Innovative Economy in the 21st Century: Contradiction and Opposition of Developed and Developing Countries

Abstract

Purpose: The purpose of the research is to perform a comparative analysis of scientific and practical approaches to formation and development of innovative economy in modern developed and developing countries and to determine scenarios of opposition of developed and developing countries in the global innovative economy until 2030. Design/methodology/approach: The authors use the dialectical method of scientific cognition and use the Law of unity and fighting of oppositions for describing the contradiction (difference in the approaches of formation and development of innovative economy) and opposition (competition in common world markets of innovations and hi-tech products with commonness of the internal mission) of the modern developed and developing countries in the global innovative economy of the 21st century. The research objects are 6 developed and 6 developing countries, which are leaders (in their categories) in the global rating of countries as to the level of development of innovative economy of Cornell University, INSEAD, and WIPO for 2018. Findings: It is substantiated that innovative economy in the 21st century is a source of contradiction and the field for opposition of developed and developing countries. They use different scientific and practical approaches to formation and development of innovative economy. The approach that is used by developed countries stimulates their quick development and supports their competitiveness. The approach that is used by developing countries does not fully conform to their interests and requires correction. Originality/value: It is recommended to increase all indicators of innovative economy be developing countries: share of medium-tech and hi-tech industry in the structure of added value of the real sector, share of expenditures for R&D in GDP, publication and patent activity, share of the number of researchers, and share of export of hi-tech products in the structure of industrial export in 2018. It is shown that this will created an opportunity for implementing the most optimal scenario of long-term (until 2030) development of the global economy, within which its balance and sustainability are achieved.