The nature of resource and institutional constraints of the Ukrainian economy’s development
The article examines the theoretical and empirical background for classification the current stage of Ukrainian economy’s development. It is proved that the relatively high capital intensity of the social product in Ukraine does not allow to consider for a great degree of physical wear and tear and obsolescence of fixed assets. Accordingly, a key resource constraint expand production capacity of the domestic economy appears it is the lack of physical capital. At the same time, the best availability of human resources of the economy and the growth of the quality of its institutional structure can make the domestic economic environment conducive to Bole saturation physical capital, which will increase investment and innovation. The main institutional constraints of the domestic economy’s development, in our view, related to the direction of economic institutions (in particular, market structure, strategy to maintain competitiveness of the national production) at a high concentration of the benefits and advantages of the growth in production.
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Keywords: economic development, increase of production, resource constraints, institutional constraints. |
THEORY
Mosiychuk Taras
candidate for PhD SHEI «Kyiv National Economic University named after Vadym Hetman»
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