Open AccessTHE IMPACT OF TRANSNATIONALIZATION ON THE GLOBAL CONSUMER MARKET
Author(s) -
Tetiana Kniazieva,
Anna Shevchenko,
Hanna Radchenko,
Olena S. Komova,
Liliia Pankova
Publication year - 2021
Publication title -
baltic journal of economic studies
Language(s) - English
Resource type - Journals
eISSN - 2256-0963
pISSN - 2256-0742
DOI - 10.30525/2256-0742/2021-7-5-268-276
Subject(s) - protectionism , globalization , business , modernization theory , market economy , foreign direct investment , liberalization , production (economics) , economics , investment (military) , international trade , international economics , economic system , economic growth , politics , political science , law , macroeconomics
The study found that globalization has no effect on the content of monopoly capital, which has changed its form because of the existence of the process of transnationalization. The growth of transnational corporations not only increases the interaction with the state in the modern process of globalization. Minimization of negative consequences of transnational corporations in the consumer market, ensuring food security of the country involves the implementation of the strategy of import substitution and reasonable protectionism. This triggers the modernization of foreign economic strategies, improves institutional and organizational and economic efforts of state regulation to ensure protection of the borders of the consumer market. Here targets are defined: growth of own production; increase in investment demand; increase in non-resource exports through exports of high-tech, knowledge-intensive goods and services; intensification of measures within the system of comprehensive export support.