GRZEGORZ W. K O L O D K O,
Director of the Center of Transformation,
Integration, Globalization, and Economic Research
“TIGER” at Kozminski University
© Grzegorz Vitold Kolodko, 2017;
ECONOMICS AND POLITICS OF CONVERSION OF ZLOTY FOR EURO
Of the 11 post-socialist states that have already become European Union members only five have joined the Eurozone common currency. The other six, including Poland, the region’s largest economy, have, pursuant to accession treaties, the right and obligation to adopt euro as their currency. For the time being, they fail to exercise their right and meet their obligation, which has both causes and consequences. These are economic and political in nature and that is why there is no certainty about how the situation will evolve in future. However, from both of those perspectives, and especially for economic reasons, Eastern European EU members should join the Eurozone, as the resulting benefits, not only for Poland, significantly outweigh the conversion costs. Thus, new countries, especially Poland, adopting euro would have a positive impact on the European integration process, which is experiencing a serious structural, institutional and political crisis.
Keywords: integration, currency convergence, European Union, Eurozone, Poland, economic policy, competitiveness (ðð. 3–13).
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2. Brown B. Euro Crash: The Exit Route from Monetary Failure in Europe. Houndmills, Basingstoke, Hampshire, Palgrave-Macmillan, 2012.
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15. Stańczuk M. Przyjęcie euro jest w interesie Polski. Rzeczpospolita, 2017, 11 stycznia, available at: http://www.rp.pl/Publicystyka/301119900-Przyjecie-euro-jest-w-interesie-Polski.html#ap-3 [in Polish].
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17. Ekonomia Przyszłości. Wokół Nowego Pragmatyzmu Grzegorza W. Kołodko. Bałtowski M. (Ed.). Warszawa, Wydawnictwo Naukowe PWN, 2016 [in Polish].
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20. Galbraith J.K. Witamy w Zatrutym Kielichu. Grecki Kryzys a Przyszłość Europy. Warszawa, Wydawnictwo Naukowe PWN, 2016 [in Polish].
21. Kolodko Grzegorz W. How to Destroy a Country. The Economics and the Politics of the Greek Crisis. Rivista di Politica Economica, 2016, IV–VI (aprile/giugno).
V. M. T A R A S E V Y C H,
Professor, Doctor of Econ. Sci.,
Head of the Chair of Political Economy
National Metallurgical Academy of Ukraine
© Tarasevych Viktor Mykolaiovych, 2017;
A QUARTER OF A CENTURY OF UKRAINE'S INDEPENDENCE: ACTUAL CONTEXTS AND IMPERATIVES OF SOCIO-ECONOMIC REFORMS
Ethnonational, civilizational, global and political economy aspects of evolution and the current state of Ukrainian society, using theories of ethnogenesis, civilizations, the world-system of globalism and economic interests, are considered. Some of the basics and peculiarities of Ukrainian identity are highlighted, namely: ethnic diversity of the Ukrainian nation, ambivalence of the Ukrainian ethnos, consisting of sub-ethnoses – Western Ukrainian and Eastern Ukrainian, its movement towards the West European superethnos, the belonging to the Western Orthodox subcivilization of the Orthodox-Eurasian civilization as well as to the semi-periphery of the world-system of globalism.
Given the large-scale social and economic crisis as well as geopolitical and geo-economic shifts, it is substantiated the necessity to develop and implement the Strategy for the national accord, consolidation and development, the core of which is the idea of Ukrainocentrism and nationally oriented progress. The imperatives of the social and economic block of this strategy are indicated, including: reforming the national institutional system per se in the direction of its adequacy to a real protoinstitutional system, dismantling of the dominant oligarchic-capitalist system and formation of a system of democratic and socially oriented state and people's capitalism, carrying out the endogenous neoindustrialization, outrunning development of the national human capital, adjustment of the policy of European integration, national orientation of the triune (state, civil and market) economic regulation.
Improving the quality of this strategy involves addressing other scientific theories, especially national ones, since only reliance on the methodology of inter-, multi- and transtheorethicity and disciplinarity guarantees a spherical scientific vision of Ukrainian society and identification of adequate goals, directions and mechanisms for its development (p. 14–28).
Keywords: ethnos, superethnos, nation, civilization, world-system, globalism, economic interests, institutes per se, proto-institutes, developed center, semi-periphery, periphery, state capitalism, national accord and consolidation, development strategy.
29. Bilorus O.G. Ekonomicheskaya Sistema Globalizma [Economic System of Globalism]. Kyiv, KNEU, 2003 [in Russian].
30. Vlasov V.I. Akademik Bilorus O.G. – osnovatel’ i lider Ukrainskoi nauchnoi shkoly globalistiki [Academician Bilorus O.G. – founder and leader of Ukrainian scientific school of global studies]. Voprosy politicheskoi ekonomii – Questions of political economy, 2014, No. 4, pp. 221–238 [in Russian].
31. Wallerstain I. Konets Znakomogo Mira: Sotsiologiya XXI Veka [The End of the World as We Know It: Social Science for the Twenty First Century]. Moscow, Logos, 2004 [in Russian].
32. Wallerstain I. The Modern World-System II: Mercantilism and the Consolidation of the European World-Economy, 1600–1750. NY, Academic Press, 1980.
33. Heyets V.M., Shynkaruk L.V., Art’omova T.I. et al. Strukturni Zminy ta Ekonomichnyi Rozvytok Ukrainy [Structural Changes and Economic Development of Ukraine]. L.V. Shynkaruk (Ed.). Kyiv, Institute for Economics and Forecasting of the NAS of Ukraine, 2011 [in Ukrainian].
34. Solomon K. Kul’turnaya ekspansiya i ekonomicheskaya globalizatsiya [Cultural expansion and economic globalization]. Mirovaya ekonomika i mezhdunarodnye otnosheniya – World Economy and International Relations, 2000, No. 1, pp. 105–115 [in Russian].
35. Inozemtsev V. Vesternizatsiya kak globalizatsiya i “globalizatsiya” kak amerikanizatsiya [Westernization as globalization and “globalization” as Americanization]. Voprosy filosofii – Questions of philosophy, 2004, No. 4, pp. 58–69 [in Russian].
36. World Economic Outlook. Washington, IMF, 2016, April.
37. Tarasevich V.N. Gosudarstvennyi Kapitalizm: Renessans versus Zabvenie [State Capitalism: Renaissance versus Oblivion]. Dnepropetrovsk, ChMP “Ekonomika”, 2016 [in Russian].
38. Tarasevych V.N. Pro orientyry i napryamy vykhodu z kryzy [On the reference points and directions of the exit from a crisis]. Ekonomika Ukrainy – Economy of Ukraine, 2013, No. 9, pp. 4–17 [in Ukrainian].
39. Tarasevych V.N. Antykryzovyi potentsial ekonomichnoho patriotyzmu [Anticrisis potential of the economic patriotism]. Ekonomika Ukrainy – Economy of Ukraine, 2015, No. 6, pp. 50–52 [in Ukrainian].
THOUGHTS OF PUBLICIST
P. S. E S H C H E N K O,
Professor, Doctor of Econ. Sci.,
Scientific Consultant of the Department of Economic Sociology,
Institute of Sociology of the NAS of Ukraine
© Eshchenko Petrî Stepanovóch, 2017;
STAGNATION OF UKRAINIAN ECONOMY:
INCOMPLETENESS OF REFORMS OR A WELL THOUGHT-OUT POLICY?
The article gives a description of Ukrainian economy, changes in its structure and social position of population as a result of neoliberal economic policy. It is grounded that the causes of today’s crisis state are not only in the outlined theory, its economic policy, legal infrastructure (laws, instruments of their maintenance, customs), but also in those realities that were characteristic of the structure of the economy of our republic and due to its long-standing inter-republican connections as part of a single national economic complex of the USSR. If Ukraine continues to use a neoliberal theory with an adequate policy, then the country will not only remain the periphery of the raw material type with a narrow internal market and a strong dependence on exports for the capitalist economy, but also turn into a “black hole” of chaos concentration.
The author shows that Ukraine is entering the market system of coordinates by trial and error, as well as by conducting the questionable experiments for many years. The author substantiates the conclusion that GDP growth is directly dependent on the rate of investment in fixed assets, which is at an extremely low level in our country. For sustainable economic development, it is necessary to increase investments to 20-25% of GDP. To do this, Ukraine needs to create a favorable investment climate for both a foreign investor and an internal one. It is necessary to abandon the blind copying of the experience of other countries, including that in the sphere of building a market. Given the mentality of our people, its history and traditions, it is expedient to form the market on the basis of various non-exploitative forms of ownership: collective labor form, individual one and state one.
In author's opinion, it is possible to overcome social and economic crisis in Ukraine provided that economy, politics and ideology are targeted at a person with rational needs and high moral and ethical standards. The main directions of activity of the state, which can change the present situation and overcome the further deepening of the crisis, are determined.
Keywords: economic crisis, economic policy, radical reform, oligarchic-plutocratic model of economy, investment in fixed assets, new type of economy, conditions for getting out of crisis (ðð. 29–46).
1. Rol’ Derzhavy u Dovhostrokovomu Ekonomichnomu Zrostanni [The Role of the State in Long-term Economic Growth]. B.E. Kvasnyuk (Ed.). Kyiv, IEF of the NAS of Ukraine, Kharkiv, Fort, 2003 [in Ukrainian].
2. Verstyuk I., Korba G. ZAO Ukraina i ego sobstvenniki. Pervoe masshtabnoe issledovanie otechestvennoi oligarkhii [CJSC Ukraine and its owners. The first large-scale study of the domestic oligarchy]. 20 march 2017, available at: http://nv.ua/publications/zao-ukraina-i-ego-sobstvenniki-pervoe-masshtabnoe-issledovanie-otechestvennoj-oligarhii-835585.html [in Russian].
3. Marchuk E. Osnovni Napryamy Diyal’nosti Uryadu v Umovakh Rynkovoi transformatsii Ekonomiky Ukrainy. Ekonomika Ukrainy ta Shlyakhy ii Podal’shoho Reformuvannya. Materialy Vseukrains’koi Narady Ekonomistiv. 14–15 veresnya 1995 r. [Main Directions of Activity of the Government in the Conditions of Market Transformation of the Economy of Ukraine. Ukraine's Economy and Ways of its Further Reformation. Materials of All-Ukrainian Meeting of Economists. September 14–15, 1995 ]. Kyiv, Geneza, 1996 [in Ukrainian].
4. Molchanov A.M. Vozmozhnaya rol’ kolebatel’nykh protsessov v evolyutsii, v: Kolebatel’nye Protsessy v Biologicheskikh i Khimicheskikh Sistemakh [Possible role of oscillatory processes in evolution, in: Oscillatory Processes in Biological and Chemical Systems]. Moscow, Nauka, 1967, ð. 287 [in Russian].
5. Klinov V. Volnovaya priroda nauchno-tekhnicheskogo progressa i bol’shie tsikly kon’yunktury mirovogo khozya³stva [The wave nature of scientific and technological progress and large cycles of conjuncture of the world economy]. Obshchestvo i ekonomika – Society and Economy, 2002, No. 6, pp. 16–17 [in Russian].
6. Panchenko A. Karta nashei korruptsii: kuda ischezayut ukrainskie milliardy [Map of our corruption: where Ukrainian billions disappear]. Segodnya – Today, available at: http://www.segodnya.ua/economics/enews/karta-nashey-korrupcii-kuda-ischezayut-ukrainskie-milliardy-1014575.html [in Russian].
FINANCES. TAXES. CREDIT
I. M. H R Y N I U K,
Postgraduate of the Department of Accounting and Audit,
Ivano-Frankivs’k National Technical University of Oil and Gas,
© Hryniuk Iryna Mykolaivna, 2017;
STRATEGIES FOR MANAGING THE WORKING CAPITAL
AND SOURCES OF ITS FINANCING
(on the example of oil and gas enterprises of Ukraine)
Problem of managing the working capital and sources of its financing in the current economic situation is very acute as an increasing number of enterprises face insolvency problems due to hryvnia depreciation, high interest rates, tax burden and illegal actions by neighboring countries on the territory of Ukraine. The exception was not the enterprises of oil and gas industry, which is proved by the announcement of PJSC “Ukrnafta” reorganization and the inability of PJSC “SJSC” Chornomornaftogaz” to operate due to illegal occupation of Crimea by the Russian Federation. The main approaches to determine the strategies for managing and financing the working capital on the basis of the works of leading Ukrainian scientists are described. Based on the strategies considered, the matrix of combination of strategies for managing and financing the working capital is formed and consequences of a combination of these strategies for an enterprise are identified. An analysis of the main performance indicators of PJSCs – “Ukrnafta”, “Ukrtransnafta”, “SJSC” Chornomornaftogaz” and “Transnational Finance and Production Oil Company “Ukrtatnafta” – was carried out and the types of strategies of management and working capital financing, which these enterprises use, were determined.
Keywords: working capital, working capital management strategies, working capital financing strategies (pp. 47–59).
1. Hryniuk I.M. Metodychni pidkhody do vyznachennya sutnosti oborotnoho kapitalu [Methodical approaches to determination of the nature of working capital]. Proceedings from “Aktual’ni problemy upravlinnya sotsial’no-ekonomichnymy systemamy” – II Vseukrains’ka naukovo-praktychna internet-konferentsiya z mizhnarodnoyu uchastyu, 8 grudnya 2016 roku [“Actual problems of socio-economic systems management” – II all-Ukrainian scientific and practical internet conference with international participation, 8 December 2016]. Lutsk, RVV LNTU, 2016 [in Ukrainian].
2. Blank I.A. Finansovyi Menedzhment [Financial Management]. Kyiv, Elga, Nika-tsentr, 2004 [in Russian].
3. Stoyanova E.S. Upravlenie Oborotnym Kapitalom [Working capital management]. Moscow, PH “Perspektiva”, 1998 [in Russian].
4. Kramarenko G.O. Finansovyi Menedzhment [Financial Management]. Kyiv, Center for Educational Literature, 2009 [in Ukrainian].
5. Sadekov A.A. Upravlinnya Oborotnymy Koshtamy Torhovel’nykh Pidpryemstv v Suchasnykh Umovakh [Management of Working Capital of Trading Enterprises in Modern Conditions]. Donetsk, Eastern publishing house, 2013 [in Ukrainian].
6. Roganova G.O. Stratehiya finansuvannya oborotnykh aktyviv: pozytsiya personalistiv [Current assets financing strategy: position of personalists]. Ekonomichnyi chasopys XXI – Economic Annals-XXI Journal, No. 3-4 (1), 2013, pp. 82–85 [in Ukrainian].
7. Van Horne J.C. Osnovy Finansovogo Menedzhmenta [Fundamentals of Financial Management]. Moscow, “PH Vil’yams”, 2008 [in Russian].
8. Kovalev V.V. Finansovyi Menedzhment: Teoriya i Praktika [Financial Management: Theory and Practice]. Moscow, TK Velbi, Prospekt, 2007 [in Russian].
9. Mizyuk B.M. Stratehichne Upravlinnya [Strategic Management]. Lviv, “Magnoliya 2006”, 2006 [in Ukrainian].
10. Redchenko K.I. Audyt Stratehichnykh Upravlins’kykh Rishen’, Prohnoziv ta Proektiv [Audit of Strategic Management Decisions, Forecasts and Projects ]. Lviv, PH LKA, 2001 [in Ukrainian].
11. Partyn G.O., Yasins’ka A.I. Systemno-Orientovane Upravlinnya Vytratamy Promyslovoho Pidpryemstva [System-Oriented Cost Management of an Industrial Enterprise]. Lviv, ZUKTs, PPNVF “Biapr”, 2011 [in Ukrainian].
12. Kuz’min O.E., Mel’nyk O.G. Menedzhment. Seriya “Dystantsiine navchannya”, ¹ 2 [Management. Series “Distance Learning”, No. 2]. Lviv, PH of Lviv Polytechnic National University, 2002 [in Ukrainian].
13. Glushkov V., Dobrov G., Tereshchenko V. Besidy pro Upravlinnya [Conversations about Management]. Kyiv, Politvydav Ukrainy, 1973 [in Ukrainian].
14. Blank I.A. Upravlenie Aktivami [Asset Management]. Kyiv, Nika-Tsentr, 2000 [in Russian].
15. Parkhomenko O.P. Systema upravlinnya oborotnym kapitalom promyslovykh pidpryemstv [Working capital management system of industrial enterprises]. Torhivlya i rynok Ukrayiny: zb. nauk. prats’ – Trade and Market of Ukraine: thematic collection of scientific works, Is. 28, Vol. 2, 2009 [in Ukrainian].
16. Szymański P. Zarządzanie majątkiem obrotowym w procesie kreowania wartości przedsiębiorstwa : Praca doktorska. Łódź, Wydawnictwo Petros, 2007 [in Polish].
SOCIAL PROBLEMS IN MANAGEMENT PRACTICE
A. Z. P I D G O R N Y I,
Professor, Cand. of Econ. Sci., Head of the Chair of Statistics,
© Pidgornii Anatolii Zakharovych, 2017;
T. S. K O R O L’ O V A,
Cand. of Econ. Sci.,
Senior Researcher of the Research Division
© Korolova Tetiana Serhiivna, 2017;
Odesa National Economic University
TO THE QUESTION OF OPTIMIZATION OF THE NETWORK OF HIGHER EDUCATION INSTITUTIONS IN UKRAINE
At the current stage of development of higher education in Ukraine, the issues of optimizing the network of higher education institutions (HEIs) are becoming particularly topical. In view of this, it is necessary to determine the directions and ways of reforming the network of HEIs, which should ensure the competitiveness of the national higher school in European educational space.
Based on a thorough analysis of the trends in formation of a modern network of universities, dynamics of the number of HEIs and the number of students, factors, influencing the network of HEIs, were scientifically justified. Changes in the territorial placement, structure of HEIs, branch orientation of training the specialists, average size of students per institution and the number of students per 10,000 of population were determined. Characteristics of the processes of opening new universities and isolated branches of universities are presented; impact of these measures on access to higher education and the quality of training the specialists are estimated.
Based on the authors' forecast calculations of the number of university entrants in Ukraine up to 2024 and competition in HEIs, a necessity of substantial reduction of HEIs is determined. Directions and stages of optimization of the existing network of HEIs are proposed. Particular emphasis is placed on the fact that reform of the network of HEIs should be carried out taking into account many factors of economic, social and psychological nature and possible both positive results and negative consequences.
An optimization of the network of HEIs should be understood not as a mechanical reduction in the number of higher educational institutions, but as an improvement in their branch and territorial structure and creation of modern innovative universities of European level. Strategic task of optimization is to get (as a result of reorganization) HEIs, which would have different levels of training (from bachelor to doctor of science), carry out current scientific research, actively cooperate with academic research institutions and include research institutes in their structures.
Keywords: system of higher education, network of higher education institutions, structure of higher education institutions, forecast calculations, scientific and pedagogical potential, entrants, reform of higher education (ðð. 60–72).
1. Vakhovych I.M., Volynchuk Yu.V. Doslidzhennya teoretychnykh aspektiv dotsil’nosti protsesu ukrupnennya VNZ v Ukraini [Studying theoretical aspects of expedience of universities enlargement process in Ukraine]. Aktual’ni problemy ekonomiky – Actual problems of economics, 2010, No. 2 (104), pp. 101–107 [in Ukrainian].
2. Efremov V. Optymizatsiya VNZ v Ukraini yak neobkhidna umova pidvyshchennya ikh konkurentospromozhnosti [Optimization of higher education institutions in Ukraine as a prerequisite for increasing their competitiveness]. Vyshcha shkola – Higher school, 2014, No. 3–4, pp. 73–83 [in Ukrainian].
3. Zveryakov M.I. Teoreticheskie problemy formirovaniya natsional’noi ekonomicheskoi sistemy [Theoretical problems of the national economic system formation]. Odessa, Astroprint, 2012 [in Russian].
4. Kremen’ V.G. Ukrupnennya VNZ pidvyshchyt’ yakist’ osvity. Osvitnii portal (27.02.2009) [Enlargement of higher education institutions will increase the quality of education. Educational portal (27.02.2009)], available at: http://www.osvita.org.ua/news/42580.html [in Ukrainian].
5. Lytvyn V.M., Andrushchenko V.P. et al. Naukovo-osvitnii Potentsial Natsii: Poglyad u XXI Stolittya, v Kn. 3: Modernizatsiya Osvity [Scientific and Educational Potential of the Nation: A View in the 21st Century, in Book 3: Modernization of Education ]. Kyiv, Navch. Knyga, 2003 [in Ukrainian].
6. Korol’ova T.S. Intehratsiya vyshchoi osvity Ukrainy do Evropeis’koho osvityans’koho prostoru v umovakh globalizatsii [Integration of higher education of Ukraine into European educational space under conditions of globalization]. Proceedings from Natsional’na ekonomika u suchasnii global’nii ekonomichnii systemi: mekhanizmy funktsionuvannya, dynamika, ekonomichna bezpeka. Mizhnar. nauk.-prakt. konf. (Poltava, 23–24 kvitnya 2010 r.) [National economy in modern global economic system: mechanisms of functioning, dynamics, economic security. International Sci. and Pract. Conf. (Poltava, April 23-24, 2010)]. Poltava, PUSKU, 2010, pp. 28–34 [in Ukrainian].
7. Korol’ova T.S. Osoblyvosti innovatsiinykh protsesiv u sferi vyshchoi osvity [Features of innovative processes in the field of higher education]. Naukovyi visnyk Bukovyns’koi derzhavnoi finansovoi akademii. Seriya: Ekonomichni nauky – Scientific Bulletin of the Bukovina State Academy of Finance. Series: Economic Sciences, 2009, Issue 2 (15), pp. 78–84 [in Ukrainian].
8. Podgornii A. Demographic assumptions and Implications of pension reform in Ukraine, in: Quantitative Methods for the Analysis of the Economic and Social Consequences of Transition Processes in Central-East European Countries. Krakow, 2013, pp. 223–231.
9. Pidgornyi A.Z., Korol’ova T.S. Problemy formuvannya kontynhentu abiturientiv VNZ v umovakh sotsial’no-demohrafichnoi kryzy [Problems of formation of the contingent of university entrants under conditions of socio-demographic crisis]. Proceedings from Upravlinnya pidpryemstvom: problemy ta shlyakhy ikh vyrishennya. IV mizhnar. nauk.-prakt. konf. (Sevastopol’, 1–3 zhovtnya 2009 r.) [Enterprise Management: Problems and Solutions. IV International Sci. and Pract. Conf. (Sevastopol, October 1–3, 2009)]. Donetsk, DonNUET, 2009, pp. 153–156 [in Ukrainian].
10. Pidgornyi A.Z. Demohrafichna skladova suchasnoho sotsial’no-ekonomichnoho rozvytku Ukrainy [Demographic component of modern socio-economic development of Ukraine]. Proceedings from Naukovi problemy hospodaryuvannya na makro-, mezo- ta mikroekonomichnomu rivnyakh. Mizhnar. nauk.-prakt. konf. (Odesa, 24–25 kvitnya 2014 r.) [Scientific problems of management at the macro-, meso- and microeconomic levels. International Sci. and Pract. Conf. (Odesa, April 24–25, 2014)]. Odesa, 2014, pp. 4–7 [in Ukrainian].
11. Grynevych L.M. Audyt ukrayins’koi nauky [Audit of Ukrainian science]. Osvita Ukrainy – Education of Ukraine, 2017, No. 1, pp. 8–9 [in Ukrainian].
12. Stepko M. Svitovi tendentsii rozvytku vyshchoi osvity ta problemy zabezpechennya yakosti i efektyvnosti vyshchoi osvity v Ukraini [World trends in the development of higher education and problems of ensuring the quality and efficiency of higher education in Ukraine]. Vyshcha shkola – Higher school, 2013, No. 7, pp. 13–22 [in Ukrainian].
FROM THE HISTORY OF ECONOMIC IDEAS
UDC 330.8 (477)
V. V. N E B R A T,
Doctor of Econ. Sci.,
Head of Department of Economic History,
Institute for Economics and Forecasting of the NAS of Ukraine
© Nebrat Viktoriya Vasylivna, 2017;
FORMATION OF NATIONAL ENTREPRENEURSHIP AND FOREIGN TRADE RELATIONS OF UKRAINE
The process of establishment of entrepreneurship on Ukrainian territory during the XVI-XVII centuries has been analyzed. Historical conditions for the development of market relations and primary accumulation of capital have been comprehensively researched. Institutional mechanisms for the formation of the basic elements of the entrepreneurial environment – private property, economic freedom, labor market and competition – are characterized. Role of foreign trade relations in the development of the economy on Ukrainian lands is determined. Directions and structure of trade are presented. Counteraction of internal mechanisms and external factors of transformation of Ukrainian economy is shown.
Preservation and strengthening of feudal forms of dependence hampered the development of market institutions. Industrial production used wage labor. There were dependent peasants that worked in estates. Export structure was mainly agrarian and raw materials type. Concentration of property hindered development of market and competition.
Economic and political conditions for the formation of entrepreneurial environment developed in the middle of the XVII century. Elimination of landowning of Polish tycoons and abolition of serfdom opened up opportunities for development of the national market. The policy of Ukrainian Cossack state (which professed mercantilism) contributed to the development of industrial production and foreign trade. Farms were formed on southern and eastern lands. Mastering of new lands and establishment of settlements promoted development of agrarian entrepreneurship. New conditions for production and export of Ukrainian goods on the basis of private entrepreneurship formed at the end of the XVII century.
Keywords: entrepreneurship, history of economic development, foreign trade relations, organizational forms of management, institutional mechanisms (pp. 73–85).
1. Smolii V., Stepankov V. Ukrains’ka Natsional’na Revolyutsiya XVII st. (1648–1676 rr.) [Ukrainian National Revolution of the XVII Century (1648-1676)]. Kyiv, PH “Kyiv-Mohyla Academy”, 2009 [in Ukrainian].
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CRITIQUE AND BIBLIOGRAPHY
V. L. A N D R U S H C H E N K O,
Professor, Doctor of Econ. Sci.,
Head of the Tax Policy Department of
The University of the State Fiscal Service of Ukraine
©Andrushchenko Volodymyr Leonidovych, 2017;
FINANCIAL INFRASTRUCTURE -BASIS OF CIVILIZATIONAL DEVELOPMENT OF UKRAINE
1. Finansova Infrastruktura Ukrainy: Stan, Problemy ta Perspektyvy Rozvytku [Financial Infrastructure of Ukraine: State, Problems and Prospects of Development]. V. Oparin, V. Fedosov (Eds.). Kyiv, KNEU, 2016 [in Ukrainian].
2. L’ovochkin S., Oparin V., Fedosov V. Finansova infrastruktura rynkovoi ekonomiky: kontseptual’ni pidkhody [Financial infrastructure of a market economy: conceptual approaches]. Ekonomika Ukrainy – Economy of Ukraine, 2008, No. 11, pp. 57–71 [in Ukrainian].
40. Tarasevych V.N. Pro derzhavno-kapitalistychnu obumovlenist’ innovatsiinoho rozvytku natsional’noi ekonomiky [About the state-capitalistic conditionality of the innovative development of a national economy]. Ekonomika Ukrainy – Economy of Ukraine, 2015, No. 11, pp. 16–31; No. 12, pp. 10–25 [in Ukrainian].
TO THE 80-th BIRTHDAY OF ACADEMICIAN OF THE NAS OF UKRAINE
O. I. AMOSHA
Outstanding scientist, leader, innovator
TO THE 80-th ANNIVERSARY OF THE BIRTH OF ACADEMICIAN OF
THE NAAS OF UKRAINE V.M. TREGOB
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