THE ESSENCE AND CONTENT OF THE ECONOMIC POLICY FOR THE DEVELOPMENT OF METALLURGY

Abstract

It has been established that the most frequent use of the term "economic policy of metallurgy development" is reduced to its functional meaning – maintaining or increasing competitiveness and target performance indicators. It was determined that today there are a large number of different approaches to the interpretation of the concept of "economic policy for the development of metallurgy". It is considered as an economic category, a system of measures and tools, a set of staged actions, etc. The target priorities of the implementation of the economic policy of the development of metallurgy also differ. It is noted that in Ukrainian science, the main emphasis is on ensuring the competitiveness of the development of metallurgy, while foreign authors highlight the achievement of sustainable functioning and development of economic systems, the minimization of negative structural changes at the level of metallurgy, and the rational use of resource opportunities as target priorities. According to the definition of the United Nations Industrial Development Organization (UNIDO), the economic policy of the development of metallurgy is, first of all, a set of government measures aimed at stabilizing and improving business conditions in order to ensure sustainable economic growth and increase public welfare. The World Bank, on the contrary, emphasizes not the growth of the welfare of society, but the intensification of the growth of productivity indicators. It has been proven that there are two main models of economic policy for the development of metallurgy: "vertical" and "horizontal". The first of them is considered the toughest. It is focused on the use of preferential lending tools, the provision of subsidies and tax benefits. Vertical policy is characterized by foreign trade protectionism in relation to individual industries. As for the horizontal model, it can be called softer. Its main goal is to ensure the necessary conditions (institutional, economic, etc.) to support the competitiveness of the private business sector. Despite the differences in approaches and models, a single goal of the economic policy of metallurgy development has been determined, which consists in ensuring stable long-term growth and development of metallurgy, maintaining a high level of competitiveness of the national economy and achieving priority goals within the framework of the country's economic security.