Technological specialization of export as a factor of economic growth

Abstract

In the conditions of increasing globalization and deepening international trade, the technological specialization of an economy can be considered as one of the directions for enhancing the competi­tiveness of the countries worldwide. A useful tool for assessing the countryʼs ability to acquire high-tech competitive advantages is a comparative analysis of the structure and specialization of export with developed countries, which will make it possible to assess the potential of export-oriented development based on technological specialization. The purpose of the article is to determine the specialization of Ukraineʼs foreign trade by comparing the structure and complexity of exports with economically developed countries. This article compares Ukraineʼs export structure across various economic activities with selected developed countries, confirming the trend of its raw material specialization. An analysis of the technological level of Ukraineʼs exports and selected countries is conducted using the Product Complexity Index, which for a more thorough assessment of the technological level and taking into account the dispersion of internal specialization, it is proposed to define it as a weighted average value within the type of economic activity. On the basis of correlation-regression analysis, common regularities in the GDP per capita dynamics as an economic growth indicator and the Product Complexity Index of the selected countries are confir­med. The obtained results prove the prospect of implementing a develop­ment strategy for Ukraineʼs economy aimed at increasing the level of technology and complexity of products, which will ensure the moving away from the raw material export orientation, and enhancing export competitiveness. This approach is particularly relevant in the context of war and the post-war period of economic recovery in the country.