Abstract
An undoubted advantage of the diversified economies is their less sensitivity to dynamics fluctuations of local sectors and shock destructions. A downturn in one industry can be compensated by growth in another. Formed in Soviet times significant industrial potential of Ukraine was not possible to implement only in the national economy. A significant part of Ukrainian manufacturing and extractive industries products was consumed by foreign consumers. Formed absolute and relative advantage in international trade ensured the enrichment of a limited set of stakeholders and have become the drivers of system economic crisis and the loss of Ukraine's ability to adsorb (to leap back) shock disturbance. The results of the analysis indicate the negative impact of resources specificity on the Ukraine's ability to ensure sustainable development. Proved the validity of conclusions about the negative effects of high exports concentration (low commodity diversification) on the economy's response from shock disturbances.
Highlights
An undoubted advantage of the diversified economies is their less sensitivity to dynamics fluctuations of local sectors and shock destructions
The results of the analysis indicate the negative impact of resources specificity on the Ukraine's ability to ensure sustainable development
The absolute and relative advantages in international trade formed in this way provided enrichment of a limited group of stakeholders, and at the same time became the drivers of the systemic economic crisis and Ukraine's loss of the ability to adsorb to shock disturbances
Summary
An undoubted advantage of the diversified economies is their less sensitivity to dynamics fluctuations of local sectors and shock destructions. 414 there have been significant structural changes in export flows The factors of these shifts were the lack of investments directed to the modernization of the industrial complex, rent-oriented behavior of oligarchic structures, offshore business organization. The absolute and relative advantages in international trade formed in this way provided enrichment of a limited group of stakeholders, and at the same time became the drivers of the systemic economic crisis and Ukraine's loss of the ability to adsorb (resilience respond) to shock disturbances. Structural shifts in export flows are one of the key determinants of resiliency in response to shocks in both the national economy and the region. To evolve new paradigm, which includes a holistic, systems perspective it is necessary to accentuate: the problem of resilience of social and economic systems, as a reaction to internal and external disturbances in order to maintain its functionality and integrity, remains without attention of researchers
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