Regulatory policy of innovative and investment development of enterprises in the context of global digitalization

Abstract

State regulatory policy is an important factor in innovation and investment development of enterprises, as it ensures creation of favorable investment climate that will provide for attraction of capital to implement innovation projects. In the context of global competition, countries must develop effective legal regulation that not only supports national enterprises, but also promotes their integration into the international economic space. The purpose of the study is to substantiate principles of the regulatory policy of innovation and investment development of enterprises in the context of global digitalization. In the article, feasibility of applying methodology of the institutional approach to the study of the regulatory policy of innovation and investment development of enterprises in the context of global digitalization is substantiated. Essential features of the legal regulation and its significance for innovation and investment development of enterprises are outlined, which includes legal basis for regulating socio economic development, the element of the economic system to regulate development of innovation and investment development of enterprises, as well as state management tool and means of increasing management efficiency. Criteria for effective innovative and investment development of enterprises in the context of global digitalization are analyzed. Functional features and directions for modernization of the legal regulation of Ukraine regarding innovative and investment development of enterprises as element of the state regulation system are determined, regulatory and legal support for innovative and investment development of enterprises and principles of the regulatory life cycle are clarified. Principles of the mechanism of the regulatory policy for innovative and investment development of enterprises and its functionalities are outlined directed to create conditions for formation and development of potential and activation of innovative and investment activities of enterprises. Since digitalization of the policy is manifestation of globalization processes, which radically changes modern trends in political processes, functional purpose of institutional institutions and scenarios for development of processes in the future, directions for increasing effectiveness of the regulatory policy through digitalization were determined as the tool to improve methods and tools for interaction between participants in innovative and investment processes.