PRIORITIES FOR THE DEVELOPMENT OF THE ECONOMY OF THE USA AND SOME EUROPEAN COUNTRIES

Anton Stolitnii () and Vitalii Makhinchuk ()
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Anton Stolitnii: Classical Private University, Ukraine
Vitalii Makhinchuk: F.G. Burchak Scientific-Research Institute of Private Law and Business of the National Academy of Law Sciences of Ukraine, Ukraine

Baltic Journal of Economic Studies, 2019, vol. 5, issue 5

Abstract: The purpose of the article is to reveal the newest and priority tendencies towards formation of the directions of encouraging the development of the world economy under globalization. The subject of the research is the priorities for the development of the economy of the USA and some European countries. Methodology. On the basis of the scientific literature analysis, the current economic situation of the USA and some European countries was analyzed and the strategic priorities and goals of the world economic development were determined, as well as the dialectical method, the method of scientific abstraction and the method of system analysis were used. The studies have shown that in order to implement foreign experience there is a number of key economic problems, which impede the development of the economy. It was found that a complex structural transformation of the world economy is needed to increase the share of the high-tech and innovative sectors. Practical implication. A comprehensive analysis of the status and determinants of economic development of the USA and some European countries from the perspective of the threats and risks associated with crisis situations in the modern world was made. The basic principles of the formation and implementation of the economic development strategy based on the harmonization of strategic priorities and strategic goals of the USA and the EU were determined, as well as the need to reform the economic sector in order to build promising areas of the economy was substantiated. Value / originality. The conducted research revealed the state of development of the economic system of the USA and some European countries.

Keywords: economy; economic development; innovative development; foreign experience; priorities (search for similar items in EconPapers)
JEL-codes: F36 F63 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2017:5:5:20

DOI: 10.30525/2256-0742/2019-5-5-151-154

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