International Aspects of IT Business Development in Ukraine

Abstract

Results of a study of macroeconomic effects from foreign economic activities of IT business in Ukraine and its revealed development patterns are presented in the article. It was found that the domestic IT business gained the increasingly more features of the international business, which is very important in addressing the issues related with securing the advantages of doing IT business in Ukraine and building up the institutional framework required for it.
 The study revealed that the increased scopes of services in creating software design, data processing and databases, techniques, provided by the IT sector in Ukraine, had a considerable positive effect for the exports of external services and the overall trade balance of services in Ukraine. It could be achieved due to the adaptation of the Ukrainian IT sector, in particular its organizational forms, to the specifics of foreign economic activities. 
          The analysis laid the basis for elaborating recommendations for securing the advantages of doing IT business in Ukraine and building up the relevant institutional framework that would allow for effective utilization of the potentials available with the domestic IT business.