INFLUENCE OF INTELLECTUAL CAPITAL ON INNOVATIVE DEVELOPMENT OF COUNTRIES

Abstract

The article analyzes the category of «intellectual capital» for the purpose of possible regulation and management of competitive advantages. The competitiveness of the company directly depends on the completeness and success of the use of its intellectual capital, as well as on investments in intellectual capital development. The priority direction of the activity of modern economic entities is the formation and efficient use of intellectual capital. It is the main driving factor of an innovative economy. Today, Ukraine demonstrates the sad state of Ukrainian science. This is the result of inadequate funding. Therefore, Ukraine remains at the periphery of the world's innovative developments. Issues of development and support of intellectual capital for Ukraine remain relevant. The purpose of the work is to determine the specifics of the content of «intellectual capital» and to identify the influence of competitive advantages on the company's competitiveness. In the course of the study, on the basis of the analysis of the cost of science in the state budgets, it was concluded that the economic strategy of Ukraine's innovation development should be actively supported by the state for the development of its intellectual capital. To achieve this, there should be a significant increase in funding for research and development, to ensure a steady increase in investment in leading universities (science-intensive universities), to raise the intellectual capital of state structures and authorities.