System characteristics of realization of competitive advantages of the economy of the regions of Ukraine

Abstract

The purpose of the article is the scientific substantiation of the systemic aspects of the implementation of the competitive advantages of the economy of the regions of Ukraine, providing characteristics of the features of innovative development and competition of industries, according to which the strategic guidelines for ensuring and increasing the level of competitiveness of the region are agreed upon. In the article, scientific assumptions are made based on the existing trends in the economy of Ukraine and its regional character, which made it possible to systematically clarify the strategic orientations and expected results of the realization of the competitive advantages of the regions. The analysis of the latest research made it possible to conclude the existence of different approaches to realizing the competitive advantages of the regional economy, from which those that reveal the aspects of innovative development and regional competition of industries are highlighted. It is emphasized that the leveling of existing obstacles in the development of the regional economy of Ukraine requires the state authorities to stimulate structural transformational shifts and lay the technical, technological, and innovative foundations of a new model of growth of the national economy. Accordingly, the strategic priorities for the realization of the competitive advantages of the regions of Ukraine, which rationally reveal a new model of structuring the regional economy and clear guidelines for the innovative development of industries while not violating the principles of competition but, on the contrary, stimulating and strengthening it, need to be supplemented. A system of tools and expected results for realizing the competitive advantages of the economy of the regions of Ukraine has been formed. The distribution of tools was carried out based on the need to create and increase the scope of activities of local integrated systems and institutional elements of cross-functional and cross-industry cooperation. The regional features of Ukraine’s economy are summarized based on available competitive advantages, namely the high level of industrial production development, the formation of cross-border transit and logistics potential, specialization in agro-industrial production, a high level of scientific and technological development, and the creation of IT services. Keywords: competitive advantages of the regional economy, competitive potential, competition, regional economy.