This article focuses on the provisions of the WTO agreements regulating the use of subsidies in the agricultural sector by the member-states. It analyzes current practices of the WTO member-states’ in subsidizing their agricultural production. It also outlines the main trends in improving the practices of subsidizing agricultural producers in the leading countries of the world. The article also describes the major coalitions within the WTO that actively participate in the development and improvement of international trade rules in agricultural produce. In the current context whereby Ukraine seeks WTO accession, the structure of domestic measures in support of agriculture pursuant to the requirements of this international organization is given special attention. The article also considers the prospects for further liberalization of international trade in agricultural produce.
This article examines the preconditions and specifics for developing Ukraine’s foreign economic strategy and generalizes the experience of other countries in the impact of their strategies on their integration into the European Union and the development of their agricultural sector. The author evaluates the advantages and disadvantages of the main aspects of Ukraine’s international economic integration and considers the scope of choices for the country’s foreign economic strategy. She emphasizes the need to deal comprehensively with the integration of the agroindustrial complex (AIC), to use the available potential of the AIC more efficiently, to remove flaws in the legal framework and contradictions in the development of the national economy, and also considers the value of implementing an integration policy with more consideration of the country’s economic interests.
This article discusses the important issue of the development of the global market of oil and oil products. It offers an overview of how this market was formed and its current status, classification, location and potential of countries in the oil and oil processing business. It analyzes the Ukrainian oil products market. The article discusses the shortcomings and strategic areas for the development of Ukraine’s oil transport system. It presents an optimum method for creating integration groups in order to develop the oil processing business in Ukraine for the future. The article considers the main trends and outlines development prospects for the global oil and oil products market.
This article examines the methodological aspects and methods of transfer pricing in Ukrainian banking institutions. It explores the approaches used to define the functions of transfer pricing from the perspective of pricing theory and enterprise economics theory. It reviews the international and national experiences in the legal regulation of this type of pricing. It identifies the methodological preconditions for the use of transfer prices in banking institutions. The paper examines graphic models of transfer pricing. Based on calculations from the Hirschmann-Herfindale Index and the Lerner Index, it determines the level of competition on the banking market in Ukraine as of 1 January 2006. Conclusions are made concerning the practical utility of a theoretical model of transfer pricing, based on a study of the nature of an intermediate banking product and the degree of competitiveness of the banking market in Ukraine. The paper reviews the transfer pricing practices in Ukrainian banking institutions.
This article focuses on the environmental component of trade, primarily foreign trade, which concerns the interests of many countries. It examines the reciprocal influence of foreign trade and the environment. The author defines environmentally responsible trade and formulates its main principles. She examines the development of trade in forest products globally and in Ukraine and evaluates the impact of different trade restrictions on the condition of forests and the forestry industry. Indicators of the efficiency of foreign trade from the economic and environmental perspectives are proposed. Underlining the need for enterprises to switch over to environmentally responsible trade, the author proposes instruments to achieve this end.
In this article the authors analyze the essential operating principles of regional innovation systems (RIS), identify the types of RIS, explore the mechanisms of regional and national innovation systems, and determine the innovation capabilities of Ukrainian regions according to European Commission techniques.
This article presents a system for evaluating the state of financial globalization in a given country. It identifies the contemporary distinctive features of globalization in the area of finance. It also systematizes available globalization indicators at all levels of the financial system. It collects and analyzes statistical data with regard to key financial globalization indicators for Ukraine and Russia as countries that will soon become members of the World Trade Organization. Based on this analysis, the article provides an overview of the contemporary distinctive features of the financial sector in these counties in the context of globalization.
The article is devoted to the study of the efficiency of Ukraine’s stock market based on the efficient market hypothesis (EMH) which assumes that the price of a financial instrument completely reflects all the information about a given asset. Depending on the variety of information, weak, semi-strong and strong forms of market efficiency are applied The testing of market efficiency is based on verifying the hypothesis against actual statistical data. The study uses four statistical methods. The values of the stock index are used as source data, since the index can be interpreted as a hypothetical security (share), the price of which fluctuates all the time. This article demonstrates that Ukraine’s stock market on the whole is a weak form of market efficiency. It explains the specific strategies for a market with a weak form of efficiency and offers recommendations on the continued development of Ukraine’s stock market.
This article examines the promotion of technological exports in the context of making products competitive on the world market at the expense of quantified but not qualified factors. The author describes the destructive consequences of primary export growth. Relying on a designed structural model, she analyzes factors pertaining to technological exports and industrial production, and also evaluates the effectiveness of promoting exports for economic growth. She demonstrates the negative effect of the devaluation of the hryvnia on industrial production growth and the currency’s neutrality as a factor in the promotion of technological exports. The article establishes that technological exports determine to a considerable extent the dynamics of Ukraine’s economic growth, while the exports of raw materials worsen these indicators. The author shows that the export of metal products stands in the way of increasing technological export, and offers her recommendations to improve the dynamics of economic growth.
The article examines the conceptual evolution and development of the international competitiveness of national regions. It systematizes and describes the main theories of regional competitiveness. By identifying key factors in local dynamics, the author singles out three stages of the theoretical principles of the international competitiveness of regions and their perspectives.
This article examines existing techniques and proposes its own for analyzing the attractiveness of international commodity markets in light of the globalization of world economic processes. Taking into account the supranational nature of the world economic environment when examining categories in the attractiveness of international commodity markets, the author introduces a multilevel system of indicators: market attractiveness at the mega-level – global level; market attractiveness at the macro-level national level; market attractiveness at the mezo-level – level of an individual sector. The attractiveness of international commodity markets is considered to be the degree of conformity between market environment factors and the mega-, macro- and mezo-levels of the economic interests of enterprises concerning the entry into and strategies for their activity on the international commodity markets in the short-, medium- and long-term. The author designs a stage-by-stage technique for strategically analyzing the attractiveness of international commodity markets in order to frame efficient market strategies of enterprises. Relying on the proposed techniques, she rates the integrated indicators of market accessibility and the possibility of realizing the economic interests of enterprises in target markets, bringing the index data into a matrix of «market accessibility – opportunity for realizing the economic interests of enterprises.» The analysis of a country’s position in the matrix makes it possible to frame efficient market strategies for enterprises.
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