ORCID: 0000-0002-5179-7350
INNOVATIONS IN ECONOMY AS A MEANS OF COMPETITIVENESS INCREASING OF THE STATE (ON THE EXAMPLE OF FINLAND)
Abstract. Innovations are a constant companion to the everyday life of everycitizen of all developed countries of the world. Innovation of the state is an indicator of the high level of development of its citizens, a characteristic feature of the prosperity of society. All branches of production moves towards fundamentally new technological solutions, and the economy is not an exception. Innovations in the economy play a very important role on the way of affirming the country as a competitive and financially independent one. There is a direct link between the introduction of innovations in the economy and the level of the state competitiveness. The article studies the interrelations of innovations in the economy and the competitiveness of the state using the theory of competitive advantages of the American economist Michael Porter. An example is given of Finland as a country that has become a powerful with a competitive economy by introducing innovative solutions into the structure of production.
Keywords: innovation, economy, competitiveness, Finland, technology, investments, fund, innovation index.
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