Structural imbalances of the development of the investment process
Novak I., Candidate of Economics Sciences, , Uman National University of Horticulture, Ukraine
Issue number 90. Part 2
The experience in innovation-oriented investment in the world and its main areas caused by peculiarities specific to certain countries are studied. The lack of the appropriate level of investments in Ukraine which hinders the economic growth of the country is noted. Investment sources and areas of the national economy are analyzed. Imbalance in the distribution of investment capital which negatively affects the effective functioning of the production chain is specified on. It is found that the main source of capital investments is funds of domestic investors. Thus, the domestic market of investment resources is disorganized and atomistic and the activity of investors is not enough coordinated and ineffective. As a result, in the country there is a low level of technological equipment of domestic enterprises, as well as the actual failure of the government program of the economic development based on innovations.
The problem that caused this situation is the unformed investment strategy that was to be focused on the development of innovative technologies with well-developed areas, activities and specified results. The unfavorable investment climate was marked by increase in the export of capital of domestic investors from Ukraine for 2010-2014. It is found that when Ukraine lacks funds for innovative projects and renewal of fixed assets of domestic enterprises, 85.5% of the capital is exported to the development of these areas abroad.
The way out is to develop the investment strategy of the country and areas that will regulate the capital misallocation. It will be based on the intensive development through innovative technologies.