Kudyrko L.P. Transformation of approaches to the selection of regulatory models of foreign trade

Abstract

Organizational, economicand institutional components in transformation of approaches to the selection of models of foreign tradeare researched. A hypothesis about theinterrelation between regulatory model of external sector and foreign trade as its constituent  and international specialization of a country, level of diversification of production and trade relations, the country's place in the international division of labor, ranking in world markets for goods andservices is formulated. Multivariate results of theoretical and empirical research on the impact of trade liberalization on economic growth and development of countries are detected. It is proved that theformingglobal background ofmanufacturing and distribution chains leads to the necessity to change concepts and models of foreign trade regulation at the level of national economy. It is grounded that the use of current international and national trade statistics of obsolete methodological approaches to the assessment of thevolume and structure of foreign trade relations onthe basis ofGross exports and imports leadsto distortions to the extent of participation ofa countryin international trade and the creation of added value, degree of service componentsin world trade. It is definedthat further deepening of international industrial and trade cooperation leads to increased changes in foreign policy through international cooperation mechanisms.It is argued that the priority of cross-border institutional cooperation should be opposition to increasing complexity in the implementation of traditional instruments to regulate foreign trade and investment. It is proved thatthe basis for distributing anti-liberal manifestations in the implementation of anti-crisis programs and a political request to protectionist policies and ideology in the regulation of foreign tradeare formingin a protracted global recession and complications of conditions for the expanded reproduction of economic systemsof theopen type.