Свічкарь, В.А.

Dutch disease manifests itself in the deindustrialization of the economy that occurs when a nation possesses natural resources constituting a significant share in its exports. Its main limit is the growth of the national currency rate due to the improvement in the trade balance, which reduces the competitiveness of the manufacturing sector products. However, the symptoms of the Dutch disease may develop when the proportion of the mining sector in national exports grows at a relatively faster pace. In any case, an increase in the revenues from the export of natural resources contributes to raising the equilibrium exchange rate, thus limiting the competitiveness of the other commercial sectors of the economy. The study aims to identify the causes and economic effects of the Dutch disease for Ukraine's economy and develop proposals for improving the country's export oriented policy in the context of eliminating the negative effects caused by the fluctuations in the conditions on the world markets of natural resources. One of the key trends in the development of Ukraine’s economy in recent years is the priority development of the export oriented industries mainly the primary ones. Steel making remains a major export industry of Ukraine. Ukrainian exports of steel and other ferrous metals constitute approximately 30 % of the country’s exports and is a major source of foreign currency supply. This raises the issue of evaluating the effectiveness of such a development from the standpoint of the national economy as a whole. The raw materials orientation does not provide the acceleration of scientific, technical and socio-economic development. Thus, the problem of the Dutch disease (i.e. an almost complete lack of competitive products on the world markets of manufactured goods) is particularly acute for Ukraine, and, without having provided its solution, it is difficult to expect a rapid and sustainable economic growth in the long run. In such circumstances it is necessary to pursue the public policies aimed at redistribution of the income from raw materials exports for its investment in the manufacturing industry, as well as to increase funding and stimulating innovation in the economy, primarily pure science and innovation focused enterprises.

«голландська хвороба»

експорт

експортосировинна орієнтація

ресурсозалежні країни.

Dutch disease

export

deindustrialization

orientation towards raw materials

export nations dependent on natural resources