Benchmarking of Innovation-Oriented Financial Policies in the Context of Global Instability

V. ZIANKO; T. NECHYPORENKO

doi:10.15407/scine22.02.099

Authors

V. ZIANKO Vinnytsia National Technical University https://orcid.org/0000-0003-0095-5248
T. NECHYPORENKO Vinnytsia National Technical University https://orcid.org/0000-0002-0690-1534

DOI:

https://doi.org/10.15407/scine22.02.099

Keywords:

fi nancial technology (FinTech), innovation-oriented fi nancial policy, benchmarking, innovation fi nancing, global instability

Abstract

Introduction. In a period of profound geopolitical transformation, innovative development increasingly
determines the resilience and competitiveness of national economies, thereby intensifying the role of financial policy in supporting scientific and technological progress and the commercialization of innovation. In this context, benchmarking serves as an effective instrument for comparative analysis and for adapting advanced international experience in shaping mechanisms of financial stimulation of innovation.
Problem Statement. Escalating global turbulence and the methodological incompleteness of tools for assessing the effectiveness of financial policy necessitate systematic benchmarking of international practices in order to conceptualize and identify efficient mechanisms for supporting innovation.
Purpose. To conduct benchmarking of innovation-oriented financial policies in advanced economies in order to identify effective policy instruments and substantiate recommendations for their implementation within Ukraine’s fi nancial system.
Materials and Methods. The study has employed system analysis and a multi-level research framework, as well as empirical methods (observation, comparison) and logical-methodological approaches (formalization, analysis, synthesis, induction, and deduction) to systematize approaches to stimulating innovation under conditions of instability.
Results. The genesis of financial mechanisms for stimulating innovation has been examined, and American, European, and Asian models for 2022—2024 have been benchmarked. Based on the systematization of policy instruments and institutional and managerial approaches in advanced economies, recommendations for intensifying Ukraine’s innovation-driven development have been substantiated. The study has demonstrated that the effectiveness of financial policy under conditions of instability is determined by the integration of budgetary and tax levers within a comprehensive institutional architecture. A synergistic effect from combining flexible financial instruments with specific governance models has been identified. It accelerates the commercialization of innovation and supports R&D potential in the face of systemic challenges.
Conclusions. The results of the global benchmarking assessment have formed the framework for practical recommendations on innovation-oriented financial policy in Ukraine, aimed at overcoming financing imbalances and intensifying innovation-driven development.

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Author Biography

V. ZIANKO, Vinnytsia National Technical University

Doctor of Economics, Professor,

Head of the Department of Finance and Innovation Management

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