The Determinants of the Export-Oriented Development of Open Economies
The proposed scientific article deals with the topical issue of identifying the determinants of export orientedness in the context of increasing openness of national economies. The article is aimed at researching the determinants of export-oriented development in the conditions of neo-protectionism...
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| Format: | Article |
| Language: | English |
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Research Centre of Industrial Problems of Development of NAS of Ukraine
2019-10-01
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| Series: | Bìznes Inform |
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| Online Access: | https://www.business-inform.net/export_pdf/business-inform-2019-10_0-pages-16_24.pdf |
| Summary: | The proposed scientific article deals with the topical issue of identifying the determinants of export orientedness in the context of increasing openness of national economies. The article is aimed at researching the determinants of export-oriented development in the conditions of neo-protectionism of the 21st century and identifying the level of export orientedness of Ukrainian economy on the basis of a combinatorial approach, which, in turn, is based on calculation of the indicators of openness and the commodity structure of exports. The article explores key tendencies in the foreign trade liberalization. The views of the leading economic schools in terms of the relationship between foreign trade policy and economic growth are analyzed. A comparative analysis of the openness of the economy of Ukraine and the world economy is carried out. The preconditions and consequences of the ultra-high level of openness of Ukraine's economy, as well as the commodity structure of Ukraine's exports according to broad economic categories, are analyzed. The author substantiates need to reorient the development priorities, which, along with existing ones, should include a shift away from the unilateral export orientedness and a simultaneous increase in domestic demand. The obtained results demonstrated: a tendency towards increased regulatory practices by both governments and international institutions; coordination and promotion of international cooperation in the foreign trade liberalization; increased use of non-tariff measures to protect the national market from foreign competition. The empirical basis of the obtained results helps to formulate the priorities of the expansion of Ukraine's exports, taking into account the determinants of export orientedness in the current environment, which should ensure the progress of all national economy sectors based on building the potential of domestic supply. |
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| ISSN: | 2222-4459 2311-116X |