GLOBAL MODELS OF STATE REGULATION OF INNOVATION ACTIVITY

In today’s global economy, government regulation of innovation is a key factor in economic growth and competitiveness. Countries apply different models of innovation support, depending on the specifics of their national economy, political system and strategic priorities. This article examines the main global models of innovation regulation, including the American (liberal market), European (socially oriented), Chinese (dominated by public administration) and Israeli (startup-oriented) models, providing a comparative analysis of their strengths and weaknesses. The author analyzes the key mechanisms of state support for innovation, such as financing research and development (R&D), both directly through grants and indirectly through support for research institutions; providing tax benefits and other financial incentives for innovative companies; developing public-private partnerships (PPPs), which leverage the expertise and resources of both sectors; and ensuring the protection of intellectual property rights, a critical component for incentivizing investment in innovation. Particular attention is paid to the specifics of the functioning of innovation ecosystems in each model, including the role of universities, research centers, venture capital funds, and business incubators, as well as the less formal networks of collaboration that contribute to knowledge transfer. The study shows that the most effective models are those that combine elements of government intervention with market mechanisms, creating a dynamic balance that fosters both creativity and efficiency, ensuring acceleration of technological progress, stimulation of innovation activity and stable economic growth. It has also been found that the success of innovation policy largely depends on the ability of the state to adapt its strategy to changing global market conditions and technological trends, requiring a flexible and forward-looking approach. An important factor is the creation of a favorable investment climate, characterized by regulatory certainty and access to capital, and ensuring effective interaction between all participants in the innovation process: the state, business, research institutions and civil society, fostering a culture of open communication and collaboration. The results of the study may be useful for improving the national innovation policy, providing policymakers with insights and best practices taking into account the best international practices.