INTERNATIONAL CORPORATIONS AS AN ELEMENT OF THE DEVELOPMENT OF THE GLOBAL ECONOMY

Abstract

Today, international corporations are an important element in the development of the world economy and international economic relations. Corporations contribute to intensifying international competition and deepening the international division of labor. Modern corporations are increasingly influencing international economic relations and the world economy as a whole, becoming the most important economic entities in the world economic system. International corporations are characterized by the creation of international production, high intensity of trade between countries, independence in decision- making and interstate mobility. The current stage of development shows not only a high level of competition between corporations, but also the emergence of strategic alliances. The basis of the new global economic system are corporations that own significant financial resources, introduce advanced technologies, have large spatial sales markets and conduct an active, global investment policy. The key role of international corporations in international economic relations is explained by the fact that they are the engine of the world economy and the leading factor in international specialization and world trade. They are an important figure at the current stage of development of the world economy. Attracting foreign direct investment brings the country access to financial resources, namely, facilitates integration into global economic processes, access to foreign markets. The activities of corporations are quite extensive on the territory of Ukraine. Ukraine must use all the positive aspects of the activities of corporations and neutralize all the negative consequences, keep the emphasis on national priorities. International corporations mean a large association that uses an international approach, involves the development of international production and sales, with a central place of decision-making, and branches around the world. Corporations directly influence the economy in which they operate, accelerate the process of internalization and scientific and technical progress, and raise the social and material level of the population, which will provide an opportunity to purchase goods and services of international companies.