Pragmatic role of financial mechanisms in the paradigm of innovative development:domestic and world trends

Abstract

The pragmatic role of financial mechanisms in the paradigm of innovation development on the basis of fundamental principles of national science and practice is explored. It is proved, that the key parameters of modern innovation development show steady tendencies of decreasing entropy of financial mechanisms of the state. It was clarified that the transfer of emphasis on the use of advanced technologies, the transition to the release of high-tech products, the adoption of progressive organizational and managerial decisions in innovation activities should be based on the principles of innovation imperative and autocratic mechanisms in the country's economic policy. It was stated that the intensification of innovation processes in the state should be based on the principles of interaction between subjects of scientific and technical and entrepreneurial activity, in particular, to minimize the consequences of changes in the structure of economic activities. It has been established that the paradigm of innovation development requires the formation of an effective financial policy of the state, the main tasks of which are activation of innovation activity of economic entities and the creation of a coherent system of their financial support, taking into account an effective financial mechanism. This will be facilitated by systematization of state financing and stimulation of innovative development of the national economy.