In this paper the Neo-Schumpeterian concept of the Technological Paradigms
has been taken as the methodological base to explain a nature of
contemporary economic crisis in general and in cases of the European
transitive countries, in particular of Ukraine. The conceptual background of
the current anticrisis measures is narrower than theoretical discussions
about causal factors of the crisis. Overview of prescriptions to cure the
actual crisis showed that much more attention is attracted to the
neoclassical theories which explain economic cycles by the impact of
different from innovation factors, mainly by the visible financial
turbulences. But there is a more fundamental basis of current crisis than
short-term disturbances due to the subjective incorrect financial decisions,
criminal behaviour, and a “bad” government. All mentioned types of
occurrences take place in any times, but the mass character of such mistakes
emerges when the one socio-technological paradigm of human civilization
comes to be over and new paradigm starts to mature. The paper gives
arguments that the innovation technological change and the corresponding
structural reconstruction of economy are the means to overpower the
recession and to ensure the sustainable economic growth. It is presented the
comparative analysis of Ukrainian industry and exports in the viewpoint of
the technological paradigms approach, and the elaborated statistical tools
to recognize technological paradigms’ innovations of as factor of the
contemporary economic development. The policy makers of transitive
countries, especially in Ukraine, need to admit the objective nature of
these processes. It can help create more effective economic policy
implementations to overcome crisis and to not allow it to arise in the
future, especially take into account that the innovation technological
determinism shapes the means and results of the global competition between
countries and causes their place in the global development rank.