Economy of Ukraine (Russian) - - Содержание -

(на ан­глий­ском язы­ке)

Zveryakov M. I. “Globalization and deindustrialization: content, contradictions and ways to solve them” – A theoretical analysis of the crisis of the neoliberal model of globalization, which led to the processes of deindustrialization in many countries of the world, including Ukraine, was presented. It is shown that in the process of globalization, national states gradually lost their role as decision making centers and became elements of a larger global economy. There was a gradual loss of national state sovereignty by the states that entered the orbit of global economic forces and international institutions. It is noted that global regulators act in favor of TNCS, for which any national restrictions become an obstacle to the attraction of national resources to global economic turnover. It is stressed that the subordination of national interests to forces of global market is the main content of the process of globalization at the present stage. It is emphasized that the effect of the forces of global capital in the form of TNK, on the one hand, and resistance to such an action by national states on the other, constitute the main contradiction of the world economic development. An analysis of the process of deindustrialization as a consequence of the globalization process has been carried out. The process of transition in the USA from deindustrialization to reindustrialization under the influence of the “shale revolution” is considered. It is noted that as a result of renewal of development of high tech branches of the real sector of economy in Western countries, the global economic model is changing, which gives a chance to overcome the negative consequences of the global crisis. An analysis of various models of capitalism under conditions of neo liberal globalization, including those in the countries emerging in the post socialist space, has been carried out. It is shown that solving the existing contradiction between current and long term tasks in Ukrainian economy is possible on the basis of a reproductive approach.

Korablin S. А. “The Washington Consensus: then and now” – Despite the third decade of market reforms, their successes in the Ukrainian economy remain quite modest. This unwittingly raises questions about quality of national transformations and possible directions of their improvement. Since the international institutions led by the IMF are tailoring the financial “adjustment” of the reforming countries, there is an obvious interest in their definition of an effective economic policy, which prior to the global crisis of 2008– 2009 was seen as the Washington consensus.

The initial popularity of the Washington consensus began to melt in the late 1990s after the Asian crisis and the disappointing outcomes of neoliberal reforms in a number of emerging markets and post soviet economies. These reputational losses turned out to be all the more serious that the Washington consensus did not stand still and managed to offer its improved version – “second generation reforms”.

However, their shortcomings, in turn, were revealed during the global crisis of 2008– 2009: both in its unpredictability and in the methods of overcoming, when industrialized countries practically abandoned almost all the postulates of the Washington consensus, giving preference to alternative Keynesian instruments.

In the case of small, commodity economies, the Washington consensus does not take into account their rigid link to global cycles of raw material conjuncture, the overcoming of which requires technological development and modernization of national industries. However, these tasks lie outside the framework of the reforms of the “first” and “second” generations, leaving open the question on macro financial stability of such economies. This conclusion is all the more fundamental that despite the changing rhetoric – since

the term “the Washington consensus” has practically disappeared from the official lexicon of international organizations – their stabilization programs continue to conceptually coincide with the set of “second generation reforms”.

Huang Xiaoyong “Path exploration for advancing the Gasyuan Strategy” – This paper makes in depth analyses of the market impetus and political logic for the formation of gasyuan. From a market perspective, the formation of gasyuan stems from the push behind supply demand imbalances in the natural gas market and the concentration of its comparative advantages. The main political logic lies in the fact that natural gas, as a determinant of the energy era of gas, bears both financial and power attributes. Based on such basic conditions, the article investigates the feasibility of the Gasyuan Strategy, which is reflected by the following three aspects: (I) Stable growth of gas trade in the future will become a carrier of renminbi’s internationalization; (II) LNG development offers more conveniences for gas trade and conditions for global gas trade; (III) China’s advantageous economic and geographic conditions facilitate the establishment of a regional or global gas trade center.

The concrete measures needed to be taken in the process of pushing the Gasyuan Strategy, in particular: establishing a Northeast Asian gas trading center; steadily advancing the reform of the domestic oil and gas industry; promoting construction of gas pipeline facilities and interconnectivity in Northeast Asia and Russia, etc. Despite inadequate politically mutual trust and difficulties to coordinate economic interests between the three countries in Northeast Asian (China, Japan, the ROK), China is still likely to gradually advance cooperation with Japan and the ROK in various fields and set up a regional gas trading market to lay a solid foundation for the implementation of the Gasyuan Strategy.

Kindzerskii Yu. V. “Deindustrialization and its determinants in the world and in Ukraine” – The main determinants that caused deindustrialization in the world and in Ukraine, as well as the forms and results of their manifestation in the global and national economic systems, are identified. Two approaches are used to identify these determinants. Using the first approach (the resource one), which considers only the level of providing the development with resources and is used by UNIDO, the nature of deindustrialization in developed countries is analyzed. It is shown that deindustrialization is primarily due to technological determinant and its peculiarity is the accretive social regression of society on background of technological progress and leadership of developed countries, associated with scientific and technological achievements of the Third and Fourth Industrial Revolutions. Among negative social consequences of these Revolutions are the withdrawal of a person from the process of economic activity and creation of a new value.

The limitations of the resource approach to identifying the determinants of deindustrialization of economies of inversion type, which include the economy of Ukraine, are shown. An alternative approach (institutional and structural one) is suggested; according to this one, emergence and interdependence of the manifestation of determinants are presented in the institutional context in terms of not only the fact that society has resources for development, but also the level of effectiveness of its institutional system to manage these resources. With this approach, institutional and political, organizational and managerial, foreign economic, structural and production, financial and investment, innovation and technological and social determinants of deindustrialization in Ukraine are singled out; the logic, hierarchy, variations and results of their interaction for economy and society are disclosed.

The main features of these determinants include: (i) a deforming the institution of property, which caused the formation of oligarchy and the subordination of the state to its interests; (ii) an insecurity and blurriness of property rights against the backdrop of excessive external openness of the economy and, as a consequence, structural primitivization of production along with growing demands for consumption and formation of a debt consumption model in the state, business and the population; (iii) a change in the integration vectors of the country’s development, together with the change of its industrial specialization in foreign markets into agrarian and raw materials one; (iv) an impossibility of commercializing the socium on an innovative basis with the formation of an ineffective paternalistic system of social protection of the population. The recommendations to incorporate determinants outlined when determining the directions of the national economy development are proposed.

Pleskach V. L., Zatonatskaya T. G., Oleksyuk L. V. “Problems of e commerce development in Ukraine” – Every year, e commerce is becoming increasingly important in national economies and is the flagship of innovation, the emergence of the latest information technologies (IT) and e services through the use of e transactions. These ITS include cloud services, electronic payment systems, web services, etc. The purpose of the article is to identify the problems of e commerce development for their further solution. Unfortunately, the main tasks in the context of e commerce according to the Legislative Reform Support Plan in Ukraine, approved by the Verkhovna Rada of Ukraine Resolution No. 509 VІІІ dated June 4, 2015, have not been fulfilled.

In the process of research, a systematic approach and methods of comparison and analysis were used when processing the statistical data on e commerce. The state should adopt institutional measures to stimulate the development of e trade and turn it into one of the “locomotives” of the economy, as well as identify the responsible body for the formation and implementation of the state policy in the field of e commerce.

The Laws of Ukraine “On e commerce” and “On the protection of consumer rights” should be amended in accordance with the implementation plan of Directive 2000/31/ EC “On e commerce” (“On certain legal aspects of information society services, in particular electronic commerce, in the Internal Market”) and Directive 97/7/EC “On the protection of consumers in respect of distance contracts”. It is necessary to establish a consultative advisory body in the form of a working group (Resolution of the Cabinet of Ministers of Ukraine No. 599 of June 17, 2009) under the Ministry of Economic Development and Trade of Ukraine with the participation of all the stakeholders. This body should prepare a draft Roadmap for e trade development and a system of indicators of its development to monitor the effectiveness of implementation of the Roadmap for e trade development as one of the factors promoting the information society in Ukraine.

Pritulyak N. N. “Assessment of the level of the national human capital development in Ukraine” – Choice of the subject matter of the article is conditioned by the deep conviction that the very fact of assessing the national human capital will contribute to changing the views accepted in Ukrainian society on this unique resource, which contributes to modern development of society and to formation of awareness of the need to preserve and multiply this wealth. These same considerations have determined goals and objectives of the article.

Based on the fact that human capital is multidimensional economic phenomenon, which has a complex internal structure, analytical study of its state and development trends is performed by dividing this phenomenon into major components on the basis of indicators

such as demographic trends in the country, processes of reproduction and accumulation of health, educational, scientific capital and innovation activity, along with criteria determining the standard and quality of living of Ukrainian population.

Given the fact that human capital is formed and accumulated through investments in specific processes of human life, except for special (branch) criteria, macro financial indicators became the assessment tools. Their analysis made it possible to determine actual disparity of human capital existing in Ukraine to the level that would transform this economic phenomenon to the driving force of the state progress and provide sustainable and dynamic development of the economy. Study of the main trends and characteristics of macroeconomic factors impact on human capital formation revealed a number of problems and contradictions of its development, manifested in forms of sustainable socio economic losses.

Taking into account the priority role of the state in the accumulation and preservation of national human capital, it is stressed the need to form the state social responsibility, capable of preserving the unique resource, which is the human capital, and to prevent irreversible processes of its destruction and losses.

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