Special economic zones: key lessons learned from the global experience

Special economic zones are one of the oldest economic regulators which are widespread throughout the world. The study showed that zones can be an effective instrument to attract foreign investment, create new jobs, stimulate manufactured production, increase export revenues, promote structural transformation, and ultimately ensure country's economic development, but only when they are created in accordance with all the necessary conditions. This paper focuses on the study of various issues and opportunities that accompany the process of SEZs' creation by analyzing the conditions that lead to success or failure of implementation this instrument in practice. Attention was paid to Ukrainian experience of SEZs' establishing and to a question on why in Ukraine attempt to use this instrument of economic policy had proved unsuccessful and what needs to be done primarily to remedy this situation.