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1Institute for Economics and Forecasting, NAS of Ukraine
Localization of production – a world practice and conclusions for Ukraine
| Ekon. prognozuvannâ 2017; 2:31-56 | https://doi.org/10.15407/eip2017.02.031 |
ABSTRACT ▼
Despite the prevalence of localization measures in the practice of countries with different levels of development, localization requirements in Ukraine are still rare. Meanwhile, the dependence of Ukrainian economy on imports increases and acquires threatening dimensions. The expansion of imports begets weakening of country's economic stability, nourishes the structural crisis, impedes the development of industry, and causes a situation where imports suppress production instead of complementing it.
These problems represent the focus of the present study, which deals with theoretical and practical aspects of production localization. The study aims at determining the essence and forms of the requirements for localization, generalizing the world experience in applying such requirements with identifying their effectiveness, analyzing the specificity of such requirements in individual sectors of economy, and substantiating the economic necessity of their use in Ukraine.
The estimation of the import dependence of Ukrainian economy and, in particular, its industrial sector, based on data of the input-output tables allows detecting an excessive level of import dependence of Ukrainian economy and industry. It is proved that the proportions in which imports are involved in the economic processes are extraordinary, and hence a corresponding regulation with the application of systemic measures for production localization is required. The author identifies the areas of desirable application of the localization requirements for those industries that are critically dependent on imports by intermediate consumption, final consumption and gross capital formation, as well as various promising types of production with a solid scientific and innovation base.
Keywords: localization of production, foreign direct investments, import dependence of economy, value chain, WTO rules, industrial policy
JEL: D 570, Е 220, E 230, F 210, L 500, O 140, O
| Article in Ukrainian (pp. 31 - 56) | Download | Downloads :790 |
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49. Oberhänsli, Herbert. (2015). Regulatory Competition in Globalising Markets for Improved Conditions for Private Investment. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
50. Joubin-Bret, Anna, Chiffelle Cristian Rodriguez (2017). G20 Guiding Principles for Global Investment Policymaking: A Stepping Stone for Multilateral Rules on Investment. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
51. Maskus, Keith E. (2015). Research and Development Subsidies: A Need for WTO Disci-plines? Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
52. Singh, Harsha V. (2016). New Industrial Policy and Manufacturing: Options for Internation-al Trade Policy. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
53. Lee, Keun. (2015). Industrial Policies for the Upper-Middle-Income Countries. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
54. Meléndez-Ortiz, Ricardo. (2016). Enabling the Energy Transition and Scale-up of Clean Energy Technologies: Options for the Global Trade System. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
55. Viñuales, Jorge E. (2015). International Investment Law and Natural Resource Governance. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
56. Deineko, L.V., Shovkun, I.A., Sheludko, E.I. etc. (2016). Neoindustrial transformation of industrial potential of Ukraine. NAS of Ukraine, Institute for Economics and Forecasting NAS of Ukraine. Kyiv. Retrieved from ief.org.ua/docs/mg/277.pdf (Last accessed: 21.04.2017) [in Ukrainian].
57. Shovkun, Inna (1 April, 2017). Industrial revival of Ukraine: the price of the issue. Zerkalo nedely.Ukrayna – Mirror of the week. Retrieved from dt.ua/promyshliennost/promislove-vidrodzhennya-ukrayini-cina-pitannya-_.html (Last accessed: 21.04.2017) [in Ukrainian].
58. State Statistics Committee of Ukraine. (2016). Table " input-output" of Ukraine in 2014 at basic prices. Kyiv. Retrieved from www.ukrstat.gov.ua (Last accessed: 21.04.2017) [in Ukrainian].
59. The question of import substitution in the Russian economy. (2016). Moscow: Institute of Economics, Russian Academy of Sciences. Retrieved from inecon.org (Last accessed: 21.04.2017) [in Russian].
60. Berezinskaya, O., Vedev, A. (2015). Production dependence of the Russian industry on imports and the mechanism of strategic import substitution. Questions of Economics, 1, 103-115 [in Russian].
61. Blockade of the SRDLR: Myths and Means. (02 September, 2017). Liga.Net. Retrieved from www.liga.net (Last accessed: 21.04.2017) [in Russian].
62. Skrypnychenko M.I. (Ed.). (2015). Models of Identification of Macroeconomic Imbalances in Ukraine. NAS of Ukraine, Institute for Economics and Forecasting, NAS of Ukraine. Kyiv [in Ukrainian].
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2. Investor nationality: Policy challenges. World investment report 2016 (2016). Geneva: UNCTAD - United Nations. Retrieved from worldinvestmentreport.org (Last accessed: 21.04.2017).
3. Hufbauer, Gary Clyde, Schott, Jeffrey J., Cimino-Isaacs, Cathleen, Vieiro, Martin, and Wa-da, Erika. (2013). Local Content Requirements: A Global Problem. Washington: Peterson Insti-tute for International Economics. Retrieved from piie.com (Last accessed: 21.04.2017).
4. Stephenson, Sherry M. (2013). Addressing local content requirements: Current challenges and future opportunities. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
5. Lin, Justin Yifu. (2015). China's G-20 agenda: Call for a multilateral investment framework for development. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
6. Ramdoo, Isabelle. (2015). Unpacking Local Content Requirements in the Extractive Sector: What Implications for the Global Trade and Investment Frameworks? Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
7. Bellmann, Christophe. (2016). Trade and Investment Frameworks in Extractive Industries: Challenges and Options. Geneva: ICTSD & WEF, 2016. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
8. Hoekman, Bernard. (2015). Subsidies and Spillovers in a Value Chain World: New Rules Required? Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
9. Molinari, Alvaro Cedeño. (2016). Investment and trade policy as drivers of sustainable development. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
10. Shinkaruk, L.V. (Ed.). (2012). World Economic Disproportionality: Peculiarities, Trends, Influence on the Economy of Ukraine. National Academy of Sciences of Ukraine, Institute for economics and forecasting. NAS of Ukraine. Kyiv [in Ukrainian].
11. Ilyushha, S.N., Gerasimova, O.A. (2012). Estimation of import dynamics under long-term forecasting of macroindicators. Ekon. prognozuvannâ –Economics and Forecasting, 1, 65-74 [in Ukrainian].
12. State Statistics Committee of Ukraine. (2016). Table "input-output" (in consumer prices). Kyiv. Retrieved from www.ukrstat.gov.ua (Last accessed: 21.04.2017) [in Ukrainian].
13. Korablin, S. (April 8, 2017). Currency liberalization in Ukrainian: escape from reforms. Zerkalo nedely.Ukrayna – Mirror of the week, 13. Retrieved from URL: gazeta.dt.ua (Last accessed: 21.04.2017) [in Ukrainian].
14. Olefir, V.K. (2016). Assessment of import dependence of the Ukrainian food market. Ekon. prognozuvannâ – Economics and Forecasting, 4, 91-105 [in Ukrainian].
15. Mel'nik, T.M., Pugachevskaya, K.S. (2016). Import dependence of Ukraine's economy and priorities of selective import substitution. Ekonomika Ukrainy – Economy of Ukraine, 4, 29-44 [in Ukrainian].
16. Shinkaruk, L.V. (Ed.). (2015). Structural Transformations in the Ukrainian Economy: Dynamics, Contradictions and Influence on Economic Development. NAS of Ukraine, Institute of Economics. and Forecasting NAS of Ukraine. Kyiv [in Ukrainian].
17. Weiss, Miriam. (2016). The role of local content policies in manufacturing and mining in low- and middle-income countries. UNIDO: Department of Policy, Research and Statistics Working Paper, 19. Retrieved from www.unido.org (Last accessed: 01.06.2017).
18. Ramdoo, Isabelle. (May 2016). Local content policies in mineral-rich countries. An overview. Discussion Paper, 193. Retrieved from www.ecdpm.org/dp193 (Last accessed: 01.06.2017).
19. American Recovery and Reinvestment Act of 2009. (2009). U.S. Government Publishing Office. Retrieved from www.gpo.gov/fdsys/pkg/BILLS-111hr1enr/pdf/BILLS-111hr1enr.pdf (Last accessed: 21.04.2017).
20. The Ministry of Economy of Uzbekistan presented the results and prospects for localization of production. (30 September, 2015). Review.uz. Retrieved from www.review.uz (Last accessed: 21.04.2017) [in Russian].
21. How to get into the localization program. (15 March, 2017). Review.uz. Retrieved from www.review.uz (Last accessed: 21.04.2017) [in Russian].
22. The Government of Uzbekistan increases the requirements for the obligations of foreign investors. (10 October, 2016). Review.uz. Retrieved from www.review.uz (Last accessed: 21.04.2017) [in Russian].
23. The Ministry of Economy and the Ministry of Foreign Economic Relations of Uzbekistan have formed a list of new types of localized products. (17 June, 2016). Review.uz. Retrieved from www.review.uz (Last accessed: 21.04.2017) [in Russian].
24. Ministry of Economy: in 2015, for 696 projects, the volume of production of localized products amounted to 4 trillion Sum. (25 February, 2016). Review.uz. Retrieved from www.review.uz (Last accessed: 21.04.2017) [in Russian].
25. Import - for replacement. (2017). Information digest, 202. Retrieved from www.uzbekistan.de (Last accessed: 21.04.2017) [in Russian].
26. Uzbekistan's industrial products are import substituting over 20%. (10 June, 2016). Econo-my. Retrieved from en.sputniknews-uz.com (Last accessed: 21.04.2017) [in Russian].
27. Uzbekistan will bring home appliances to 55% by 2019. (22 June, 2016). Economy. Re-trieved from en.sputniknews-uz.com (Last accessed: 21.04.2017) [in Russian].
28. Ministry of Economy of the Republic of Uzbekistan. (2016). Regulatory and legal frame-work. Retrieved from mineconomy.uz/en/local 05/31/2017 (Last accessed: 25.05.2017) [in Russian].
29. Ministry of Economy of the Republic of Uzbekistan. (2017). Localization programs. Re-trieved from mineconomy.uz/en/local 05/31/2017 (Last accessed: 25.05.2017) [in Rus-sian].
30. WTO (2016). Uzbekistan. Retrieved from www.wto.org/english/thewto_e/acc_e/a1_ouzbekistan_e.htm (Last accessed: 25.05.2017).
31. Industry, value added (current US$). (2016). World Development Indicators. Retrieved from data.worldbank.org/indicator (Last accessed: 01.06.2017).
32. Foreign direct investment, net inflows (BoP, current US$). (2016). World Development Indicators. Retrieved from data.worldbank.org/indicator (Last accessed: 01.06.2017).
33. GDP per capita (current US$). (2016). World Development Indicators. Retrieved from data.worldbank.org/indicator (Last accessed: 01.06.2017).
34. Kuntze, Jan-Christoph, Moerenhout, Tom (May, 2013). Local Content Requirements and the Renewable Energy Industry - A Good Match? ICTSD. Retrieved from www.ictsd.org (Last accessed: 25.05.2017).
35. Years of Policies for Wind Energy: Lessons from China. (2016). International Renewable Energy Agency. Retrieved from www.irena.org/DocumentDownloads/Publications/GWEC_China.pdf (Last accessed: 31.05.2017).
36. CISOLAR-2016. (27 April, 2016). EcoTecnik. Retrieved from ecotechnica.com.ua (Last accessed: 25.05.2017) [in Russian].
37. Ukrainian Wind Energy Association. (23 February, 2017). Technical and legal aspects of the implementation of wind energy projects in Ukraine. Retrieved from uwea.com.ua/en/news/entry/ (Last accessed: 25/05/2017) [in Ukrainian].
38. BRAZIL - Overview of medical device industry and healthcare statistics. (2017). EMERGO. Retrieved from www.emergogroup.com/resources/market-brazil (Last accessed: 25.05.2017).
39. Hummel, Guilherme S. (November, 2016). Brazil eHealth - Overview, Trends & Opportunities. Summary-report. EMI – eHealth Mentor Institut.
40. Nigerian Oil and Gas Industry Content Development Act, 2010. (2010). Tax, regulatory & people services. Retrieved from www.ng.kpmg.com (Last accessed: 25.05.2017).
41. Atsegbua Lawrence Asekome. (December, 2012). The Nigerian Oil and Gas Industry Con-tent Development Act 2010: an examination of its regulatory framework OPEC Energy Review, 36:4, 479-494. Retrieved from onlinelibrary.wiley.com/wol1/doi/10.1111/j.1753-0237.2012.00225.x/full (Last accessed: 25.05.2017).
42. GDP (current US$). (2016). World Development Indicators. Retrieved from data.worldbank.org/indicator (Last accessed: 01.06.2017).
43. Merchandise exports (current US$). (2016). World Development Indicators. Retrieved from data.worldbank.org/ (Last accessed: 01.06.2017).
44. General Agreement on Tariffs and Trade 1994. WTO Analytical Index: GATT 1994. Re-trieved from www.wto.org (Last accessed: 21.04.2017).
45. WTO Agreement on Trade-Related Investment Measures (TRIMs). WTO Analytical Index: Investment. Retrieved from search.wto.org (Last accessed: 21.04.2017).
46. Trade And Investment. WTO: 2011 News Items. Retrieved from search.wto.org (Last accessed: 21.04.2017).
47. Decree on the Cancellation of Local Content Requirements set out in Previous Legislations. No. 154/PM, date: 05/03/2012. WTO Documents Online - World Trade Organization. Retrieved from docs.wto.org (Last accessed: 21.04.2017).
48. Alfaro, Laura, Kalemli-Ozcan, Sebnem, Volosovych, Vadym. (December, 2005). Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation. NBER Working Pape, 11901. Retrieved from www.nber.org/papers/w11901 (Last accessed: 21.04.2017).
49. Oberhänsli, Herbert. (2015). Regulatory Competition in Globalising Markets for Improved Conditions for Private Investment. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
50. Joubin-Bret, Anna, Chiffelle Cristian Rodriguez (2017). G20 Guiding Principles for Global Investment Policymaking: A Stepping Stone for Multilateral Rules on Investment. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
51. Maskus, Keith E. (2015). Research and Development Subsidies: A Need for WTO Disci-plines? Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
52. Singh, Harsha V. (2016). New Industrial Policy and Manufacturing: Options for Internation-al Trade Policy. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
53. Lee, Keun. (2015). Industrial Policies for the Upper-Middle-Income Countries. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
54. Meléndez-Ortiz, Ricardo. (2016). Enabling the Energy Transition and Scale-up of Clean Energy Technologies: Options for the Global Trade System. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
55. Viñuales, Jorge E. (2015). International Investment Law and Natural Resource Governance. Geneva: ICTSD & WEF. Retrieved from www.ictsd.org (Last accessed: 21.04.2017).
56. Deineko, L.V., Shovkun, I.A., Sheludko, E.I. etc. (2016). Neoindustrial transformation of industrial potential of Ukraine. NAS of Ukraine, Institute for Economics and Forecasting NAS of Ukraine. Kyiv. Retrieved from ief.org.ua/docs/mg/277.pdf (Last accessed: 21.04.2017) [in Ukrainian].
57. Shovkun, Inna (1 April, 2017). Industrial revival of Ukraine: the price of the issue. Zerkalo nedely.Ukrayna – Mirror of the week. Retrieved from dt.ua/promyshliennost/promislove-vidrodzhennya-ukrayini-cina-pitannya-_.html (Last accessed: 21.04.2017) [in Ukrainian].
58. State Statistics Committee of Ukraine. (2016). Table " input-output" of Ukraine in 2014 at basic prices. Kyiv. Retrieved from www.ukrstat.gov.ua (Last accessed: 21.04.2017) [in Ukrainian].
59. The question of import substitution in the Russian economy. (2016). Moscow: Institute of Economics, Russian Academy of Sciences. Retrieved from inecon.org (Last accessed: 21.04.2017) [in Russian].
60. Berezinskaya, O., Vedev, A. (2015). Production dependence of the Russian industry on imports and the mechanism of strategic import substitution. Questions of Economics, 1, 103-115 [in Russian].
61. Blockade of the SRDLR: Myths and Means. (02 September, 2017). Liga.Net. Retrieved from www.liga.net (Last accessed: 21.04.2017) [in Russian].
62. Skrypnychenko M.I. (Ed.). (2015). Models of Identification of Macroeconomic Imbalances in Ukraine. NAS of Ukraine, Institute for Economics and Forecasting, NAS of Ukraine. Kyiv [in Ukrainian].
63. Cabinet of Ministers of Ukraine Resolution No. 130 of March 1, 2017 Approval of the Procedure for Using the Funds Envisaged in the State Budget for Partial Compensation for the Cost of Agricultural Domestic Production. Retrieved from zakon3.rada.gov.ua (Last accessed: 21.04.2017) [in Ukrainian].
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