Eco-innovations under conditions of glocalization of economic and sustainable development of the regional economy

Abstract

The aim of the study is to indicate the essence and increasing importance of the ecologization of innovative development in the glocalization of economic processes as well as the potential benefits of eco-innovation for long-term objectives of regions development. The study systematize the knowledge on this topic, and indicate the necessity of their continuous development. The applied methodology is based on an analysis of scientific literature European countries. The research methodology is systematization of approaches to the direction of innovation processes for the development, creation and implementation of innovations in the form of new products, technology, method, form of production organization, etc., which directly or indirectly contributes to reducing the environmentally destructive effects of production and consumption on the environment and solving environmental problems. The authors hypothesis is that the glocalization on the basis of the implementation of environmental innovations will contribute to the sustainable development of the economy of the regions. This is a new way of looking at the region development, i.e. that looks at how ecologization of innovative development should be used for strategic advantage of region and how processes of ecologization of innovative development of the region can be a catalyst for the processes of market glocalization
and promote sustainable development of the regional economy.