Improvement of institutional support of innovation and investment activity in Ukraine

The purpose of the article is to research institutional support of innovation and investment activity in Ukraine. Research methods. In the research process were used the following scientific methods: dialectical method of scientific cognition for consideration of essence of institutional support of innovation and investment activity; empirical method for comprehensive assessment of the current state of the research object at the global level; abstract and logical for formation of proposals and conclusions. Research results. Investment policy tools are modified to reflect industrial policy models and stages of development. Threat to economic development arises from weakening of existing institutions, and many institutions are losing their effectiveness due to frenetic pace of the digital economy. Ukraine needs to ensure that its investment policy instruments are up-to-date, using such tools as reallocation of investment incentives. Elements of scientific novelty. The model of interaction of institutes in the process of innovation and investment activity in Ukraine at the stage of sustainable development was improved. Practical significance. Analysis of the state of investment support and global growth in the world was made. The main tendencies of economic development of the countries for a short term were summarized. Important role of innovation and investment activity at the stage of sustainable development was established. Factors that influence the reform of informal institutions in human minds were identified. The main factors governing innovation and investment activity were analysed. List of the main institutions that interact in the process of innovation and investment activity was given. Institutions were identified that, under the influence of globalization and integration, have lost their effectiveness and require institutional correction. Impact of transaction costs on the level of innovation and investment support was generalized and ways of their reduction were determined. There was developed a model of interaction of institutes in the process of innovation-investment activity in Ukraine, which includes informal institutions, state and supranational institutions, regulatory legal support, investment environment. Figs.: 1. Refs.: 25.