Abstract:

The exposed material presents the results of the estimation of financial support for innovation activities in Ukraine in the regional dimension. The authors consider the importance of innovation as a factor in achieving competitiveness of the economy and development of the society. The problems related to financial support of innovative activities in the regions of Ukraine are analysed. An econometric model of the dependence of the volume of sales on the innovation cost indicator is developed on the basis of the panel data of regional statistics of Ukraine and a panel linear regression model is proposed to describe the relationship between the amount of internal costs of research and development (R&D) and the number of applications for inventions and utility models from national applicants. Based on the conducted research, the priority directions of development of innovation activities in Ukraine are outlined.