Innovation Policy as a Component of State Economic Policy in Modern Economic Conditions

Abstract

The article is devoted to the theoretical and legal analysis of innovation policy as an integral and priority component of the state's economic policy in the context of contemporary transformations in the national and global economy. The relevance of the study is determined by the intensification of global technological competition, the need to ensure Ukraine's economic and defence stability, as well as institutional changes in national legislation, in particular, the repeal of the Economic Code of Ukraine, which for a long time performed a systematising function in the field of state regulation of economic activity. The methodological basis of the article consists of systemic, formal-logical, and formal-legal methods, which enabled the study of the relationship between the legal architecture of economic policy and the effectiveness of innovation processes. The work emphasises that the absence of a coherent codified core of economic policy and the definitive uncertainty of innovation policy create a significant institutional vacuum, which complicates the coordination of state regulation, weakens horizontal coordination between authorities, and hinders strategic technological development. Based on an analysis of the Constitution of Ukraine, current laws, subordinate legislation, and doctrinal approaches, the fragmentation of the legal framework for both economic and innovation policy has been identified, which negatively affects the state's ability to ensure the structural modernisation of the economy, stimulate innovation, and support high-tech sectors, in particular the defence-industrial complex.  As a result, several proposals were formulated regarding the institutionalization of innovation policy at the legislative level, specifically: the need to establish a comprehensive definition of innovation policy, to incorporate it as a component of state economic policy, and to enhance mechanisms for interdepartmental coordination. It is argued that the institutionalisation of innovation policy is a key prerequisite for economic recovery, ensuring competitiveness, reducing transaction costs, and forming a comprehensive model of the national economic order.