The Journal of International Economic Policy

13

Authors: Gerald Groshek

Measured against its central European neighbors, Ukraine has experienced a less than successful path to the reform and integration of its economy since independence. Corruption has continued at an elevated level and annual output growth has been uneven and anemic. Given its geographic position on the edge of the former Soviet Union and the persistence of domestic political schisms, such feeble results might be expected. This paper examines the development of Ukraine’s intra-industry trade links with EU partners, in light of its established ties to Russia, as a measure and predictor of the strength of its reform efforts. Its progress is measured against that of its immediate western neighbor: Slovakia. The use of intra-industry trade, as an indicator of both demand and supply side constraints, might reveal the degree to which Ukrainian and Slovak economic considerations have compelled the adoption of reforms. A key economic consideration is the preference for reform and enhanced integration with the EU versus the protection of incumbent interests and links with traditional trading partners. An exploration of developments in Slovak and Ukraine intra-industry trade provides an indication of which factor currently dominates.

18

Authors: Ellana Molchanova, Yuriy Solodkovskyy

The article deals with the problem caused by the crisis of the Jamaican currency system, namely, with the search for new forms of money that can replace dollars in international transactions. Alternative currency as the best global option has been searched both by national governments and international organisations, as well as the world’s leading scientists. All current studies, and our research, are based on historical definition of the nature, forms and other aspects of money. The theoretical principles that have been studied helped confirm our hypotheses about the existence of absolutely new forms of money, including electronic. In this study, we proved that there are all necessary prerequisites for existence of electronic money as a new global currency. The key risks and possible directions of their neutralising were analysed. This allowed reviewing the hypothesis of introduction of fiduciary electronic money, studying historical facts of their existence and substantiating their implementation.

22

Authors: Nataliia Karasova

This article describes globalisation preconditions for export in the agricultural sector of Ukraine. The summarised results of the previous research highlight the essential characteristics of the export-led activity concept, establish the current trends, factor conditions and the impact of globalisation on the development of agricultural exports. The article also shows the dynamics and peculiarities of goods and geographical structure of agrarian exports. The areas and causes of Ukraine’s vulnerability in the global agro-food market have been established. The work also deals with the directions of export-led activity development in the context of economic globalisation.

25

Authors: Svitlana Radzievska

The paper presents main trends in global economic development and impact thereof on Ukraine. A characteristic feature of the contemporary world is acceleration of globalization caused by achievements of the scientific and technological progress, which have provided technical means for successful overcoming the factors of time and space, whereby making the world more compact and ensuring the possibility of functioning as a single economic mechanism. Growing of opportunities for solving global problems is accompanied by aggravation of the latter such as: population growth, depletion of natural resources, deterioration of the environment, the mounting danger of climatic changes, potential failure to provide people with foods and potable water. Growth of social inequality in the world is also observed, as is increased differentiation of population by income level, which intensifies migration processes and thereby creates new problems related to coexistence of people belonging to different civilizations, cultures and value systems. An integral part of globalization is formation of regional associations which requires Ukraine to participate in this phase of globalization by means of becoming a member of a regional integration association with the purpose of improving its competitiveness and ensuring decent living for Ukrainian people under conditions of humanity functioning as a single planetary organism.