MODELLING THE IMPACT OF INTELLECTUALIZATION ON ECONOMIC GROWTH IN UKRAINE

Abstract

Studying driving forces and determinants of robust economic growth has been a topical issue in economic science for many years. The whole evolution of economic science has confirmed that there is a constant search for relations and interdependencies between individual factors and economic development. Along with the rapid scientific and technological progress in the twenty-first century, the range of factors that have a decisive influence on the country’s economic dynamics is growing. Recognizing the key role of all resources related to human intellectual activity in the countries’ economic development is a well-known postulate. The intense use of intellectual resources, accelerated technologicalization, and digitization are at the heart of the breakthrough development for all advanced countries in the world (Kaleniuk I., Kuklin V., 2012).The strengthening of competition at the current stage of civilizational development causes new factors and mechanisms of market struggle to come to the fore. These include the growing importance of intellectual resources and creative products as key factors in competitiveness. One of the important tasks of the economic activity of countries in the global environment is the accumulation and implementation of intellectual resources, which can determine the pace of the country's development, in general, shape the global parameters of world economic development. In fact, the intellectualization of society becomes one of the most important conditions for intensive development, expansion of spheres of influence, and realization of national interests. The term “intellectualization of the economy” refers to this type of economic development of the world economy, which is characterized by an increase in the role of knowledge and education as key factors in its provision.At the level of productive forces, the intellectualization of the global economic system is manifested in the predominance of ensuring the growth of labour productivity of intellectual factors, the growth of their role in the process of technical and economic combination of personal and material factors of production, as well as in the interaction of man with nature, increasing the level of intellectualization of the human worker (Global economy…, 2008).The strengthening of the intellectual component in all sectors of economic activity is due to the need to solve urgent problems of society, to produce the latest development strategies. This happens both at the expense of own innovative intellectually rich products and by borrowing existing ones from other countries. The question is that under modern conditions, the existing concept of intellectualization of the economy takes on new features and forms. This is reflected in the continuous production of key innovations and the improvement of existing products and processes. Constant attention to increasing the intellectualization of the economy at all its levels enabled the USA, the EU, Japan, and China to occupy the positions of world leaders in scientific, technological, and economic aspects (Lyakh V., Udovik S., 2006). Intellectualization of the economy becomes the main trend of development under the condition of transition to a new type of society, which changes the relations between market participants. Note that these processes are most pronounced in countries close to post-industrial society. In the economies of countries with a rustic system, these processes are quite insignificant, which is due to limited development opportunities.Identifying the most effective factors of the countries’ economic success in modern conditions are the issues of particular interest for economic science. An important task in the context of economic development research is to find out strong relations between individual indicators. Moreover, studying the relations between intellectual activity (resources and outcomes) and GDP growth indicators is of great interest.A priority direction of development in the context of the Fourth Industrial Revolution and new technological framework formation for modern Ukraine is to complete the economy’s industrial structure and to undertake gradual transformation not only into the post-industrial stage but also into the knowledge economy. To ensure the economy’s competitiveness today, awareness of the role of knowledge is essential.