SCIENTIFIC PRODUCTION AND THE SPECIFICITY OF ITS FINANCING: FOREIGN EXPERIENCE

The purpose of the study is to review the main differences between high-tech industries and traditional ones, highlight the features of financing high-tech industries based on the study of foreign experience.
Methodology - to conduct this study a review of sources on the distinguishing characteristics of financing high-tech industries was conducted. In order to obtain the distinctive characteristics of high technology production scattered knowledge in the terminology of high technology production is systematized. A study of the experience of financing high-tech industries in the USA and China was also carried out using the methods of analysis and synthesis.
Originality / value - In this paper, an overview of the main differences between high-tech production from the traditional one, as well as the specifics of financing high-tech industries are conducted. The article reveals the experience of financing high-tech industries in the United States, as a leader in high technology, and China, as a leader in the export of high-tech industries. The analysis allows us to trace the development trends of hightech industries in advanced countries. This study allows us to draw conclusions and recommendations for use in strategies and concepts for the development of high-tech industries.
Results - the peculiarity of financing high-tech industries is determined by a high degree of uncertainty and a long payback period for projects of this type. The main factors, such as the stage of the life cycle of innovative production, the degree of development of market and institutional infrastructure influence the choice of the method of financing high-tech industries.

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