Innovations in foreign trade management under pre-war neo protectionism conditions

Abstract

Methods. To study the risks of neo protectionism for Ukrainian exporters there has been used the following methods: analysis and synthesis, induction and deduction – to identify prerequisites for the formation of neo protectionism in the conditions of globalization. The statistical methods have been used to develop the model of the dependence of the export of products (goods and services) on the indirect methods of neo protectionism to test the hypothesis about the influence of indirect financial support on the stimulation of exports and the creation of new jobs by exporting enterprises. Results. This study offers recommendations for overcoming the risks of foreign economic activity, in particular the relocation of jobs, changes in trade and payment balances on the example of individual countries, as well as the use of discriminatory measures against exporting firms from Ukraine. It is demonstrated that before the war, Ukrainian firms that exported their products and services to foreign markets faced fierce competition for both customers and investments. As most of the world prioritizes trade liberalization, many so-called «developed countries» suffer from the social and political consequences of the global distribution of wealth and labor, which include the movement of jobs abroad and rising unemployment. It was revealed that more and more countries are applying neo-protectionism measures to protect local markets and strengthen the competitive positions of national businesses, so the management of Ukrainian firms should take these risks into account when developing their own foreign trade strategies. Novelty. The article summarizes the arguments and counter-arguments in the framework of the scientific debate on the problem of the revival of neo-protectionism and economic nationalism in the conditions of global economic integration and trade liberalization. Innovative recommendations for minimizing threats to Ukrainian exporting firms from the policy of neo-protectionism in the foreign markets of unfriendly countries in the post-war period are proposed. Practical value. The recommendations provide for reorientation from the markets of unfriendly countries with high non-commercial risks to the markets of partner countries and insurance of commercial risks under the contract using the mechanisms of Public JSC «Export Credit Agency of Ukraine» in the post-war period. The results of the research can be useful for Ukrainian exporting firms and government bodies that regulate the foreign economic activity of trade agents that export dual-use goods.