fbpx

Directions for Reducing Excessive Import Dependence of Ukraineโ€™s Economy

 

Volodymyr Olefir – Institute for Economics and Forecasting, NAS of Ukraine, Panasa Myrnogo, 26, Kyiv, 01011, Ukraine

 

7th International Scientific ERAZ Conference โ€“ ERAZ 2021 โ€“ Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT,ย  Online/virtual, May 27, 2021

ERAZ Conference Proceedings published by:ย Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; AMBIS University, Prague – Czech Republic; Faculty of Applied Management, Economics and Finance โ€“ Belgrade, Serbia

ERAZ Conference 2021 Conference Proceedings: ISBN 978-86-80194-46-2, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.2021

Keywords:
Import dependence;
Import substitution;
Trade policy;
Competitiveness;
Globalization;
Ukraine

DOI: https://doi.org/10.31410/ERAZ.2021.101

Abstract:ย The purpose of the study is to substantiate the directions and methods of reducing excessive import dependence of the Ukrainian econยญomy. To achieve the goal of the study, the following methods were used: comparison, grouping, averages, seasonal smoothing of time series, factor analysis. The level and dynamics of import dependence of the Ukrainian economy are estimated. A comparative analysis of the import dependence of the Ukrainian economy with the import dependence of the economies of other countries was made. It is proved that the level of import dependence of Ukraineโ€™s economy is excessive. The main reasons for excessive import dependence are identified. The negative consequences of excessive import dependence have been studied. Foreign experience of increasing competiยญtiveness and reducing import dependence is analyzed. The effectiveness of national programs to increase domestic production is summarized. Direcยญtions to reduce excessive import dependence are proposed. The concept of rational protectionism is substantiated.

ERAZ Conference

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.ย 

ERAZ Conference Open Access

References

 

Grabner, C., Heimberger, P., Kapeller, J., & Sprinholz F. (2018). Measuring economic openness: a review of existing measures and empirical practices. (WIIW Working Paper 157). Viยญenna: The Vienna Institute for International Economic Studies. Retrieved: April 29, 2021, from https://wiiw.ac.at/measuring-economic-openness-dlp-4741.pdf.

International Trade Centre. (2019). Trade Map. Retrieved from https://www.trademap.org

List of countries and dependencies by population. (2019). In Wikimedia. Retrieved: April 29, 2021, from https://en.wikipedia.org/wiki

Reinert, E. (2007). How Rich Countries Got Rich … and Why Poor Countries Stay Poor. Lonยญdon, UK: Constable.

Schwab, K., & Zahidi S. (Eds.). (2020). The Global Competitiveness Report. Geneva: World Economic Forum. Retrieved: April 29, 2021, from http://www3.weforum.org/docs/WEF_ TheGlobalCompetitivenessReport2020.pdf

State Statistics Service of Ukraine. (2019). Agriculture of Ukraine. Kyiv: Author. Retrieved from http://www.ukrstat.gov.ua

State Statistics Service of Ukraine. (2000-2019). Statistical Yearbook of Ukraine. Kyiv: Author. Retrieved from http://www.ukrstat.gov.ua

Studwell, J. (2014). How Asia Works: Success and Failure in the Worldโ€˜s Most Dynamic Region. London, UK: Grove Press.

World Bank. (2019). GDP per capita, PPP; GDP, PPP; GDP, nominal. Retrieved from https:// data.worldbank.org