No. 11, 2017

Êiëüêiñòü ïåðåãëÿäiâ: 15
UDC 330.341.424:339.9
M. I. Z V E R Y A K O V,
Professor, Doctor of Econ. Sci.,
Corresponding Member of the NAS of Ukraine,
Odesa National Economic University
© Zveryakov Mókhailî Ivanovóch, 2017; 

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.
Keywords: globalization, deindustrialization and reindustrialization, various models of capitalism, industrial policy, depreciation, strategic goal-setting, a model of sustainable economic growth (ðð. 3–16).
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2. Faux J. Torhovel’na polityka SShA – chas pochaty spochatku [U.S. trade policy – time to start over]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 5-6, pp. 16–30 [in Ukrainian].
3. Brenner R. Ekonomika Global’noi Turbulentnosti: Razvitye Kapitalisticheskie Ekonomiki v Period ot Dolgogo Buma do Dolgogo Spada 1945–2005 [The Economics of Global Turbulence. The Advanced Capitalist Economies from Long Boom to Long Downturn, 1945–2005]. Moscow, PH of High School of Economics, 2014 [in Russian].
4. Sidenko V.R. Nova torhovel’na polityka SShA: global’nyi antrakt [New US trade policy: global intermission]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 5-6, pp. 58–66 [in Ukrainian].
5. Potential Beneficiaries of a US Manufacturing Renaissance, available at:
6. Krasil’shchikov V. Deindustrializatsiya, reindustrializatsiya i razvitie [Deindustrialisation, reindustrialisation and development]. Mirovaya ekonomika I mezhdunarodnye otnosheniya – World Economy and International Relations, 2016, No. 8, pp. 34–43 [in Russian].
7. Game Changers: Five Opportunities for US Growth and Renewal. McKinsey Global Institute, 2013.
8. Sirkin H.L., Zinser M., Hohner D. Made in America, Again. Why Manufacturing Will Return to the USA. The Boston Consulting Group, August 2011, available at: . 
9. Stiglitz J. The Price of Inequality: How Today’s Divided Society Endangers Our Future. NY, W.W. Norton & Company, 2012.
10. Porokhovskii A. Strukturnye izmeneniya amerikanskoi ekonomiki posle krizisa 2007–2009 godov [Structural changes in the US economy after the 2007–2009 crisis]. SShA – Kanada : Ekonomika, Politika, Kul’tura – USA – Canada: Economy, Politics, Culture, 2015, No. 3, pp. 3–18 [in Russian].
11. Glinkina S.P. K Voprosu o Raznoobrazii Modelei Kapitalizma, ili Chto My Postroili v Rezul’tate Transformatsii: nauch. doklad [To the Question of the Variety of Models of Capitalism, or What We Built as a Result of the Transformation: scientific report]. Moscow, IE of the RAS, 2016 [in Russian].
12. Nölke A., Vliegenthàrt A. Enlarging the varieties of capitalism. The emergence of dependent market economies in East Central Europe. World Politics, 2009. Vol. 6 (4). pp. 670–702.
13. Glinkina S.P., Kulikova N.V., Sinitsyna I.S. Strany Tsentral’no-Vostochnoi Evropy: Evrointegratsiya i Ekonomicheskii Rost: nauch. doklad [Countries of Central and Eastern Europe: European Integration and Economic Growth: scientific report]. Moscow, IE of the RAS, 2014 [in Russian].
UDC 338.24.021.8
S. O.  K O R A B L I N,
Doctor of Econ. Sci.,
Deputy Director,
Institute for Economics and Forecasting of the NAS of Ukraine
© Korablin Sergii Oleksandrovóch, 2017; 

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”.
Keywords: the Washington consensus; “first generation reforms”; “second generation reforms”; small commodity economy; commodity conjuncture; technological development, modernization of the economy (ðð. 17–32).
1. Soros G. Krizis Mirovogo Kapitalizma: Otkrytoe Obshchestvo v Opasnosti [The Crisis of Global Capitalism: Open Society Endangered], available at: [in Russian].
2. Williamson J. A short history of the Washington consensus. Paper commissioned by Fundacion CIDOB for a conference “From the Washington ñonsensus towards a new global governance”, Barcelona, September 24–25, 2004. Washington, D.C., Institute for International Economics, available at:
3. Williamson J. What Washington Means by Policy Reform. Chapter 2 in Latin American Adjustment: How Much Has Happened? J. Williamson (Åd.). Washington, D.C., Institute for International Economics, 1990, available at:
4. Williamson J. The Washington consensus as policy prescription for development. A lecture in the series “Practitioners of Development” delivered at the World Bank on January 13, 2004. Washington, D.C., Institute for International Economics, available at:
5. Stiglitz J.E. The post Washingon consensus consensus. The initiative for policy dialogue, available at:
6. Navia P., Velasco A. The Politics of Second-Generation Reforms. Chapter 10 in After the Washington Consensus. Washington, D.C., Institute for International Economics, 2003, pp. 265–363, available at:
7. Stiglitz J. Globalization and Its Discontents. London, Penguin Books, 2002, ð. 53. 
8. Rodrik D. Goodbye Washington consensus, hello Washington confusion? A review of the World Bank’s Economic Growth in the 1990s: Learning from a decade of reform. Journal of Economic Literature, 2006 December, Vol. XLIV, pp. 973–987, available at:
9. Marangos J. The evolution of the anti-Washington consensus debate: from ‘post-Washington consensus’ to ‘after the Washington consensus’. Competition & Change, 2008, Vol. 12, No. 3, September, pp. 227–244, available at:
10. Williamson J. What should the Bank think about the Washington consensus. Background paper to the World Bank’s World Development Report 2000, July 1999, available at:
UDC [336.742:665.72]:303.4
H U A N G   X I A O Y O N G,
President of the High School of the Chinese Academy of Social Sciences,
Professor and Doctoral Supervisor,
Director of the Center for International Energy Security Studies, CASS
©Huang Xiaoyong, 2017;

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.
Keywords: gasyuan, petrodollar, internationalization of renminbi, energy transformation (ðð. 33–47). 
1. Zhao Ke. The rise of Deutsche mark – an analysis of internationalization of currencies from a politico-economic perspective. PhD thesis. Graduate School of Chinese Academy of Social Sciences, 2013.
2. Wang Hong. The rise of petrodollar and its influences on the international monetary market. Master's thesis. Jilin University, 2013.
3. Tong Xiaoguang, Zheng Jiong, Fang Bo. A strategic analysis on establishing a natural gas trading hub in China. Natural Gas Industry, 2014, No 9, pp. 1–10 [in Chinese].
4. Hu Aolin, Qin Yuan, Chen Xuefeng. On spot transaction in natural gas market in China. Natural Gas Industry, 2011, No 10, pp. 101–104 [in Chinese].
5. Hu Aolin. A discussion on building a natural gas trading center in China. Natural Gas Industry, 2014, No 9, pp. 11–16 [in Chinese].
6. Jia Chengzao, Zhang Yongfeng, Zhao Xia. Prospects of and challenges to natural gas industry development in China. Natural Gas Industry, 2014, No 9, pp. 1–11 [in Chinese].
7. Duan Zhao-fang. Historical retrospect and prospect of world natural gas, China Mining Magazine, 2008, No 11, available at: [in Chinese].
8. Jiang Chunlin and Liu Dingjia. An important step toward marketization of gas prices. Economic Information Daily, 2015, January 12 [in Chinese].
9. Liu Xianyun. What does Russia's Eastward focus of its oil and gas exports bring? People’s Daily, 2016, November 10, available at: [in Chinese].
UDC 338.2:330.111.4
Yu. V.  K I N D Z E R S ’ K Y I,
Doctor of Econ. Sci.,
Leading Researcher,
Institute for Economics and Forecasting of the NAS of Ukraine
© Kindzers’kyi Yurii Viktorovych, 2017; 

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 used5 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.
Keywords: deindustrialization, “industrial renaissance”, social regress, proprietary rights, public administration, debt consumption, impoverishing development, external dependence (ðð. 48–72).
1. Raizberg B., Lozovskii L., Starodubtseva E. Sovremennyi Ekonomicheskii Slovar’; [6-e izd., pererab. i dop.] [Modern Economic Dictionary, 6th ed., revised and augmented]. Moscow, INFRA-M, 2011 [in Russian].
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4. Scott R.E. Growth in U.S. – China trade deficit between 2001 and 2015 cost 3.4 million jobs. Here’s how to rebalance trade and rebuild American manufacturing. Economic Policy Institute, Washington, D.C., 2017, January 31, available at:
5. McMillan M., Rodrik D. Globalization, Structural Change and Productivity Growth. NBER Working Paper No. 17143, 2011, available at: .
6. Lichtblau K., Matthes J., Fritsch M. et al. Industry as a Growth Engine in the Global Economy. Institut der deutschen Wirtschaft Köln, Cologne, IW Consult GmbH, IW Köln, 2013. 
7. Vishnevskii V.P., Amosha A.I., Zbarazskaya L.A. et al. Promyshlennaya Politika i Upravlenie Razvitiem Promyshlennosti v Usloviyakh Sistemnykh Disbalansov: Kontseptual’nye Osnovy [Industrial Policy and Management of Industrial Development in the Context of Systemic Imbalances: the Conceptual Framework]. V.P. Vishnevskii, L.A. Zbarazskaya (Eds.). Donetsk, Institute of Industrial Economics of the NAS of Ukraine, 2013 [in Russian].
8. Rotman D. How technology is destroying jobs. MIT Technology Review, 2013, June 12, available at:
9. Hitchcock À., Laycock K., Sundorph E. Work in Progress. Towards a Leaner, Smarter Public-sector Workforce. London, Reform, 2017, available at: .
10. Metz C. The AI threat isn't skynet. It's the end of the middle class. Wired, 2017, February 10, available at: .
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12. Baranovskyy O., Sidenko V. Problemy vlasnosti ta lehalizatsii kapitaliv i dokhodiv v Ukraini [The problems of ownership and legalization of capitals and incomes in Ukraine]. Natsional’na bezpeka i oborona – National security & defense, 2004, No. 2, pp. 2–13 [in Ukrainian].
13. Acemoglu D., Robinson J. Pochemu Odni Strany Bogatye, a Drugie Bednye. Proiskhozhdenie Vlasti, Protsvetaniya i Nishchety [Why Nations Fail: The Origins of Power, Prosperity, and Poverty]. Moscow, AST, 2015 [in Russian].
14. Kindzers’kyi Yu.V. Instytutsiina pastka oliharkhizmu i problemy ii podolannya [Institutional trap of oligarchism and problems of its overcoming]. Ekonomika Ukrainy – Economy of Ukraine, 2016, No. 12, pp. 22–46 [in Ukrainian].
15. Kindzers’kyi Yu.V. Destruktyvy promyslovoi polityky v Ukraini ta mozhlyvosti ikh podolannya [Destructive points of the industrial policy in Ukraine and possibilities of overcome them]. Ekonomika Ukrainy – Economy of Ukraine, 2012, No. 12, pp. 4–16 [in Ukrainian].
16. Perkins J. Ispoved’ Ekonomicheskogo Ubiitsy [Confessions of an Economic Hit Man]. Moscow, Pretext, 2005 [in Russian].
17. Werner K., Weiss H. Chernaya Kniga Korporatsii [The Black Book of Corporations]. Ekaterinburg, Ul’tra. Kul’tura, 2007 [in Russian].
18. Korablin S. Model’ vidstayuchoho zrostannya: ekonomichni faktory ta naslidky dlya Ukrainy [The “lagging growth” model: economic factors and consequences for Ukraine]. Ekonomika i prognozuvannya – Economy and forecasting, 2016, No. 2, pp. 74–85 [in Ukrainian].
19. Otsinka Vplyvu Uhody pro Asotsiatsiyu/ZVT mizh Ukrainoyu ta ES na Ekonomiku Ukrainy: nauk. dop. [Assessment of the Impact of the Association/FTA Agreement between Ukraine and the EU on Ukrainian economy: scientific report]. V.M. Heyets, T.O. Ostashko, L.V. Shinkaruk (Eds.). Kyiv, NAS of Ukraine, Institute for Economics and Forecasting of the NAS of Ukraine, 2014 [in Ukrainian].
20. Heyets V.M. Instytutsiina obumovlenist’ innovatsiinykh protsesiv u promyslovomu rozvytku Ukrainy [Institutional conditionality of innovative processes in Ukraine’s industrial development]. Ekonomika Ukrainy – Economy of Ukraine, 2014, No. 12, pp. 4–19 [in Ukrainian].
21. Heyets V.M. Osoblyvosti vzayemozv”yazku ekonomichnykh i politychnykh peredumov rekonstruktyvnoho rozvytku ekonomiky Ukrainy [Peculiarities of the interrelation of economic and political preconditions of a reconstructive development of Ukraine’s economy]. Ekonomika Ukrainy – Economy of Ukraine, 2016, No. 12, pp. 3–21 [in Ukrainian].
22. Bogdan T.P. Zovnishne borhove navantazhennya ta vyklyky dlya valyutno-finansovoi polityky Ukrainy [External debt burden and challenges for the currency-financial policy of Ukraine]. Ekonomika Ukrainy – Economy of Ukraine, 2016, No. 7, pp. 21–32 [in Ukrainian].
23. Zymovets’ V. Deformovana finansova model’ vedennya biznesu v Ukraini: instytutsiinyi aspect [Deformed financial model of doing business in Ukraine: institutional aspect]. Proceedings from: Korporatyvni finansy: problemy ta perspektyvy innovatsi³noho rozvytku. I Vseukr. nauk.-prakt. konf. [Corporate finance: problems and prospects for innovation development. I All-Ukrainian scientific and practical conference]. Kyiv, KNEU, 2016 [in Ukrainian].
24. Ormotsagze M. Ukrainskaya ruletka: grazhdane i biznes poteryali v bankakh-bankrotakh svyshe 300 mlrd griven [Ukrainian roulette: citizens and business lost more than 300 billion hryvnia in bankrupt banks]. Forbs-Ukraina – Forbes-Ukraine, May 27, 2016, available at: [in Russian].
25. Skolotyanyi Yu., Ivchenko R. Povtorne rozgrabuvannya, abo U shcho derzhavi ta platnykam podatkiv obkhodyat’sya bankrutstva bankiv [Repeated looting, or What banks’ bankruptcies cost to the state and taxpayers]. Dzerkalo tyzhnya – Week’s Mirror, 2017, No. 27 [in Ukrainian].
UDC 339.1
V. L.  P L E S K A C H,
Professor, Doctor of Econ. Sci., Head of the Department of Applied Information Systems 
Taras Shevchenko National University of Kyiv
© Pleskach Valentyna Leonidivna, 2017; 
T. G.  Z A T O N A T S ’ K A,
Associate Professor, Doctor of Econ. Sci., Professor of the Department of Economic Cybernetics
Taras Shevchenko National University of Kyiv
© Zatonats’ka Tetyana Georgiivna, 2017; 
L. V.  O L E K S Y U K,
Postgraduate Student, Department of Information Policy and Electronic Governance
National Academy for Public Administration under the President of Ukraine
© Oleksyuk Liliya Vitaliivna, 2017; 

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-V²²² 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.
Keywords: e-commerce, e-trade, state policy in the field of the e-trade consumer rights (pp. 73–84).
1. Bereza A.M., Kozak I.A., Levchenko F.A. et al. Elektronna Komertsiya [E-commerce]. Kyiv, KNEU, 2002 [in Ukrainian].
2. Amor D. Elektronnyi Biznes. Evolyutsiya i/ili Revolyutsiya [The E-Business (R)evolution]. Moscow, Vil’yams, 2001 [in Russian].
3. Lysenko Yu.G., Andrienko V.N., Ivanov N.N. Informatika i Komp’yuternaya Tekhnika. Elektronnaya Kommertsiya. Kn. 5. [Informatics and Computer Technology. E-commerce. Book 5]. Donetsk, Yugo-Vostok, 2004 [in Russian].
4. Mishchenko V.I., Shapovalov A.V., Yurchuk G.V. Elektronnyi Biznes na Rynku Finansovykh Posluh [E-business in the Financial Services Market]. Kyiv, Znannya, 2003 [in Ukrainian].
5. Ponomarenko L.A., Filatov V.O. Elektronna Komertsiya [E-Commerce]. Kyiv, KNTEU, 2002 [in Ukrainian].
6. Yurasov A.V. Osnovy Elektronnoi Kommertsii [The Basics of E-Commerce]. Moscow, Hotline – Telekom, 2008 [in Russian].
7. Karpenko S. Ob”emy rynka elektronnoi kommertsii v Ukraine. Internet-rynok [Volumes of the e-commerce market in Ukraine. Internet market], available at: [in Russian].
8. Kaluzhsky M.L. Prioritety institutsional’nogo regulirovaniya elektronnoi kommertsii: Rossiya i mirovye tendentsii [Priorities of institutional regulation of e-commerce: Russia and world tendencies]. Natsional’nye interesy: prioritety i bezopasnost’ – National Interests: Priorities and Security, 2013, No. 42, pp. 11–22, available at: [in Russian].
UDC 330.332.3:330.14:37:614(477)
N. M. P R Y T U L Y A K,
Associate Professor, Cand. of Econ. Sci.,
Associate Professor of the Department of Corporate Finance and Controlling,
Kyiv National Economic University named after Vadym Hetman
© Prytulyak Natalia Ìókola³vna, 2017; 

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.
Keywords: national human capital, health capital, knowledge capital, science capital, innovative creativity, standard of living, human development (pp. 85–100).
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2. Prytulyak N.M. Identyfikatsiya lyuds’koho kapitalu v suchasnii ekonomichnii nautsi [Identification of the human capital in the modern economic science]. Ekonomika Ukrainy – Economy of Ukraine, 2014, No. 7, pp. 27–38 [in Ukrainian].
3. Myzin A.L., Tatarkin A.I.  Modelirovanie sostoyaniya natsional’nogo bogatstva regionov Rossii [The modelling of national wealth of the Russia’s regions]. Ekonomika regiona – Economy of a region, 2013, No. 4, pp. 53–63 [in Russian]. 
4. Chepelevs’ka L.A., Yashchenko Yu.B., Kondratyuk N.Yu., Semenyuk O.A. Stan demografichnoi sytuatsii v Ukraini: problemy ta shlyakhy ikh vyrishennya [Demographic status in Ukraine: problems and ways of their decision]. Ukraina. Zdorov’ya natsii – Ukraine – Health of the Nation, 2012, No. 3 (23), pp. 251–255 [in Ukrainian].
5. Prava Lyudyny v Ukraini – 2013. Dopovid’ Pravozakhysnykh Orhanizatsii. Ukrains’ka Hel’sins’ka Spilka z Prav Lyudyny [Human Rights in Ukraine – 2013. Report of Human Rights Organizations. Ukrainian Helsinki Human Rights Union]. E.Yu. Zakharov (Ed.). Kharkiv, Human Rights, 2014 [in Ukrainian].
6. Shchorichna Dopovid’ pro Stan Zdorov’ya Naselennya, Sanitarno-Epidemichnu Sytuatsiyu ta Rezul’taty Diyal’nosti Systemy Okhorony Zdorov’ya Ukrainy. 2013. MOZ Ukrainy, DU “Instytut stratehichnykh doslidzhen’ MOZ Ukrainy” [Annual Report on the State of Health of the Population, Sanitary and Epidemiological Situation and Results of Health Care System of Ukraine. 2013. Ministry of Health of Ukraine, SI “Institute for Strategic Studies of the Ministry of Health of Ukraine”]. O.S. Musii (Ed.). Kyiv, 2014 [in Ukrainian].
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8. Lyuds’kyi Rozvytok v Ukraini: Mozhlyvosti ta Napryamy Sotsial’nykh Investytsii. [Human Development in Ukraine: Opportunities and Directions of Social Investments]. E.M. Libanova (Ed.). Kyiv, Institute of Demography and Social Studies of the NAS of Ukraine; State Statistics Committee of Ukraine, 2006 [in Ukrainian].
9. Kas’yanov G. Osvitnya Systema Ukrainy 1990–2014. Blahodiinyi fond “Instytut rozvytku osvity”  [Educational System of Ukraine 1990–2014. Charitable Foundation “Institute for Educational Development”]. Kyiv, TAKSON, 2015 [in Ukrainian].
10. Vahovych I.M., Ishchuk L.I., Pyrih S.A. Stan i problemy vyshchoi osvity v Ukraini [State and problems of higher education in Ukraine]. Aktual’ni problemy ekonomiky – Actual problems of economics, 2014, No. 1 (151), pp. 63–69 [in Ukrainian].
11. Nazarova G.V., Gavkalova N.L., Markova N.S. Formuvannya ta Rozvytok Lyuds’koho Kapitalu Korporatyvnykh Pidpryemstv [Formation and Development of Human Capital of Corporate Enterprises]. Kharkiv, PH of KhNUE, 2006 [in Ukrainian].
12. Bilinets’ M.Yu. Finansuvannya vyshchoi osvity v Ukraini: suchasni tendentsii, problemy ta perspektyvy [Financing higher education in Ukraine: current trends, challenges and prospects]. Global’ni ta natsional’ni problemy ekonomiky – Global and National Problems of Economics, 2015, Iss. 4, pp. 787–790 [in Ukrainian].
13. Shevchenko L.S. Finansuvannya vyshchoi osvity: dyversyfikatsiya dzherel [The financing of the higher education: the diversification of sources]. Teoriya i praktyka pravoznavstva – Theory and practice of jurisprudence, 2013, Iss. 2, available at: [in Ukrainian].
14. Kalenóuk I.S., Kuklin O.V., Yamkovyi V.A. Suchasni ryzyky rozvytku vyshchoi osvity v Ukraini [Modern risks of the development of higher education in Ukraine]. Ekonomika Ukrainy – Economy of Ukraine, 2015, No. 2, pp. 70–83 [in Ukrainian].
To the 75-th birthday of ACADEMICIAN of the NAS of UKRAINE
Talent, inspiration and strategic vision (pp. 101-102)
To the 70-th birthday of PROFESSOR, DOCTOR of ECONOMIC SCIENCES 
Well-known scientist-economist, effective manager, self-manager (pp. 103-104)
SUMMARIES (pp. 105-108)

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