The role of joint stock companies in the structural change of Ukraine’s economy

Abstract

Motivation: The corporate sector occupies a special place in the country’s economy and international economic relations. Large joint stock companies (JSCs) are the basis of the country’s economic potential, as they largely form the budgets of individual communities and the state, provide jobs, create networks of connections with small and medium-sized businesses, etc. The study of the relationship between the corporatization of enterprises and structural changes in the economy of Ukraine will allow to determine the socio-economic effect of the activities of JSCs.Aim: The research aimed to identify the socio-economic effect of the development of the corporate sector in the economy of Ukraine and justification of the expediency of government regulation of foreign economic activity of JSCs.Results: The study’s results show a capital accumulation and the dominance of JSCs in low-tech and raw-material sectors. The authors’ findings established that the corporatization process included the transformation of state assets into JSCs and the creation of new financial and industrial conglomerates, mainly in the mining industry and the production of agricultural raw materials. Comparison and generalization of statistical data are carried out as to the nature of foreign economic activities of JSCs. The study identifies a change in the distribution of commodity items towards increase in the share of agricultural raw materials and a tendency towards the reduction of technological chains. It is concluded about descending structural changes and reduction of the technological level of exports.