The author raises the problem of developing the strategy oriented at attaining the national economic miracle. At the heart of this strategy is employment of the available resource – the intellectual potential of the nation, which has not been wasted so far. In view of Ukraine’s lack of traditional factors of production, its choice should be based on the strategy of transition to the economy of highlyintellectual services with capitalism of managers (instead of the capitalism of owners), bypassing the phase of processing industry dominance.

Key words:
Capitalism of managers, capitalism of owners, education, information sector, intellectual services, knowledge economy, model of economic development, national idea of economic development, quality of life, skilled work force, strategic choice.

The paper examines the recent performance of the world economy using the two fundamental criteria of efficiency and equity. The common term of globalization is applied showing, on the one side, its multidimensional aspect, while on the other, its extension to different historical periods. Then the phase of the Pax Britannica  is recalled, when the rules of the game essentially were the gold standard  and free trade. It is compared with the contemporary Pax Americana  governed by the neo-liberal Washington Consensus, which has tried to harmonize the behaviour of the main private and public actors of the recent economic evolution: transnational companies, international financial intermediaries, nation states, regional and international organizations. The «trickling down approach», which has inspired this Consensus , suggests that efficiency can drive equity to some extent, relying on market mechanisms above all. The limits of this point of view are shown, considering the empirical evidence, where the general picture of a growing world economy is accompanied by some critical remarks in terms both of inequalities between and within countries, and frequent signs of instability. A new way of thinking is, therefore, emerging at all levels, to suggest a strong and direct link between equity and efficiency; it asks for more interventionism, especially in the institutional field. In line with this trend, the paper argues in favour of creation of the World Labour Organization , more democracy and transparency in the existing international organizations, more regionalization than globalization.

Key words:
Equity and efficiency, globalization, inequalities between and within countries, nation states, Pax Britannica and Pax Americana, regional and international organizations, regionalization, transnational companies and international financial intermediaries, Washington Consensus and the «trickling down approach», World Labour Organization.

Input-output tables constitute a basic tool for the estimation of intra-sectoral relations among various fields (segments) of an economy, on the one hand, and for the calculation of Gross Domestic Product and Income, on the other. The problem of the regional income approach has become obvious since its first practical application. Economic development neither does it function harmonically nor counterbalancing. Therefore, after 1960 originated an attempt to estimate the regional input-output tables. So far no official data referring to the abovementioned tables have been presented. In this article, we estimate the tables for the years 1995, 1998 and 2000 in the Peloponnesian prefecture by means of methodology similar to that employed in the European Union.

Key words:
Input–output, quadrant demand, regionalisation of national table, simple quotient of installation.

This article analyzes the geographical structure of Ukraine’s trade. A modified version of the Gravity Equation is used to measure the impact of the selected groups of countries. Ukraine’s trade appears to be very strongly connected with former Soviet Republics, while the OECD members seem to be underrepresented. Over the last years, the orientation towards former Soviet Republics has got stronger. However, the orientation at the OECD members has improved since 2003 as well. Institutional convergence towards the West, e.g. Ukraine’s accession to the WTO, could double the potential trade with the OECD countries. The potential trade with the former Soviet republics, in contrast, could decrease down to one tenth of the present value.

Key words:
Gravity equation, international trade, transformation economy, Ukraine.

The article disputes on future development of the international monetary system under conditions of modern globalization. The author asserts that globalization is an objective process, and thus, the international monetary system continues its logical development from the universal money commodity equivalent (gold) through multiple reserve (international) currencies back to the world money of higher order. The intermediate stage of this process can be the creation of target currency zones with leading currencies, one example of which is the single European currency – the Euro. In this context, the question about further development of monetary systems of separate countries (including Ukraine) takes on special importance.

Key words:
Globalization, monetary system, demonetarization of gold, target currency zones, International Monetary Fund.

The article raises the problem of Ukrainian companies’ entry onto the international market of services. The author describes the determinants of competitive advantages of national companies on the international services market and assesses the opportunities and prospects for implementing the strategies of clusterization, outsourcing and transnationalization.

Key words:
International services market, determinants of competitive advantages, clusterization strategy, outsourcing strategy, transnationalization strategy.

In this article, the author develops a model of inventor’s profit maximization in the process of commercializing an invention based on the critical analysis of the «optimal life of a patent» model offered by the American economist William Nordhaus. The author defines perspective directions for further modifications of the Nordhaus model for its application in the real economic conditions of Ukraine.

Key words:
Nordhaus model, patent, invention, time lag, profit maximization, commercialization of an invention.