Import substitution potential in the conditions of digital transformation

Abstract

The monograph examines the current problems of state policy of import substitution in the current conditions of the post-industrial economy. The essence and generalized theoretical approaches to the genesis of theories of import regulation in open economies have been revealed, the tools of state regulation in import substitution policy have been systematized and the content of the modern concept of neo-industrial import substitution has been characterized with a definition of institutional obstacles to its development. The preconditions for the implementation of import substitution policy in key sectors of the Ukrainian economy have been studied. The current state of Ukraine's foreign trade has been analyzed and key problems of balancing the foreign trade balance have been identified. The causes and consequences of the growing import dependence of the domestic economy have been established. Considerable attention is paid to the areas of realization of import substitution potential in the context of building a national innovation system. The role of for- eign direct investment in ensuring structural transformations in the economy of Ukraine has been studied and the factors of deterioration of the investment climate in Ukraine have been determined. Based on the systematization of international experience, the risks and problems of neo-industrial development of countries that can affect the implementation of their import substitution strategies have been identified.