Global Risks of Trade and Economic Cooperation of Ukraine With Countries of the Northern American Region
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Date
2019
Journal Title
Journal ISSN
Volume Title
Publisher
Economic Laboratory for Transition Research, Podgorica, Montenegro
Abstract
As a result of the study, it was determined that global challenges
and risks hinder the development of trade and economic cooperation between countries. For Ukraine, which has been influenced by
(я бы на писала which has faced geopolitical challenges) geopolitical challenges, the development of partnership with the countries of
North America, recognized global economy leaders, is essential in
terms of realizing national interests and defending state sovereignty. From the ability of Ukraine to anticipate and minimize the effects
of negative exogenous, through methods of economic diplomacy,
and especially endogenous factors, to isolate their components and
identify trends, turning the challenges into opportunities, will depend on the country's economic growth and increased efficiency of
trade and economic cooperation. The purpose of the article is to
assess the impact of global risks on the formation and implementation of trade and economic cooperation between Ukraine and the
countries of North America on the basis of methodological approaches of leading international economic institutions and organizations. Critical for its possible consequences for Ukraine is the
protectionist US global policy, cyberattacks, disinvestment of capital
due to political instability, multi-directional integration intentions
and steps, changes in global flows of goods and capital. The methods of scientific research that were used to achieve the goal and to
solve the tasks of the article are the following: systematic structural
analysis of economic processes and phenomena, method of quantitative and qualitative comparisons, table method of calculating the
degree of risks influence. The scientific novelty of the results obtained is the study of the implementation of Ukraine's trade policy in
relation to the countries of North America in the context of the need
for its adjustment in view of the vulnerability to the influence of
factors exogenous in nature. These exogenous factors are characterized by their division into global challenges and risks. The issue
that was also covered in the study is which of the parties to trade cooperation will be more affected by external factors. It is substantiated that the fall in prices for food and metallurgical products, the
appreciation of the dollar, which stimulates the growth of imports of
North American countries, the inter-state conflict in eastern Ukraine
have less impact on cooperation with the countries of North America
than changes in the structure of the World economy, the initiative of
the president of the United States "to turn back" business and production from abroad to the country and inconsistency of the current
structure of industrial production in Ukraine with modern requirements of technological multifacetedness.
Description
Keywords
Trade and economic cooperation, trade policy, exogenous factors of influence, endogenous factors of influence, global challenges, global risks
Citation
Global Risks of Trade and Economic Cooperation of Ukraine With Countries of the Northern American Region / Olha Yatsenko, Vitalii Nitsenko, Abbas Mardani [et al.] // Montenegrin Journal of Economics. – 2019. – Vol. 15, № 3. – P. 217–225.