SOME ASPECTS OF THE DEVELOPMENT AND REALIZATION OF IMPORT SUBSTITUTION POLICY

Abstract

Taking into account the difficult economic and political situation in Ukraine, the necessity of building up domestic production potential and increasing the competitiveness of domestic products becomes of special urgency. This can be achieved through the implementation of import substitution policies in the regions of Ukraine. While most countries import products that they can not produce themselves, or products that are not profitable to make, a significant part of Ukrainian imports consists of goods that can be fully produced in the country with quality and prices comparable to foreign analogues. That is why the development and implementation of the measures of national and regional import substitution policies seems quite promising and a real direction of development of the national economy. It is determined in the article, that the indicative system of measures for the implementation of regional import substitution policy should be directed to such components as products, the market of products and raw materials, the structure of export-import operations, investment and innovation activity and the regulatory environment, as well as some aspects of the development and implementation of these programs and the prospects for the implementation of individual measures are substantiated. Considerable attention is paid to the necessity of introducing antimonopoly regulation measures, intensification of integration ties between economic entities, allowed restrictive export-import measures and legalization of shadow commodity flows. It is noted that one of the problems hindering the development of domestic production in Ukraine is the inconsistency of policies carried out by regional and state bodies, and, consequently, the uncertainty of business entities in the future of laws, programs, tax simplifications adopted today. Therefore, it is imperative to strengthen control and responsibility for the implementation and financing of the measures envisaged by the programs of socio-economic and sectoral development. Successful implementation of these measures is able to expand the domestic market, create new jobs and additional purchasing power in the country, increase GDP and tax revenues, develop export potential of the country, and, as a result, give a significant multiplier effect to the national economy.