The paradigm of innovative economy as the basis of the progressive development of the state
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ANDREEVA, Tatiana, GROSU, Evghenii. The paradigm of innovative economy as the basis of the progressive development of the state. In: Relaţii internaţionale. Plus, 2019, nr. 2(16), pp. 289-296. ISSN 1857-4440.
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Relaţii internaţionale. Plus
Numărul 2(16) / 2019 / ISSN 1857-4440 /ISSNe 2587-3393

The paradigm of innovative economy as the basis of the progressive development of the state

CZU: 330.34+330.5(478)
JEL: F00, F20

Pag. 289-296

Andreeva Tatiana, Grosu Evghenii
Institute of International Relations of Moldova
Disponibil în IBN: 26 martie 2020


In the article are considered the main aspects and the concept of an innovative economy at the present stage as one of the highest priority development areas for any state, which provides the opportunity to increase the competitiveness of the national economy on the world stage. An important factor in this regard is the attraction of the necessary resources for the implementation of innovative development programs, in particular the attraction of foreign direct investments to build an innovative type of economy, as well as the interconnection of investment activity and scientific and technological progress. The most important of these is the consideration of investments as a kind of catalyst for scientific research, which is especially important in the conditions of the transformation of science into the direct productive power of society. In this regard, a model of financing economic growth based on innovation should be formed, creating the possibility of developing the real sector of the economy based on the latest achievements of scientific and technical progress and the formation of an optimal structure of social production. While innovations in their classical definition have always defined and accelerated the development of industry and the economy, the term innovative economy has been widely used only since the 1990s. An innovative economy is the economy of countries in which most organizations are engaged in innovative activities (production and use of innovative products), and innovative products exceed half of the total production or is close to it. The sector of innovative economy appeared in the industry of advanced  countries since the first scientific and technological revolution and since then has become the dominant sector of the economy with high technology and high labor productivity. An innovative economy as a whole is an economy capable of effectively using any innovations that are useful to society. Moreover, this and the general innovation system (infrastructure) in the state, which contributes to the implementation of the ideas of scientists in practice and their implementation in innovative products. An innovative economy includes, as an essential component, a venture scientific, technical and technological business - a risky business for the implementation of scientific discoveries, inventions, large and medium technological innovations. The venture scientific, technical and technological business from the point of view of entrepreneurship is aimed at obtaining high profits. And from the point of view of development processes - on the creation of breakthrough technologies and powerful new companies - world high-tech leaders. A key element of the innovation system infrastructure is a technology park based on the achievements and experience of the global venture business, on world-class specialists, on transparency and competition, on the investments of business angels (private investors with experience in the venture business), which make up at least half of all investments. Competition stimulates entrepreneurs and management to create new products, innovative production in order to maintain and expand their niche in the market, to increase profits. Free competition is the main driver of innovation and innovative products, and as a result, the main condition for the development of the country’s economy. In an innovative economy, physical capital is being replaced by human capital as the main development factor and share in national wealth. This process has been and is taking place at all stages of the development of the economy and society. But it became decisive at the stage of the post-industrial economy and, especially, the knowledge economy. For the modern post-industrial innovative economy of developed countries it is characteristic a high index of economic freedom, which ensures freedom of labor and its movement, freedom of business, citizens’ security, protection of private property, free competition, a rational and scientifically sound presence in the state economy, high demand from the economy for innovation and competition between them in quality and efficiency. High and competitive quality of life. Human capital flows to where it is more convenient to work and live for demanded and competitive specialists, etc. Respectively, transitional economies must consider this particular development vector as a priority. There is no doubt that it is the innovative economy that is the main and necessary condition for the development of the economy of the Republic of Moldova.

innovation, innovative economy, economic development, investment in innovation, competitive ability