ECONOMIC POLICY OF UKRAINE’S EUROPEAN INTEGRATION: ASPECTS OF SMALL BUSINESS
DOI:
https://doi.org/10.31891/mdes/2022-3-1Keywords:
European integration, economic policy, small business, European market, foreign economic activity, small business entityAbstract
The intensification of globalization challenges requires the search for new directions and tools to overcome them, and this will anticipate the negative impact and accelerate the appropriate adaptation of the economy. For Ukraine, whose economy has long been steadily increasing external hybrid threats, the development of the European integration vector, which creates significant economic, social, geopolitical and other opportunities for establishment in the international economy, is a priority. At the same time, internal competitive potential must be used effectively, the use of which will provide the necessary integration processes. Priority should be given to the small business sector, which according to its inherent characteristics has significant competitive opportunities to achieve the desired goals.
The aim of the article is to generalize theoretical and methodological principles and develop applied recommendations for the implementation of economic policy of Ukraine's European integration based on competitive opportunities of small businesses that take into account current globalization trends and aspects of institutional change and structural reforms of the national economy.
The methodological basis of the research is the provisions of theoretical generalization, structural-functional analysis, abstract-logical thinking in the process of forming theoretical and practical generalizations on the content characteristics and specific opportunities of small business, which must be taken into account when implementing economic policy of European integration.
The article highlights the importance of the development of Ukraine’s European integration relations, which requires the development and implementation of appropriate state economic policy. The necessity of such direction of ensuring the progress of the national economy from the standpoint of increasing globalization challenges and their negative impact is substantiated. The importance of involving the small business sector and strengthening its participation at all stages of the implementation of Ukraine’s economic integration policy is highlighted. The characteristics of small business opportunities are given, which allow to effectively ensure the European integration of the country and to expand its system of international economic relations in general. Summarizing scientific assumptions about the benefits of small business as the implementation of European economic policy, identified areas (economic, social, socio-political) in which the sector is effective. The characteristics of Ukraine’s economy that serve as prerequisites and determine the expected results of small business participation in the implementation of economic policy of European integration are identified. It is concluded that small business in Ukraine has significant potential for successful implementation of economic policy of European integration, but it is underestimated and insufficiently used in European integration processes.
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