STRATEGY OF ECONOMIC DEVELOPMENT OF THE STATE IN THE CONDITIONS OF GLOBALIZATION

Oleksii Bilyaze ()
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Oleksii Bilyaze: Black Sea Research Institute of Economics and Innovation, Ukrain

Three Seas Economic Journal, 2022, vol. 3, issue 2

Abstract: The influence of globalization processes on the functioning and implementation of the strategy of economic development of the state is analyzed and proved. The author's approach to defining the concept of economic globalization and economic strategy of the state taking into account globalization challenges is offered, the model of realization of strategy of economic development of the state in the conditions of globalization is developed. New external challenges for Ukraine in the context of globalization and further integration of the country into the world economy include both potential benefits that should be sought to maximize and serious risks and threats that require targeted action to identify, mitigate and neutralize. Ukraine's economic development are formed. In the light of modern globalization challenges and a new stage of Ukraine's economic development, the importance of scientific substantiation of national economic strategies and the formation of effective state economic policy on their basis is growing. It is important to form a new vision for the choice of economic development strategies, which will be based on scientific knowledge, existing patterns of modern economic development and a clear understanding of the possibilities of advanced development. The choice of economic development strategy in the context of globalization requires a theoretical understanding of the essence of this phenomenon, its impact, determining their place in the system of macroeconomic development. New external challenges for Ukraine in the context of globalization and further integration of the country into the world economy include both potential benefits that should be sought to maximize and serious risks and threats that require targeted action to identify, mitigate and neutralize. The strategy of economic development of the state should be to effectively integrate the economy into globalization, which ensures maximum use of the resulting benefits and minimize the inevitable risks in favor of successful economic development. The strategy of economic development of the state in the effective introduction of the economy in the processes of globalization, which ensures maximum use of benefits and minimizes the risks in favor of successful economic development of the state.

Keywords: economic development; state strategy; globalization; economic globalization (search for similar items in EconPapers)
JEL-codes: F62 F63 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bal:3seasj:2661-5150:2022:3:2:3

DOI: 10.30525/2661-5150/2022-2-3

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