The Development of Innovative Economies in Developed and Developing Countries: Factors and Changes of Modern Times (on the Example of the G7 and BRICS)

The relevance of this research is determined by the search for ways to achieve innovative leadership in the global economy during a period of change. The research aims to conduct a comparative analysis of the development of innovative economies in developed and developing countries (G7 and BRICS) under the influence of modern factors and substantiate the directions of state policy to ensure advanced innovative development as a condition for achieving leadership positions in the global economy. The authors hypothesize that during periods of change, there is an increasing likelihood of global centers of innovative leadership shifting from developed to developing countries. They also suggest that the innovative potential of developing countries could be strengthened through enhanced integrative collaboration. These hypotheses were proven. The authors conducted a comparative analysis of the key elements of the innovation production system and the outcomes of innovation activities in G7 and BRICS countries from 2019 to 2023. Additionally, the authors assessed the nature of the impact of crisis phenomena (pandemic and geopolitical tensions) on the development of innovative economies of the studied countries. The authors concluded that innovation activity in the BRICS countries, particularly driven by China and India, has strengthened, while there are signs of a slowdown in the innovation activity of the developed G7 countries. Moreover, the authors identified state policy measures aimed at strengthening the innovative potential of countries and their integration associations.