NEW INDUSTRIALIZATION AS A CONDITION FOR SUSTAINABLE DEVELOPMENT OF UKRAINIAN ECONOMY
Abstract
The article is devoted to the problem of implementation of sustainable development. It is pointed out that the main feature which provides the adequate way of economic growth is the development on the basis of innovations. Considering the 2030 Agenda for Sustainable Development, which sets Sustainable Development Goals, the conclusion about the necessity of new industrialization has been made. The reasoning of this conclusion is in key features of progressive industry which are: environment friendly way of production, efficiency, innovative development. For evaluation of the ability of Ukrainian economy to conduct the transition to sustainable development the structuralist approach has been applied. It is shown that the quality of production development is represented by the place of the country in foreign market. On the basis of the structure of exporting and importing goods it has been defined that Ukrainian economy has weak conditions of trade. It is proved that current specialization on production of commodities makes it impossible to achieve sustainable development goals. First of all, the main idea of sustainable development is to prevent the exhaustion of natural resources. It is noted that commodities are mainly standardized and its production can be made by quite limited number of people. It is stressed, that these features of production provide weak incentives to implement innovations, because they create favourable conditions for monopoly rent extraction. It is pointed out that competition is highly important for stimulation of innovations. Moreover, importing high value-added goods while exporting goods with low value-added conserve the structure of economy which is unable to provide the improvement of social welfare, innovative development and development of human capital. The Prebisch-Singer hypothesis, which is based on the comparison of prices of manufactured and primary goods, was applied to uncover the fallacy of specialization on commodities. That is why it’s highly important to develop instruments of industrialization policy for Ukraine which is aimed on fundamental structural change and technological renovation of Ukrainian industry. The main idea is to build industry which is able to reproduce itself on the basis on innovative development.
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