Institutional aspects of innovative development of the national economy of Germany

Abstract

This study examines an institutional approach to the study of the innovative economy of Germany, which has the institutional infrastructure of a national innovation system, which includes the following institutions: public free higher education, information, nano and biotechnologies, innovative sectors of the economy (mechanical engineering, pharmaceuticals, production of medical equipment, chemical and biotechnology industries, energy, metalworking,), public and private financing of research and development work, protection of intellectual property rights, human capital, dual education, applied research institutes, immigration legislation. However, despite the above advantages of Germany’s innovation system, its national economy has a number of problems, in particular in the development of venture capital and increasing the country’s competitiveness in new markets. The issue of the relationship between human capital and innovative development is studied, and the advantages and disadvantages of the specialist training system in Germany are considered. This article also examines the issue of government incentives for scientists, including young scientists, in solving applied problems, including measures to attract foreign specialists, measures to support the system of training scientific specialists in Germany, as well as other measures.