Investigating Social and Economic Components of Strategic Business Development Conditions in an Information Economy: A Case of Ukraine

Abstract

The present time is characterized by constant economic, social and cultural, political changes that cover the whole world. In the conditions of globalization there are cardinal shifts in the sphere of international relations and international business, characterized by transformational, modernizing changes, and have a direct impact on the development of economies around the world, including Ukraine. Globalization has also contributed to the formation of a new era - the era of information society. By the transition to the information society, the level of social and economic development is related to the access to information resources. A new economic sector is being created, where intellectual, social and investment capital place an increased role. The aim of the study is to assess the relationship between FDI attraction in Ukraine and its main macroeconomic indicators in the context of socio-economic development of business and globalization. The novelty is the substantiation of the directions of attraction of investments in the economy of Ukraine. The study is based on the analyzed macroeconomic indicators for the period 1998–2018, which made it possible to select those that have the greatest impact on FDI. The method of modeling economic processes is used to identify the effect of global influence on attracting foreign investment as a socio-economic component of strategic business development in the economy of Ukraine. The results of the simulation showed: achieving a high level of dynamics of FDI attraction in Ukraine in recent years; the existence of a strong link between FDI and foreign trade.