Open AccessTHEORETICAL AND METHODOLOGICAL ASPECTS OF DETERMINING THE INFLUENCE OF GLOBALIZATION PROCESSES ON THE DEVELOPMENT OF THE ECONOMY OF UKRAINE
Author(s) -
Світлана Бестужева,
Viktoria Kozub
Publication year - 2021
Publication title -
naukovij vìsnik užgorodsʹkogo nacìonalʹnogo unìversitetu. serìâ: mìžnarodnì ekonomìčnì vìdnosini ta svìtove gospodarstvo
Language(s) - English
Resource type - Journals
ISSN - 2413-9971
DOI - 10.32782/2413-9971/2021-36-4
Subject(s) - globalization , openness to experience , context (archaeology) , goods and services , interdependence , world economy , economics , foreign direct investment , econometric model , economy , economic system , index (typography) , macroeconomics , market economy , geography , political science , psychology , social psychology , archaeology , world wide web , computer science , law , econometrics
The paper proposes a scientific approach to determining the impact of globalization processes on the development of Ukraine’s economy based on the analysis of the dynamics and modeling of indicators of the degree of integration of Ukraine’s economy into the system of world economic relations. Globalization is seen as a modern trend in the world economy as a system of interconnected and interdependent economic entities, among which a significant place is occupied by countries. The authors determine the degree of Ukraine's integration into the world economic space by its place in the ratings of globalization and economic openness. Analysis of the dynamics of the degree of integration of Ukraine's economy into the global economy is based on GDP, export and import quotas during 2006 – 2020. Based on the results of the analysis, the authors developed an econometric model for assessing the impact of factors on the globalization index of Ukraine, identified the most significant positive factors, namely the volume of exports of goods and services as a percentage of GDP, GDP, the ratio of foreign direct investment to GDP, the share of innovative exports export of goods and services of the country. The import quota and the corporate income tax rate have been identified as negative factors. Based on the results obtained during the modeling, the authors have developed and proposed a sequence of measures to increase the level of openness of Ukraine's economy in the context of its globalization. Perspective forms of globalization in the context of forming a new perspective of the international community on changing the vector of world economy - from globalization to regionalization and nationalization which have materialized in increasing the volume and diversification of the structure of international trade, intensification of international financial transactions, the emergence of transnational business, a sharp increase in foreign direct investment and intensification of international labor migration.