State support for research and innovation in the business sector: foreign experience

The author examines a set of state support measures for R&D and innovation in the private sector implemented by the countries leading the way in innovative development. The essence of direct and indirect methods of subsidizing R&D and innovation activities is disclosed, the tools for their practical implementation in the business sector of various countries are systematized. Characteristic long-term trends in the growth of government support for R&D and innovation in the private sector and the shift of support in favor of indirect measures (in the form of tax incentives and preferences) are revealed. It has been established that, using the schemes and tools of monetary and fiscal policy, the state performs the functions of financing innovative infrastructure, of the customer and buyer of R&D results and innovative solutions, and of the insurer, who assumes guarantees for insuring risky investments in the development of new products and technologies, stimulating and coordinating R&D and innovation in the private sector to achieve socially important results.

Keywords

government regulation, R&D funding, tax support for innovation activity, foreign experience

Publication date

20.09.2022

Number of characters

19745

Cite

GOST	Klavdienko V. State support for research and innovation in the business sector: foreign experience // Obshchestvo i ekonomika – 2022. – Issue 9 C. 38-48 [Electronic resource]. URL: https://oie.jes.su/S020736760021860-5-1 (circulation date: 29.04.2024). DOI: 10.31857/S020736760021860-5
MLA	Klavdienko, Victor "State support for research and innovation in the business sector: foreign experience." Obshchestvo i ekonomika 9 (2022):38-48. DOI: 10.31857/S020736760021860-5
APA	Klavdienko V. (2022). State support for research and innovation in the business sector: foreign experience. Obshchestvo i ekonomika (9), pp.38-48 DOI: 10.31857/S020736760021860-5

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