CONCEPTUAL PROVISIONS OF THE STRUCTURAL TRANSFORMATION OF THE BUSINESS SECTOR BASED ON THE QUALITATIVE CHANGES OF ITS TECHNOLOGICAL CORE

Анотація

When carrying out the structural transformation of the business sector, it is necessary to take into account the consequences of COVID-19 for the world economy. As noted in the United Nations Industrial Development Report 2022: "The Future of Industrialization in a Post-Pandemic World" [1], the crisis caused by the pandemic has shown that the manufacturing sector is a core element of the economy. In addition, it creates jobs, provides income opportunities, introduces innovation and provides multiplier effects that contribute to the development of other segments of the economy. Thanks to this, countries with a developed manufacturing sector, i.e. higher production potential and more diversified industries, suffered less economic losses during the pandemic. The conclusion that the level of economic development is directly related to the technological structure of industry was reached by K. Clarke [2] in the middle of the 20th century, who studied the conditions conducive to economic progress. He emphasized that the general technological level of the economy is determined by the technological structure of industry. Indeed, taking its origins in industry, technological progress contributes to further development in other sectors of the economy. Hence the key role of industry for the sustainable dynamic development of the economy. The need for the fastest restoration of industry and neo-industrialization is emphasized in the report "Rekindling US productivity for a new era" by the McKinsey Global Institute - a reputable American institute that deals with the problems of the economic development of the United States and the world [3].

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