Page 24 - Special Issue Modern Trends in Scientific Research and Development, Case of Asia

International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Modern Trends in Scientific Research and Development, Case of Asia
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

The System of Innovation and its Impact on

Economic Development

Taniev A. B PhD

Samarkand State University, Samarkand, Uzbekistan

ABSTRACT develop and improve educational services in the republic. In
The article discusses the factors that influence the developed countries, the university s are a hub of scientific
development of innovational activity in the republic. In research development. Many important radical innovations
order to test the impact of innovation expenditures on the were created in the laboratories of universities.
volume of innovations in the republic, we used linear
regression analyzes and found strong interdependence. The main part
Also, we discuss the role of human capital and the level of President of the Republic of Uzbekistan Sh.M.Mirzioev in his
development of financial system in stimulating continuous message to the Oliy Majlis emphasizes that " ... Today, we
investments on innovational activity . Furthermore, after turn to the path of innovative development, aimed at radical
analyzing the data about implemented innovations in 2019 improvement in all spheres of public life and society. And
in the republic, we found that higher educational as well as this is natural. After all, who is winning in today's rapidly
research institutions participated in innovational activity developing world? Only that state that relies on a new
very passively, which is of great concern. thought, new idea, innovation. Innovation means the

future. If we begin to build our great future today, then we
KEYWORDS: innovation, innovational economics, service, must do it primarily on the basis of innovative ideas, an
national innovation system, investment, economic mechanism, innovative approach [1]. One of the greatest economists
R&D, linear logarithmic regression analyzes, venture funds, Zh.A. Shumpeter first proved h the innovation according to
angel investors
him "constructive destruction" and "industrial mutation",
facilitates rapid growth [2]. American scientist Michael
INTRODUCTION Porter in his book “Competitive Advantage of Countries”
Today, Uzbekistan is gradually paying more attention to the argues that innovation is a key factor in
creation of an innovative economy. The creation of achieving competitive advantage at the micro and macro
the Ministry of Innovative Development of Uzbekistan and levels [3]. According to Cape, a broader definition of
a fund for supporting innovative development and innovation is as follows: innovation can be a product or
innovative ideas is the first step towards developing the
service, a new production process, a new organizational
economy through innovation. Adoption of strategies of structure, or a new plan or program for employees
action for further development of the Republic of of enterprises or organizations [4]. Professor I.T.
Uzbekistan on the 2017- 2021 years, allowed to speak boldly Abdukarimov defines innovation as an investment,
about the economic reforms in strategic areas of the
providing and replacing the generations of techniques and
economy including the development of a national innovation technologies, new equipment, technology, arising from the
system. The level of development of services, in particular achievements of scientific and technical process
educational services, strongly influences the well-being of
[5]. According to Professor OA Abdurakhmanov, innovation
the people. A quality educational service is a fundamental in tourism is a tourism product and services that contain
condition for creating a national innovation system. In a innovations for implementation and thereby contribute to
short period of time, a lot has already been done to create an the professional development of employees [6].
innovation system, most importantly, specific tasks have

been set for the near future on the implementation of Literature Review
innovation policy. Scientific activity, which is the main source of innovation, is
one of the types of services. The service sector accounts for
At the moment, as statistics show, the share of participation
almost half of the country's GDP. Famous scientists K. R.
of universities and research institutes in the development of Makkonell, S. L. Bryu, F. Kotler, T. Levitt and others in their
innovations remains low. Also, investment in innovation has works investigated the definition of services. For example, F.
declined in recent years due to the low efficiency of
Kotler defines service as " activities that can be offered to
investment assets. This all speaks of the need to create a one person by another person or beneficial effect which
sustainable economic mechanism for the implementation of prevents own than - or [7]. Among Uzbek scientists, I.S.
innovations, taking into account the interests of business and Ochilov defines a service as “the conscious activity of a
government, which should bring optimal benefits to society. person, society, and the state that brings benefit [8]”.
Also, it is important to note, that in the implementation of
innovation policies should take into account the interests of Methodology
business and other internal and external factors that can We used the log-linear regression model for checking the
change the direction of economic development. Creating volume relationship of innovation with the cost of
favorable conditions for business and small business can innovation. The calculations were performed using
create competitive markets and thereby improve the quality the Gretl program.
of the final product. But at the same time, it is important to

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