Modern peculiarities of Ukraine’s integration into the world economic space

Economic Annals-ХХI: Volume 144, Issue 9-10(1), Pages: 14-17

Citation information:
Galaziuk, N., Zelynska, O., & Urban, O. (2014). Modern peculiarities of Ukraine’s integration into the world economic space. Economic Annals-XXI, 9-10(1), 14-17. https://ea21journal.world/index.php/ea-v144-03/

Natalia Galaziuk
PhD (Economics),
Associate Professor,
Lutsk National Technical University
75 Lvivska Str., Lutsk, 43018, Ukraine
galazyk-n@ukr.net

Olga Zelynska
PhD (Economics),
Associate Professor,
Lutsk National Technical University
75 Lvivska Str., Lutsk, 43018, Ukraine
zrw@ukr.net

Oksana Urban
PhD (Economics),
Associate Professor,
Lutsk National Technical University
75 Lvivska Str., Lutsk, 43018, Ukraine
urban-oksana@rambler.ru

Modern peculiarities of Ukraine’s integration into the world economic space

Abstract. Introduction. To establish close interconnection with natural economic partners is a serious task for the developing economies as well as transitive countries. Nowadays Ukraine faces a serious problem of global standards in international cooperation adaptation to the national management. An important strategic partner of Ukraine is the European Union. It is vital to our country to form mutually lucrative cooperation with it and adopt the best European practices into different areas of economic and governmental activity in Ukraine.

Purpose. In this context, it is necessary to analyze and evaluate the prospects of Ukraine’s integration into the world economy in conditions of political and economic crisis and to find effective mechanisms of the national economy adaptation to the EU standards.

Methods. The statistical and comparative methods were applied in research to assess international trade data.

Results. It is suggested to use a model of «open» economy and to liberalize foreign economic relations of Ukraine. We pointed out the factors which influence the gradual integration of Ukraine into the European structures, including the European Union. The necessity of the Economic Association Agreement with the EU has been underlined.

Conclusion. Strategy of Ukrainian international economic entities should be aimed at: improving the competitiveness of Ukrainian enterprises and markets expanding; restoration, development and improvement of the structure of exports; welfare of the population and thus, contribution to sustainable economic growth; advancement of Ukraine in the international division of labor.

Keywords: Integration; Global Economy; Public Regional Policy; Strategy; Crisis

JEL Classification: F01; F15; F62; G18

References

1. Burakovskyi, I. (2008). Analysis of the economic consequences of Ukraine’s accession to the WTO: renewed estimation. Kyiv: International Charitable Organization «Humanitarian Foundation One World», Institute for Economic Research and Policy Consulting (in Ukr.).
2. Vlasiuk, O. S. (2005). Ukraine: Strategic priorities. Kyiv: Knowledge (in Ukr.).
3. Heyets, V. M. (2009). Expanding financial and economic crisis in Ukraine in 2009: negative effects and means of mitigation. Kyiv: NAS of Ukraine; Institute for Economics and Forecasting (in Ukr.).
4. Lutsyshyn, S. A. (2002). Transformation of the global financial system in the context of globalization. Kyiv: Print (in Ukr.).
5. Rodicheva, L. (2011). Integration of Ukraine into the world economy. Halytskyi ekonomichnyi visnyk (Galician Economic Herald), 2(31), 5-9 (in Ukr.).
6. EU and local self-government: Visegrad cities experience and Ukrainian prospect (2008). In O. I. Soskin (Ed.). Kyiv: Institute of Society Transformation (in Ukr.).
7. Kolomiets, G. M. (2004). Uncertainty development of economic systems and their reform. Kharkiv: Kharkiv National University (in Ukr.).
8. The State Statistical Service of Ukraine (2013). Trade and economic cooperation EU – Ukraine.
   Retrieved from http://ukraine-eu.mfa.gov.ua/ua/ukraine-eu/trade-and-economic/ukraine-eu-trade (in Ukr.)
9. The Strategy of economic and social development of Ukraine in 2004-2015 (2004).
   Retrieved from http://zakon4.rada.gov.ua/laws/show/493/2004 (in Ukr.)

Received 01.07.2014