Abstract
Productivity and economic growth are key factors to maintain and improve the competitiveness of nations in the global market. The paper analyzes the prospects for the competitiveness of Ukrainian exports in the terms of pandemic circumstances and post-pandemic recovery of the global economy. The prospects for strengthening the competitiveness of Ukraine’s economy evaluating based on the modified approach for assessing the revealed comparative advantage. The dynamics and structure of major industries exports were estimating. The research result proved that the growth of innovative products in the iron and steel industry increases its competitiveness in the world market. The established reduction of the identified comparative advantages index for the main exports positions reflects the presence of structural and technological lags in the modern structure of the national economy and requires economic policy measures aimed at long-term action. Respectively, the main goals of contemporary national economic policy aimed at promoting the export competitiveness of Ukrainian products (goods & services) have to be the stimulating of R&D, infrastructure modernization and capital deepening.
Highlights
2020 marked the beginning of the global recession in global economic dynamics
The main goals of contemporary national economic policy aimed at promoting the export competitiveness of Ukrainian products have to be the stimulating of R&D, infrastructure modernization and capital deepening
Overcoming the effects of the global economic crisis is difficult for advanced economies, but low-income countries (LIC) are affected and burdened with significant external debts
Summary
2020 marked the beginning of the global recession in global economic dynamics. This recession was quite expected due to the long period of previous growth, the accumulation of global imbalances, especially in the financial markets. The cyclical nature of economic development objectively determines the change in the tools of state regulation for ensuring its stability. The challenges of the COVID-19 pandemic and the resulting large-scale economic constraints have significantly changed the target priorities of national and international economic policy [1, 2]. The dilemma of the priority of state support faced the countries of the European Union, is the characteristic for the individual states’ economic policy. The approach of opponents of a common European anti-crisis policy
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