Formation of the investment environment in Ukraine in the context of European integration: an example of Poland

Abstract

In the period of Ukraine’s integration into the European economic space, one of the basic conditions for achieving compliance with the European community requirements is the formation of favorable investment environment. In view of this, the aim of the article is to analyze the economic preconditions for the unification and adaptation of the investment mechanism in the period of Ukraine’s integration into the economic euro area, and to develop recommendations for unification of institutional support for the formation of the investment environment in Ukraine. In the course of the study, the system approach and the method of system analysis and synthesis are the basis. Based on the analysis of the activities in Poland, it is outlined that the conditions for their achievement of high rating indicators are the legally regulated mechanism for promoting investment, which includes relevant institutions, low tax rates, transparency and ease of doing business. The comparison made on this basis has made it possible to determine key differences and problems between approaches of European countries and Ukraine, namely: the lack of correspondence between the actual measures legally declared, the monetary unit instability, the unpredictability of the political and economic situation, the complexity of doing business. Approaches to unification of institutional support for the formation of the investment environment in Ukraine and measures aimed at increasing the efficiency and competitiveness of investment activity are proposed.

Improving customer relations in the banking sector of Ukraine through the development of priority digital banking products and services: Evidence from Poland

“…Given the problems that characterize the Ukrainian banking system (Dyba & Garnego, 2018;Ponomarenko et al, 2018b;Tretyakova et al, 2021), one of the factors that increase the efficiency and development of this system should be the optimization of using the available resource base of banks both at the level of a country's banking system and at the level of specific banks. Therefore, the proper interpretation of the results obtained in the paper and their use in practice involves structuring management activity in Ukrainian banks and its focus on developing interaction with customers primarily in the essential areas of digital activity.…”

Business environment of regions in Ukraine: Peculiarities of structural-institutional changes

“…The efficiency and transparency of the country's regulatory policy and the key problems accompanying the functioning of regulating environment are analyzed by Balcerowicz and Ustenko (2006), Chekh and Vinnyk (2017). Ponomarenko et al (2018) examine the quality of the regulatory environment in Ukraine in order to adapt it to European standards.…”

Evaluation of investment attractiveness of a region as a guarantee for leadership in the territorial socio-economic development

“…In view of this and in order to achieve high rating indices, the issue of regulation of legal and regulatory provision of investment activity at the legislative level, in particular through relevant institutions, low tax rate, transparency of business conduct, etc., becomes crucial. Thus, the lack of consistency between measures envisaged by law and real measures, an unstable monetary unit, an unpredictable political and economic situation, and the complexity of doing business, as revealed by the monitoring of Poland's investment attractiveness, made it possible to identify the main differences and problems of introduction of adapted mechanisms for attracting investment between the European countries and Ukraine (Ponomarenko et al 2018). Considering the East Asian model, important components of formation of investment climate of state/region include: weakening of currency; stimulation of domestic consumption and investment; provision of a relatively low level of domestic prices compared to prices in USA and among the leading Asian exporters of industrial products; harmonization of the country's legislation with WTO requirements, etc.…”