FEATURES OF FUNCTIONING NATIONAL MODEL OF RESOURCE ECONOMICS IN UKRAINE

Abstract

Introduction. Almost thirty years in the modern history of Ukraine were marked by modest economic and social outcomes. Extremely low rates of economic growth, price and exchange rate instability, technological backwardness of the majority of domestic enterprises, their mass closing, degradation of production and social infrastructure, as well as human capital, low incomes of the vast majority of the population and their significant differentiation, deformations in the work of democratic mechanisms led to the need to revise the existing paradigm of socio-economic development. The purpose of the research is to study the theoretical and practical features of forming and functioning of national model of resource economics. Results. The main methodological approaches for assessing the nature and features of the functioning of the domestic economy are outlined. It is determined that Ukrainian export and GDP are highly dependent on the production and export of hard and soft resources, with the latter replacing the former. We can conclude that there is a long-term trend in the structure of commodity export to the replacement of hard resources export by the export of soft resources, and the calculated correlation coefficient is 0.95. There have been positive trends towards a gradual increase in the gross production of grain, including through the increased productivity of production and labour, which will facilitate medium-term economic growth. Conclusions. The creation of a modern model of competitive economics can help to catch up the level of social and economic development of the leading countries of the world. However, in the medium term, the reform of the national economic model with minimal transformation costs is possible only under the conditions of further development, primarily, of agrarian production, which will act as a medium-term development driver and at the same time will ensure certain macroeconomic stability.

Keywords

• resource economy
• export and import of resources
• Gross Domestic Product
• ferrous metallurgy
• agrarian production
• national economic model of Ukraine.