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Abstract. In terms of globalization of the world economy, the open economy of a country participating in the globalization process becomes an organic element of the world economy and thus receives additional incentives for development. International flows of goods and capital allow countries to get new sources for economic growth. Economic growth is now not only a function of internal but also of external factors. It is they who now determine the modernization tendencies of national economic policies, forcing them to move in accordance with world trends. The purpose of the research is to assess the relationship between economic growth of the country and external factors of its economic development, as well as to identify the dependency between external factors in order to clarify their role in the modernization of national economy. With this aim, the analysis of the main parameters of openness of Ukraine’s economy is carried out, as of external factors that influence on the national economic development, changes in the traditional production function under the influence of introduction in it of external factors of development, the estimated indicators of the named influences are modeled. The novelty of the research is the identification of dependency between the forms of openness of the economy and economic growth, the development of a model of relationship between the forms of openness of the economy. Research method. The study is based on a set of economic and economic-mathematical methods that are needed to identify the influence of external factors on the national economy, especially methods of abstraction, systematic and structural-comparative analysis, synthesis and modeling of economic processes. Among the models used in the research is a multifactor regression model. The empirical basis was the materials of official statistics of Ukraine for 1999—2019. The results of research showed: the role of globalization of Ukraine’s economy in its economic development, the importance of FDI as an external factor of economic development, the strong link between international capital flows and international flows of goods into the Ukrainian economy, the positive impact of the latter on the former. Keywords: economic growth, globalization, external factors of economic growth, production function, open economy, FDI, foreign trade, government investment policy. JEL Classification F21, F43, F47, F62 Formulas: 7; fig.: 1; tabl.: 8; bibl.: 24.

Introduction. The influence of the COVID-19 pandemic on the global economy is difficult to assess fully, but the changes that are taking place in various industries and business areas can not be ignored. One of the most affected sectors of the economy is the service sector. The decline trend in this area is traced from the beginning of quarantine restrictions mainly in all countries of the world. Ukraine is not an exception. Obviously, the service sector needs to be adapted to a distance form of work, but, of course, each scope of economic activity has undergone irreversible changes. Therefore, the object of research is the scope of services of Ukraine, and the subject – trends, problems and prospects for transforming the sphere of services of Ukraine as a result of the influence of the COVID-19 pandemic. Purpose. The purpose of the article is to find new creative and innovative solutions for the transition of services in distance working in order to minimize losses during and after quarantine restrictions. Method (methodology). To study this topic, both theoretical and practical research methods were used. In particular, in the first stage, the method has been used to collect information on periodicals and other reliable sources. In the second stage – analysis, synthesis and content analysis, it helps to interpret the content of information through quantitative indicators. Further is the formation of a personal position and recommendations based on analyzed data. Results. The key results of this study are the outlining of potential threats with creative decisions to them, based on the experience of leading countries and analyzed information. The recommendations for companies and the Government to facilitate the release of the scope of services from the crisis situation were suggested.