Bìznes Inform (Jun 2020)
The Development Vectors of Ukrainian Economy in the Conditions of «Touchless Economy»
Abstract
The article analyzes the impact of the new conditions, namely, the «touchless economy», on the national economy, defining the main vectors of its development. The article is aimed at defining the possible vectors of development of Ukrainian economy in the conditions of the «touchless economy». The objectives of the article are: evaluation of the problems in Ukraine’s economic development, which manifested themselves during the deployment of the COVID pandemic; analysis of the international experience in forming growth strategies in the context of an economic recession; determination of the specific vectors in the strategic development of Ukraine’s economy in the conditions of «limited contact». In accordance with the objectives set, the innovative development of Ukraine was analyzed by assessing the dynamics of the number of employees involved in the implementation of scientific research and development; the proportion of the scientific research and development costs in GDP, as well as the share of industrial enterprises that innovated, in the total number of industrial enterprises. The impact of the enterprises’ innovation activities on the country’s economy in the context of the COVID-19 pandemic deployment is determined using the Basic Industries Production Index and the Economic Sentiment Indicator. As to the international experience, the experience of a rapid recovery from a crisis based on the phenomenon of «economic miracle» is analyzed. First of all, the experience of Germany after the Second World War as a rather effective model of rapid reform and economic development is taken into account. Singapore’s experience of an «economic miracle» based on concentration upon the country’s economic benefits is also evaluated. The emphasis is also put on China’s experience as a moderator of a new culture of employment, which is extremely relevant in the current economy of Ukraine. As result of the research, the main vectors of development of Ukraine’s economy in the conditions of «touchless economy» are defined as follows: instant transition of the economy from the strategy of exporting raw materials to the strategy of the exporter of product; public-private partnership in implementing the development projects; concentrating upon priority sectors of the economy; introducing high technology into priority sectors of the economy and stimulating demand for products from domestic IT companies; formation of a new culture of employment with the popularization the idea of a «Ukrainian economic miracle» at the the State programs level.
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