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Structural changes in Ukraine's economy

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  • T. Prykhodko

Abstract

The article generalizes the tendencies and specific features of the structural changes in Ukraine and the factors of macro-instability, which affected the production structure, during the pre-crisis and post-crisis periods. The author provides various methodological approaches to the formalized assessment of structural dynamics based on the use of index methods of macro-structural analysis and make it possible, with the use of local and integral indexes of structural change, to define qualitative estimates of the cumulative effect of the change of the main intersectoral output proportions by economic and industrial activities. The article shows that the considerable losses incurred by the national economy during the crisis and post-crisis periods (with stronger imbalances in the production, fiscal, foreign economic and other areas caused not so by the impact of the external financial and economic crisis, as by internal economically dangerous distortions in the systemic reproduction processes related, first of all, to the inefficient and overburdened economic structure and low technological level of this country's exports. The author justifies the formation of the tendencies of increased influence of the price factor on the structural dynamics under the conditions of macro-instability. The author proves that, beginning with 2005, Ukraine's economy has been dominated by the impact of the price factor on the structural dynamics, so the output dynamics, by economic activities, was no longer the main instrument to change the intersectoral output proportions and lost its properties of the main regulator of the capital movement and corresponding structural changes. The author defines the inflation dynamics and GDP increase under which structural changes would take place mainly at the expense of output expansion and the possibilities of price pushed distribution of nominal produce volumes between the sectors would considerably decline. The author justifies the need to realize the guidelines and measures of structural policy related to encouraging the price regulation to contribute to investment attractiveness of high value added activities, which are able to raise the technological level of the production. Among the strategic guidelines of structural policy, the author mentions the use of the agrarian potential to provide the national food security and make Ukraine one of the world's leading food producers and exporters.

Suggested Citation

  • T. Prykhodko, 2013. "Structural changes in Ukraine's economy," Economy and Forecasting, Valeriy Heyets, issue 3, pages 59-76.
  • Handle: RePEc:eip:journl:y:2013:i:3:p:59-76
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