FOREIGN EXPERIENCE IN THE EFFECTIVE USE OF THE INNOVATIVE POTENTIAL OF THE NATIONAL ECONOMY AND OPPORTUNITIES FOR ITS APPLICATION

Abstract

This article examines the foreign experience of effectively utilizing the innovative potential of the national economy and the opportunities for its application in domestic conditions. In the modern global economy, the competitiveness of countries largely depends on how effectively they use their innovative potential, which makes it important to study the experience of developed countries and states successfully following the path of innovative development. The study systematically analyzes the content and essence of the concept of innovative potential and its structural elements — scientific-technical, human resource, financial, production-technological, and information potential. It also comparatively examines the practical experience of forming national innovation systems in South Korea, Israel, and Finland. The findings show that the effective use of innovative potential is ensured through public-private partnership, the integration of science and production, and the development of innovation infrastructure. Based on the conclusions obtained, practical proposals are developed for the effective use of the innovative potential of Uzbekistan’s national economy.