Trends of changes in the institutional environment of Ukraine
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 12, Issue
Abstract
Introduction. The institutional environment is changing due to the development of information and communication technologies, the country’s integration into the world economy and globalization processes. State regional policy should be directed to the formation of the legal principles of its development which would ensure the effectiveness of the institutions operating in the country. The purpose of the research paper is to study the transformational changes in the institutional environment in Ukraine and the main indicators for identifying such changes. Results. The research paper covers the concept of the institutional environment and analyzes the main factors contributing to its development. It was established that the institutional environment in Ukraine was characterized by chaotic and unsystematic changes. Two main stages of the formation of the institutional environment were identified, which allowed ensuring a change in the direction of the formation of regional structural policy in Ukraine: from Ukraine’s independence and before decentralization; since the beginning of the decentralization of power reform in 2014 and up to date. The legal framework of the institutional environment which was formed in 1991-2014 did not ensure the creation of a coherent system of regional development and a system of institutions that would enable the implementation of regional structural policies and ensure the effectiveness of regional development projects. The existing regulatory acts were not harmonized with each other, and sources of funding for regional development were not identified. Decentralization in Ukraine contributed to the development of institutions that have a positive impact on the socio-economic development of the regions. The main regulatory acts that promote the development of the institutional environment are: The Concept of Reforming Local Self-Government and Territorial Organization of Power in Ukraine and the Law of Ukraine “On the Basics of State Regional Policy”. A separate direction of state policy is the formation of an institutional environment for the regional development of SMEs. Conclusions. It is revealed that during the years of Ukraine’s independence, the institutional (formal and informal) system begins to change, gradually providing the socio-economic effect. The main indicators of development point to some positive changes in the institutional environment that began in 2014 due to the ongoing processes of decentralization of power and the formation of a new regional structural policy. Trends in such changes relate, first of all, to overcoming corruption, promoting the development of a competitive environment as well as small and medium-sized businesses in Ukraine.
Authors and Affiliations
Maryna Volodymyrivna Shashyna
Keywords
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