Background. To mitigate the long-term impact of the COVID-19 pandemic, it is crucial to develop an effective national policy and administrative framework that will promote regulated circular labor migration while maximizing the benefits of its effective organization and strengthening measures to protect Ukrainian citizens abroad and foreign migrants in Ukraine, creating conditions for the reintegration of Ukrainian migrants. The aim of the article is to study the changes in global migration flows due to the COVID-19 pandemic in the context of providing a scientific basis for reforming national migration policy. Materials and methods. In the course of the research the methods of statistical analysis, synthesis, grouping and graphical representation of the results have been used. Results. As a result of the analysis it is determined that the main trends in population migration in the world are: the largest share of the population migrating from developing countries to developed countries; continued increase in forced migration due to conflict, harassment, violence or human rights violations; most international migrants in the world live in a small number of countries; international migration often remains within the main regions; the spread of the COVID-19 pandemic has slowed the growth of international migrants and millions of people have lost their jobs and returned home during lockdowns in destination countries, where the economic downturn is also continuing and unemployment is rising. It has been proven that the most favourable conditions for migrant workers, which proved to be the most vulnerable category during the pandemic, were created by European governments. The main preconditions for mass external labor migration from Ukraine are identified: dissatisfaction of Ukrainian citizens with wages, working conditions or vacancies, lack of jobs, socio-economic crisis, decline in production, lack of identified prospects and opportunities for development and self-realization. It is substantiated that the COVID-19 pandemic did not significantly affect migration flows from Ukraine – the return of citizens did not become large-scale, the amount of remittances from abroad decreased slightly. Conclusion. In the future, the COVID-19 pandemic will have a short-term impact on external labor migration from Ukraine. With the spread of the disease, the intensity of Ukrainians going to work abroad will decrease, but if the epidemic ends, the flow will resume quickly. Even if the pandemic causes a global economic crisis and the demand for workers falls, the work of Ukrainian citizens will still be in demand by European countries for economic recovery. Therefore, the state migration policy at the present stage should be aimed at expanding opportunities for Ukrainians to legally work abroad, maintaining closer contacts with those who are in other countries, as well as encouraging citizens to work in Ukraine and convincing them of the expediency of return.

Background. In the context of growing tendencies to hybridize interstate conflicts, hybrid threats become especially important, which, in contrast to direct military threats, are difficult to identify and have their own logic of emergence and escalation. The hidden nature of hybrid aggression and the focus on the most vulnerable parties necessitate a proactive response of the object state based on a thorough assessment of the potential impact of hybrid confrontation on the development of the national economy. The aim of the article isto substantiate the criteria for the intensity of the impact of hybrid threats on the national economy in order to further assess the risks of threats to the state-object of hybrid aggression. Materials and methods. Methods of analysis and synthesis are used to determine the relationship of basic concepts of risk in the context of the study of socio-economic processes; method of mathematical modeling – to formalize the criterion of the intensity of the destructive impact of hybrid threats on the national economy; method of graphical modeling – to visualize the dynamics of escalation of the destructive effects of hybrid threats. The research was performed on the basisof scientific publications, materials of the State Statistics Service of Ukraine and European analytical services. Results. It is substantiated that the transformation of modern interstate conflicts takes place in the direction of their acquisition of signs of hybridization, provided that it is understood as a process of using various means of pressure, mostly of a non-military nature. It is proved that the high destructive potential of hybrid threats requires the definition of criteria for the intensity of their impact on the national economy in order to further assess the risks of threats to the state-object of hybrid aggression. The author`s interpretation of the relationship between the basic concepts of risk in the context of the study of socio-economic processes, which are arranged by the level of escalation in the following order: potential danger, potential threat, real threat, risk situation, real danger. Based on the definition of the specifics of hybrid threats, their key characteristics are systematized and the destructive impact on the national economy is structured. It is substantiated that the generalizing characteristics of the destructive impact of hybrid threats on the national economy should be recognized as the level of its intensity, which is determined by the probability of the threat realization and potential losses. It is proved that the escalation of hybrid threats to economically weak and vulnerable states to the level of real danger is almost inevitable if their interests conflict with the ambitions of leading geopolitical actors. Conclusion. Interval assessment of the criteria for the intensity of hybrid threats allows structuring their destructive impact on the national economy from the minimum (potential danger) to the maximum (real danger) level of escalation. The structuring of the destructive impact of hybrid threats creates a basis for assessing the risks of threats to the state-object of hybrid aggression depending on the level of their intensity and overcoming the negative consequences for the economy of the state-object of hybrid aggression.

Background. Dynamic changes in international economic relations and trade for thorough analysis and forecasting require an adequate paradigm of international trade theory, which would take into account not only economic and political factors of its development, but also the diverse civilizational context of the world community, which determines mental, social and cultural features of the development of a country. Problem research state. Problems of political economy in international trade to some extent affect the research of P. Krugman, M. Obstfeld, J. Frieden, E. Helpman, P. S. Afontsev, A. Mazaraki, T. Melnyk, V. Panchenko, N. Reznikova and others. But the structure of its methodological discourse and the subject of its research remain unclear. The aim of the articleis to clarify the political and economic discourse of the theory of international trade. Materials and methods. The materials of the research were the works of domestic and foreign specialists. In the process of preparing the article, general scientific research methods were used: historical, logical analysis, synthesis and abstraction. Results. Political economy is a normative manifestation of economic theory, which is formed under the influence of socio-economic and political concepts, the formed goals of social development. The subject of political economy of international trade – economic and socio-political relations that determine and accompany international trade and determine the goals and content of trade policy of its subjects. It is proposed to expand the mechanism of formation of relative advantages and trade policy of the country by including factors that determine not only its economic potential and specialization, but also the risks that may be caused by political decisions. It is argued that the problem of «protectionism vs liberalism» in international trade at the state level will always exist. It turns out that the problem of justice in international economic relations and trade is determined by the civilizational content of the development of countries, in which human capital plays a crucial role. Conclusion. The paradigm of political economy in international trade should be based on an expanded interpretation of relative benefits by assessing the impact of economic, social and political institutionson them, the peculiarities of national trade policies.

Background. The erasing of the pandemic and its rapid spread all over the world has become a great challenge both for the global economics and for individual national economies. Analysis of recent research and publications. International organizations, including the WTO, IMF, FAO, are engaged in the actualization of the problem of levelingthe impact of the pandemic on the issue of debt, financial, food security. Scientists and practitioners are concerned about the consequences of the spread of COVID-19 for doing business and the ability to freely supply goods to foreign markets. However, the problem of transforming the structure of exports in the context of a pandemic remains poorly studied, controversial, and requires detailed consideration. The aim of the article is to study the transformation of the export structure, taking into account the geographic diversification of the supply of domestic goods and the adjustment of the commodity saturation of the country’s export basket in the pre-pandemic and pandemic periods. Materials and methods. The study is based on the works of foreign and domestic scientists, materials of international and domestic organizations, enterprises data. In the process of preparing the article, the following methods were used: system-structural; statistical and graphic; abstract-logical. Results. The article contains investigation of the concept of transformationas an economic phenomenon, structural transformation of exports is considered as evolutionary and/or revolutionary change in the geographical vector of export development and/or optimization of the disproportion of the export basket under the influence of endogenous and exogenous determinants. The authors carried out the assessment of the structural transformationofthe economy according to the foreign economic approach, the transfor­mation of the geographical and commodity structure of exports; investigated the dynamics of the currency structure of receipts for goods; defined the determinants of changes in the pre-pandemic and pandemic periods; made proposals for the further development of the structure of the domestic export basket; substantiated the need for anti-crisis post-pandemic development of exports. Conclusion. The pandemic became a catalyst for the problems of exporters, made them think about options for solving them through the formation of an anti-crisis policy and an immediate search for ways of anti-crisis post-pandemic development.

Background. Corporate reporting is one of the key tools of external communication. Bringing it in line with EU Directive 2013/34 is in line with Ukraine’s European integration plan and the interests of Ukrainian business. The aim of the article is to study the approaches to transposing the provisions of EU Directive 2013/34 on the structure and content of corporate reporting in the EU Member States and in Ukraine to ensure its interna­tiona­lization. Materials and methods. The research was conducted using the methods of theoretical generalization, comparative analysis and synthesis, which allowed to assess the domestic practice and prospects of transposition of EU Directive 2013/34. Results. The provisions of EU Directive 2013/34 on the preparation and publication of annual financial statements are considered. The requirements are systematized and the powers of national regulators to determine the structure and content of financial statements by category of enterprises are analyzed. Approaches to the reform of accounting legislation in the EU member states and in Ukraine are studied. The differences between the measures taken and the prospects for transposition of EU Directive 2013/34 in our country have been identified. Conclusion. Unlike EU countries, the management report and the report on payments in favor of the state are new forms of reporting. The formation of the regulatory framework for the implementation of EU Directive 2013/34 in Ukraine is not completed yet, their preparation and practical implementation require a certain adaptation period to study foreign experience and create a favorable investment environment. Further in-depth study of the provisions of EU Directive 2013/34, in particular on the structure and content of financial statements of various categories of companies, will allow better understand domestic legislative innovations, reporting of business partners from EU countries and make reporting of Ukrainian companies more transparent and useful to increase their competitiveness and investment attractiveness.

Background. Accounting and auditing play an important role in ensuring an efficient and sustainable economy. This is facilitated by the introduction of a system of common standards and approaches, coordination and supervision, support and harmonization by professional organizations. The aim of the article is to determine the role of professional organizations in the field of accounting and auditing in Europe, the characteristics of the tasks and results of their activities, the importance of Ukraine’s membership in European professional organizations. Materials and methods. During the study, the methodological basis of general and special methods of cognition: grouping, comparison, abstraction, generalization, analysis, synthesis, induction, system approach is used. Results. Professional organizations in Europe assist member states in their efforts to implement international standards, codes of ethics and best practices to harmonize and improve the reporting of enterprises, improve financial stability, promote international and domestic investment, and social and economic progress. This is achieved through the exchange of experiences, proposals and best practices, the formation of a common vision in the development of guidelines, standards and assistance and support in matters relating to accounting, financial reporting, auditing, consulting services. A significant role is played by Accountancy Europe, which lobbies the professionalinterests of accountants at European level in order to better harmonize accounting practices in Europe. Conclusion. The main role of professional organizations in the field of accounting and auditing is to protect the public interest, improve the efficiency, effectiveness, transparency and accountability of business, increase the relevance, reputation and value of the accounting profession, dissemination of best practices. International investors with global investment need quality, transparent, reliable and comparable information on companies ’activities on climate and other environmental, social and management issues, confidence in the conclusions and confidence in the reliability of the auditors’ opinions. That is why the role of professional organizations in the field of accounting and auditing is relevant today and will grow in the future for Ukraine, Europe and the world.

Background. In order to stimulate lending, central banks use targeted refinancing operations, which allows lowering interest rates and increase the liquidity of the banking system. Taking the current state of bank lending in Ukraine, the development and implementation of effective lending stimulation program, namely targeted refinancing operations, is a crucial for further economic development. The aim of the article is to conduct a comparative analysis of lending programs in some developed countries, identify the shortcomings of the current lending stimulation program in Ukraine and develop a concept of a mechanism to stimulate lending by monetary policy measures in Ukraine. Materials and methods. The basis for the research is general and special scientific methods. Analysis, synthesis and systematization were used to assess targeted lending approaches in some countries, identification of shortcomings of the current lending stimulation program and further development of a concept for a targeted long-term refinancing mechanism in Ukraine. Methods of analytical and logical generalizations were also used for the research. Results. Targeted refinancing operations are widely used for lending stimulation in different countries. Depending on the final goals and the state of economy, these operations may differ in their conditions. Nonetheless, the most of the countries prefer monetary policy as a main driver for lending stimulation. In spite of that, currently in Ukraine the fiscal policy was selected as a driver for lending stimulation. The paper proposes to change this approach in view of its shortcomings and to use targeted refinancing of banks instead. Conclusion. The implementation of targeted refinancing in Ukraine will help to reduce the cost of lending and stimulate the development of prioritized sectors of the economy and decrease the dollarization of the economy. Considering the bearing risks, it is proposed to limit the total amount of targeted lending operations; limit the banks allowed to participate in targeted lending; extend the list of appropriate collateral against target refinancing.

Background. The crisis COVID-19 pandemic has highlighted that EU have strategic dependencies, particularly in the most sensitive industrial ecosystems such as for health. Ukraine implements the policy of European economic integration and the development of the pharmaceutical sector must take into account both European considerations and national interests. Analysis of recent researches and publications revealed that the crisis COVID-19 pandemic revealed pharmaceutical industry problems; that require further study for adequate reproduction of the best practices in Ukraine. The aim of the article is to explore the EU experience, to define and justify the necessary policy measures for the development of pharmaceuticals in Ukraine in the context of European integration. Materials and methods. The theoretical and methodological basis for writing the article was the works of domestic and foreign scholars on the outlines of an industrial policy for the pharmaceutical sector. The research was conducted using the methods of theoretical generalization, comparative analysis, analysis and synthesis, which made it possible to justify the need for changes in the management of high-tech pharmaceutical industries development in Ukraine. Results. The regulations in force in Ukraine regulate legal relations in the pharmaceutical sector in the context of EU integration, but do not define the priorities of the sector and the measures to achieve them or the mechanisms for their implementation. Recommendations for Ukraine have been given, the implementation of which will accelerate the development of national high-tech pharmaceutical industries and related sectors of the economy taking into account changes in EU policy. Conclusion. In Ukraine, first of all it is necessary to define the conceptual foundations of the strategy of development of the high-tech industry of pharmaceuticals and medical products, based on the modern challenges and threats, as well as global trends in the technology development; to build an effective decision making vertical on the implementation of industrial policy for the pharmaceutical sector, identify strategic priorities and evaluate the necessary funding, to introduce state support programs, introduce instruments to stimulate domestic demand for Ukrainian pharmaceutical and medical products, make changes to the public procurement system for the development of industry for national security purposes. Recommendations are proposed as to: improving the normative-legal and institutional principles of the development of pharmaceutical industry; strengthening the cooperation of the State, academic, educational, private sector and public; creating stable resources of funding programs and projects on the basis of public-private partnerships.