Innovation and Sustainability

A comparative analysis of the macro-institutional environment and the structure of transaction costs of subjects of the entrepreneurial sector of the economy in Ukraine was conducted. Micro-institutional indicators of the effectiveness of the state policy of managing the competitiveness of the entrepreneurial sector of the Ukrainian economy are highlighted. A complex of institutional factors that prevent the competitiveness of the entrepreneurial sector of the Ukrainian economy is provided. A set of transaction costs associated with enterprise registration, registration of property rights and loans and their impact on the level of ensuring the competitiveness of entrepreneurship in Ukraine have been determined. It was emphasized that in Ukraine during the transition period, the appropriate conditions for the formation of civilized entrepreneurship and incentives that would ensure their sufficient level of competitiveness were not created. It has been established that the most important factor of modern transformational processes in the sphere of state policy is integration for the benefit of the further development of entrepreneurship and ensuring its competitiveness. Despite the ineffective attempt to create the institutional foundations of entrepreneurship, changes in the system of market relations led to the transformation of the social and institutional order in Ukraine and did not ensure the formation of an effective state policy for managing the competitiveness of the entrepreneurial sector of the economy. Significant disproportions related to the deformation of the monetary and credit system of Ukraine and their negative impact on ensuring the competitiveness of the business sector and the formation of sources for the implementation of state policy in the relevant sphere are emphasized

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