PUBLIC REGULATION OF COOPERATION WITH INTERNATIONAL FINANCIAL ORGANIZATIONS: EXPERIENCE OF THE COUNTRIES OF EASTERN EUROPE

Abstract

The article analyzes the effectiveness of the activities of international financial organizations in the context of their cooperation with the countries of Eastern Europe. The article clarifies that financing by international financial organizations of the private sector of Eastern Europe creates preconditions for raising their economic and social efficiency and for creating not only collective but also social goods. The main goals of the Eastern European countries, financed by international financial organizations, are considered in detail.

It is proved that the financing of the private sector of the Eastern European countries of the EBRD creates the preconditions for raising their economic and social efficiency and for creating not only collective but also public goods. However, the implementation of these prerequisites depends on a sound economic policy of the country, the timely formation of a new institutional structure for the functioning of the public sector, etc. It is noted that for the effective provision of this area of cooperation with the EBRD to the countries of Eastern Europe it is necessary:

• facilitate the transition from the capital and labor-intensive export of industrial products to high-tech and innovative;
• to provide state aid for the formation of foreign capital by creating special zones of export production with a favorable tax regime;
• implement a planned approach to regulating the development of the national economy on the basis of optimization of the state procurement process, the formation of subsidies and other forms of state regulation of investment activity, etc.

It is noted that in general, the experience of cooperation of the countries of Eastern Europe with international financial organizations and for Ukraine is important. After all, in Ukraine there are a number of political factors that hinder the development of foreign investments due to the non-adaptation of domestic enterprises to the world market conditions of cooperation. In order to solve this problem, it is necessary to reorganize the structure of state management of industrial objects and to establish mechanisms for legislative regulation of this process.