Strategies for economic development: the Ukrainian case

Abstract

The article studies the peculiarities of economic strategies of developed countries of the world and carries out a comparative analysis of the strategic goals of Ukraine and Poland. Based on correlation and graphical analysis, it is proved that the basis of economic growth of Poland, which had actually the same starting conditions as Ukraine after the collapse of the USSR, is the economic ideology, which provides for the development, stimulation, and support of the processing industry. In particular, the study showed that it is the deindustrialization of the Ukrainian economy and the reduction of processing industry products in the structure of Ukrainian exports leads to a slowdown in the growth rate of absolute GDP and GDP per capita, in Poland, there are cardinally opposite trends. The formation of economic strategies within the framework of the ideology of stimulation of the processing industry adapts macroeconomic policy to meet such goals by increasing capital expenditures, implementation of state-targeted development programs, debt financing. Besides, an important strategic principle of Ukraine's economic strategies should be the principle of increasing capital expenditures of the state budget, at the expense of deficit and debt financing of target programs of the economic market.