WORLD EXPERIENCE OF FORMATION OF STATE INVESTMENT POLICY AND MECHANISMS FOR ITS IMPLEMENTATION
Journal Title: Вісник Київського національного університету імені Тараса Шевченка. Економіка. - Year 2014, Vol 8, Issue 161
Abstract
The paper analyzes the current state of regulatory and legal framework of public investment activities in Ukraine. Taking into account recommendations of international organizations, the author investigated world trends in development of public investment policies, as well as mechanisms of its implementation, and the importance of the brand new investment policy that is to fuel economic growth and competitiveness of domestic productions due to synergy of investment policy and development of industries. The basic features of public investment policy in Ukraine and possibilities of its further integration with brand new investment policies are being disclosed. It is essential to highlight the top-priority sectors for investment inflows and establish the optimal ratio of public and private funding. Regarding different investment policy approaches of EU countries there is a possibility of implementing certain of them in Ukraine. The number of recommendations are given in order to introduce the harmonization of regulatory and legislative framework in Ukraine with European standards; expansion of budget investment by enhancing the State Bank for Reconstruction and Development to support first-priority sectors; clear defining of legally approved priority areas of economic growth and criteria for the allocation of capital expenditures, allowing the effective growth of the economy; revision of current state programs concerning its expediency, quantity, and impact on industry and economy. Considering experience of developed countries, it is reasonable to introduce new forms of support for such industries as coal mining, agriculture, which are likely to promote domestic private investment in these areas. The author analyzed the prospects of refocusing of government investment into economic and social infrastructure, innovative programs, which ensure the transition of the economy to hightech and science-intensive sectors, improving the competitiveness of Ukrainian companies on global markets.
Authors and Affiliations
Tetiana Zatonatska
Keywords
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- EP ID EP404104
- DOI 10.17721/1728-2667.2014/161-8/1
- Views 87
- Downloads 0
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