Economics and management of national economy

Areas of improving Ukraine’s export potential in the formation of a new model of socio-economic development

Economic Annals-XXI

Economic Annals-ХХI: Volume 162, Issue 11-12, Pages: 38-42

Citation information:
Кolodiy, S., Hariaha, L., & Rudenko, M. (2016). Areas of improving Ukraine’s export potential in the formation of a new model of socio-economic development. Economic Annals-XXI, 162(11-12), 38-42. doi: https://doi.org/10.21003/ea.V162-08

View Full-TextDownload PDF

Serhii Кolodiy
D.Sc. (Economics),
Professor,
State Higher Educational Institution Banking University Cherkasy Institute
164 Chornovil Str., Cherkasy, 18028, Ukraine
kolodii_sergei@list.ru

Lesia Hariaha
PhD (Economics),
Associate Professor,
State Higher Educational Institution Banking University Cherkasy Institute
164 Chornovil Str., Cherkasy, 18028, Ukraine
garyaga@ukr.net

Mykola Rudenko
PhD (Economics),
Associate Professor,
State Higher Educational Institution Banking University Cherkasy Institute
164 Chornovil Str., Cherkasy, 18028, Ukraine
mykola_rudenko@mail.ru

Areas of improving Ukraine’s export potential in the formation of a new model of socio-economic development

Abstract. Introduction. Strengthening Ukraine’s position in the world economy requires an effective mechanism for sustainable exports as a constituent element of international trade and national economic development based on available natural, financial and human resources taking into account the formation of a new model of socio-economic development.

The purpose of the article is to study the vectors of development of Ukraine’s export potential considering possible models of socio-economic development.

Results. The authors identify three stages of socio-economic development of Ukraine: deep and fairly prolonged time transformational recession in 1990-1998; renewable growth in 1999-2009; weak economic growth in 2010-2012 which passed into stagnation due to a significant decrease in prices in global resource markets in 2013-2015. It has been proved that the dynamics of Ukraine’s export commodity structure is characterised by resource orientation of the national economy because ferrous metals and crop production amount over a third of state revenues from foreign trade. The basic options for reforming the national model of socio-economic development in the medium term are described with regard to export opportunities of Ukraine.

Conclusions. The state should provide a constant growth of export potential in the long term due to both the development of new production and technological restructuring of traditional industries. In the short and medium term, there is appropriate contemporary development of four models of individual elements within specific regions taking into account available resources and the existing production base.

Keywords: Economy of Ukraine; Export Potential; Socio-economic Development; GDP; Institutional Transformation

JEL Classification: F47; O11

DOI: https://doi.org/10.21003/ea.V162-08

References

  1. Wolf, H. C. (1994). The Economics of Disintegration in the Former Soviet Union. In A. Schipke, & A. M. Taylor (Eds.). The Economics of Transformation. Theory and Practice in the New Market Economies. (pp. 1-15). Berlin: Springer Berlin Heidelberg.
    doi: https://doi.org/10.1007/978-3-642-78615-0_1
  2. Halchynskyi, A. S., Heyets, V. M. et al. (2002). The innovative strategy of Ukrainian reforms. Kyiv: Znannya Ukrayiny (in Ukr.).
  3. Blyzniuk, V. V., Hritsenko, A. A., Kvasniuk, B. Ye. et al. (Eds.). (2003). Economy of Ukraine: strategy and policy of long-term development. Kyiv: Feniks (in Ukr.).
  4. Lupenko, Yu., Mesel-Veseliak, V. et al. (Eds.). (2012). Strategic directions of development of agriculture of Ukraine till 2020. Kyiv: NNTs «IAE» (in Ukr.).
  5. Auty, R. (2001). Resource Abundance and Economic Development. Oxford: OUP.
  6. Hesse, H. (2008). Export Diversification and Economic Growth. (Working Paper No. 21). Washington: The World Bank.
    Retrieved from http://siteresources.worldbank.org/EXTPREMNET/Resources/489960-1338997241035/Growth_Commission_Working_Paper_21_Export_Diversification_Economic_Growth.pdf
  7. Chow, P. C. Y. (1987, June). Causality between export growth and industrial development. Journal of Development Economics, 26(1), 55-63.
    doi: https://doi.org/10.1016/0304-3878(87)90051-4
  8. Shubravska, O., Moldavan, L., Paskhaver B. et al. (Eds.). (2012). Innovative transformation of the agricultural sector. Kyiv (in Ukr.).
  9. State Statistics Service of Ukraine. (2016). Official web-site.
    Retrieved from http://www.ukrstat.gov.ua
  10. Kolodiy, S. Yu., Harіaha, L. O., & Rudenko, M. V. (2015). Ukrainian economic development: «resource curse» or post-socialist transformation consequence. Economic Annals-XXI, 7-8(1), 36-39.
    Retrieved from https://ea21journal.world/index.php/ea-v152-09/ (in Ukr.)
  11. Kobuta, I. V. (2011). Assessing the impact of state regulation of grain export in Ukraine. Ekonomika i prohnozuvannya (Economics and Forecasting), 4, 139-147 (in Ukr.).
  12. Keyns, Dzh. M. (2007). General Theory of employment, interest and money. Favorites. Мoscow: Eksmo (in Russ.).
  13. Soskin, O. I. (2010). The model of capitalism as a basis for competitive development of Ukrainian economy. Ekonomist (The Economist), 2, 21-25 (in Ukr.).

Received 12.07.2016

View Full-TextDownload PDF
In, , , , , ,

More Papers