Determinants of the influence of innovation on sustainable state development: aspects of public administration

Abstract

This paper to identify the importance of the impact of innovation on the sustainable development of states and the classification of sustainable development innovations. Design/Methodology/Approach: classification, grouping for classification innovations, analytical economic method to explore innovative development in EU countries; correlation-regression analysis. The study found that the concept of sustainable development, which is implemented to meet the needs of society, taking into account and counteracting the negative environmental impacts and based on the balance of the socio-ecological-economic system, is also oriented towards growth. Such growth can also be achieved through innovation. The main factors of influence of innovations on the sustainable development of the country are identified. Measures have been developed to help manage innovation and achieve sustainable development goals. With this article we show that іn order to stimulate innovative sustainable development, it is necessary to develop and adopt an innovative strategy, simplify the procedures for obtaining patents and licenses, stimulate research and increase the financing of innovation.