LESSONS OF THE MARKET TRANSFORMATION IN UKRAINE

Abstract

The article presents the analysis of the results of socio-economic transforma-tions in Ukraine’s economy for 25 years.
The reasons for failures of the market transformation in Ukraine are shown. It is emphasized that the market transformation started from the introduction of institu-tions and managerial practices, which were developed by the previous experience of market transformations and fixed at the “Washington consensus” in the economy. The detailed explanation of the inefficient interaction of the declared new institu-tions with the management structure and the traditions of management inherited from the past is given.
The article clarifies the factors that affected summarily the formation of the model of economy, which was composed in our society. The study of the acting economic model allows the author to answer two following important questions: First, how much is it stable and viable? Second, which are its potentialities and boundaries? The instability and the bounded possibilities of growth in the given model are explained by a number of reasons presented in the article. First of all, it is the gradual increase in fundamental reproductive disproportions between the norms of accumulations and savings, which led to the long-term period of stagnation.
The analysis of the experience of socio-economic transformations in Ukraine in 2014–2015 indicated the realization of the next round of the scenario of “shock ther-apy” given by the program of Memorandum signed by our state with IMF. It is shown that the attainment of a macroeconomic balance does not guarantee the eco-nomic growth. The necessity of the transition to a new economic policy of economic growth is substantiated. The question about its main element such as the strategic targeting is put. The objective necessity of the short-, middle- and long-term fore-castings as an important element of the economic policy in the country, which needs the overrunning growth is grounded. The main tasks that should be solved on each of the stages of a realization of the economic policy are proposed.