ECONOMIC GLOBALIZATION OF UKRAINE

УДК 339.9 (477)

Колодяжна О.В., студентка 4 курсу
ХНЕУ ім. С. Кузнеця

Globalization in recent decades has become an increasingly important factor in world development. It covers not only the economy, the sphere of entrepreneurial activity, but also the political and social spheres. For the first time the concept of “globalization” was introduced into a wide scientific revolution in the late 1980s – early 1990s. Economic globalization is a process of increasing economic integration between countries, which leads to the merging of individual national markets into one global market. Economic globalization can be viewed both in a positive and in negative aspects. Many countries are interested in the same question: whether it is necessary or not necessary to become participants in this world process. Today globalization is a generally accepted concept, which should be in consideration. The problems of financial subsidies of its individual members that have arisen in recent years in the European Union (the EU) are a confirmation of this idea. It is necessary to find out the reasons contributing to the globalization of the economy.

The first reason. The growing exchange of international goods and services. In recent years, under the influence of technical progress and other circumstances, international goods and services have increased. Nowadays, the growth rate of the exchange of goods and services is ahead of the growth rate of the gross domestic product (GDP).

The second reason. The increase in initial costs in the implementation of any projects in the field of production, science, technology (development and involvement in the turnover of natural resources, medical research and much more).

The third reason. The emergence of completely new financial technologies. An independent, transnational financial capital based on Euro currency markets, a system of transnational banks, global computer networks that provide rapid in flow of capital from one country to another, which can destroy even stable economic systems, has emerged. In such circumstances, currency problems that have arisen in any country, within 20-30 minutes, move to other countries [2]. 

The fourth reason. Expansion of objects of international exchange. Nowadays, not only real goods and services are traded, but also stocks, bonds, debentures, foreign exchange resources, depositary receipts.

The fifth reason. The emergence of transnational corporations (TNCs). These gigantic entities operate in the markets of other countries and are closely related to their capital. But companies are successfully introducing themselves into the global economy, acquiring the features of TNCs.

The expansion of the European Union will bring the Ukrainian market to the first place as a market for Ukrainian goods, and the second – as a source of Ukrainian imports. European integration for Ukraine:

  1. this is the way to modernize the economy;
  2. overcoming technical backwardness;
  3. attraction of foreign investments;
  4. attraction of the newest technologies;
  5. the creation of new jobs;
  6. access to world markets.

The world experience has shown that in terms of the sustainable development of national economies and the world economy as a whole, globalization has both positive and negative features. The first of them include the following:

  1. It contributes to the expansion of the world market, which allows the participating countries to increase production and sales, reduce costs, increase profits and, consequently, increases the competitiveness of national economies. In this regard, globalization is a progressive process.
  2. Globalization creates conditions for optimizing the distribution of productive forces on a global scale, improving the quality of goods on national markets, and contributes to the dissemination of knowledge in various areas of society, especially the achievements of science, technology, culture and education.
  3. Globalization has led to the over gent of the market with consumer goods and food. Today, consumers have access to almost everything that is available in the markets of Western countries.
  4. On the other hand globalization contributes to the leveling of the economic development of the countries of the world. However, the Scientists identify the following negative manifestations of globalization.

Negative features include the following:

  1. Globalization has led to a sharp intensification of competition between TNCs for the spheres of capital investment and world domination.
  2. Globalization has led to the restriction of the sovereignty of many countries.
  3. Globalization has not been able to overcome the dangerous gap in the level of economic development of different countries.
  4. Globalization has given rise to unregulated migration, which has led to an exacerbation of the social and economic situation in several European countries and the United States.

In conclusion, in connection with the expansion of the EU for Ukraine, it becomes relevant to address the issue of improving the trade mode with the EU as a whole. In particular, on granting Ukraine the status of a country with a market economy in full (not only in the framework of anti-dumping investigations). In the future, the conclusion of a free trade agreement between Ukraine and the EU which is provided for in the current Partnership and Cooperation Agreement may become a means of solving many problems.

REFERENCES

  1. Anisimov A.A. Macro economics. Theory, practice, security. – M.: UNITY-DANA, 2010. – 497 p.

  2. Lindert P. Economy of world economic relations / P. Lindert. – M.: Progress, 1992. – 514 p.

Науковий керівник

старший викладач Михайлова Л.З.