{"id":14312,"date":"2020-11-20T12:00:33","date_gmt":"2020-11-20T10:00:33","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=14312"},"modified":"2020-11-20T01:44:52","modified_gmt":"2020-11-19T23:44:52","slug":"foreign-economic-activity-and-its","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/foreign-economic-activity-and-its\/","title":{"rendered":"Burkovskaya A., Parakonnyi D. Foreign economic activity and its impact on the balance of payments of Ukraine"},"content":{"rendered":"

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JEL Classification<\/strong>: F10; G35<\/em>
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V23(2020)-03<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Burkovskaya Alla<\/strong>, Ph.D. (Economics), Associate Professor of Department of Finance, Banking and Insurance, Mykolaiv National Agrarian University, Ukraine.<\/p>\n

ORCID ID:<\/strong> 0000-0003-4158-1721<\/a>
\ne-mail:<\/strong> allaburkovskaya2010@gmail.com<\/a><\/p>\n

Parakonnyi Dmytro,<\/strong> Applicant for Higher Education, Management Mykolayiv National Agrarian University, Ukraine.<\/p>\n

ORCID ID:<\/strong> 0000-0003-2452-9411<\/a>
\ne-mail:<\/strong> dimaparakonnui@gmail.com<\/a><\/p>\n

 <\/p>\n

Foreign \u0415conomic \u0410ctivity and \u0406ts \u0406mpact on the \u0412alance of \u0420payments of Ukraine<\/h2>\n

 <\/p>\n

Abstract. Introduction.<\/strong> The payment balance is an indicator of the state and development of the national economy, systematically reflects the transactions between economic systems around the world, which allows us to assess the country’s participation in the international division of labor. It also plays an important role in the mechanism of currency regulation. Control of the payment balance in the context of implementing measures to eliminate imbalances in the economy, implementing a balanced foreign economic, monetary, exchange rate policy, establishing economically sound amounts of gold and foreign exchange reserves, developing adaptive mechanisms to attract external financing are extremely important. The problem and its solution should become the main direction of state policy of Ukraine.<\/p>\n

Purpose.<\/strong> The aim of this article is to study the impact of the real state of foreign economic activity on the payment balance of Ukraine and analysis of the reviewed impact indicators.<\/p>\n

Results.<\/strong> The article considers the concepts and individual indicators of the payment balance of Ukraine and shows the components of the payments balance. The main indicators of foreign trade, including the volumes of imports and exports and their dynamics, have been\u00a0 reviewed in detail. The current state of Ukrainian foreign economic activity in general has been analyzed. The concept of the payment balance has been indicated and the connection between the change in the payment balance depending on the change of certain indicators of Ukraine\u2019s foreign economic activity, which are closely interrelated, has been determined.<\/p>\n

Conclusions.<\/strong> The main factor that negatively affects Ukraine’s payment balance is the large balance of goods deficit. The strategy to reduce the payment balance deficit should include the following elements: taking the necessary measures to eliminate internal economic imbalances; to guarantee the provision of export credits to producers, insurance against economic and political risks, the introduction of a preferential depreciation regime for fixed assets and the provision of financial benefits and other loans in exchange for the fulfillment of specific obligations of the export program; use international legal standards to regulate the payments\u00a0 balance; regulation of expenditures and revenues of the state budget, the use of risk insurance instruments in the financial system; increase revenue and revenue rates to increase trademark patents, licenses, and references to scientists and technicians.<\/p>\n

Keywords<\/strong>: balance of payments, exports, imports, foreign trade, economic transactions.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Veriha, H. V. Balance of payments and exchange rates: the dialectic of the relationship. Biznes Inform<\/em>. 2013. \u2116 2. S. 231-235. URL: http:\/\/nbuv.gov.ua\/UJRN\/binf_2013_2_50 [in Ukrainian].<\/li>\n
  2. Kovalchuk, A.T. & Matios, A.V. Valiutni rezervy: problemy formuvannia, rozmishchennia ta vykorystannia. Ekonomichnyi chasopys \u0425\u0425<\/em> 2009. \u211611-12. S.13-16[in Ukrainian].<\/li>\n
  3. Kozak, L.S. & Fedoruk, O.V. Foreign exchange reserves: problems of formation, placement and use. Ekonomika ta upravlinnia na transporti.<\/em> 2016. Vyp. 2. S. 71\u201384 [in Ukrainian].<\/li>\n
  4. Muliakova-Bochi, A. K. Trends in the formation of the balance of payments in a crisis. Aktualni problemy ekonomiky<\/em>. 2012. \u2116 6.(132). S. 255\u2013261 [in Ukrainian].<\/li>\n
  5. Fausten Dietrich, K. Determinants of the balance of payments and exchange rates. International Economics, Finance and Trade<\/em>. I. 2009. Retrieved from: ttps:\/\/www.eolss.net\/Sample-Chapters\/C13\/E1-23-02-03.pdf [in English].<\/li>\n
  6. National Bank of Ukraine. Retrieved from: https:\/\/bank.gov.ua\/files\/ES\/State_q.pdf [in Ukrainian].<\/li>\n
  7. Site of statistics of Ukraine. Retrieved from: http:\/\/ukrstat.gov.ua\/imf\/meta\/BOP_Dissemin_notes-ukr1.html [in Ukrainian].<\/li>\n
  8. Ministry of Finance of Ukraine. Retrieved from: https:\/\/index.minfin.com.ua\/economy\/balance\/ [in Ukrainian].<\/li>\n
  9. About the National Bank of Ukraine with changes and additions : Zakon Ukrainy vid 20.05.1999 \u2116 679-XIV. Retrieved from: https:\/\/zakon.rada.gov.ua\/laws\/show\/679-14#Text [in Ukrainian].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 11 October 2020<\/p>\n

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    Burkovskaya A., Parakonnyi D. (2020). Foreign economic activity and its impact on the balance of payments of Ukraine. Modern Economics<\/em>, 23(2020), 20-25. DOI: https:\/\/doi.org\/10.31521\/modecon.V23(2020)-03.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: F10; G35 DOI: https:\/\/doi.org\/10.31521\/modecon.V23(2020)-03 [\/vc_column_text][vc_column_text] Burkovskaya Alla, Ph.D. (Economics), Associate Professor of Department of Finance, Banking and Insurance, Mykolaiv National Agrarian University, Ukraine. ORCID ID: 0000-0003-4158-1721 e-mail: allaburkovskaya2010@gmail.com Parakonnyi Dmytro, Applicant for Higher Education, Management Mykolayiv National Agrarian University, Ukraine. ORCID ID: 0000-0003-2452-9411 e-mail: dimaparakonnui@gmail.com   Foreign \u0415conomic \u0410ctivity and \u0406ts \u0406mpact
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