Theoretical and Conceptual Basis of the Innovative Paradigm of the «Green Economy» in Terms of Glocalization

Abstract

Introduction. The “green economy” is the economy that enhances the well-being of people and ensures social justice, significantly reducing risks for environment. Innovation is an integral part of the “green economy”. Determination the innovation development “green economy” as priorities by countries and regions is their competitive advantage in long-term period, so ecologically-oriented innovations are prominent as the strategic sector of the economy in many countries. One of the challenges for the regions is that the realization of the “green economy” paradigm takes place under the conditions of glocalization that is mutual harmonization of global and local manifestations, that should be taken into account in regional policy development.
 
 Purpose. The objectives of this study are to determine the theoretical and conceptual foundations for the implementation of the innovation paradigm of the “green economy” concept and strategizing of ecologically-oriented innovation development of regions in terms of glocalization of economic processes.
 
 Results. By its nature, glocalization is a co-ordination of global and local manifestations of a certain phenomenon. The glocalization of economic processes in the region is expressed through three key components:
 
 1) local – a unique socio-ecological and economic environment of a country / region. Formation of a favorable innovative environment is one of the main tasks of the regional ecologically-oriented innovation policy;
 
 2) global – the integration of national / regional socio-ecological and economic systems into global networks, thereby providing environmentally-oriented innovation activities with relevant resources (financial, human, technical, informational) from local and global sources, by facilitating access and creating opportunities for their usage. The limitation of the formation of an innovative environment in a certain territory leads to a “trap” of local communication over time, when all its reserves are exhausted and there is no further development of channels of communication and diffusion of innovations;
 
 3) institutional – consolidation of the norms and customs of global-local interactions in the form of laws, organizations, institutions in order to complement the combination of global, national and local interests.
 
 The introduction of smart specialization aims at increasing the competitiveness of the regions, integrating regional systems into national, international and global value-added chains.
 
 Innovative smart specialization strategies in the regions open the prospects of joining the European Platform for Smart Specialization and opening access to the regions of Ukraine to the Platform tools, which will allow to determine the economic and innovative specialization of the regions, improve cooperation with the EU regions in the thematic areas (modernization of industry, food production, energy etc.), to expand access to EU structural funds, to increase synergy between different policies of Ukraine and the EU, to increase public and private investments.
 
 Introduction of smart specialization into the process of strategic planning of innovation development of the regions of Ukraine will ensure the identification of priority areas for investment at the regional level, increase the efficiency of usage of local and attracted financial resources of the regions through their focus on the development of innovations in potentially promising economic activities.
 
 In order to promote the implementation of the principles of the “green economy” concept in the regions of Ukraine, the selected spheres of smart specialization should be tested in accordance with the goals of sustainable development in the context of social, economic and environmental goals.
 
 Conclusions. Glocalization of the innovation paradigm of the “green economy” concept is manifested through a combination of local peculiarities of the socio-ecological and economic environment of the country / region with their integration into global networks, thereby providing ecologically-oriented innovation activities with relevant resources (financial, human, technical, informational) from local and global sources, by facilitating access to them and creating opportunities for their usage, requiring adequate institutional provision.