The challenge of transitioning from a resource-dependent economy to an innovation-driven model of sustainable development

Abstract

The article examines the problem of transition from a resource-dependent economy to an innovative model of sustainable development under conditions of global transformations, economic digitalization, and increasing environmental and socio-economic challenges. It is substantiated that the traditional resource-based economic model, focused mainly on the exploitation of natural resources and raw material specialization, is gradually losing its efficiency due to high dependence on fluctuations in global markets, instability of the external economic environment, low level of technological modernization, and insufficient development of innovation activity. It has been determined that a resource-dependent economy is characterized by high energy intensity, weak diversification of production, limited development of high-tech industries, and increased risks to the economic security of the state. The study explores the essence of the innovative model of sustainable development and identifies its key characteristics. It has been established that the innovative development model is based on the effective use of intellectual capital, digital technologies, scientific achievements, education, and innovation infrastructure. Particular attention is paid to the role of digital transformation, automation of production, artificial intelligence, big data, and modern information technologies in ensuring economic modernization. It has been proved that the introduction of innovations contributes to increasing the competitiveness of the economy, improving resource efficiency, enhancing the adaptability of enterprises to crisis changes, and ensuring long-term economic sustainability.

Special attention is paid to the transformation challenges facing the Ukrainian economy under conditions of war-related threats and post-war recovery. It has been determined that the formation of an innovative model of sustainable development in Ukraine requires industrial modernization, support for high-tech sectors, development of human capital, stimulation of innovative entrepreneurship, and integration into the global innovation environment. The study identifies the key directions for ensuring economic transformation, including the development of innovation infrastructure, improvement of state policy in the field of science and innovation, support for the digital economy, creation of a favorable investment climate, and implementation of ESG-oriented management principles.

The research concludes that the transition from a resource-dependent economy to an innovative model of sustainable development is a necessary condition for strengthening economic security, increasing competitiveness, and ensuring long-term resilience of the national economy in the context of global transformations and technological changes.