ქართ | Eng

ISSN 2449-2396 (Print) | E ISSN 2449-2612 (Online)

JEL Classifications: A 13, B 29, O 29


LIBERALIZATION OF ECONOMIC DEVELOPMENT AS A DRIVER OF ECONOMIC GROWTH AND COMPETITIVENESS OF UKRAINE`S ECONOMY

Author: Olena Nesterenko | Published: 2019-12-27 | Pages: 77 - 82

Full Text

For Citation: Nesterenko, O. (2019). Liberalization of Economic Development as a Driver of Economic Growth and Competitiveness of Ukraine`s Economy. Globalization And Business, #8, pp. 77-82

Abstract

For a long time theoretical representations and real ac- tions of the reformers of the socio-economic system were in the plane of the orthodox neoclassical theory. At the same time, reformist rhetoric contained leading neo-liberal ideas, which substantially discredited them. The main task of the author is to restore the reputation of the neo-liberal economic doctrine as a whole and to prove the necessity of liberalizing the Ukrainian economy in particular.

The article reveals the essence of the liberalization of economic life as a movement towards economic freedom in the broadest sense. The main ideological and philosophical content of liberalization is the strengthening of human-cen- tered economic system, the transparency of economic relations, the humanization of the economic space, the institutionalization of interactions between all economic actors. In turn, the key economic and political dimension of liberalization can be represented by an integrated index of economic freedom, which assesses the level of real support for economic freedom by the relevant institutions and policies of the countries. The author analyzes the sources and factors of the expansion or limitation of the influence of state policy and institutions on economic freedom, which determine the level of socio-economic development of countries. It has been determined that countries that have formed relevant institutions and  policies  that  promote  economic  freedom have higher levels of income, wealth, investment and more rapid economic growth.


Keywords

ORTHODOX NEOCLASSICAL THEORY, NEOLIBERAL ECONOMIC THEORY, LIBERALIZATION OF THE ECONOMY, ECONOMIC FREEDOM, INSTITUTIONALIZATION OF ECONOMIC INTERACTIONS, INDEX OF ECONOMIC FREEDOM


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