International experience of capitalization of knowledge in terms of innovation economy

Abstract

The article examines the problems of knowledge capitalization in the innovation economy paradigm. The modern globalized world is characterized by the commercialization of educational and scientific activities, the formation of educational ecosystems, as well as the capitalization of knowledge as a resource. The paper describes the theoretical basis of knowledge capitalization and defines the stages of the formation of academic capitalism. It is defined that the capitalization of knowledge is an increase, the maximization of the value of own and engaged intellectual assets, as a result of the increase in the influence of higher education institutions and scientific institutions on the scientific-technical and socio-economic development of society, and commercialization is the process of turning knowledge into a commodity. A system of statistical indicators of capitalization of knowledge within the economy has been established (expenditures on education; the number of patents; share of costs for scientific research and development; costs for innovative activities; share of innovative enterprises in the total number of enterprises; share of income from the sale of innovative products to the total volume of products sold ). The methodology for calculating the model of the change in GDP per capita has been developed, taking into account the indicators of knowledge capitalization, and the algorithm of necessary actions regarding its application has been described. The hypothesis about the impact of capitalization of knowledge on the economic development of the state, namely the change in macroeconomic indicators, such as GDP (gross domestic product) per capita, has been confirmed. The author’s formula for determining the coefficient of the economic effect from the capitalization of knowledge is proposed, which reflects the ratio of investments in knowledge-creating (innovative activity) to the income received from the implementation of an innovative product. Investments in knowledge-creating activities are the number of expenses for scientific research and development, so the innovative product is a patent, as a formalized unit of knowledge. The calculation of the coefficient of the economic effect of knowledge capitalization for Ukraine and the Republic of Poland was carried out, which clearly showed the expediency of implementing the knowledge capitalization experience of Poland and the need for a balanced internal policy to stimulate educational, scientific and innovative activities with the attraction of appropriate investments in Ukraine.