Competitiveness of Ukraine's economy: what factors interfere with its development

Abstract

Introduction. Today, the competitiveness of the national economy is one of the most influential concepts of development economics and practical policy, because it not only covers purely economic indicators, but also evaluates the economic results of non-economic phenomena important for stable growth, such as quality of political processes and governance. education, scientific base, rule of law, culture, value system, information structure. There are many scientific papers in the world that study the competitiveness of countries in the context of globalization. This problem was studied in detail by P. Krugman, E. Warner, J. Keynes, R. Barro, M. Porter, and J. Schumpeter. Despite such a large number of studies, the problems of forming the country's competitiveness still remain unsolved and not sufficiently substantiated. The purpose of the paper is to analyze the level of competitiveness of the economy of Ukraine and its regions, to identify factors that hinder development. Result. The key to Ukraine's high competitiveness at the international level is to increase the efficiency and productivity of the diversified national economy, which must be based on a strong technological, scientific and investment base. The current level of budget funding for education is devoid of investment, does not provide reliable development and modernization of education. Domestic business structures have not yet realized that investing in education is one of the most profitable areas of investment. The strategic task for Ukraine at the present stage should be the priority development of science and high technologies and active innovation policy. Innovation is the potential for economic growth. Conclusion. Only through the intensification of economic activity will Ukraine be able to integrate into the world community, ensure the necessary level of economic security and well-being of citizens. To ensure competitiveness, it is necessary to reorient financial resources from current consumption to investment and direct investment activities to the formation of an efficient national economy, in particular, to innovate investments, intensify innovation as a priority component of socio-economic development strategy.