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Journal: Herald of Kyiv National University of Trade and Economics (Vol.93, No. 1)

Publication Date:

Authors : ;

Page : 115-126

Keywords : economic cycles; capitalism; development model; development; market economy; world-system.;

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Background. The work is devoted to the problem of determining the development model of Ukraine. Possibility of the use of the approach offered by G. Arrighi to periodization of crises of the capitalist world-system and the forecast of its evolution as a reason to develop a strategy for the development of the national economy, most adequately corresponding to the objective realities of the development of the world economy are studied. Review of scientific sources. The study is based on the works of A. Aslund, J. Drahokoupil, M. Albert, comparing models of transformation and posttransformaction economies, models of market and of the Rhineland capitalism; works of the adherents of the concept of "varieties of capitalism" (P. Hall, D. Soskice), regulation theory (R. Boyer) which are dealing with modern model of capitalism; the historical school "Annals" (F. Braudel), K. Polanyi, W. Sombart, world-system analysis (G. Arrighi), which are exploring the formation and evolution of capitalism. Methodological basis for delineating patterns of growth and development can be found in the works of A. Smith, K. Marx, J. Schumpeter. Results. Based on the approach offered by G. Arrighi to understanding the roots, causes and the prospects of the global financial crisis directions of Center of the capitalist world-system shift are revealed. The prerequisites for the formation of the "Smith's" non-capitalist models of market growth and capitalist unnatural development are presented. The shift from physical to financial phase of system cycle of accumulation and enter the center of the capitalist world-system (United States) in its final, the financial phase of cycle, as a prerequisite shift in East Asia Center of the capitalist world-system are showed. The contradictions are revealed. The influences of these changes on the selection of an effective model for the development of Ukraine are presented. Conclusion. Differentiation of patterns of economic evolution of the countries of the East Asia and West allows for a new look at the causes of periodic global financial crisis and prospects of overcoming them. It allows a new approach, in line with global trends and national specific, to determine the development model of Ukraine's economy. Researchers must take into consideration institutional arrangements for such a transition.

Last modified: 2016-10-26 21:23:22