The dissertation deals with the theoretical and methodological solution of the
scientific task regarding foreign direct investment (FDI) influences on the national
economic interests (NEI) realization and development of practical recommendations FDI
regulation in the context of NEI realization.
A thesis contains a meaningful concept and categorical basis for the FDI research in
terms of the security-oriented approach as a theoretical basis for improving the FDI
regulation system in the context of NEI implementation. The FDI influence structure of
the recipient country NEI's components (industrial, technological, financial, social,
ecological and foreign economic) has been determined by identifying potential benefits
and possible risks. From the point of view of a security-oriented approach, this gave an
opportunity to offer some tools of FDI institutional and legal regulation, which are aimed
at strengthening the FDI's positive impact and overcoming/minimizing the negative
externalities caused by foreign investors in Ukraine. A methodological approach regarding
the assessment of the FDI impacts on the economic security through the application of
contour analysis have been formalized – the channels of the interconnection of FDI with
the system-forming components of economic security (macroeconomic, industrial, energy,
foreign economic, technological, ecological, investment, food, social, financial,
demographic) have been formed.
The foreign experience of FDI regulation from the point of NEI protection view has
been researched. Especially, the experience of FDI regulation in the context of NEI's
implementation by Visegrad Group countries has been analyzed in detail, namely: forms
and instruments of promotion and facilitation in terms of attracting and effectively
directing FDI, as well as directions (tools) of NEI protection from foreign investors'
negative activities. A comprehensive analysis – quantitative and qualitative – of foreign
direct investment in Ukraine was held: (1) the periods of FDI inflows, their main trends,
FDI regulation features have been considered; (2) the factors and conditions of influence
on the investment process in Ukraine have been determined; (3) the essential
characteristics of foreign direct investment have been revealed through consideration of
the dynamics and structure of FDI inflows by regional, sectoral and geographical
distribution. The methodological approach to assessing the effectiveness of FDI in the
system of economic security indicators has been improved, which has been characterized
by the use of a number of indicators (determination of threshold and optimal values of
indicators, their weights) and the appropriate methodology for calculating the integrated
index.
The priorities of the FDI functioning regulation have been substantiated and
scientific and practical recommendations were formed, that characterized by
comprehensive presentation in the general dimension and individual mechanisms and tools
that (1) encourage (in the manner prescribed by law, providing investment incentives), (2)
stimulate (in the way of simplifying the entry of foreign investors into the Ukrainian
market and conducting business, removing burdensome legal barriers, unimpeded receipt
of the necessary information to start investing, etc.) and (3) protect (in the way of
controlling FDI flows and eliminating opportunities for abuse by foreign investors). The
priorities of FDI regulation presented through a set of basic mechanisms – organizational
and legal, institutional, informational, territorial and organizational, fiscal – and tools for
FDI stimulation from the standpoint of Ukraine`s NEI implementation have been
substantiated. According to the expert survey, the list of risks for the investor (economic
and non-economic nature) and economy related to the investment activities
implementation (provided the activities of foreign direct investors) accompanied by a
holistic view on the following grounds: a source of the risk occurrence, the probability of
risk, the degree of its danger. Based on expert survey, a risk management system for
Ukraine and investors in the context of ensuring the economic interests of the parties has
been formed.
