ХАРАКТЕРИСТИКА ВПЛИВУ ІНСТИТУТІВ НА СУЧАСНУ РЕАЛІЗАЦІЮ ІННОВАЦІЙНОГО ПРОЦЕСУ

The purpose of the study is to identify and characterize the main institutions that influence the realization of the innovation process. For this purpose, methods of analysis, synthesis, and generalization of scientific works were used to provide an in-depth description of the issue. As a result, it was established that institutions act as an indirect factor that determines the effectiveness of other factors of innovation (human capital, financing, R&D) as formal structures, such as laws and property rights, and informal like trust, customs and culture. In Ukraine, the institutional environment (insufficient protection of property rights, corruption, weakness of the judicial system) creates unfavorable conditions for innovative activity. The practical significance lies in justifying the need for systemic institutional reforms as a priority step to stimulate Ukraine's innovative development.