Areas of Economics

The paper presents the content, as well as approaches to the use in the educational process of the author’s Electronic educational methodical complex (EEMC) “Construction of car”. The course is created for students of the speciality 015 Professional education (Transport, the operation and repairing of automobiles). Its content covers general topics including the study of a car engine, electrical equipment and automotive driveline. The created electronic course embraces, in addition to textual material, illustrations, dynamic models, instructions, manuals, textbooks, reference books (...) and glossaries, test material for each topic. Its possibilities of application during lectures, in the course of performing 15 laboratory works, organizing test control of knowledge, as well as for managing students’ independent study activities have been shown. Approaches to expert evaluation of the developed electronic study course by 11 criteria have been disclosed. The directions for further improvement of the content and methods of organizing the study and cognitive activity of students when using the course have been highlighted. These include the organization of level assimilation of the material, the creation of an individual educational trajectory of students. A rather high assessment of the developed author’s course received from experts allows it to be used in the system of vocational preparation specialists in the transport area of expertise. (shrink)

The book is addressed to those who want to open a business in Romania, to become entrepreneurs or managers and to accumulate necessary accounting information on starting and managing a business. Accounting is the "ace up the sleeve" of any manager because, with the information provided, one can know the past, present and predict the future of a company. This paper presents the theoretical elements of the concepts used in accounting necessary for any manager. The book is intended for those (...) interested in this field whose training can be completed with the ABC of accounting. (shrink)

The resources and resource potential of the innovative component of nanoeconomics are analyzed. The factors of production – classical types of resources such as land, labor, capital and technology – are described. Ways of influencing the security resources of nanoeconomics within the innovation paradigm are evaluated. The purpose of the study is to identify the factor of nanoeconomics in the formation of resource security potential in the innovation paradigm. To achieve this goal, the following tasks were set: to characterize the (...) importance of the land resource as a factor in the potential of economic nanosystems; to highlight the importance of capital as a factor of nanoproduction and an indicator of the innovation paradigm; to determine the labor resource in the development of innovative nanosystems; to analyze the intellectual potential of nanoeconomic development of the innovation paradigm; to identify clusters of innovative nanopotential in the regions of countries with transition economies. Each resource is examined separately with the first analysis of a resource security assessment such as land. The other resource under consideration is labor. Demographic factors become decisive in describing the development of labor resources. The capital factor allows the formation of independent economic systems, when the state budget affects the possibility of developing science, education and health care. A number of methods were applied during the study: methods of induction and deduction (to assess the importance of the innovation paradigm for the development of nanoeconomics); system analysis and structural approach (to determine the aggregate state of production factors); method of comparing the quality of production factors in market economies and in developed countries; an observation method (for assessing the state of resources in different countries); method of cluster analysis (to determine the existence of innovation-territorial regions in countries with economies in transition). The analysis is carried out to identify the conditions of the impact of production factors on the innovative paradigm of nanoeconomics. It reveals theoretical approaches to the formation of nanoeconomics and its active development. As a result of the study of intellectual and resource potential of security, a cluster analysis was carried out to assess the conditions for the formation of innovation-territorial regions. This study allows to understand the role of production security factors in the formation of the innovation paradigm and the efficiency of the development of nanoeconomics. The way of providing the basis for the development of nanoeconomics in the form of efficient use of production factors is considered as a perspective. (shrink)

This study has proven that the economic system is determined by various components, in particular, it includes the real sector of the economy, which is formed on mega-, macro, meso-, micro-and nano-levels. In addition, it was proved that the nano-level is determined by the activities of individuals whose economic activity begins with the birth and attitude of parents, attending various educational and upbringing institutions, and studying at university. A separate segment of the nano-level of the economic system is the baby (...) industry responsible for the production of goods and services for children and future parents. All these aspects are indicators of the development of the baby economy. Such an economic category as the baby economy was separated and defined. The study uses the following methods: analysis, synthesis, structural analysis, systemic approach, observation, comparison, multifactor regression. These methods made it possible to achieve the results, which involve isolation of the baby economy as a component of nanoeconomy and definition of such components of the baby economic segment of nanoeconomy as a family or household economy, the baby industry, the economy of the educational process and upbringing. For this purpose, the value-institutional approach was applied. In addition, multifactorial analysis of the impact of indicators of the baby economy development on the population of a country with a transitive economy with incomes below the subsistence minimum was performed. This analysis identified a direct but minor relationship between these phenomena, which demonstrates the need to intensify and create a policy for the baby economy in similar states. The theoretical significance of the obtained results is determined by the introduction of a new economic category of "the baby economy" for the formation of a nano economic component within socio-economic systems. (shrink)

This chapter explains the rationale behind the book. It provides basic definitions of the concept of the sharing economy as well as the primary meanings related to the subject of the analysis undertaken in the subsequent chapters. This Introduction also includes a description of the main benefits of the analysis of the sharing economy from a European perspective. It highlights that the idea of the book emerged from the collaboration of most co-authors in the COST Action CA16121 ‘From Sharing to (...) Caring: Examining Socio-Technical Aspects of the Collaborative Economy.’ Finally, the outline of the book is presented, providing a description of the content of each chapter within this academic collection. (shrink)

This paper addresses the field of economic measurements of the value of assets, carried out by the methods of independent expert evaluation. The mathematical principles of application, within a comparative methodical approach, of additive and multiplicative models for correcting the cost of single indicator of compared objects have been considered. The differences of mathematical basis of the compared models were analyzed. It has been shown that the ambiguity in the methodology of correction procedure requires studying the advantages and disadvantages of (...) known models, as well as the justification and elaboration of recommendations for their application. Possible forms of correction representation using several alternative units of measurement have been defined; formulas for their interconnection have been built. Analytic expressions have been derived that mathematically describe the algorithms for performing the evaluation correction procedure using various forms of correction representation. The influence of the correction execution model on the characteristics of uncertainty in the independent evaluation result has been analyzed. The scope of two possible types of correction introduction models has been determined. A specific numerical example was used to demonstrate the methodological advantages of using a multiplicative model when summarizing percentage corrections. The independence of the correction result on the sequence of correction introduction has been confirmed. It is proposed to use the selected measure of partial corrections as a criterion for the adequacy of the correction introduction model. It is proved that the result of the independent expert evaluation depends on the chosen model and does not depend on the sequence of correction introduction. The reported study results are important in terms of theory and practice since they make it possible to improve the accuracy and reliability of the result of independent expert evaluation. (shrink)

Understanding the buying and shopping behaviour of current and potential consumers is essential in formulating a successful marketing strategy. It is no longer sufficient for companies to merely produce goods or provide services; companies must know who their consumers are, why they buy, when, where and at what price they buy, and what benefits they expect to gain from the purchase. Companies also need to identify how far consumers are willing to travel to make their purchases and whether the size (...) of the sales area plays a significant role in their preferences. Retailers must also determine whether their customers prefer online shopping or want to buy and spend their leisure time in shopping centres. The paper aims at presenting the selected current trends in buying and shopping through elaborating an overview of the selected research studies and secondary data. The paper also gives an overview of contemporary trends in shopping, customer preferences with regard to types of retail outlets, e-commerce as such, buying and shopping in the online environment and, last but not least, the changes in consumer behaviour during the COVID-19 pandemic. -/- Pochopenie nákupného správania súčasných a potenciálnych spotrebiteľov je podstatou úspešnej marketingovej orientácie na trhu. Nestačí už len vyrábať výrobky, resp. Poskytovať služby, je potrebné poznať, kto je spotrebiteľ, prečo nakupuje, kedy a kde nakupuje, za akú cenu a aký úžitok od nákupu očakáva. Akú vzdialenosť je ochotný prejsť za nákupmi, či hrá v tejto preferencii podstatnú úlohu predajná plocha predajne, alebo vzdialenosť. Či preferuje online prostredie, alebo chce okrem nákupov (hlavne) v nákupných centrách tráviť aj svoj voľný čas. Cieľom nášho príspevku bolo zhodnotiť vybrané súčasné trendy v nakupovaní prostredníctvom spracovania prehľadu vybraných výskumov a sekundárnych dát. V príspevku sa stručne venujeme prehľadu súčasných trendov v nakupovaní, preferenciám spotrebiteľov podľa typu predajní, elektronickému obchodu ako takému, nakupovaniu v online prostredí a v neposlednom rade aj zmenám v spotrebiteľskom správaní počas trvania pandemie COVID-19. (shrink)

The definition of nanoeconomics can relate to different levels and areas of economic life. First of all, this is the nanolevel of the economic system. As a human economy, nanoeconomics provides for the allocation of an individual factor within the framework of a socio-economic phenomenon. The nanoeconomic aspect is central to the definition of inclusion. So, the inclusion of a person, as the main subject of nanoeconomics, to the formation and stabilization of economic systems is the initial one in the (...) integration of an individual in relation to production processes and economic development. A person is involved in academic and social life by making decisions about their own business and integrating it into the sectoral and national economic space. It is proved that its indicators are the conditions for clustering the economic system. The study carried out a cluster analysis of the innovation system in a country with an economy in transition. In addition, the study outlined that inclusive phenomena in the economy are close to integration and are the opposite of segregation and isolation. It is noted that different institutions of integration can be used to form objective conditions for the development of babyeconomics. Public decisions of inclusion involve the use of Arrow's impossibility theorem. The research results can be used: – the individualistic functions of inclusion should be used in the formation of the babyeconomics, the human economy and the economy of nanotechnology; – states of inclusion must be created at all levels of the economic system; – a person and wealth are an individualistic aspect of an inclusive economy, because national wealth consists of individual wealth. Nanoeconomics is just beginning to be included in the systemic processes of inclusive economic phenomena, especially in countries with economies in transition. (shrink)

This article is devoted to the study of directions of financial safety of Ukrainian agricultural enterprises through the assessment of indicators economic activity and analysis of the export potential of agricultural products. The financial indicators of economic activity of Ukrainian agricultural enterprises, which affect the ensuring of financial safety, are determined. The activity of large Ukrainian agricultural enterprises in terms of their capitalization and formation of own capital are studied. Analyzed the commodity structure of exports agricultural products of Ukrainian agricultural (...) enterprises and determined the amount of foreign exchange earnings from EU countries. Due to economic-statistical and mathematical tools, a study of the dependence of GDP and the euro on foreign exchange earnings from exports of agricultural products of Ukrainian agricultural enterprises to the EU countries. Offered the scheme of directions of maintenance of financial safety of the agricultural enterprises of Ukraine in the context of internal environment of activity of economic entities and stabilization of macroeconomic indicators of the country. (shrink)

The article presents an analysis of global trends in setting the inflation target and the acceptable corridor of inflation target fluctuations. Inflation targeting is an important attribute of the monetary regime of inflation targeting, its main quantitative parameter. The tendency of the inflation targeting regime in 70 countries all over the world are considered, of which 41 countries have official recognition by the International Monetary Fund (IMF) regarding the inflation targeting regime. It was found that most countries set the inflation (...) target at 5% or below, and the level of the corridor of fluctuations in relative terms hovers around 20-50% of the target value. The latest trends related to changes in the monetary policy of the European Central Bank have been studied, recommendations for determining the acceptable corridor of fluctuations of the inflation target in small and open economies on the example of Ukraine are provided. (shrink)

El concepto de desarrollo humano del Programa de las Naciones Unidas para el Desarrollo (PNUD) surge en 1990 como una crítica a la consideración de la economía como el fin último de los esfuerzos del desarrollo. En la visión del PNUD, la economía es considerada un fin relativo, es decir, un fin y un medio para el desarrollo humano. Al considerar, por su parte, el fin del desarrollo humano, este es identificado con el ensanchamiento de las opciones y libertades de (...) que gozan los individuos. En este sentido, este concepto de desarrollo humano hace alusión a una práctica política más que a un entendimiento ético-ontológico del ser humano, evitando referirse a desarrollo humano entendido como un desarrollo del ser humano. Este artículo explora los antecedentes del concepto del desarrollo humano del PNUD y los fines que consideran estos enfoques previos. Se observa que la consideración subjetivista del PNUD proviene de la teoría de Amartya Sen, quien queda sujeto a la crítica objetivista de Martha Nussbaum al no considera un fin objetivo para los asuntos humanos, crítica que puede de igual manera aplicarse al concepto de desarrollo humano del PNUD. (shrink)

Risk assessment is one of the prerequisites for understanding its causes and possible consequences. We base our risk assessment on the principles described in the European standard EN 31000 - Risk Management Process. This standard comprehensively describes the continuous activities that are necessary in managing risks and minimizing their possible adverse effects on the operation of the system under investigation. In this activity, it is necessary to first identify the existing risks, then analyze and evaluate the identified risks. In the (...) analysis of existing risks, it is possible to use both qualitative and quantitative analytical methods, or combine them. We use qualitative methods in cases where we do not have a sufficient amount of input information, these are more subjective. Quantitative methods are more accurate, but also more demanding on input information and time. The choice of a suitable analytical method is a basic prerequisite for knowledge of risks and their evaluation. The values of individual risks obtained in this way are the basis for determining the measures that are ecessary to minimize them, i.e., to adjust them to an acceptable level. The draft measures are always based on the value of the individual components used to calculate the risk number, as well as on the value of the asset , which needs to be protected. Appropriately chosen analytical methods are one of the basic prerequisites for the consistent application of the principles of risk management, as a continuous process aimed at increasing the overall security of the system under study. In the article, the author describes the procedures used in risk assessment, as well as specific analytical methods that can be used in working with risks. The aim of identifying risk factors is to create a list of events that could cause undesirable disruption to ongoing processes. At this stage, we define all the risks that will be subsequently analyzed and evaluated. When identifying, we can use methods such as, e.g. SWOT, PHA (Preliminary Hazard Analysis) or CA (Checklist Analysis). Methods suitable for determining the causes and creating scenarios for the course of a risk event are ETA (Event Tree Analysis) or FTA (Fault Tree Analysis). The basic analysis of the system can be performed using the FMEA method (Failure Mode and Effect Analysis), which provides a numerical risk assessment. By comparison with the numerical value of the risk that we are willing to accept, we obtain 2 groups of risks. Acceptable, which will be given regular attention and unacceptable, which we will focus on in risk management and we will try to minimize its negative affect on the functioning of the system under study. (shrink)

Communication problems not only every year arouse more and more interest among people of different ages, diffrent professions and education, but, above all, are a necessary component of the professional competence of specialists in all areas of their activity. In 1941, Fethullah Gülen, an Islamic scholar and Turkish public figure, said that "thanks to advances in communications and transport, one of the driving forces of globalization, the distances between countries and peoples are rapidly blurring". But during communication, a person commits (...) many mistakes and stupidities. Foolishness is visible in those moments when a person should be silent, and he speaks, or when it is necessary to speak, and he is silent, - Zufar Fatkudinov said. The same thing happens in entrepreneurial communications. Business communications are a set of contacts in the business environment that each firm establishes and reproduces in the process of carrying out entrepreneurial actions, participation in business relations. Business communications are interfirm or intrafirm in nature. Business communications should be distinguished from ordinary communication. They represent ways of organizing the interaction of business entities with their intra-firm and inter-firm environment, during which all parties of the interaction strive to defend their interests in business. The materials of this book can be used in the study of the disciplines "Ethics of business relations", "Business communication", "Psychology of business communication", "Psychology of management" in higher and secondary educational institutions. The textbook is practically oriented: at the end of each chapter there are control questions and tasks, as well as literature for independent study. (shrink)

In accordance with Order No. 548 of the Ministry of Infrastructure dated December 21, 2015 “On measures for the development of road transport and the road economy for the period until 2020”, strategic directions and strategic development goals were developed. This is necessary to ensure the implementation of plans and the implementation of EU legislation in accordance with the Association Agreement. In accordance with the Order, the priorities were to reform the road sector and to ensure the development and maintenance (...) of the road network in good condition. It was also proposed to modify the existing road financing system. (shrink)

Citizens are the most important economic priority for the economy of Ukraine in comparison with any territory values in the number of its territories and from this position easy needs any position. The pandemic economic crisis did not reveal anything new, but it finally and irrevocably confirmed and proved the priority of the human factor in the economy of any state over the geographical boundaries and regional structure of the state.

The monograph is devoted to the scientific substantiation of theoretical and methodological postulates of the integrated reporting formation and development of practical recommendations for definition and disclosure of the integrated reporting items. Preconditions of the integrated reporting genesis are defined, which include institutional theory development and institutional investors emergence, whose activities are based on the following principles: socially responsible investment; movement of Ukraine to the European Union; increasing the requirements for the disclosure of accounts by stock exchanges; international cooperation in (...) ecological safety issues; modern information and communication technologies development. An overview of the basic foundations of the integrated reporting compilation is presented, difficulties of its formation and popularization among Ukrainian companies are revealed. Perspective directions of activity on the integrated reporting implementation in Ukraine are determined. Recommended for managers, academics, graduate and undergraduate students of economic specialties. (shrink)

In order to ensure stable functioning and development of the enterprise, they evaluate the effectiveness of economic activity. An effective tool for assessing economic activity in modern conditions is economic diagnostics, which allows you to analyze the main indicators of the enterprise, to explore the factors that led to the change in the relevant results and adversely affected the activities of the enterprise. Agricultural enterprises also need such methodological tools for economic diagnostics. However, the existing tools for assessing the effectiveness (...) of economic activity does not allow for a comprehensive assessment of indicators. In addition, the management system of agricultural enterprises raises the requirements for providing a more effective and justified system of evaluating indicators using economic diagnostics. (shrink)

В статье описаны результаты анализа условий становления бизнеса в Украине, который прошел три стадии развития и утверждения. В их числе такие: 1) фаза начального движения советского предпринимательства в 1985–1991 гг., строящегося на условиях планового командования и распределения; 2) фаза гибридного накопления ресурса бизнеса в 1992–2009 гг., основывающегося на условиях невмешательства; 3) фаза реорганизации бизнеса на научно-методической основе в 2008–2016 гг.

The article is devoted to the prospects of creation and functioning of cooperative banks and development banks in Ukraine. The article deals with the peculiarities of cooperative banks and development banks. Sci-entists analyzed the views on the activities of banks and their impact on economic development. The article deals with the peculiarities of development and operation of the cooperative banks of developed countries: Germany and Poland. A three-tier model of national cooperative bank system has been suggested. The influences of developments (...) banks operations on the national economy are defined. The main grounded differences between development banks and commercial banks are defined. The problems of creating devel-opment banks in Ukraine are analyzed. (shrink)

In recent years, there have been many reforms in the field of accounting. In the same time, scientists focus on the leading methods of accounting, financial management and economic opportunities for the additional use of accounting tools to introduce reforms in the field of the accounting of public sector entities. The main goal of this paper is to reveal the leading features of the accounting system of public sector entities and to study the aspects of a new accounting system, which (...) in the future can be implemented into the activities of public sector entities. The paper provides a scientific vision of the accounting reform of public sector entities. Our vision of forming a new accounting system in the public sector is based on the accounting model used in Italy and takes into account the peculiarities of the methodology and accounting organization in accordance with the International Accounting Standards. We highlight the main problems of introducing a new accounting system for public sector entities, based on the International Accounting Standards. In our opinion, this research can form new knowledge in the national literature on the accounting of public sector entities and highlight the main problems that arise while implementing accounting reforms. In addition, our research results can serve as a basis for the implementation of the accounting of public sector entities on the basis of International Accounting Standards for the public sector and the accrual principle. We believe that the main scientific aspects of public sector accounting will be the basis for future reforms based on the implementation of International Accounting Standards in the activities of public sector entities. (shrink)

The purpose of the article is to provide the evolving international trends of modern management models and authorial vision of model of state governance system in Ukraine, its subsystems, in particular, the system of provision of administrative services that is appropriate for the contemporary times. Methodology. On the basis of scientific and theoretical approaches to the definitions of terms “state governance” and “public governance”, there was an explanation of considerable difference between them and, taking into consideration, the mentality of Ukrainian (...) society and peculiar weak side in self-organization, the authors offered to form authorial model of governance on the basis of historically traditional for Ukraine model of state governance and to add some elements of management concepts that proved their significance, efficiency and priority in practice. Results. The authors emphasized the following two prevailing modern management models in the international practice: “new state management” and “good governance”. The first concept offered for consideration served as a basis for the semantic content of state activity that reflects more the state of administrative reformation. Practical meaning. A practical introduction of management to the domestic model of governance creates the range of contradictions that do not allow implementing herein concept. Pursuant to authors, the second one allows in considerable measure to reform state governance, considering historically developed peculiarities of this model. Moreover, the involvement of concept herein into introduction of informational and communicational technologies in the process of governance eliminates the necessity of power decentralization, it allows to form real net structure and, at the same, to keep vertical power structure, to involve citizens for formation and taking of management decisions, to form electronic communicational channel of feedback, to provide citizens with electronic administrative services. All indicated advantages of the concept certify about the necessity to reform state governance exactly in this field. Meaning/ Distinction. This article raises a question about the significance of formation and sequence of state policy in Ukraine aimed at creating an information-oriented society, space, as well as informational and technological infrastructure. (shrink)

The purpose of the work is to form the net structure of management of the system of administrative services provision on the basis of implementation of subject-to-subject interactions between state sector and civil society. Methodology. The methodology basis for the investigation is the abstract-logical analysis of theoretical and methodological backgrounds for management of relations and interactions. For the theoretical generalization and formation of net structure, there are used scientific recommendations of Ukrainian scientists regarding the necessity to implement subject-to-subject relations in (...) the system of administrative services provision. Results. The investigations allowed confirming that the hierarchical structure of the state governance system does not give an opportunity to implement equal interaction between a subject of provision and a subject of an appeal as these relations have one – way communication and the feedback channel has a formal character. Moreover, the civil society is not considered by state sector to be a source of methods and ways to develop the system of state governance, in particular, the management system of administrative services provision. Practical meaning. The net structure of management will allow implementing the subject-subject relations in the system, under which the actions of the subject of provision – that means state sector – will be directed to the realization of rights and interests of the subjects of appeal. In their turn, apart from the performance of all legislative responsibilities that they should perform, they can carry out activities directed to the development of management activity in the system of administrative services provision and the whole system of state governance as an integral system of management. Meaning/Distinction. The provided model of the net structure will allow involving citizens in the processes of state governance and increasing the impact of the civil sector during the making of state and management decisions and, as a result, to confirm subject-to-subject positions in the relations. (shrink)

Status of the national currency of Ukraine exchange rate has been characterized as unstable in recent years. Herewith, the Government has not implemented decisive measures on its stabilization, as a rule, underestimating the importance of the Hryvnia exchange rate stability for the successful economic growth in terms of socio-economic transformations. It should also be noted that in modern conditions among scientific and methodical approaches to the State exchange rate formation mechanisms some uncertainty regarding basic and additional tools for such regulatory (...) activities allocation is still persist. The problem relevance is exacerbated by the lack of effective policy (coordination between the NBU and the Government actions) regarding the national currency stabilization as an indispensable prerequisite for an effective macroeconomic development. These circumstances determine the importance of factors influencing the national currency exchange rate and its regulation tools research, as well as new organizational and economic mechanisms for the national currency exchange rate in Ukraine stabilization identification. In the emerging market economy conditions formation of the efficient State currency exchange-rate regulation system provides an opportunity not only to stabilize its exchange rate in different socio-economic conditions, but to create the basis for improvement the country economic development as a whole. Given this, the issue of effective tools for the national currency exchange-rate regulation by the state determination is of theoretical, practical and methodological significance. This emphasizes the relevance of further scientific-methodological and practical principles in-depth development for the national currency exchange-rate regulation. (shrink)

Nowadays a lot of new financial instruments for SMEs innovation projects are getting more popular in the business environment. A great number of them are traditional like credit loans at the same time we can observe the appearance of innovative ones. Variable set of financial instruments generalized on fig.1. This classification is giving by Organiztion of Economic Cooperation and Development ( OECD). As we can see from the fig.1 the classification is based on risk approach. For further research it is (...) needed to сlarify these definitions. Firstly, asset based finance is the method of assigning structured turnaround capital and term loans, disbursement of debit portfolio, stocks, machines, funds, and / or real estate. This type of finding is suitable for SMEs beginners, refinancing existing loans, growth financing, mergers and acquisitions. (shrink)

The practice of using the term “electronic governance” does not differentiate the concepts of the subject of management, that is, the three branches of government, with forms, processes and technologies of governance, which is not correct, since the use of information technology in state activities is not a top priority. On the other hand, electronic governance technologies cannot be considered separately from the automated governance processes as well as electronic governance technologies are not a supplement or an analogue of the (...) traditional state, as intended to communicate by means of electronic governance technologies to increase the efficiency of the entire system of public administration, in particular in the system of administrative services. (shrink)

In markets globalization and increasing competition context, governments of the world’s leading countries are forced to use complex organizational and economic instruments to support the countries’ economy. One of such instruments is creation of Free Economic Zones (FEZ) with favorable conditions for doing business. Over the last decade activation process of Free Economic Zones mechanism disposal for the economy of a particular country development has been possible to observe. If in 1995 there were approximately 500 zones in the world, now (...) there are more than 4,300 zones in more than 130 countries which employ more than 68 thousand workers. In addition, global practice has shown that FEZ activities effective organization is efficient not only in giving impetus to the country’s economy development, but in bringing it into the world leaders as well. (shrink)

The monograph reveals challenging issues of small and medium enterprises development in the European Union and East-Partnership countries. Special attention is paid to a new paradigm of financing investments and fostering innovations at all levels of legal entities including SMEs, enhancing innovative entrepreneurship in conditions of global social and technological challenges as well as determining priority sectors for small and medium enterprises as drivers of economic growth. The authors of the monograph emphasize on such European approaches to financing SMEs as (...) crowd-funding and SME-bonds, analyze experience of applying fiscal instruments to support investment and innovations. The researchers underline the role of social investment as an innovative strategy for European SMEs that could be applied in Ukraine and East-partnership countries, suggest new conceptual approach to the evaluation of innovative business development. They also analyse trends of Ukrainian IT enterprises development in the context of modern information services in a global market. Additional attention is paid to the analysis of SMEs’ entrepreneurial potential in conditions of global social and technological changes, estimation effects of applying electronic governance technologies to provide administrative services by public authorities of various levels of governance. Finally, the researchers disclose economic mentality of legal entities as an informal side of financial assets and substantiate the necessity of creation entrepreneurial universities as drivers of innovative development of economy. The materials of the monograph will be useful to scholars, financial managers of companies, financial analysts, representatives of state bodies who implement the state policy in the field of SMEs development in the East-partnership countries, as well as students of economic universities. (shrink)

This paper tackles the asymmetry of economic interests and geopolitics between developed and developing countries. Currently, the geopolitics presupposes that the majority of novel technologies are devised and designed in developed countries with their subsequent transfer to the developing countries. Moreover, in the context of the global crisis, the issue of de-dollarization is relevant from the political and economic points of view. Our specific focus is on the small oil countries and the issue how to get off the oil needle (...) in the painless way. Furthermore, the paper analyzes the rise of cryptocurrency that is envisaged as the substitute of the U.S. dollar which has been the world most dominating currency for the last several decades. This paper considers the global asymmetry which has the greatest impact on countries with economies dependent on energy exports. In the light of the diminishing returns from the sale of oil, we examine the ways for escaping this asymmetry. The authors consider the geopolitical asymmetry stemming from the dominance of the U.S. dollar, analyze the political situation and offer the pathways for the development of those economies where oil become an obstacle for economic development. The paper examines the ways of solving the above-mentioned problem by other states in detail and conduct the comparative analysis of the above issues in relation to the economy of Azerbaijan. From this case study we conduct a comparative analysis of the developed and developing countries taking into account the economic asymmetry and global economic and financial security. (shrink)

This paper focuses on the novel and leading innovations and investments into the new energy technologies. Energy issues, including sustainability, energy security and energy dependency are probably one of the most crucial and critical issues that humanity must face at the moment. Recent global challenges, such as climate change and the rise of the “green” energy (represented by the increasing deployment of the renewable energy sources (RES)), as well as distributed energy generation and platform energy markets (e.g. peer-to-peer (P2P) markets (...) for electricity) that were made possible thanks to the rise of Internet, social networks and sharing economy, all create a demand for the new energy technologies. The leaders in energy innovations, such as Tesla are becoming the true trendsetters who are marking the way for the humankind to go forward.We provide an overview of the innovative energy technologies that might change the energy market as we know it and discuss their outcomes and possible implications. Moreover, we contemplate the changes that might be caused by the ongoing transition from the fossil fuels to RES. Our results might be of some interests to researchers and stakeholders dealing with energy economics and policy. (shrink)

In recent years, there have been many reforms in the field of accounting. In the same time, scientists focus on the leading methods of accounting, financial management and economic opportunities for the additional use of accounting tools to introduce reforms in the field of the accounting of public sector entities. The main goal of this paper is to reveal the leading features of the accounting system of public sector entities and to study the aspects of a new accounting system, which (...) in the future can be implemented into the activities of public sector entities. The paper provides a scientific vision of the accounting reform of public sector entities. Our vision of forming a new accounting system in the public sector is based on the accounting model used in Italy and takes into account the peculiarities of the methodology and accounting organization in accordance with the International Accounting Standards. We highlight the main problems of introducing a new accounting system for public sector entities, based on the International Accounting Standards. In our opinion, this research can form new knowledge in the national literature on the accounting of public sector entities and highlight the main problems that arise while implementing accounting reforms. In addition, our research results can serve as a basis for the implementation of the accounting of public sector entities on the basis of International Accounting Standards for the public sector and the accrual principle. We believe that the main scientific aspects of public sector accounting will be the basis for future reforms based on the implementation of International Accounting Standards in the activities of public sector entities. (shrink)

The 21st century imposed many challenges on mankind, among them there is a very important problem of entrepreneurial leadership transformation. Entrepreneurship gradual modification under the pressure of factors of innovation, informatization of the environment and the need for socialization of the relations between businessmen and society has led to the need of new understanding of leadership positions. The purpose of this scientific research is to substantiate the style of entrepreneurial leadership, which will become dominant in the 21st century. Analyzing and (...) systematizing the scientific works of many modern scholars by the methods of theoretical synthesis, analysis and synthesis, we have solved the problems of entrepreneurial leadership transformation. The use of the historical and logical method has revealed the relationship between the entrepreneurial leadership development and entrepreneurial types. The study found that the global business environment requires new leaders, whose key competences will meet the needs of society, educational space, ethical requirements, etc. Studying the similarities and differences of various leadership styles has become the basis for the allocation of a new style – the leadership of conscious influence, the main characteristics of which are given in this research. In order to achieve the goals, set by the leader-entrepreneur, it is proposed to systematize the leadership opportunities on tactical and strategic, the factors of influence on their realization in the future are generalized. By the method of scientific and theoretical prediction the portrait of an entrepreneur in a global perspective has been formed. Prospects for further research in this area are the development of a methodology for evaluating the effectiveness of business leaders' actions and systematization of ways to increase their effectiveness in the future. (shrink)

he paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in its security was the result (...) of a complex interaction of external and internal factors, the main of which were tight government regulation, shifting the financial burden of social responsibilities to Ukrzaliznytsya, PJSC, lack of competition in the transportation of the main nomenclature of cargo and the unsatisfactory state of non-current assets. Based on the Argenti’s method, it is shown that the consequence of the inefficient financial management of Ukrzaliznytsia, PJSC are the reduction of its insolvency. Three main determinants of the financial security of rail enterprises were identified: a reduction in traffic volumes, an unstable capital structure and the impossibility of timely repayment of current liabilities. An additive model for assessing the impact of selected determinants on the level of financial security of Ukrzaliznytsia, PJSC is proposed. The analysis of the model parameters showed that the greatest impact has the index of industrial production, which is due to the predominant formation of its own financial resources of rail transport due to income from freight traffic. A complex of measures designed to improve the financial condition of rail enterprises was proposed. It is substantiated that in order to equalize existing threats, it is necessary to take political decisions aimed at improving the financial condition of Ukrzaliznytsia, PJSC by reducing the intensity of leaching of its financial resources, as well as implementing an anti-crisis finan. (shrink)

The focus of the research is to develop recommendations of smart specialization (SS) for Ukrainian policymakers using European approaches. The authors revealed that the main SS projects are presented in such sectors as agri-food, industrial modernization and energy. More than 12 EU countries were the plot for conducted analysis of SS, as a result of which the level of activity of each country was determined. The creation of consortiums, including SMEs, associations, universities and other participants, disclosed the successful way of (...) SS realization. The structure of SME’s innovative potential in Ukraine was identified underlining their main characteristic features like types of innovations and innovative activity, differentiation according to enterprise size, their regional distribution. The authors explored lack of innovations on regional and national level and significant territorial disparities, which could be eliminated through policy implementation of regional SS. The existing legislative norms for possibility of SS implementation in Ukraine were analyzed due to correspondence with the EU ones. The analysis provides the opportunity to consider them only as general framework documents without any action plans and sectoral prioritization at all. The weak points of these law documents are emphasized. As a result of research, the authors developed recommendations presented by direct action plan for Ukrainian policymakers, which include such activities as underlining key priorities (especially ICT applicability in every SS project) and their correspondence with the EU ones; eliminating regional imbalances by focusing on innovation development and reorientation of some regions according to SS priorities; respecting regional existing capacities; providing organizational mechanism for cooperation of stakeholders and financial mechanism for SS support through the EU structural funds. (shrink)

At the paper the dynamics of the development of the services market in Ukraine and its structure are analized. The influence of global economic processes on the services market has been studied. The concepts of "services" and "outsourcing" are characterized. Attention is paid to the development of services in the field of informatization and consulting. The main functions of information and consulting services in agriculture are defined. The purpose of the paper is to study and analyze the current state of (...) the Ukrainian market of services, its structure and dynamics of development, the definition of the dominant sectors of the market of services, as well as substantiation of the possibilities of using professional advisory services in agriculture. (shrink)

The paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in its security was the result (...) of a complex interaction of external and internal factors, the main of which were tight government regulation, shifting the financial burden of social responsibilities to Ukrzaliznytsya, PJSC, lack of competition in the transportation of the main nomenclature of cargo and the unsatisfactory state of non-current assets. Based on the Argenti’s method, it is shown that the consequence of the inefficient financial management of Ukrzaliznytsia, PJSC are the reduction of its insolvency. Three main determinants of the financial security of rail enterprises were identified: a reduction in traffic volumes, an unstable capital structure and the impossibility of timely repayment of current liabilities. An additive model for assessing the impact of selected determinants on the level of financial security of Ukrzaliznytsia, PJSC is proposed. The analysis of the model parameters showed that the greatest impact has the index of industrial production, which is due to the predominant formation of its own financial resources of rail transport due to income from freight traffic. A complex of measures designed to improve the financial condition of rail enterprises was proposed. It is substantiated that in order to equalize existing threats, it is necessary to take political decisions aimed at improving the financial condition of Ukrzaliznytsia, PJSC by reducing the intensity of leaching of its financial resources, as well as implementing an anti-crisis financial strategy aimed at optimizing the capital structure and financial rehabilitation of rail enterprises. (shrink)

The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches the management of innovative development the economic entities in order to increase the efficiency of activity, to ensure competitiveness, to intensify innovation activity. Basic research focuses on assessing the innovation processes, the fourth generation of new industrial revolution, diagnosis of sources of innovation financing, assessment of social innovations. The research results have been implemented in the different models of development innovation management, (...) renewable energy, introduction of start-up projects and lifelong learning. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities on an innovative basis. The results can also be used by students and young scientists in modern concepts and mechanisms for management of innovative development the economic entities in the context of efficient use the resource potential and improvement of innovation policy. (shrink)

Consistindo em um processo ético-jurídico de deliberação coletiva, o que se impõe à manifestação da Vontade Geral como um fenômeno histórico-cultural é a condição de imanência que a caracteriza em um movimento dinâmico-dialético que demanda uma formação econômico-social que possibilite a emergência de valores e práticas, condutas e comportamentos, necessidades e objetivos que, tendo como fundamento o interesse comum, se lhe correspondam, convergindo para uma forma de autodeterminação que guarda possibilidade de promover a superação da alienação das capacidades humanas no (...) contexto das relações socioprodutivas, a saber, a autogestão. Tal experiência social de autodeterminação coletiva, conforme assinala o artigo, envolve tanto a esfera política quanto o âmbito econômico e encerra a noção que implica desde a igualdade substancial até a efetiva participação política, sobrepondo-se ao viés mercadológico da organização econômico-social vigente e à estrutura burocrática corporificada pelo Estado no sistema capitalista. (shrink)

Israel Kirzner cautions us that, because commodity price arbitrage as such does not operate outside commodity markets, the logic of Pareto-improving entrepreneurship does not provide a “copybook example” for explaining the evolution of social institutions in general. He characterizes Menger’s theory of the emergence of money as non-entrepreneurial; by implication, while it assures us that some monetary standard will emerge, it does not assure us that a superior monetary standard will spontaneously emerge. I argue that entrepreneurial opportunities for private gain (...) do in fact drive the Mengerian evolution from barter to money, and systematically promote the emergence of superior monetary standards, though not necessarily the best conceivable standards. In choosing among potential exchange media to accept and offer, a pre-monetary trader has a private incentive to choose commodities that have whatever properties other traders prefer in their exchange media.Israel Kirzner nous met en garde sur le fait que parce que l’arbitrage des prix des marchandises en soi n’opère pas hors des marchés des produits, la logique de l’amélioration de l’esprit d’entreprise ne procure pas un “exemple classique” pour expliquer l’évolution des institutions sociales en général. Il caractérise la théorie mengerienne de l’émergence de la monnaie comme étant non entrepreneuriale; l’implication en est que si cette théorie nous assure qu’un certain étalon monétaire va émerger, elle ne peut affirmer avec certitude que cet étalon monétaire spontané sera supérieur.L’article suggère que des opportunités entrepreneuriales de gains privés orientent en effet l’évoluti- on décrite par Menger d’une situation de troc vers une économie monétaire et promeuvent systéma- tiquement l’émergence d’étalons monétaires supérieurs, bien que pas nécessairement les meilleurs étalons concevables. En choisissant parmi les intermédiaires d’échange potentiels lequel accepter ou offrir, un négociant d’avant l’ère monétaire a une insitation privée à choisir les marchandises dotées de propriétés que les autres négociants préfèrent dans le cadre de leurs échanges. (shrink)

New Approaches to Monetary Economics brings together presentations of innovative research in the field of monetary economics. Much of this research develops and applies approaches to modelling financial intermediation, aggregate fluctuations, monetary aggregation and transactions-motivated monetary equilibrium. The contents of this volume comprise the proceedings of the second in a conference series entitled International Symposia in Economic Theory and Econometrics. This conference was held in 1985 at the IC2 Institute at the University of Texas at Austin. The symposia in this (...) series are sponsored by the IC2 Institute and the RGK Foundation. New Approaches to Monetary Economics, edited by Professors William A. Barnett and Kenneth J. Singleton, consists of five parts. Part I examines transactions-motivated monetary holding in general equilibrium; Part II, financial intermediation; Part III, monetary aggregation theory, Part IV, issues in aggregate fluctuation; and Part V, theoretical issues in the foundations of monetary economics and macroeconomics. (shrink)

Following recent debates on the New Neoclassical Synthesis, the theory of monetary policy has been renewed. The prevailing method, illustrated by Woodford's version of Interest and Prices, is a Dynamic Stochastic General Equilibrium Model in which the old LM curve is voluntarily substituted by an optimal monetary rule. Such a turning point requires a peculiar set of assumptions, especially regarding monetary prices. The recent debate pays attention to de-emphasis on the nominal monetary aggregate, which does not play any explicit role (...) in monetary policy deliberations. Following Calvo's model, Woodford's neo-Wicksellian framework only considered monetary prices in equilibrium. This article demonstrates that even though the New Neoclassical Synthesis considers it essential to have a monetary theory for policymaking, the former offers the same answers as the traditional static macroeconomics. More precisely, it shows that the use of dynamic optimisation – such as the one developed by Woodford's approach – does not contribute in a decisive way to improving our understanding of the role that money prices play in monetary theory. Woodford's canvas is silent about the mechanisms whereby monetary policy induces agents to adjust individual money prices to the values that generate an equilibrium price level. Thus, if we want to close this gap, it may be useful to consider a 'forward guidance' strategy. By means of such a tool, central bankers are able to shape the public's expectations on economic outcomes by pre-announcing the time path of future policy actions. (shrink)

A recent trend in economics has been to appeal to evolutionary theory when addressing various open questions in the subject. I here further investigate one particular such appeal to evolutionary biology: the argument that, since markets select firms as coherent units, firms should be seen to be genuine economic agents. To assess this argument, I present a model of firm/office selection in a competitive market, and show that there are cases where markets can select for firms/offices as collective units – (...) and thus, as agents of their own – but also that there are cases where they do not. In this way, I try to make the evolutionary argument for the agency-based view of the firm more precise. (shrink)

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity (...) theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis. (shrink)