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COMPETITIVNESS OFGOODSAS A FACTOR OF EXTERNAL ECONOMIC SECURITY

Journal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 25)

Publication Date:

Authors : ; ;

Page : 71-78

Keywords : foreign trade; external economic security; openness; external balance of goods; competitiveness of goods;

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Abstract

The subject of the research: the impact of the goods competitiveness on the effectiveness of foreign economic activity. The aim of the research: to identify the impact of goods competitiveness on the external economic security. Methods applied: comparative analysis, synthesis, generalization, description, logical method. The results of the research: the experience of the countries’ accession to the WTO and EU has been generalized; it is revealed that trade liberalization in the countries with initially low goods competitiveness leads, as a rule, to the increase in the current account deficit and its ratio to the GDP, to the growth of external debt and GDP reduction. Area of application: the results of the analysis are recommended to be taken into account while making balanced decisions in the state foreign economic policy, including the aspect of integration of the country. Conclusions: the country's entry into the WTO or to the integration association contributes to the effective development of the external sector of the country’s economy in case the products of the country are competitive enough. The main driver of foreign trade growth of the country is the structural reforms aimed at improving the competitiveness of the country’s goods in the foreign markets, and not the fact itself of increasing the level of trade openness.

Last modified: 2016-06-30 18:26:23