Franchuk T. Financial resources of innovative development of national economy of Ukraine

The dissertation deals with the essence of financial resources and actual theoretical and methodological approaches to their definition. Functioning levels of financial resources, their material form, financing sources and key purposes of use are determined. The parameters of the information-network economy and its key trends are highlighted. The directions of modification of financial resources in the information-network economy are disclosed, including concerning the financial support of national economy innovative development. The state regulation basics of financial sector as a key mechanism of innovation financing are disclosed. The analysis of existing models of financial sector regulation, their key characteristics, advantages and disadvantages is made. The factors that influence the choice and formation of approaches to financial sector regulation in foreign practice are highlighted. Quantitative parameters of Ukraine’s national economy financial resources and their main imbalances are researched: minimal role of households as “net savers”, low ability of enterprises to attract financial resources from external sources, high dependence level of public finance on debt borrowing, low international investment ratings of Ukraine. Low incomes level of Ukraine’s population, pressure from the “shadow” sector, and insufficient financial inclusion actually negate the importance of household savings as a source of financial resources. Corporate financial strategies of enterprises in the real sector are focused primarily on the use of internal resources. Debt policy of Ukraine disavows the importance of budgetary resources in innovative development financing. Key deformations in the formation and use of financial resources in the national innovation system of Ukraine are highlighted and characterized. The influence of domestic financial sector on innovation processes in Ukraine is justified. The channels of destructive impact of institutional factors on the Ukrainian financial system development are identified. Strategic coordinates of financial resources development for innovative development in Ukraine are determined, which should be based on the maximum combination of public interests (in terms of state and regional financial resources’ use) with the interests of other participants of innovation process: financial institutions, households and non-financial corporations. Such consensus is possible, first of all, in the conditions of appropriate institutional environment formation. The possibilities of innovative processes activation at state sector enterprises level of Ukrainian economy are disclosed. The key factor should be a change in the policy of state-shareholder, among other things, in dividend policy issues, as well as possible financial support of innovative projects of state sector enterprises. The key problems in the field of financial resources management of innovative development of Ukraine are highlighted. It is emphasized on the priority of solving problems in financial component development of regional innovation infrastructure. Approaches to the legal regulation of financial resources are developed. It is established that in the issue of improving of state regulation model of financial resources of Ukraine’s innovative development, the priority should be the change of regulatory approaches to domestic financial sector development. The necessity of transition in the medium term to mega-regulator model of Ukraine’s financial sector is justified. The recommendations aimed at efficiency increasing of financial resources’ use in Ukraine’s national economy innovative development through the use of publicprivate partnership mechanism are justified. In this context, proposals are developed to amend the regulatory framework.