STRUCTURAL DEVELOPMENT OF ECONOMY: EVOLUTION OF THEORIES

Abstract

Relevance of this article is determined by the importance of search for new strategic development benchmarks for Ukraine in the context of signing the Association Agreement with EU, and by the struggle to cope with the consequences of the systemic socio-economic crisis, as well as with its military and political ramifications. The methodology laid out below rests on the pillars of both theory and practice. General scientific methods of research include the systemic approach as a tool to generalize the theories of structural development of economy, the dialectic approach, to review economic categories from the standpoint of evolvement, along with analysis and synthesis, to substantiate the definition of structural development of the national economy, and adaptation, to make economic theories applicable to the environment of reforms in the national economy, in view of the recent institutional changes taking place in Ukraine. Theoretical value of the findings lies in the generalization of theories on structural development of economy, such as the theory of economic dynamics, theory of global development system dynamics, theory of structural change, theory of postindustrial society and institutional theory. Practical value of the findings can be expressed in the following recommendations: to improve public sector capacity in terms of generating and implementing economic reforms; to import and implement European institutes; to attract foreign investments, in order to promote new economic structures; to protect property rights, and to react against informal institutes, primarily represented by corruption.