The impact of the Russian economic policy on the Ukrainian economy and business development in the period of market and industrial transformation


The article is a study of the historicalexperience of the Russian empire’s state policy implementationagainst Ukrainian region in the second half of 19th–early 20th century. The subject of this study is the impact ofthe Russian state policy on Ukrainian economy in the period of market and industrial transformations.

The purpose of the study is to determine the mechanisms and effects of the Russian state policy on Ukrainian economy. It wasrevealed that Ukraine due to some certain competitive advantages has become the center of market modernizationand industrialization of the empire and, therefore, has turned into the economic base for the implementation offinancial exploitation governmental policy. Author characterizes the peculiarities of the Russian state policy such asthe directing at achieving fiscal targets and forcing the pace of market modernization; expansionist and exploitativenature of the political measures against Ukrainian region. It was revealed that the tax, countervailing measures andtrade protectionism among the mechanismsof the Russian state policy had the most significant impact on Ukrainianeconomy.

It is proved that the destructive state policy despite some short-term positive effects caused a number ofmicroeconomic and macroeconomic disproportions in the developmentof Ukrainian economy such asmonopolization and imbalance of the internal market, decline of agricultural and small industry production,technical backwardness of enterprises, low labor productivity and quality of products, decrease of wages and profitsetc.

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