MECHANISM OF STATE REGULATION OF INNOVATIVE DEVELOPMENT OF THE ECONOMY

The article considers some views on the role and mechanism of state regulation of the innovative economy as a whole and its individual spheres in the conditions of market relations. It is noted that the solution of problems of regulation of innovative development should be carried out on a balanced basis, taking into account the interaction of innovation policy with other components of state regulation of socio-economic processes. An analysis of scientific developments in the field of state regulation of the economy has demonstrated the relevance of the issue of ensuring innovative development, which is the basis for the economic growth of the domestic economy. At the same time, it is necessary to take into account the nature of the influence of institutional mechanisms on the regulation of the economy and the connection of innovation policy with other components of state regulation of socio-economic processes. Therefore, the purpose of the article is to highlight the general economic prerequisites for state regulation of innovation processes and, on their basis, formulate the functions, institutional mechanisms, and technologies of state influence on innovative development. The need for state regulation of innovation processes is primarily due to their growing importance for the economy and society as a whole. Today, economic growth is based on a combination of extensive and intensive factors. Under current conditions, the possibilities for increasing the output of products and services through greater employment of the working population and the involvement of new natural resources in the economic cycle are becoming increasingly limited. Intensive factors are becoming increasingly important for economic dynamics. In turn, the growth of personnel qualifications and labor productivity, the characteristics of materials and equipment, their return is determined by the achievements of science and technology, empirical improvements and the degree of their use in the economy, that is, the spread of innovations. Thus, a significant factor in the national significance of innovations is their decisive influence on macroeconomic indicators.