The Economic Paradigms of Power in Light of Problems of the Investment Attractiveness of the State

• Main Author: Moiseienko Olena M.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2019-06-01
• Series: Bìznes Inform
• Subjects: investment process; power; investment attractiveness of the State; economic paradigm
• Online Access: http://www.business-inform.net/export_pdf/business-inform-2019-6_0-pages-55_60.pdf
• ISSN: 2222-4459; 2311-116X

The article discusses the economic paradigms of power in light of problems of the investment attractiveness of the State. The author proposes the following set of measures, sanctioned by the State: deregulation of economic power, which implies increasing the level of economic freedom of investors and reducing unnecessary administrative functions of the State and consists in elaboration of specific economic rules; shifting the emphases from the control of the availability and correctness of paperwork on the current investment activities of investors to the control of the activity itself and the real behavior of investors in the market; creating mechanisms of responsibility of investors not only to the State, but above all, to other participants in investment processes: shareholders and depositors of financial institutions; strengthening the responsibility of investors should be accompanied by an increase in the responsibility of the State for violations of the rights of investment actors in the course of permissive and controlling functions; the maximum reducing of administrative barriers and replacing them with other ways of regulating investment processes meets with the necessity on the part of the State to reform the judicial system as the main way to resolve disputes, which would allow to set up a mechanism for the economic responsibility of market actors according to a private initiative, not a government initiative. The author concludes that the proposed measures would create a positive institutional investment environment in Ukraine, which could facilitate the activation of investment processes in the national economy. However, in our opinion, the task can be fulfilled only with the active participation of economic authorities in solving key economic issues, and so strengthening the role of the State in the economy will completely match the needs of the country’s modern development.