Ukrainian enterprises internationalization: regulatory support and institutional regulation

Abstract

In a globalized economy and increasing linkages between national economies around the world, understanding of internationalization is the key to effective doing business in foreign markets. Theoretical researches of internationalization by Ukrainian scientists are at an early stage. Today remain the unexplored question of regulatory framework and institutional regulation of enterprises internationalization. The economic studies are not detected systematization of legislation Ukrainian enterprises internationalization. In foreign sources of these issues are not covered at all. The main purpose of this study is definition and systematization of regulatory support of Ukraine enterprises internationalization. A special task is research of institutional regulation of Ukrainian enterprises internationalization that provides building a promoting system their internationalization in the future. The theoretical bases of this article are researches of Ukrainian scientists in issues of internationalization and Ukraine legislation. In the article the regulatory support and institutional regulation of Ukrainian enterprises internationalization were investigated. The review and the characteristics of existing and developed (but not accepted) regulations acts were completed. These acts regulate Ukrainian enterprise activities on foreign markets. Characteristics of institutions at the state level promote the internationalization enterprises has been executed. Also, has been singled out their goals and objectives in this segment of activity. It should be noted that in Ukraine legal regulation of enterprises internationalization is applied only at specialized export products (depending on the type of economic activity, which internationalization promotion is a priority). Instead, Ukraine has no programs that would take into account the level of enterprises internationalization and / or time of entry into foreign markets and / or enterprises size. The exclusive formation programs for specific target groups of enterprises that would differ in terms of internationalization, will provide the appropriate level of individualization such programs and, therefore, will increase the effectiveness of theirs implementation. Institutional regulation of enterprises internationalization in Ukraine is sufficiently developed and, in our view, in terms of improvement of legal regulation of enterprises internationalization can ensure effective implementation of theirs provisions in the practical sphere. Established that must been taken into account the level of internationalization, enterprises size at legal regulation of Ukrainian enterprises internationalization. It is also necessary to be taken into account all forms of penetration and presence in foreign markets, which are used by enterprises to expand the areas of promotion internationalization. In further studies, it is important to identify barriers that prevent entry of Ukrainian enterprises on foreign markets and categories of measures that should be used to promote the Ukrainian enterprises internationalization. Досліджено нормативно-правове забезпечення та інституціональне регулювання інтернаціоналізації українських підприємств. Виконано огляд та наведено характеристику чинних та розроблених (але не прийнятих у дію) нормативно-правових актів, що регламентують діяльність українських підприємств на закордонних ринках. Наведено характеристику інституцій, що на державному рівні сприяють інтернаціоналізації підприємств, виокремлено їхні цілі і завдання у цьому сегменті діяльності. Визначено необхідність законодавчого врегулювання інтернаціоналізації українських підприємств з урахуванням рівня інтернаціоналізації та величини підприємств, розширення сфер сприяння інтернаціоналізації з виключно експорту до інших форм проникнення та присутності на закордонних ринках, що їх використовують підприємства.