ECONOMIC AND LEGAL REGULATION OF THE ACTIVITIES OF PUBLIC ADMINISTRATION ENTITIES IN THE INNOVATION SECTOR

The subject of the study is public relations in the field of economic and legal regulation of innovation activity. Methodology. The methodological basis of the study is the methods of induction and deduction, the dialectical-materialist method, the method of analysis and synthesis, and the historical method, which allowed for an objective understanding of the content and essence of the issues under study. The purpose of the article is to analyse the theoretical and practical aspects of economic and legal regulation of activities of public administration entities in the innovation sphere in Ukraine and developed countries, and to propose effective ways to improve the mechanism of the relevant state policy. The results of the study show that the State economic and legal regulation of innovation activity is carried out with the aim of ensuring progressive transformations in the field of material production, increasing the competitiveness of the national product in the world market, improving the environmental situation, and strengthening the security and defence capability of the country. The economic and legal regulation of the activities of public administration entities in the innovation sphere should not restrict innovation processes (including through excessive structuring and detailing), but should set the direction of their evolution, constantly improve, dynamically monitoring changes in the situation. Conclusion. The main form of state support for the development of innovation is the economic and legal regulation of innovation activities, support for small innovative enterprises and the creation of a favourable innovation climate. The aim of state policy in this area is to move towards an innovative development path based on selected priorities. The state economic and legal regulation of innovation activity is carried out in order to ensure progressive transformations in the sphere of material production, increase the competitiveness of the national product on the world market, improve the environmental situation, strengthen the security and defence capability of the country. In order to achieve the effectiveness of innovation activities, it is necessary to adopt a new approach to solving the problems of antimonopoly policy, product quality management, safety and labour protection. This requires the adoption of new laws and regulations, which should take into account legal issues related to the development of production, resource conservation, environmental protection, etc. The regulatory framework of innovation activity should be brought in line with innovation policy, in particular, it should be closely linked to the measures provided for in the relevant state programme documents and should actively contribute to their implementation.