2019 2(37) 6

Globalizing challenges of Ukraine’s economy: diagnosing the state of investment climate as a driving force in the context of economic tendency

M. Vakulich
Phd in Economic Sciences
Dnepropetrovsk State University of Internal Affairs, Dnipro

Citation Format
Vakulich, M. M. (2019). Globalizing challenges of Ukraine’s economy: diagnosing the state of investment climate as a driving force in the context of economic tendency. Visnyk ekonomichnoi nauky Ukrainy, 2 (37), рр. 38-43. doi: https://doi.org/10.37405/1729-7206.2019.2(37).38-43



Globalization, which has become one of the defining characteristics of the world economy in the 21st century, has put before member Governments issue search of new forms and methods of adaptation of national economic and political-legal environments to modern requirements of international economic relations. Rapid changes in the factors determining competitiveness on world markets, dynamic development of the global environment, forcing Governments in the formation of conditions for economic growth, actively seek to ensure national competitiveness on a global scale. The most urgent is the need for management of investment climate of Ukraine’s economy, which assure its economic development, taking into account the social and environmental interests of the society. However, the process is compounded by the lack of a clear understanding of its essence.

The development of world financial crisis resulted in forming of unfavorable terms of ménage and considerable abbreviation of investment activity. Determination components which have influence on investment attractiveness has a large economic value, as it is necessary at first correctly to estimate terms which processes of investments are for, and then carry out the search of the most attractive object of investing.

In the article the role of investment climate is examined in development of economy, in bringing in foreign investments. Constituents influencing on forming of investment climate are analyzed. Directions of improvement of investment climate of country are certain. The main purpose of investment policy is the development of optimal conditions for investment of own and borrowed financial and other resources that provide income increase on the invested capital for expansion of enterprise economic activity and the development of better conditions for winning the competition.

Problem of achieving steady growth of the Ukrainian economy requires greater investment and innovation processes, the reorientation of current management and regulation for long-term strategic planning..

management, investment climate, constituents, factors, evaluation, attractiveness.


  1. Sukhorukov А.І., Krupelnytska T.P. Prіoriteti derzhavnoї polіtiki shhodo іnvesticіjnogo zabezpechennja strukturnih zrushen’ u promislovostі [The priorities of public policy for investment support structural changes in the industry]. Retrieved from http://www.niss.gov.ua/content/articles/files/invest_zabezp-2873f.pdf [in Ukrainian].
  2. Mussina L.A. (2012). Formuvannja ta realіzacіja derzhavnoї polіtiki sprijannja rozvitku іnnovacіjnih virobnictv і tehnologіj [Formulation and implementation of public policies to promote innovation and production technology]. Kyiv, NDEI. 214 p. [in Ukrainian].
  3. Haidutsky A.P. (2004). Metodologіchnі aspekti іnvesticіjnoї privablivostі ekonomіki [Methodological aspects of investment attractiveness of economy]. Regional Economics, 4, рр. 81-86 [in Ukrainian].
  4. Golovatyuk V.M. (2010). Problemi polіpshennja іnnovacіjnoї sprijatlivostі regіonal’nih ekonomіk [Problems improving of the innovation favourable of regional economies]. Regional Economics, 1, pp. 89-98 [in Ukrainian].
  5. Chumachenko N.V. (2012). Modeljuvannja іnvesticіjnih procesіv v agropromislovomu kompleksі Ukraїni [Investment processes modelling in the Ukrainian agriculture]. Vinnytsia, Globe Press, 136 p. [in Ukrainian].
  6. Zhalilo J.A. (2009). Teorіja ta praktika formuvannja efektivnoї ekonomіchnoї strategії derzhavi [Theory and practice of forming an effective economic strategy states] Kyiv, NISS, 336 p. [in Ukrainian].
  7. The official website of the State Statistics Service of Ukraine. Retrieved from http://www.ukrstat.gov.ua [in Ukrainian].
  8. Macroeconomic indicator. Retrieved from http://www.bank.gov.ua/control/uk/publish/category?at_id=57896 [in Ukrainian].
  9. Prіoriteti іnvesticіjnoї polіtiki u kontekstі modernіzacії ekonomіki Ukraїni: analіtichna dopovіd [Priorities investment policy in the context of the modernization of Ukrainian economy: analytical report]. K., NISS, 2013, 48 p. [in Ukrainian].
  10. Research methodology. IMD World Competitiveness Year-book, 2013. Retrieved from http://www.imd.ch/research/centers/wcc/research_methodology.cfm
  11. The official website of “American research center” (The Heritage Foundation). Retrieved from http://www.heritage.org/.
  12. The official website “Cato Institute”. Retrieved from http://www.cato.org/.

Full Text (.pdf)