WORLD EXPERIENCE IN ECONOMIC DEVELOPMENT STIMULATION AND POVERTY OVERCOMING

Abstract

The article reveals the global experience of ensuring the successful development of the economies in different countries and the overcoming of poverty. It is shown that the economic lag of Ukraine is due to the ineffective use by the legislative and executive bodies of the country of the powers granted to them to organize the activities of domestic business entities in market conditions. It has been substantiated that Ukraine, abandoning the administratively-planned economy and starting the development of the market fundamentals of the economy, did not take into account the recommendations of world-famous economists on managing economies of countries developed in the twentieth century, which led to the loss of domestic industrial potential and impoverishment of a significant part of the population. It is revealed that it is advisable for Ukraine to study the experience of other countries in stimulating economic development and overcoming poverty and using their best achievements to improve domestic economic policies. The economic policy of the countries after the Second World War, Southeast Asia, Latin America, China, Turkey and Eastern Europe is investigated. It is shown that countries have achieved economic success by stimulating research, exporting activities, cheapening loans, insuring exporters of risks, attracting investments and introducing priority programs. The authors propose measures to ensure the development of the national economy, which include the stabilization of the domestic financial system, the creation of a favorable environment for attracting investment, development of depressed regions, private initiatives, small and medium businesses, support for scientific and research institutions, cheapening of the loans and introduction of the state risk insurance of the plants.