Article - Problems of Modern Economics

Beliakova N. V.
Assistant Professor, Chair of economics and management in the sphere of services, St. Petersburg State University of Economics, PhD (Economics)
Kuchumov A. V.
Assistant professor, Chair of economics and management in the sphere of services, St. Petersburg State University of Economics, PhD (Economics)
Eremicheva P. Yu.
PhD student, Department of Economics and Management in the Sector of Services, St. Petersburg State University of Economics

Innovation as a driver of economic development: Experience of China and Japan
(Russia, St. Petersburg)

The article is dedicated to the systems for supporting and developing innovation in China and Japan. The authors analyze theoretical and methodological aspects of the formation and implementation of innovation policy in these countries, highlighting the main similarities and differences. Particular attention is paid to the role of governmental agencies, the private sector, research institutions and international cooperation in the development of innovation ecosystems. The article presents material illustrating the resource distribution model in China and the principles of Japanese science and technology policy, including the “Society 5.0” strategy. The authors emphasize the importance of social innovation and government support for start-ups and investments in the digitalization of the economy and show that despite common features, such as active government participation and a focus on long-term planning, China and Japan demonstrate different approaches to innovation. China focuses on domestic development and modernization of the industrial sector, while Japan focuses on socially oriented innovation and addressing global challenges.

Key words: innovation, digital economy, digitalization, innovative technologies, regional economy, China, Japan

Pages: 139 - 144

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