Halasiuk V. State regulation of national economy transformation

The thesis is a comprehensive study of theoretical, methodical and practical aspects on state regulation of national economy transformation to accelerate economic growth and to enhance the well-being. The study also substantiates feasibility of conducting such a transformation in Ukraine and estimates its potential macroeconomic outputs. The research identifies long-term social and economic trajectory of Ukraine, provides appropriate international comparisons and explains factors that determine the divergence. The economic dimension of Ukraine’s European integration and prospects for real income convergence in Ukraine and the EU have been evaluated. The study also defines and interprets economic specialization of Ukraine and the EU. A comprehensive set of criteria for assessment of the “quality” of different economic activities is suggested, considering economic, technological, environmental, and social aspects, and a hierarchy of economic activities types is elaborated based on them. The research provides analysis of changing the Ukrainian economic specialization and that of the neighboring countries with the modern concepts of product space and economic complexity. The mechanism of deliberate use of economic policy levers to transform the production structure of the economy in order to accelerate economic growth is explained. The principles for modernization of economic policy which will contribute to national economy transformation in the context of its specific levers are proposed. The thesis identifies major challenges for the Ukrainian economy which are considered to be barriers on its pathway to accelerating economic growth. GDP segmentation is performed and the author detaches factors within the framework of each component of the second level that can be used for deliberate acceleration of economic growth through carrying out the modernization economic policy. The components of the GDP are prioritized in the context of deliberate acceleration of economic growth. The study generalizes and systematizes organizational and practical aspects of approaches to state regulation of national economy transformation. The research depicts top target sectors and industries of the Ukrainian economy and substantiates recommendations on increasing the efficiency of Ukraine’s participation in global value chains. The priorities for development of Ukraine’s industrial capacity according to specific product groups are grounded. The study formulates recommendations on key tools and measures for state regulation of the national economy transformation in order to accelerate its economic growth and forecasts the potential macroeconomic outputs. The research determines and reviews the list of basic economic development tools (both regulatory and institutional) aimed at accelerating economic growth through efficient state regulation of the national economy transformation. The thesis proves the impact of economic development tools on the evolution of the economic structure, in particular on the dynamics of industrialization, which proves the need and confirms the possibility for deliberate acceleration of Ukraine’s economic growth through applying the set of tools of state regulation of the national economy transformation which is proposed in the research.