INFLUENCE OF GLOBALIZATION PROCESSES ON INVESTMENT ATTRACTIVENESS OF REGIONS AS A COMPONENT OF UKRAINE’S ECONOMIC SECURITY

Abstract

In the context of globalization and dynamic integration processes, the problem of the development of the competitiveness of state remains one of the conditions for its successful functioning on the international scene. At the present stage, the level of technological development and innovative potential of the country, which shape its competitiveness, is becoming increasingly significant. Despite European integration processes, an increase in exports and an increase in the IT sector's share in GDP, Ukraine loses its position in competitiveness ratings. Therefore, the purpose of this article is to investigate the factors that shape the competitiveness of Ukraine in the world economic space. Accordingly, a review of recent studies was conducted to clarify the interpretation of the category of competitiveness of state, and a profound analysis of factors that affect competitiveness of Ukraine using factor analysis of the Global Competitiveness Index was made. As a result of the analysis, the interpretation of the competitiveness of state was expanded by identifying the importance of human capital in its formation. On the basis of the conducted factor analysis of the Global Competitiveness Index of Ukraine in 2014-2018, significant human capital and innovative potential have been identified, what created the basis for the further investigation of these factors using the Global Innovation Index by a similar method and for the same period. The analysis showed that the innovative results of Ukraine are more efficient than innovative resources. In view of this, it was proposed to ensure the implementation of the results of the innovation process to the development of innovative resources, in particular for development of infrastructure and experience in business and in the market, what will increase the level of innovation of the country's economy and living standards of the population in future. In addition, it was established that the management of the implementation of innovative results for the development of Ukraine's competitiveness should take place at all its stages through a functional approach within the framework of the state program of development of the competitiveness of state on an innovative basis.