GLOBAL ECONOMIC INTERACTION AS A FACTOR OF INNOVATIVE PROGRESS IN COUNTRIES WITH A TRANSFORMATIONAL MODEL OF GROWTH

The degree of international financial and economic integration determines the country's export capacity and the possibility of trade in innovative products. Access to global and regional markets facilitates the use of the existing innovation potential. The purpose of the article is to identify the relationship between the indicators of international economic relations (IER) and innovation in developing countries. The methodology of the study is based on a quantitative comparative approach to comparing the main indicators of the development of international economic relations and innovation in India, Vietnam, the Philippines, and Ukraine. The results demonstrate significant differences in the development of IER and innovation in developing countries in 2017–2024. India has the highest level of utilization of the available innovation potential with low levels of financial and economic integration. Vietnam and the Philippines have a fairly high level of innovation activity with a high level of trade openness and sustainable financial integration. As a result, these countries ensure the use of the results of created knowledge, technologies, research and development, and creative activity. Ukraine is significantly inferior in terms of utilizing its innovation potential, despite its openness to trade. The practical significance of the results lies in the possibility of their application for the formation and revision of innovation and trade policy in developing countries.