THE PROBLEMS OF ECONOMY №2-2018

The title and content

ABSTRACTS AND INFORMATION ABOUT AUTHORS

Section: World economy and international relations
UDC 661.65
Ballack Emad
The Medium-Term Forecast of the Development of Integration among Countries of the Middle East and North Africa (p. 8 - 15)
The aim of the article is to analyze the current stage in the development of integration among countries of the Middle East and North Africa (MENA). Systematizing and summarizing the works dedicated to the problems and prospects of their participation in regional integration groups (RIGs), there considered the possibilities of expanding trade and economic relations, which, together with the participation in the World Trade Organization, have provided an opportunity to forecast further development of foreign trade policies of these countries. As a result of the study, it is revealed that in general, MENA countries have similar development problems, which can be divided into two groups: general economic ones, which are associated with differences in the levels of economic development of Arab countries with different resource support, and institutional ones. It is proved that integration is not sufficiently well established and is still acting as a trend — MENA countries continue to implement various “catch-up” scenarios using traditional directions — access to markets and increased emphasis on trade. There analyzed key priorities of the development strategies of Saudi Arabia (Strategy 2025) and the UAE (Economic Vision of Abu Dhabi 2030), aimed at the modernization of the economies, their complete transition to renewable energies through introducing recent innovations, creation of a competitive private sector, increase of the significance of non-oil sectors of the economy that have competitive advantages. It is determined that the common feature for these strategies is that the main source of the modernization is public finance in the form of holding companies and public-private partnerships using BOT (build-operate-transfer) schemes with the participation of state capital in various sectors and the capabilities of “collaborative institutions”. And in the long run, regional integration will retain its priority over global liberalization. Further research will be related to the attempts of Arab scholars aimed at uniting Islam, the state, and the market economy of the Western type as the main condition for the further development of MENA countries.
Keywords: integration, regional integration group, Arab region, oil-exporting countries, forecast scenario, medium-term forecast.
Bibl.: 22.

Ballack Emad – Postgraduate Student, Department of International Business, Taras Shevchenko National University of Kyiv (60 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: emadballack@gmail.com

Reference to this article:
Ballack, Emad. (2018) “The Medium-Term Forecast of the Development of Integration among Countries of the Middle East and North Africa.” The Problems of Economy 2:8–15.

List of references in article

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Akimov, A., and Naumkin, V. “Perspektivy razvitiya situatsii v stranakh Blizhnego Vostoka do 2020 goda“ [Prospects for the development of the situation in the countries of the Middle East until 2020]. RSMD, 29.04.2013. http://russiancouncil.ru/inner/?id_4=1777#top-content

Section: World economy and international relations
UDC 339.98
Kalyuzhna N. H., Yakovchenko V. S.
Transparency in Interstate Trade and Economic Cooperation: Essence and Attributes (p. 16 - 23)
The aim of the article is to define attributes of transparency in interstate trade and economic cooperation as a set of its necessary and sufficient features, based on the study of approaches to the interpretation of the relevant term. The necessity of considering transparency as a fundamental principle in interstate trade and economic cooperation is substantiated. The approaches to interpreting transparency in the field of public administration and interstate cooperation are investigated. The functioning of the principle of transparency within the framework of activities of international organizations and the interpretation of the concept of transparency by domestic and foreign scientists are analyzed. The matrix of synonymy and secondariness of attributes of transparency and the hierarchy of the formation of attributive characteristics of transparency are developed. The attributes of transparency of trade and economic cooperation are defined as a set of its necessary and sufficient features. It is justified that transparency should be considered as a fundamental principle of interstate trade and economic cooperation, the main attributive characteristics of which are transparency, informative value, openness, publicity, and accountability. It is proved that the compliance of Ukraine’s foreign trade policy with certain attributes of transparency will contribute to predictability of foreign trade, openness of activities of participants in trade procedures, as well as economic growth, increase in competitiveness and financial stability of the state both at the national and international levels. There generalized an idea about the need to study theoretical and practical aspects of transparency in foreign trade policy of the state. Prospects for further research in this area are the assessment of possibilities for ensuring the compliance of Ukraine’s foreign trade policy with the attributes of transparency.
Keywords: transparency, trade and economic cooperation, foreign trade policy, hierarchy, attribute.
Fig.: 1. Tabl.: 2. Bibl.: 24.

Kalyuzhna Nataliya H. – Doctor of Sciences (Economics), Professor, Professor, Department of World Economy, State University of Trade and Economics / Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: n.kalyuzhna@knute.edu.ua
Yakovchenko Victoria S. – Postgraduate Student, Department of International Economic Relations, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: jinnikas@i.ua

Reference to this article:
Kalyuzhna, Nataliya H., and Yakovchenko, Victoria S. (2018) “Transparency in Interstate Trade and Economic Cooperation: Essence and Attributes.” The Problems of Economy 2:16–23.

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Section: World economy and international relations
UDC 330.59: 339.972
Opalko V. V.
The Ideology of Causes of Inequality and Contradictions of the Global Economic Development (p. 24 - 30)
The aim of the article is to identify and formalize causes and criteria of socio-economic inequality, develop an integral indicator of inequality under current conditions of global development using the criteria-based approach. There applied the following methods: the generalization and formalization methods – in studying causes of inequality, the methods of abstraction and mathematical analysis – in constructing the covariance matrix of inequality criteria. Based on the analysis, it is established that inequality results from specific economic and social conditions, has a multilevel structure and is a multidimensional category by origin. The causes of inequality are argued, including prestige of the profession, property status, wages, income, wealth, education, etc. Inequality is a relative assessment of development that is considered in the context of social and economic dimensions of development, which is associated with the distribution of wealth, property, capital, income, economic power, social services. It is established that the transformations taking place in the modern global world play an important role in changing the ideology of inequality. To calculate the integral index of socio-economic inequality, there proposed a criteria-based scientific methodological approach, which is adapted to the current conditions of development, uses a set of analytical indicators (decile and quintile coefficients; Gini, Palma, Keitz indices; happiness index, human development index) and can be applied at any level.
Keywords: socio-economic inequality, causes of inequality, matrix of inequality criteria, inequality indicators, income distribution, global development.
Tabl.: 3. Formulae: 3. Bibl.: 22.

Opalko Viktoriia V. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Economics and International Economic Relations, Cherkasy National University named after B. Khmelnitsky (81 Shevchenka Blvd., Cherkasy, 18031, Ukraine)
Email: Opalko633@gmail.com

Reference to this article:
Opalko, Viktoriia V. (2018) “The Ideology of Causes of Inequality and Contradictions of the Global Economic Development.” The Problems of Economy 2:24–30.

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Section: World economy and international relations
UDC 339.1
Rudyka V. I., Lelyuk O. V.
Generalizing the Results of Foresight Studies on the Development of Markets for Liquid Hydrocarbons across the World and Forming Consensus Forecast (p. 31 - 37)
The article is dedicated to the systematization of forecast trends in the development of liquid hydrocarbons across the world, as well as the formation of a consensus forecast for this area of energy use. There analyzed foresight studies carried out for individual organizations as well as the demand for liquid hydrocarbons, its consensus forecast being formed. The regional and sectoral structures of the world consumption of liquid hydrocarbons are determined, and their consensus forecasts are formed. The current trends in the consumption of liquid hydrocarbons and the extraction of crude oil are considered. The forecast trends in the expansion of the raw-material basket for the production of liquid hydrocarbons are analyzed. It is shown that the world oil production will remain the dominant source of supply of liquid hydrocarbons. The forecast of oil production in the world is formed. There carried out a comparative analysis of the data of different energy foresight studies on the world oil production. Using the consolidated forecast, its regional structure and consensus forecast are formed. Since forecasting oil prices is an integral part of making prognosis both of the market of liquid hydrocarbons and the entire energy landscape of the future, the forecasts of oil prices in the studies carried out for individual organizations are considered, and their consensus forecast is formed. Based on the study, the main trend in the sphere of liquid hydrocarbons and key trends in the long-term development of this sphere of energy use are highlighted. It is proved that the world oil market in the long term becomes even more concentrated, while the market for liquid hydrocarbons is undergoing significant diversification associated with the expansion of production and consumption of non-oil fuels. The low oil prices in the global market are revealed to be an obstacle to substitution of oil raw materials, as well as for the development of non-conventional oil resources.
Keywords: foresight, consensus forecast, liquid hydrocarbons, oil, oil production, oil consumption, electric power sector, energy resources, raw materials basket, structure, trends.
Fig.: 5. Tabl.: 3. Bibl.: 8.

Rudyka Viktor I. – Candidate of Sciences (Economics), Director, State Institute for designing enterprises of coke oven and by-product industry “GIPROKOKS” (60 Sumska Str., Kharkіv, 61002, Ukraine)
Lelyuk Oleksіy V. – Candidate of Sciences (Economics), Applicant, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)

Reference to this article:
Rudyka, Viktor I., and Lelyuk, Oleksіy V. (2018) “Generalizing the Results of Foresight Studies on the Development of Markets for Liquid Hydrocarbons across the World and Forming Consensus Forecast.” The Problems of Economy 2:31–37.

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Section: World economy and international relations
UDC 303.442:330.342:339.5
Khanin I. H., Polyakov M. V., Bilozubenko V. S.
On the Relationship between the Concepts of the Knowledge Economy and the Digital Economy in the Formation of a New Paradigm for the Development of the World Economy (p. 38 - 43)
Attention is focused on the fact that the modern world enters a period of complex transformations associated with overcoming the accumulated problems of an economic and non-economic nature as well as with the transition to a new paradigm for the development of the world economy. One of its foundations is the model of the knowledge economy. On the other hand, the progress of information and communication technologies (ICT) and their penetration into all spheres of society has created the conditions for the formation of the so-called digital economy. This also transforms modern economic systems and acquires global significance. As a result, the concepts of the knowledge economy and the digital economy intersect both in theory and in practice. The determination of their relationship is an actual scientific and practical problem from the point of view of explaining and forming the new paradigm for the development of the world economy. The essence and features of the knowledge economy as a new type of economy are specified in the article. It is substantiated that this term more fully and accurately reflects the specificity of the new stage of social development and becomes the basic one. The transformation influence of ICT on the modern economy, which leads to the formation of the digital economy, is noted. The essential features and characteristics of such an economy as a new functional model of the economic system are determined. The specifics of digital transformations changing the forms of economic organization are considered. An explanation of the relationship between the concepts of the knowledge economy and the digital economy and their complementarity in the formation of the new paradigm for the development of the world economy is presented. This is ensured by the fact that they change the models of economic growth; ensure structural and functional transformation of systems of social production; become the basis for the creation of new economic mechanisms. The expediency of implementing the provisions of the adopted Concept for the Development of the Digital Economy and Society of Ukraine for 2018-2020 is noted. It is suggested that such documents (in the field of digital economy development) be directed at building the infrastructure of the knowledge economy and ensuring its key processes, especially in the field of science and education.
Keywords: knowledge economy, world economy, information and communication technologies, digital economy.
Bibl.: 10.

Khanin Igor H. – Doctor of Sciences (Economics), Professor, Professor, Department of Business Economics and International Business, National University of Water Management and Natural Resources Use (11 Soborna Str., Rivne, 33028, Ukraine)
Email: i.h.khanin@nuwm.edu.ua
Polyakov Maxim V. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Business Economics and International Business, National University of Water Management and Natural Resources Use (11 Soborna Str., Rivne, 33028, Ukraine)
Email: m.v.poliakov@nuwm.edu.ua
Bilozubenko Volodymir S. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of International Economic Relations, Regional Studios and Tourism, University of Customs and Finance (2/4 Volodymyra Vernadskoho Str., Dnipro, 49004, Ukraine)
Email: bvs910@gmail.com

Reference to this article:
Khanin, Igor H., Polyakov, Maxim V., and Bilozubenko, Volodymir S. (2018) “On the Relationship between the Concepts of the Knowledge Economy and the Digital Economy in the Formation of a New Paradigm for the Development of the World Economy.” The Problems of Economy 2:38–43.

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Carlsson, B. “The Digital Economy: what is new and what is not?“ Structural Change and Economic Dynamics vol. 15, no. 3 (2004): 245-264.
Karcheva, H. T., Ohorodnia, D. V., and Openko, V. A. “Tsyfrova ekonomika ta yii vplyv na rozvytok natsionalnoi ta mizhnarodnoi ekonomiky“ [The digital economy and its impact on the development of national and international economics]. Finansovyi prostir, no. 3 (27) (2017): 13-21.
Dzhusov, O. A., and Apalkov, S. S. “Tsyfrova ekonomika: strukturni zrushennia na mizhnarodnomu rynku kapitalu“ [Digital economy: structural changes in the international capital market]. Mizhnarodni vidnosyny. Ser. : Ekonomichni nauky. 2016. http://journals.iir.kiev.ua/index.php/ec_n/article/view/3058/2746
Kraus, N. M., Holoborodko, O. P., and Kraus, K. M. “Tsyfrova ekonomika: trendy ta perspektyvy avanhardnoho kharakteru rozvytku“ [Digital economy: trends and prospects for the avant-garde character of development]. Efektyvna ekonomika. 2018. http://www.economy.nayka.com.ua/pdf/1_2018/8.pdf
[Legal Act of Ukraine] (2018). http://zakon3.rada.gov.ua/laws/show/67-2018-%D1%80#n1

Section: Economics and national economy management
UDC 338.45.01 (061.1ЄС)
Tsyplitska O. O., Yanenkova I. G.
Industrial Policy of the European Union: Institutional Preconditions for Formation and Features of Realization (p. 44 - 50)
The aim of the article is to determine the socio-economic, political and institutional prerequisites for the formation of EU industrial policy and the specifics of its implementation. It is determined that industrial policy is one of the main priorities of the economic development of EU countries and the key focus of the Europe 2020 strategy. EU industrial policy was formed under the influence of the growing competition in the world market, the need to realize the idea of uniting European countries with a view to ensuring the stability of the political situation. Deepening the democratic foundations of government, expanding the rights and freedoms of citizens, the need for convergence of economic development with increasing number of members of the community have become new challenges for the formation of a single internal market and ensuring the competitiveness of EU industrial enterprises. As a result, the developed model of industrial policy has focused on supporting a favorable environment for the development of small and medium-sized businesses, developing and implementing innovative technologies, creating equal opportunities in a competitive environment (horizontal industrial policy) as opposed to sectoral policies and reducing state support for individual industries, ensuring the implementation of framework agreements. The most successful practices of using the model of EU industrial policy, aimed at creating favorable conditions to increase the competitiveness of industrial enterprises, can be used to elaborate Ukraine’s industrial development strategy.
Keywords: industrial policy, European Union, institutional factors, industrial development strategy, competitiveness of the economy.
Fig.: 1. Bibl.: 11.

Tsyplitska Olena O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economic Theory and International Economics, Petro Mohyla Black Sea National University (10 68 Desantnykіv Str., Mykolaiv, 54003, Ukraine)
Email: o.liakhovetz@gmail.com
Yanenkova Iryna G. – Doctor of Sciences (Economics), Associate Professor, Leading Researcher, Sector of the Digital Economy, Institute for Economics and Forecasting of NAS of Ukraine (26 Panasa Myrnoho Str., Kyiv, 01011, Ukraine)
Email: 777fler@gmail.com

Reference to this article:
Tsyplitska, Olena O., and Yanenkova, Iryna G. (2018) “Industrial Policy of the European Union: Institutional Preconditions for Formation and Features of Realization.” The Problems of Economy 2:44–50.

List of references in article

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Deineko, L. “Stratehichni varianty neoindustrialnoi transformatsii promyslovoho potentsialu“ [Strategic variants of neo-industrial transformation of industrial potential]. Modernizatsiia upravlinnia natsionalnoiu ekonomikoiu. Kyiv: KNEU, 2016. 76-81.
Kruhlashov, A. et al. Yevropeiska intehratsiia na pochatku novoho tysiacholittia [European integration at the beginning of the new millennium]. Part 1. Chernivtsi, 2010.
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Khaustova, V. Ye. “Promyslova polityka v Ukraini v umovakh intehratsii ta hlobalizatsii ekonomiky“ [Industrial policy in Ukraine in terms of integration and globalization of the economy]: dys. … d-ra ekon. nauk : 08.00.03, 2015.
Ambroziak, A. A. “Renaissance of the European Union's industrial policy“ Yearbook of Polish European Studies vol. 17/2014 (2014): 37-58.
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Section: Economics and national economy management
UDC 338.23; 338.1
Bocharova Y. G.
Determinants and Imperatives of the Innovation Infrastructure Development in the Context of Globalization (p. 51 - 57)
The article systematizes approaches to classifying factors (determinants) of the innovation infrastructure development. It is determined that the classification of the innovation infrastructure determinants based on the synthesis of position and specificity criteria has the greatest theoretical and practical value. Using the proposed approach to classifying factors of innovation infrastructure, there determined universal external factors, universal internal factors, specific external factors, specific internal factors of the innovation infrastructure development. The most important universal external factors that have a multi-vector, systemic influence on the development of a country’s innovation infrastructure at the current stage of the development of the world economy and international economic relations are: 1) the transition from an industrial to a postindustrial society and, as a result, the active development of information and communication technologies; 2) globalization, accompanied by an increase in global interaction, changes in the nature of the interdependence of countries (neo-dependence), etc. The most important for the innovation infrastructure development external factors are the condition, features and potential of the development of the national innovation system, the effectiveness of the state innovation policy and financial support. The most important for the innovation infrastructure development universal internal factors are the condition and features of its architecture. The most important for the innovation infrastructure development internal factors are the condition and specific features in the formation of individual elements of the innovation infrastructure. Based on the analysis of the determinants and specifics of the context of the innovation infrastructure development, the imperatives of its formation in the context of globalization are determined.
Keywords: factor, determinant, imperative, innovation infrastructure, globalization.
Fig.: 1. Bibl.: 23.

Bocharova Yuliia G. – Candidate of Sciences (Economics), Associate Professor, Director, Educational and Scientific Institute of Economics and Entrepreneurship, Donetsk National University of Economy and Trade named after M. Tugan-Baranovsky (16 Tramvaina Str., Kryvyi Rih, Dnipropetrovsk region, 50005, Ukraine)
Email: bocharova@donnuet.edu.ua

Reference to this article:
Bocharova, Yuliia G. (2018) “Determinants and Imperatives of the Innovation Infrastructure Development in the Context of Globalization.” The Problems of Economy 2:51–57.

List of references in article

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Safronova, A. A., Drozdov, V. F., and Panteleyev, A. M. Innovatsionnaya infrastruktura: metodologiya formirovaniya i razvitiya [Innovative infrastructure: the methodology of formation and development]. Moscow: Paleotip, 2007.
Waheed, A. “Innovation Determinants and Innovation as a Determinant: Evidence from Developing Countries“ Maastricht University, Maastricht, Netherlands. https://www.merit.unu.edu/training/theses/Waheed_abdul.pdf
Itskovits, G. “Troynaya spiral. Universitety - predpriyatiya - gosudarstvo. Innovatsii v deystvii“ [Triple helix. Universities - enterprises - the state. Innovation in action]. http://old.tusur.ru/export/sites/ru.tusur.new/ru/innovation/triplehelix/ickovic.pdf
Furman, J., Porter, M., and Stern, S. “The determinants of national innovative capacity“ http://questromworld.bu.edu/jefffurman/files/2012/05/FPS-National-Innovative-Capacity-RP-2002.pdf
“Promising practices in building innovation infrastructure the role of innovation brokers“ http://www.coecon.com/assets/roleinnovationbrokers.pdf
Simchenko, N. O., and Mokhonko, H. A. “Chynnyky rozvytku innovatsiino oriientovanoho suspilstva“ [Factors of development of innovation-oriented society]. Ekonomika. Upravlinnia. Innovatsii. Seriia : Ekonomichni nauky. 2011. http://www.irbis-nbuv.gov.ua/cgi-bin/irbis_nbuv/cgiirbis_64.exe?C21COM=2&I21DBN=UJRN&P21DBN=UJRN&IMAGE_FILE_DOWNLOAD=1&Image_file_name=PDF/eui_2011_2_48.pdf
Britko, A. S. “Teoreticheskiye osnovy otsenki effektivnosti proektov innovatsionnogo razvitiya ekonomicheskikh sistem: faktory, problemy, metodicheskiye podkhody, printsipy“ [Theoretical bases of an estimation of efficiency of projects of innovative development of economic systems: factors, problems, methodical approaches, principles]. Vestnik Leningradskogo gosudarstvennogo universiteta im. A. S. Pushkina. Seriya: Ekonomika, no. 1 (6) (2013): 97-110.
“Kerivnytstvo z metodolohii innovatsii. Prosuvannia innovatsii u promyslovii informatytsi ta v sektorakh vbudovanykh system za dopomohoiu stvorennia merezh“ [Guidance on Innovation Methodology. Advancement of innovations in industrial computer science and in the sectors of embedded systems through the creation of networks]. http://www.i3e.eu/innovation/MGI_low_UA.pdf
Anilionis, G. P., and Zotova, N. A. Globalnyy mir: yedinyy i razdelennyy. Evolyutsiya teoriy globalizatsii [The global world: one and divided. Evolution of theories of globalization]. Moscow: Mezhdunar. otnosheniya, 2005.
Filipenko, A. S. Hlobalni formy ekonomichnoho rozvytku: istoriia i suchasnist [Global forms of economic development: history and modern times]. Kyiv: Znannia, 2007.
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“KOF Globalisation Index - KOF Swiss Economic Institute | ETH Zurich“ http://globalization.kof.ethz.ch/
Reznikova, N. V. “Paradyhma ekonomichnoi neozalezhnosti krain v umovakh hlobalizatsii“ [Paradigm of economic neodependency of countries in the conditions of globalization]: avtoref. dys. … d-ra ekon. nauk 08.00.02, 2014.
Bolshoy ekonomicheskiy slovar [Great economic dictionary]. Moscow: In-t novoy ekonomiki, 2008.
Lobova, S. V. “Podkhod k organizatsii vybora modeli vzaimodeystviya uchastnikov rynka“ [Approach to the organization of the choice of the model of interaction of market participants]. Vestnik Voronezhskogo gosudarstvennogo universiteta. Seriya : Ekonomika i upravleniye, no. 4 (2014): 174-180.
Rekova, N. Yu. “Genezis issledovaniya vzaimodeystviy v ekonomike“ [Genesis of the study of interactions in the economy]. Naukovyi visnyk Chernihivskoho derzhavnoho instytutu ekonomiky i upravlinnia, no. 3 (4) (2009): 103-115.

Section: Economics and national economy management
UDC 332.1:519.237
Ivanova N. S.
An Empirical Study of Economic Security of Regions in the Aspect of Ensuring Security of the National Economy (p. 58 - 65)
The aim of the article is an empirical study of economic security of Ukraine’s regions based on the developed canonical models. To investigate and systematize factors of regional economic security, methods of theoretical generalization are employed. Methods of system analysis, namely the method of canonical analysis, are used to identify latent factors ensuring effective management of regional economic security and develop forecast models of economic security in the regions. The method of comparison has enabled determining the general and distinguishing features of the results of calculating the economic security of the regions based on the two models. The application of the method of canonical analysis to estimating the data on socio-economic development of Ukraine’s regions for 2008-2015 allowed to develop models to forecast economic security of the regions. The results of the canonical analysis indicate that 97.08 % of the variation in the effective indicators of regional economic security is due to variations in the eleven symptom factors. The developed models for assessing regional economic security ZYi (by partial characteristics) and ZXi (by symptom factors) are correct and have a close relationship, which is confirmed by the value of the correlation coefficient (0.97). The applied nature of the proposed models is justified by their practical implementation based on the actual data of social and economic development of Ukraine’s regions for 2008-2016. The introduction of the developed models made it possible to determine that Dnipropetrovsk region has the best state of economic security by the results of 2016, and Lugansk region is the worst in terms of this indicator. In further research, it is appropriate to determine criteria for assessing economic security of the regions, build a matrix of regional economic security, and to formulate the characteristics of their economic security states.
Keywords: economic security of a region, canonical analysis, forecasting, growth rates, dynamics.
Fig.: 5. Tabl.: 2. Formulae: 5. Bibl.: 11.

Ivanova Natalia S. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Marketing, Management and Public Administration, Donetsk National University of Economy and Trade named after M. Tugan-Baranovsky (16 Tramvaina Str., Kryvyi Rih, Dnipropetrovsk region, 50005, Ukraine)
Email: ivanova@donnuet.edu.ua

Reference to this article:
Ivanova, Natalia S. (2018) “An Empirical Study of Economic Security of Regions in the Aspect of Ensuring Security of the National Economy.” The Problems of Economy 2:58–65.

List of references in article

Heiets, V. M. et al. Modeliuvannia ekonomichnoi bezpeky: derzhava, rehion, pidpryiemstvo [Modeling of economic security: state, region, enterprise]. Kharkiv: VD «INZhEK», 2006.
Sukhorukov, A. I., Moshenskyi, S. Z., and Petruk, O. M. Natsionalna ekonomichna bezpeka [National economic security]. Zhytomyr: Ruta, 2010.
Holovchenko, O. M. Ekonomichna bezpeka rehionu v harantuvanni stabilnosti natsionalnoi ekonomiky [Economic security of the region in guaranteeing the stability of the national economy]. Odesa: Bukaiev V. V., 2008.
Babets, I. H. “Vyrobnycho-tekhnolohichni zahrozy ekonomichnii bezpetsi rehionu v umovakh interrehionalnoho spivrobitnytstva“ [Industrial and technological threats to the economic security of the region in conditions of interregional cooperation]. Naukovyi visnyk Lvivskoho derzhavnoho universytetu vnutrishnikh sprav. Seriia ekonomichna, no. 2 (2012): 199-209.
Bohdan, N. M. “Otsiniuvannia rivnia finansovo-ekonomichnoi bezpeky rehioniv Ukrainy: metodolohiia i praktyka“ [Assessment of the level of financial and economic security of Ukrainian regions: methodology and practice]. Problemy ekonomiky, no. 1 (35) (2018): 142-149.
Kozachenko, H. V., and Bukolova, V. V. “Analiz pidkhodiv do otsiniuvannia sotsialno-ekonomichnoi bezpeky rehionu“ [Analysis of approaches to assessing the socio-economic security of the region]. Problemy ekonomiky, no. 1 (35) (2018): 150-157.
Pilko, A. D., and Savchuk, N. V. “Modeliuvannia protsesu otsiniuvannia rivnia ekonomichnoi bezpeky rehionu“ [Modeling the process of assessing the level of economic security in the region]. Biznes Inform, no. 8 (2015): 77-84.
Ivanova, N. S. “Identyfikatsiia latentnykh chynnykiv efektyvnoho upravlinnia rehionalnoiu ekonomichnoiu bezpekoiu“ [Identification of latent factors of effective management of regional economic security]. Naukovyi visnyk DonNUET, no. 1 (66) (2017): 83-91.
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Statystychnyi zbirnyk «Rehiony Ukrainy 2017» [Statistical collection "Regions of Ukraine 2017"]. Part 1. Kyiv: Derzhavna sluzhba statystyky Ukrainy, 2017.

Section: Economics of Natural Resources and Environment
UDC 338.012
Kyzym M. O., Yaroshenko I. V.
Instruments of Forestry Policy in Ukraine (p. 66 - 70)
The aim of the article is to study the theoretical bases and develop practical recommendations for the improvement of forestry policy instruments in Ukraine. The theoretical aspects of forming the forestry policy in Ukraine aimed at ensuring the competitiveness of the forestry sector are considered. The formulation of the forestry policy should be carried out with regard to following principles: openness; consideration for the interests of all stakeholders; coherence of the forestry policy with the policies of other sectors of the economy; application of the scientific approach for the selection of priority areas for developing the forestry sector. The effectiveness of forestry policy in many respects depends on the correct selection and consistency of the use of the relevant instruments. Forestry policy can be considered effective, provided that the set goals and objectives are achieved, it is successfully implemented in practice through applying its effective instruments. To evaluate the effectiveness of forestry policy and its instruments, it is proposed to conduct three types of analysis: preliminary, current and retrospective. There carried out classification of forestry policy instruments by breaking them down into following groups: legal, administrative, market, fiscal, financial, sanction and informational ones.
Keywords: forestry policy, forestry sector, forestry policy instruments, state regulation.
Tabl.: 1. Bibl.: 11.

Kyzym Mykola O. – Doctor of Sciences (Economics), Professor, Corresponding Member of NAS of Ukraine, Chief research scientist, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: m.kyzym@gmail.com
Yaroshenko Ivan V. – Doctor of Sciences (Economics), Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: ivan.yaroshenko@gmail.com

Reference to this article:
Kyzym, Mykola O., and Yaroshenko, Ivan V. (2018) “Instruments of Forestry Policy in Ukraine.” The Problems of Economy 2:66–70.

List of references in article

Bondar, V. “Lisove hospodarstvo potrebuie dodatkovykh investytsii“ [Forestry requires additional investment]. Sait Ukrainskoho lisovoho portalu. https://www.lisportal.org.ua/32702/
Drebot, O. “Sutnist lisovoho kompleksu: teoretychni ta metodolohichni aspekty“ [The essence of the forest complex: theoretical and methodological aspects]. Ekonomist, no. 10 (2011): 14-16.
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Kotyhrobova, O. V. “Sutnisna kharakterystyka «instytut» ta «instytutsiia» v teorii innovatsii“ [Essential characteristic of "institute" and "institution" in the theory of innovations]. https://www.sworld.com.ua/index.php/uk/economy-311/economic-theory-and-history-311/7510-description-of-understanding-sutnsna-qnstitutq-ta-qnstitutsyaq-in-teor-nnovatsy
Drebot, O. I., and Zadachyna, S. O. “Metodolohichni osnovy instytutsionalnoho zabezpechennia zbalansovanoho rozvytku lisovoho sektora ekonomiky“ [Methodological bases of institutional provision of balanced development of the forest sector of the economy]. Zbalansovane pryrodokorystuvannia, no. 4 (2013): 10-16.
“Lisova polityka Ukrainy. Umovy realizatsii ta priorytety“ [Forest Policy of Ukraine. Implementation conditions and priorities]. https://www.lisportal.org.ua/232/
Polyovskyi, A. M. “Ekoloho-ekonomichni zasady udoskonalennia natsionalnoi lisovoi polityky“ [Ecological and economic principles of improvement of national forest policy]: avtoref. dys. … kand. ekon. nauk : 08.00.06, 2008.
Syniakevych, I. M. Lisova polityka [Forest policy]. Lviv: IZMN, 2005.
Syniakevych, I. M. “Lisova polityka u konteksti hlobalnykh i natsionalnykh problem pryrodokorystuvannia“ [Forest policy in the context of global and national environmental problems]. Naukovyi visnyk NLTU Ukrainy, no. 18. 12 (2008): 33-37.
Babkevych, U. P. “Teoretychne obgruntuvannia systemy instrumentiv lisovoi polityky dlia stymuliuvannia vyrobnychoi diialnosti, shcho spryiaie parnykovopohlynaiuchii spromozhnosti lisovykh ekosystem“ [Theoretical substantiation of the system of tools of forest policy for stimulation of production activity, which promotes greenhouse-absorbing ability of forest ecosystems]. http://www.agrosvit.info/pdf/16_2013/12.pdf
Melnyk, S. O. “Teoretychni zasady formuvannia lisovoi polityky Ukrainy“ [Theoretical foundations of forest policy formation in Ukraine]. Naukovyi visnyk, no. 14. 2 (2004): 90-97.

Section: Economics and national economy management
UDC 330.131.5:334.012.64
Kyzym M. O., Chechetovа-Terashvili T. M.
A Methodological Approach to Integral Assessment of the Development Level of Small and Medium-Sized Enterprises in the Ukrainian Economy (p. 71 - 79)
The article states that the development of small and medium-sized enterprises (SMEs) is an important prerequisite for the stable functioning of the country’s economy, a source of providing jobs for its citizens, a guarantee of their financial well-being, the basis for the middle class formation. The aim of the article is to develop a methodological approach to integral assessment of the level of SME development in the Ukrainian economy. The article examines the existing methodological approaches to assessing the level of development and significance of SMEs and suggests a methodological approach based on the relevant system of indicators that can be calculated using available official statistical information and form the components of an integral indicator characterizing various aspects of the SME development in Ukraine (the development dynamics and significance for the economy). Using the proposed approach, an integral indicator for assessment of the level of development and significance of SMEs by economic activity (EA) and, in general, in the economy of Ukraine, as well as by its components, is calculated. On the basis of the conducted research, it is established that in 2012-2015 the majority of economic activities of the country had a disproportionate correlation between the dynamics of development and the significance of SMEs, which had a negative impact on the level of social and economic development of Ukraine as a whole.
Keywords: small and medium-sized enterprise, integral assessment, types of economic activity, level of development, significance for the economy, dynamics of development.
Fig.: 5. Tabl.: 4. Formulae: 1. Bibl.: 13.

Kyzym Mykola O. – Doctor of Sciences (Economics), Professor, Corresponding Member of NAS of Ukraine, Chief research scientist, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: m.kyzym@gmail.com
Chechetovа-Terashvili Tetiana M. – Candidate of Sciences (Economics), Associate Professor, Applicant, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: ivanosha@mail.ru

Reference to this article:
Kyzym, Mykola O., and Chechetovа-Terashvili, Tetiana M. (2018) “A Methodological Approach to Integral Assessment of the Development Level of Small and Medium-Sized Enterprises in the Ukrainian Economy.” The Problems of Economy 2:71–79.

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Biloshkurskyi, M. V. Metodolohiia otsinky efektyvnosti hospodarskoi diialnosti v antykryzovomu upravlinni pidpryiemstvamy [Methodology for evaluating the effectiveness of economic activity in crisis management of enterprises]. Uman: Vydavets «Sochinskyi», 2010.
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Liman, I. A., and Goldman, I. Yu. “Indikatory deyatelnosti srednego biznesa kak element otsenki effektivnosti regionalnogo upravleniya“ [Indicators of medium-sized business as an element of assessing the effectiveness of regional management]. Vestnik Chelyabinskogo gosudarstvennogo universiteta. Ekonomika issue 45, no. 15 (344) (2014): 108-115.
Kremin, A. Ye. “Metodika otsenki funktsionirovaniya malogo predprinimatelstva na munitsipalnom urovne“ [Methodology for assessing the functioning of small businesses at the municipal level]. Ekonomicheskiye i sotsialnyye peremeny: fakty, tendentsii, prognoz, no. 3 (45) (2016): 231-247.
Pyvovarov, M. H. “Stratehiia rozvytku maloho pidpryiemnytstva yak skladovoi natsionalnoi ekonomiky“ [Small business development strategy as a component of the national economy]: avtoref. dys. … d-ra ekon. nauk : 08.00.03, 2011.
Yakusheva, O. V. “Metodychni pidkhody do otsinky ekonomichnoho rozvytku maloho i serednyoho biznesu v rehionakh Ukrainy“ [Methodical approaches to the assessment of the economic development of small and medium-sized businesses in the regions of Ukraine]. Visnyk Pryazovskoho derzhavnoho tekhnichnoho universytetu. Ser. : Ekonomichni nauky, no. 33 (2017): 145-152.
“Metody analiza razvitiya malogo biznesa“ [Methods of analysis of small business development]. USAID. http://atameken.kz/uploads/content/files/uploads/content/files/Методы%20анализа%20развития%20малого%20бизнеса_C.pdf.pdf
Pleshakova, M. V. “Analiz biznes-sredy malogo predprinimatelstva Krasnodarskogo kraya posredstvom sistemy integralnykh pokazateley“ [Analysis of the business environment of small business of the Krasnodar Territory through a system of integrated indicators]. Vestnik Volgogradskogo gosudarstvennogo universiteta. Seriya 3. Ekonomika. Ekologiya, no. 6 (29) (2014): 65-72.
Bykova, N. V. “Sovremennyy podkhod k otsenke effektivnosti gosudarstvennoy podderzhki malogo predprinimatelstva“ [The modern approach to an estimation of efficiency of the state support of small business]. Vestnik LGU im. A. S. Pushkina vol. 6 : Ekonomika i ekonomicheskiye nauki, no. 4 (2014): 107-115.

Section: Economics and national economy management
UDC 338.242.4
Koliesnichenko A. S.
Institutional Determinants of Antimonopoly Regulation of Relationships among Entities in the Electricity Market (p. 80 - 87)
The analysis carried out in the article shows that under present economic conditions the concentration of large business structures in the generation sector of the energy market in Ukraine, revealing the problems of demonopolization of the essence of relationships among the entities in the industry, is based on the institutional nature of determinants of antimonopoly regulation. The key tasks of the antimonopoly bodies include the definition of a monopolist in a market and the development of adequate effective measures aimed at regulating its functioning and relationships with other market entities on a parity basis. Given this, the formation of dominance criteria with the help of different indices and parameters plays an important role in the production of institutional levers of regulation. The comparative analysis of the results of applying the dominance criterion and the Herfindahl-Hirschman index, using the example of entities in the generation sector of the electricity market, allows to conclude that the approach to developing an antimonopoly leverage should be weighed and justified, with regard to the complex vision of the determinants that are used in measuring the degree of market specificity and form institutional prerequisites for building a competitive model of relationships among participants in the market.
Keywords: concentration, antimonopoly regulation, relationships among entities in the electricity market, institutionalism.
Fig.: 3. Tabl.: 3. Formulae: 2. Bibl.: 17.

Koliesnichenko Anastasiia S. – Assistant, Department of Economic Analysis and Accounting, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: anastasihpi@gmail.com

Reference to this article:
Koliesnichenko, Anastasiia S. (2018) “Institutional Determinants of Antimonopoly Regulation of Relationships among Entities in the Electricity Market.” The Problems of Economy 2:80–87.

List of references in article

“Zvit Antymonopolnoho komitetu Ukrainy za 2016“ [Report of the Antimonopoly Committee of Ukraine for 2016]. http://www.amc.gov.ua/amku/doccatalog/document?id=134668&schema=main
[Legal Act of Ukraine] (2001). http://zakon3.rada.gov.ua/laws/show/2210-14
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Agabekov, S. I., and Levina, Ye. A. “Kriteriy dominirovaniya i indeks Gerfindalya-Girshmana. Sravnitelnyye kharakteristiki i prakticheskoye primeneniye dlya ugolnogo rynka Rossii“ [The dominance criterion and the Herfindahl-Hirschman index. Comparative characteristics and practical application for the Russian coal market]. Sovremennaya konkurentsiya, no. 6 (2014): 5-19.
Afanasev, S. V. “Institutsionalizm: sobstvennyy vzglyad na traditsionnuyu ekonomicheskuyu filosofiyu i rol monopoliy“ [Institutionalism: its own view of traditional economic philosophy and the role of monopolies]. Vestnik Finansovoy akademii, no. 2 (2003): 24-31.
Ekonomicheskaya kontsentratsiya: opyt ekonomiko-pravovogo issledovaniya rynochnykh i yuridicheskikh konstruktsiy [Economic concentration: experience of economic and legal research of market and legal constructions]. Moscow: Yustitsinform, 2016.
Kozlova, K. B. Institutsionalizm v amerikanskoy politicheskoy ekonomii: Ideyno-teoreticheskiye osnovy liberalnogo reformizma [Institutionalism in American Political Economy: Ideological and Theoretical Foundations of Liberal Reformism]. Moscow: Nauka, 1987.
Malyi, I. I. Derzhava i rynok: filosofiia vzaiemodii [State and market: the philosophy of interaction]. Kyiv: KNEU, 2005.
Segall, Ya. “Institutsionalnaya shkola i yee predstavitel Dzhon Kommons“ [Institutional school and its representative John Commons]. Problemy ekonomiki, no. 4 (1935): 166-177.
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Landes, W., and Posner, R. “Market power in antitrust cases“ Harvard Law Review vol. 94 (1981): 937-996.
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Section: Economics and national economy management
UDC 351:331.101.262
Kuzmin O. Y., Shakhno A. Y.
The National Model of State Regulation of Human Capital Development under Conditions of Global Competition (p. 88 - 97)
The aim of the article is to study the role of the state in and its influence on the processes of formation, reproduction and development of human capital in the context of globalization. Attention is focused on the fact that human capital is a key factor that will allow the country to accelerate the pace of integration into the world economic space. It is determined that currently in Ukraine, with the economy of innovative development, built on the knowledge economy, being the country’s priority and strategic course, unfavorable conditions for the preservation and reproduction of competitive human capital have developed. The authors present the definition of the category “human capital in the context of globalization”. It is substantiated that state regulation of human capital development should be considered in terms of the impact of globalization processes and taking into account national strategies. The instruments of influence and principles of building the system of state regulation of human capital development are determined. The volume of financing and share of the State budget expenditures on education, health care, and spiritual and physical development are analyzed. It is indicated that there is a gradual decrease in the state spending on the development of human capital, which is a negative trend. It is noted that the decline in the standard of living of human capital leads to intensification of migration processes and intellectual capital outflow abroad. A national model of state regulation of human capital development under conditions of global competition is developed and proposed. To improve the effectiveness of the implementation of the state policy and minimize losses related to intellectual capital outflow, there proposed a set of measures on the part of the state to improve the regulation of human capital development in the country. Prospects for further research are to determine the impact of innovative components of state regulation mechanisms in the areas of activity that in the future could substantially improve the quality of human capital and increase the country’s human capital index.
Keywords: state regulation, human capital, investment, model, globalization.
Fig.: 3. Tabl.: 6. Bibl.: 10.

Kuzmin Oleh Ye. – Doctor of Sciences (Economics), Professor, Director, Scientific-Educational Institute of Economics and Management of the Lviv Polytechnic National University (5 Mytropolyta Andreia Str., Lviv, 79013, Ukraine)
Email: oleh.y.kuzmin@lpnu.ua
Shakhno Alona Yu. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics, Organization and Management of Enterprises, Kryvyi Rіh National University (11 Vitaliia Matusevycha Str., Kryvyi Rіh, Dnіpropetrovsk region, 50027, Ukraine)
Email: alyonashakhno@gmail.com

Reference to this article:
Kuzmin, Oleh Ye., and Shakhno, Alona Yu. (2018) “The National Model of State Regulation of Human Capital Development under Conditions of Global Competition.” The Problems of Economy 2:88–97.

List of references in article

Hlobalizatsiia i bezpeka rozvytku [Globalization and development security]. Kyiv: KNEU, 2001.
Martynova, L. B. “Problemy zabezpechennia konkurentospromozhnosti liudskoho kapitalu Ukrainy“ [Problems of ensuring the competitiveness of Ukraine's human capital]. Visnyk ZhDTU. 2017. http://ven.ztu.edu.ua/article/view/96693
“Pozytsiia Ukrainy v reitynhu krain svitu za indeksom hlobalnoi konkurentospromozhnosti 2017-2018“ [The position of Ukraine in the world ranking according to the Global Competitiveness Index 2017-2018]. Ekonomichnyi dyskusiinyi klub. http://edclub.com.ua/analityka/pozyciya-ukrayiny-v-reytyngu-krayin-svitu-za-indeksom-globalnoyi konkurentospromozhnosti-2
“The Human Capital Index 2017: Ukraina obognala vsekh sosedey, krome RF“ [The Human Capital Index 2017: Ukraine overtook all its neighbors, except the Russian Federation]. Liha. net (26.09. 2017). http://www.liga.net/all/infografica/the-human-capital-index-ukraina-obognala-vsekh-sosedey-krome-rf
“The Global Human Capital Report 2017“ World Economic Forum. http://www3.weforum.org/docs/WEF_Global_Human_Capital_Report_2017.pdf
Skyba, S. A. “Teoretyko-metodolohichni aspekty derzhavnoho rehuliuvannia rozvytku liudskoho potentsialu“ [Theoretical and methodological aspects of state regulation of human potential development]. Zbirnyk naukovykh prats Tavriiskoho derzhavnoho ahrotekhnolohichnoho universytetu (Ekonomichni nauky). 2014. http://journal.tsatu.edu.ua/index.php/econ/article/viewFile/188/185
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Kuzmin, O. Ye., and Shakhno, A. Yu. “Derzhavne rehuliuvannia mihratsiinykh protsesiv liudskoho kapitalu v umovakh hlobalizatsii“ [State regulation of migration processes of human capital in the conditions of globalization]. Biznes Inform, no. 5 (2018): 26-35.
Kravchenko, N. V. “Innovatsiina pratsia: sotsiorhanizatsiini osnovy formuvannia i rozvytku“ [Innovative work: socio-organizational foundations of formation and development]. Molodyi vchenyi, no. 2 (17) (2015): 124-128.
Nosyk, O. M. Liudskyi kapital innovatsiinoho rozvytku: ekonomichni osnovy vidtvorennia [Human Capital of Innovation Development: The Economic Basis of Reproduction]. Kharkiv: Vyd-vo NFaU, 2016.

Section: Economics and national economy management
UDC 339.1
Mardus N. Y.
A Methodological Approach to Assessing the Development of the Internal Market for Goods (p. 98 - 104)
The aim of the article is to study the formation of a methodological approach to assessing the development character of the internal market for goods, which combines methods for assessing the state of the internal market for goods and methods for assessing the development of the internal market for goods, as provided by appropriate methodological approaches. To achieve the goal of the research, there studied the methodological apparatus that combines methods for assessing the state of the internal market for goods and methods for assessing the development of the internal market for goods, as provided by appropriate methodological approaches. A methodological approach to assessing the development of the internal market for goods involves several stages. Among them, the first stage is the formation of indicators for assessing the state that are contained in the information base, with using the method of inter-system conformity, based on the system of coefficients of development of the internal market for goods. Regarding the second block of indicators used for assessing the structural character, it is proposed to determine the indicators for assessing the structure by commodity groups and the indicators for assessing the structure by entities. As to the third block, it is proposed to determine the indicators for assessing the infrastructure development. For this purpose, there used a method to systematize the data contained in the information base for assessing the state of the internal market, which allows to order the indicators and divide them into three main blocks: indicators for assessing the functional character; indicators for assessing the structural character; indicators for assessing factors that determine the character. As a result, the distribution of indicators for assessing the state of the internal market based on their information heterogeneity is justified. In the article there generated a methodological approach to assessing the state of the internal market for goods that implies the formation of a system of indicators for assessing the state of the internal market for goods with the use of the method for systematization of data contained in the information base for assessing the state of the internal market for goods and its development. Prospects for further research in this area are assessing the development of the internal market for goods based on the methodological approach proposed in the article for assessing the development of the internal market for goods.
Keywords: internal market, development, methodological approach, indicator, coefficient.
Fig.: 2. Tabl.: 2. Formulae: 2. Bibl.: 12.

Mardus Nataliia Yu. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Departmentof of Economic Analysis and Accounting, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: nat_ua@ukr.net

Reference to this article:
Mardus, Nataliia Yu. (2018) “A Methodological Approach to Assessing the Development of the Internal Market for Goods.” The Problems of Economy 2:98–104.

List of references in article

Mardus, N. Yu. “Metodolohichnyi bazys zabezpechennia vnutrishnyoho rynku tovariv“ [Methodological basis for ensuring the internal market of goods]. Ekonomichnyi forum, no. 2 (2018): 33-38.
Rynky realnoho sektora ekonomiky Ukrainy: strukturno-instytutsionalnyi analiz [Markets of the real sector of the economy of Ukraine: structural and institutional analysis]. Kyiv, 2009.
Umantsiv, Yu. M., and Katran, M. V. “Rozvytok vnutrishnyoho rynku spozhyvchykh tovariv v Ukraini“ [Development of the domestic consumer goods market in Ukraine]. Biznes Inform, no. 8 (2017): 271-275.
Vnutrishnii rynok i torhivlia Ukrainy: strukturno-instytutsionalna transformatsiia [Domestic market and trade of Ukraine: structural and institutional transformation]. Kyiv: KNTEU, 2015.
Terletska, V. O. “Otsiniuvannia ta analiz faktoriv vplyvu na rozvytok zovnishnyoekonomichnoi diialnosti avtomobilebudivnoi haluzi Ukrainy“ [Assessment and analysis of factors influencing the development of foreign economic activity of the automotive industry of Ukraine]. Naukovyi visnyk NLTU Ukrainy. Seriia: Ekonomika, planuvannia ta upravlinnia v haluziakh, no. 24.8 (2014): 278-285.
Brykova, I. “Kontseptsiia mizhnarodnoi konkurentospromozhnosti natsionalnoho rehionu ta yii praktychnyi vymir“ [The Concept of International Competitiveness of the National Region and its Practical Dimension]. http://www.kneu.kiev.ua/journal/ukr/article/2006_1_Brykova_ukr.pdf
Kovalska, L. L., and Rechun, O. Yu. “Metodychnyi pidkhid do otsinky rivnia rozvytku lohistychnoi systemy rozdribnoi torhovelnoi merezhi: pidpryiemnytskyi aspekt“ [Methodical approach to the assessment of the level of development of the logistic system of the retail trade network: the entrepreneurial aspect]. Efektyvna ekonomika. 2017. URL: http://www.economy.nayka.com.ua/?op=1&z=5568
Ihnatiuk, A. I. Haluzevi rynky: teoriia, praktyka, napriamky rehuliuvannia [Sectoral Markets: Theory, Practice, Directions of Regulation]. Kyiv: NNTs IAE, 2010.
Havura, V. O. “Orhanizatsiino-ekonomichni zasady pidvyshchennia konkurentospromozhnosti rehionu“ [Organizational and economic principles of increasing the competitiveness of the region]: dys. … kand. ekon. nauk : 08.00.05, 2012.
Popadynets, N. M. “Vnutrishnii rynok produktsii lisovoi promyslovosti Ukrainy: pidkhody do otsiniuvannia ta napriamy rozvytku“ [The domestic forest products market in Ukraine: approaches to evaluation and trends]. Rehionalna ekonomika, no. 1 (2013): 201-210.
Sukhanova, A. V. “Mekhanizmy formuvannia konkurentnykh perevah ekonomiky rehionu“ [Mechanisms of the formation of competitive advantages of the region's economy]: dys. ... kand. ekon. nauk : 08.00.05, 2016.
[Legal Act of Ukraine] (2014).

Section: Economics and national economy management
UDC 338.45:621
Kyzym M. O., Miliutin H. V.
Assessing the Current State and Determining the Capabilities of the Domestic Power Engineering Industry to Ensure the Modernization of the Ukrainian Power Generation Sector (p. 105 - 120)
The article highlights the problems of development of the Ukrainian power generation sector. The aim of the article is to assess and analyze the current state of power engineering in Ukraine and determine its capabilities to ensure the modernization of the domestic power generation sector. The analysis of technical and technological support for the existing power generating fleet in Ukraine by types of main equipment is carried out. It is shown that the main equipment in Ukrainian NPPs is of Russian origin, and that in TPPs and HPPs are both of Ukrainian and Russian origin. The activity of main enterprises in the power engineering industry in Ukraine producing equipment for all types of power plants, including steam hydraulic turbines, generators, boilers, diesel engines, electrical equipment, cables, etc., is considered. A map of technical and technological support for the power generation sector of Ukraine is created. The main problems that hamper the further development of the domestic power engineering industry are identified. It is substantiated that the main strategic direction of the development of the domestic power engineering industry is the maximum possible satisfaction of the needs of the electric power complex by designing and manufacturing its own equipment and minimizing the volume of imports. It is proved that with the gradual solution of the existing problems and with more complete and competent use of the existing potential of the Ukrainian power engineering complex, the development of the enterprises of the complex in the set direction is quite realistic.
Keywords: power engineering, state, capabilities, technical and technological support, power generation sector, nuclear power plants, thermal power plants, hydroelectric power plants.
Tabl.: 4. Bibl.: 26.

Kyzym Mykola O. – Doctor of Sciences (Economics), Professor, Corresponding Member of NAS of Ukraine, Chief research scientist, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: m.kyzym@gmail.com
Miliutin Hlib V. – Applicant, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: ndc_ipr@ukr.net

Reference to this article:
Kyzym, Mykola O., and Miliutin, Hlib V. (2018) “Assessing the Current State and Determining the Capabilities of the Domestic Power Engineering Industry to Ensure the Modernization of the Ukrainian Power Generation Sector.” The Problems of Economy 2:105–120.

List of references in article

Kyzym, M. O. et al. “Kontseptualni zasady zmitsnennia palyvnoi bezpeky natsionalnoi ekonomiky“ [Conceptual framework for strengthening the fuel security of the national economy]. Problemy ekonomiky, no. 1 (2017): 79-88.
Kyzym, M. O., Shpilievskyi, V. V., and Miliutin, H. V. “Obgruntuvannia priorytetnykh napriamiv strukturno-tekhnolohichnoi modernizatsii sektora elektroheneratsii“ [Substantiation of priority directions of structural and technological modernization of the power generating sector]. Problemy ekonomiky, no. 1 (35) (2018): 69-86.
Khaustova, V. Y., Salashenko, T. I., and Lelyuk, O. V. “Energy Security of National Economy Based on the System Approach“. Naukovyi visnyk Polissia vol. 1, no. 2 (14) (2018): 79-92.
Ushchapovskyi, K. V. “Stratehiia rozvytku derzhavnykh infrastrukturnykh elektroenerhetychnykh pidpryiemstv Ukrainy“ [Strategy of development of state-owned infrastructure electric power enterprises of Ukraine]: dys. … d-ra ekon. nauk : 08.00.04, 2016.
Kolohryvov, Ya. I. “Innovatsiinyi rozvytok pidpryiemstv enerhetychnoho mashynobuduvannia“ [Innovative development of enterprises of power engineering]: dys. … kand. ekon. nauk : 08.00.04, 2017.
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Section: Economics and national economy management
UDC 338.12:330.1
Pelekh O. B.
Essence, Conceptual Principles, and Features of Structural Policy (p. 121 - 127)
Modern economic, social and political crises are to some extent due to insufficient attention to the formation and implementation of the state structural policy. The analysis of the results of studies of essential characteristics of the conceptual framework used allowed to formulate our own understanding of the concept of “structural policy”. Structural policy is an integral part of economic policy, which is an aggregate of social and economic activities carried out by the state and other economic policy actors through justifying and introducing purposeful structural changes and transformations in the economy and society with a view to realizing an optimal restructuring of the economic system, eliminating disproportions, ensuring balanced and positive development of the economy, solving urgent social and economic problems. Structural policy is characterized by system-wide properties. The defining features of structural policy are a plan package; the economic policy component; use of incentives, investment and innovation; directions of structural transformation; support for development of components of the national economy and formation of their necessary proportions; increase in efficiency of social production and its structure; ensuring economic growth. The goals of structural policy are implementation of structural reforms; use of structural changes as a tool to increase the pace of economic development; preparation of the economy to meet future needs. Structural policy offers methods and tools for its implementation. The toolkit includes tools for direct and indirect action. The components of structural policy are sectoral, innovative, industrial, investment, reproductive, regional, institutional, environmental, competitive, social, foreign economic policy. Structural policy in the process of its implementation takes various forms: policy of adaptation; prevention policy; anticipation policy; restructuring.
Keywords: structural policy, economic structure, structural changes, goals, methods and forms of structural policy.
Bibl.: 29.

Pelekh Oksana B. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management, Rivne State Humanitarian University (12 Stepana Bandery Str., Rivne, 33028, Ukraine)
Email: peleho@ukr.net

Reference to this article:
Pelekh, Oksana B. (2018) “Essence, Conceptual Principles, and Features of Structural Policy.” The Problems of Economy 2:121–127.

List of references in article

Pelekh, O. B. “Sutnist i rol strukturnykh zmin v umovakh ekonomiky, shcho transformuietsia“ [The essence and role of structural changes in the conditions of the transforming economy]. Visnyk Odeskoho natsionalnoho universytetu. Ekonomika vol. 22, no. 10 (65) (2017): 45-48.
Shynkaruk, L. V. et al. Strukturni transformatsii v ekonomitsi Ukrainy: dynamika, superechnosti ta vplyv na ekonomichnyi rozvytok [Structural Transformations in the Ukrainian Economy: Dynamics, Contradictions and Impact on Economic Development]. Kyiv: IEP NAN Ukrainy, 2015.
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Section: Economics and national economy management
UDC 330.1
Shevchuk S. V.
Theoretical and Methodological Bases for Defining the Category “State Regulatory Capacity”: Gnoseological Aspect (p. 128 - 133)
The category “state regulatory capacity” is considered from the positions of the epistemological approach and in the context of understanding events, phenomena, and processes that arise while realizing customs interests of subjects of foreign economic activity. In the course of the study it was found that under conditions of transparency and transformation of the global economic space, the need to identify the positions for enhancing the state regulatory capacity in the context of realizing national interests is an imperative of our time. The standpoints of scientists in understanding the essence of the definition of “state regulatory capacity” are analyzed and systematized, and the author’s approach to the interpretation of the definition is proposed. Emphasis is made on the multi-vector character of the standpoints in understanding the essence of the maxim, which in the general format reduces the effectiveness of its application and affects the nation-wide condition of the functioning of the state regulation system as a whole. There determined the standpoint of interpreting the maxim by scientists belonging to the Western economic school, who see the category “state regulatory capacity” mainly as human, financial resources, legislative base, and experience, unlike domestic researchers focusing on the opportunities and means that ensure efficiency of the regulation process. The differentiation of using the concept in the context of types of activities is provided. Attention is focused on the leading role of the state in terms of ensuring its managerial and organizational role, implementing regulatory capacity to realize its customs interests. A hypothesis is formed that it is the mechanisms of state regulation that are used to search for hidden resources and mobilize available reserves, opportunities, and resources in achieving positive indicators of economic activity; ensure close relationship between the state regulatory capacity and measures and instruments of state regulation of the economy.
Keywords: capacity, regulation, state regulatory capacity, state regulation, customs interests.
Bibl.: 21.

Shevchuk Sergii V. – Candidate of Sciences (Economics), Candidate on Doctor Degree, Department of Economics of Enterprises, National University of the State Fiscal Service of Ukraine (31 Universytetska Str., Irpіn, Kyiv region, 08201, Ukraine)
Email: nauka-rez@ukr.net

Reference to this article:
Shevchuk, Sergii V. (2018) “Theoretical and Methodological Bases for Defining the Category “State Regulatory Capacity”: Gnoseological Aspect.” The Problems of Economy 2:128–133.

List of references in article

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Ekonomichna entsyklopediia [Economic Encyclopedia]. Kyiv: Akademiia, 2002.
Behma, P. O. “Sutnist trudovoho potentsialu yak sotsialno-ekonomichnoi katehorii“ [The essence of labor potential as a socio-economic category]. Naukovyi visnyk Poltavskoho universytetu ekonomiky i torhivli, no. 2 (71) (2015): 130-137.
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Homon, M. V. “Znachennia poniattia «rehuliatyvnyi potentsial» v podatkovomu rehuliuvanni“ [The meaning of the term "regulatory potential" in tax regulation]. Prychornomorski ekonomichni studii, no. 16 (2017): 36-39.
Derzhavne finansove rehuliuvannia ekonomichnykh peretvoren [State financial regulation of economic transformations]. Kyiv: KNTEU, 2015.
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Filatov, V. V. “Napriamky suchasnoi mytnoi polityky Ukrainy“ [Directions of modern customs policy of Ukraine]. Mytna sprava, no. 4 (64) (2009): 24-30.
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Rehuliatyvnyi potentsial podatkovoi systemy Ukrainy [Regulatory potential of the tax system of Ukraine]. Kharkiv: KhNEU, 2009.
Homon, M. V. “Znachennia rehuliatyvnoho potentsialu pilhovoho opodatkuvannia u derzhavnomu rehuliuvanni“ [The value of the regulatory potential of preferential taxation in state regulation]. Skhidna Yevropa: ekonomika, biznes ta upravlinnia, no. 3 (08) (2017): 43-46.
Kirkpatrick, C., and Parker, D. “Infrastructure regulation: model for developing Asia“ Asian Development Bank Institute Discussion Paper, no. 6 (2004): 12-.
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Finansovyi mekhanizm strukturnoi modernizatsii ekonomiky Ukrainy [Financial Mechanism for Structural Modernization of the Ukrainian Economy]. Irpin: Vyd-vo NU DPS Ukrainy, 2013.
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Section: Economics and national economy management
UDC 338.28:(004.08+621.377.6)
Shchepkina N. N.
Electronic Auctions under Conditions of Digital Transformation: Achievements and Miscalculations (p. 134 - 140)
The aim of the article is to study the basic principles of electronic auctions. The characteristic features of the work of electronic auctions are studied and summarized. The content of the category “electronic auction» is disclosed. The key interests of society that determine the level of public confidence in the work of electronic auctions in the context of the principles of information and digital activity are established. It is argued that the problems that require urgent solutions to fully implement the standards of openness and transparency in electronic auctions are the clarity in delineation of competences of individual authorities; elimination of cases of breaking the current legislation. The content of the implemented projects on transparency and openness of electronic auctions, namely “E-data» and “ProZorro», is disclosed. It is suggested to understand the institutional environment of electronic auctions as the formation of qualitative institutions — rules and norms for the functioning of such auctions. There presented and disclosed benefits of the work of electronic auctions for auction organizers and auctioneers, including the opportunity to participate in the bidding process from anywhere in the world without leaving your office; fair competition, excluding non-price methods; transparency and openness of the trading process. Further research in this area involves assessing the expediency of developing tools and mechanisms of virtual auctions aimed at forming digital reality, as well as elaborating a roadmap to address the deficiencies inherent in electronic auctions and accelerate development, globalization, mobility, and digital orientation of the economy.
Keywords: electronic auctions, e-commerce, tender process, public procurement, auctioneer, information and digital development.
Fig.: 1. Tabl.: 2. Bibl.: 19.

Shchepkina Nataliia N. –

Reference to this article:
Shchepkina, Nataliia N. (2018) “Electronic Auctions under Conditions of Digital Transformation: Achievements and Miscalculations.” The Problems of Economy 2:134–140.

List of references in article

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Matskievich, M. et al. Mizhnarodni standarty vidkrytosti ta prozorosti hromadskykh finansiv v zakonodavstvi ta praktytsi Ukrainy. Sproba otsinky [International Standards of Openness and Transparency of Public Finances in Ukrainian Legislation and Practice. Attempt to evaluate]. Warsaw: Hdanskyi instytut rynkovoi ekonomiky, 2003.
Arovina, M. P. “Internet-auktsiony v elektronnom biznese Ukrainy“ [Internet auctions in electronic business of Ukraine]. Teoretychni i praktychni aspekty ekonomiky ta intelektualnoi vlasnosti, no. 1 (1) (2015): 34-40.
Hasanov, S. S., Kudriashov, V. P., and Balakin, R. L. “Zarubizhnyi dosvid zabezpechennia prozorosti operatsii u fiskalnii sferi ta yoho vykorystannia v Ukraini“ [Foreign experience in ensuring the transparency of operations in the fiscal area and its use in Ukraine]. Finansy Ukrainy, no. 11 (2015): 22-42.
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Krutova, A. S., and Chumak, O. V. “Elektronnyi dokumentoobih v orhanakh derzhavnoi vlady Ukrainy: realii syohodennia ta perspektyvy rozvytku“ [Electronic document circulation in Ukrainian public authorities: current realities and prospects of development]. Finansy Ukrainy, no. 12 (2012): 112-124.
Kraus, K. M., and Kraus, N. M. “Tsyfrovizatsiia v umovakh instytutsiinoi transformatsii ekonomiky: bazovi skladovi ta instrumenty tsyfrovykh tekhnolohii“ [Digitalization in the context of the institutional transformation of the economy: the basic components and tools of digital technologies]. Intelekt XXI stolittia, no. 1 (2018): 211-214.
Yefymenko, T. I. “Kontseptualni zasady podalshoho rozvytku systemy upravlinnia derzhavnymy finansamy“ [Conceptual basis for the further development of the public finance management system]. Ekonomika Ukrainy, no. 3 (664) (2017): 3-31.
Baumann, E. “Planuvannia i formuvannia realistychnoho ta prozoroho biudzhetu“ [Planning and creating a realistic and transparent budget]. Finansy Ukrainy, no. 9 (2014): 7-20.
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Hladchenko, L. “Prozorist derzhavnykh finansiv yak peredumova efektyvnosti derzhavnoho upravlinnia“ [Transparency of public finances as a prerequisite for the effectiveness of public administration]. Rynok tsinnykh paperiv Ukrainy, no. 3-4 (2011): 35-41.
Nakonechna, Yu., and Demydenko, L. “Vidkrytist ta prozorist derzhavnoho ta mistsevoho biudzhetiv v Ukraini“ [Openness and transparency of state and local budgets in Ukraine]. Ekonomika, no. 10 (187) (2016): 20-27.
[Legal Act of Ukraine] (2015). http://zakon5.rada.gov.ua/laws/show/183-19
Ministerstvo ekonomichnoho rozvytku i torhivli Ukrainy. http://www.me.gov.ua/News/Detail?lang=uk-UA&id=aacbdccf-e61e-4f51-9914-fd61395efefd&title=MinekonomrozvitkuZaklikaMistsevuVladuVikoristovuvatiSistemuProzorroNaDoporogovikhZakupivliakh-
“Kak Prozorro boretsya s nechestnymi tenderami v goszakupkakh“ [How Prozorro fights against dishonest tenders in public procurement]. PaySpace Magazine. http://psm7.com/news/borba-s-nechestnymi-tenderami-pri-goszakupkaxvyxodit-na-novyj-uroven.html
Golovakha, Ye., and Panina, I. “Postsovetskaya deinstitutsionalizatsiya i stanovleniye novykh sotsialnykh institutov v ukrainskom obshchestve“ [Post-Soviet de-institutionalization and the emergence of new social institutions in Ukrainian society]. Sotsiologiya: teoriya, metody, marketing, no. 4 (2001): 3-24.

Section: Regional economy
UDC 17.022.1(1)
Zinchenko O. A.
Preconditions for the Formation of a Positive Image of a Region (p. 141 - 145)
The aim of the article is to substantiate the prerequisites for creating an image of a territory in the context of decentralization and intensification of business activity at the regional level. The economic and socio-cultural prerequisites for creating the image are revealed, their role in these processes proved. The influence of the image on investment activity in the region is analyzed. The importance of the security factor that creates a favorable environment for the formation of the regional brand and its promotion both in the national and global arena is proved. It is determined that the traditional system for forming an image of a region, under conditions of extreme instability of the domestic social and economic systems, is not sufficient to ensure balanced economic growth and gradual social development. It is proposed to use the recursion principle for region branding. A promising area for further research in this sphere is the development of methodological approaches to diagnose the image of a territory, transformation of a positive image into the regional brand and ensuring its promotion in the global information space on the same principles of international security.
Keywords: image of a region, making an image of a territory, prerequisites for creating an image, investment attractiveness, regional security.
Bibl.: 16.

Zinchenko Olha A. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Marketing and International Management, Oles Honchar Dnipro National University (72 Nauky Ave., Dnіpro, 49010, Ukraine)
Email: ol-zinchenko@ukr.net

Reference to this article:
Zinchenko, Olha A. (2018) “Preconditions for the Formation of a Positive Image of a Region.” The Problems of Economy 2:141–145.

List of references in article

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Zinchenko, O. A. “Instytutsiini faktory formuvannia imidzhu rehionu“ [Institutional factors for forming the image of the region]. Prychornomorski ekonomichni studii, no. 24 (2017): 110-122.
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“Reitynh lehkosti vedennia biznesu Doing Business“ [The ease of doing business Doing Business]. http://www.doingbusiness.org/reports/global-reports/doing-business-2017
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Panchenko, T. V. “Rehionalna i lokalna identychnosti yak skladovi kultury subsydiarnoi demokratii“ [Regional and local identities as part of the culture of subsidiary democracy]. Naukovyi chasopys NPU imeni M. P. Drahomanova. Seriia 22 : Politychni nauky ta metodyka vykladannia sotsialno-politychnykh dystsyplin. 2010. http://nbuv.gov.ua/UJRN/Nchnpu_022_2010_4_15
Zinchenko, O. A. “Bezpekovyi faktor u formuvanni pozytyvnoho imidzhu rehionu“ [The security factor in shaping the positive image of the region]. In Suchasni transformatsii orhanizatsiino-ekonomichnoho mekhanizmu menedzhmentu ta lohistyky sub'iektiv pidpryiemnytstva v systemi ekonomichnoi bezpeky Ukrainy, 361-372. Dnipro: Bila K. O., 2017.
Zinchenko, O. A. “Proektnyi pidkhid do stvorennia imidzhu terytorii“ [A project approach to creating an image of the territory]. European Journal of Management Issues vol. 25 (3-4) (2017): 176-183.

Section: Regional economy
UDC 332.1
Krasnonosova O. M.
Expansion of Authorities of Territorial Communities in the Development of Local Self-Government in Ukraine (p. 146 - 151)
Financial systems should ensure an increase in costs that arise when local governments exercise their powers. Protection of weaker financial institutions of local self-government requires the introduction of financial equalization procedures or equivalent measures aimed at overcoming the consequences of unequal distribution. The aim of the work is to clarify the composition and sequence of management measures on the part of local governments. The Law of Ukraine “On Local Self-Government in Ukraine” defines the concept of a territorial community as the inhabitants united by permanent residence within a village, settlement or city. The corresponding localities are independent administrative territorial units. Each of the units has certain development priorities. Reconciling priorities is a difficult task. The formation of the budget relates to financial functions of local government bodies. It includes the concept of the local budget — as a plan for the formation and use of financial resources necessary to ensure functions and powers of local governments; the district budget — as a plan for the formation and use of financial resources necessary to ensure common interests of the territorial communities of villages and towns of regional subordination, implementation of local programs and budgetary alignment; the regional budget — as a plan for the formation and use of financial resources necessary to ensure common interests of territorial communities, implementation of local programs and budgetary alignment. The development of local self-government in Ukraine and the reform of the territorial structure require using new tools and methods for strategic management of activities of local communities, harmonization of priorities for their development, and formation of a new structure of relations between the center and the periphery. The development of local self-government is characterized by the redistribution of power in favor of the periphery and institutional multipolarity, requires further in-depth research of the possibility for coordinating the development priorities of territorial communities within administrative territories.
Keywords: society, territorial community, governance, local self-government.
Fig.: 2. Bibl.: 12.

Krasnonosova Olena M. – Candidate of Sciences (Economics), Associate Professor, Senior Research Fellow, Department of Macroeconomic Policy and Regional Development, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: krasnonosova@gmail.com

Reference to this article:
Krasnonosova, Olena M. (2018) “Expansion of Authorities of Territorial Communities in the Development of Local Self-Government in Ukraine.” The Problems of Economy 2:146–151.

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Section: Regional economy
UDC 338.22
Kurhanska M. К.
Analysis of the Work of Construction Organizations in Regions of Ukraine in the Context of Crisis Management (p. 152 - 158)
The work of construction organizations in regions of Ukraine in the context of crisis management is analyzed. The author notes that crisis management should be based on diagnosing or analyzing the state of the industry in order to identify problems in its management system that result in complications in the financial status of the industry or an enterprise. Systems analysis of construction organizations in regions of Ukraine in the context of crisis management will allow considering in the aggregate a number of factors that serve as indicators of the problem. There carried out an estimation of the volume of completed construction works in the construction of buildings and engineering facilities, which proved that starting from 2016, a significant increase in the volume of completed construction work is observed. It is noted that in a down economy a new construction work as an economic process that requires large investments certainly causes a decrease in the volume. To identify trends by regions, the author calculated the ratio of new constructed and reconstructed housing. A study of the change in the construction products index for 2011-2017 was conducted, and its comparison with the change in the volume of completed construction works for the same period revealed an unconditional dependence of these indicators. The distribution of the gross domestic product of the construction industry in Ukraine is analyzed. To determine the changes in the GDP growth rate, the author calculated the relative indicators (increase / fall in relation to the previous year, in percentage terms) based on statistical data. It is revealed that the share of capital investments directed to construction in the total volume of capital investments in recent years practically did not change. The conclusion is made that, to significantly improve investment in the development of construction in Ukraine, an urgent issue is the improvement of the legal and organizational basis for increasing the capacity of mechanisms of ensuring a favorable investment climate in the construction industry and forming the basis for preserving and improving the competitiveness of the domestic economy.
Keywords: crisis management, construction organizations, construction, region.
Fig.: 7. Tabl.: 2. Bibl.: 10.

Kurhanska Maryna К. – Lecturer, Housing and Communal College of O. M. Beketov National University of Urban Economy in Kharkiv (233a Shevchenka Str., Kharkiv, 61033, Ukraine)
Email: jkt45@ukr.net

Reference to this article:
Kurhanska, Maryna К. (2018) “Analysis of the Work of Construction Organizations in Regions of Ukraine in the Context of Crisis Management.” The Problems of Economy 2:152–158.

List of references in article

Anishchenko, L. O. “Zarubizhnyi dosvid antykryzovoho upravlinnia“ [Foreign experience of crisis management]. Ekonomichnyi prostir, no. 68 (2012): 143-156.
Vasylenko, V. O., and Korotkov, E. M. Antykryzove upravlinnia pidpryiemstvom [Anticrisis management of the enterprise]. Kyiv: TsUL, 2003.
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Storchak, N. O. “Mistse antykryzovoho upravlinnia v ekonomichnii stratehii firmy“ [The place of crisis management in the company's economic strategy]. Visnyk Kryvorizkoho ekonomichnoho instytutu KNEU, no. 3 (19) (2009): 59-63.
Tereshchenko, O. O., and Pukhtaievych, H. M. Antykryzove finansove upravlinnia na pidpryiemstvi [Anticrisis financial management at the enterprise]. Kyiv: KNEU, 2006.
Kholod, Z. M., and Shtanhret, A. M. “Antykryzove upravlinnia - systema zavchasnoi diahnostyky i zakhystu vid kryzovykh sytuatsii“ [Anti-crisis management - a system for early diagnosis and protection from crisis situations]. Naukovi zapysky, no. 5 (2002): 124-127.
Kuibida, V. “Uroky kryzy i onovlene bachennia budivnytstva“ [Lessons of the crisis and updated vision of construction]. Dzerkalo tyzhnia. 2010. http://www.ssrd.org.ua/content/ukr/archiv/dzerkalo_tyzhnya.pdf
Paliha, N. B. “Analiz mekhanizmiv ta instrumentiv realizatsii antykryzovoi polityky derzhavy v budivelnii haluzi“ [Analysis of mechanisms and tools for realizing anti-crisis policy of the state in the construction industry]. Vseukrainskyi analitychno-informatsiinyi zhurnal «Skhid». http://www.experts.in.ua/index.php
Svitlychna, T. I. “Realizatsiia polityky antykryzovoho upravlinnia pidpryiemstvamy budivelnoho kompleksu Ukrainy“ [Realization of the policy of crisis management of enterprises of the building complex of Ukraine]. http://www.economy-confer.com.ua/full_article/736/
Derzhavna sluzhba statystyky Ukrainy. http://www.ukrstat.gov.ua

Section: Regional economy
UDC 332.1
Mykhailenko D. H.
Economic Efficiency: Definition, Analysis of Concepts (p. 159 - 163)
At the present stage of economic development, there is a certain crisis in studying economic efficiency of performance results. Despite the interest of many scholars and practitioners to investigating the notion and concepts of economic efficiency, there are still many contradictions in its definition. Theoretical aspects of economic efficiency are highlighted in works of C. McConnell and S. Brue, A. Makhmudova, A. Krasnov, V. Kondratov, B. Raizberg, S. Mochernyi, and others. The aim of the article is to analyze the existing approaches to the definition of economic efficiency in the area of sustainable development of a region. There are several approaches to studying efficiency: “resource-based” approach that provides for the fullest use of scarce resources in order to fully meet the limited needs; “cost-based” approach, which considers the ratio of performance results and costs. The article presents the views of scientific schools on the concept of “efficiency”, namely: representatives of the Classical School consider efficiency as a comparative ratio of production factors to their productivity and resource availability; the Neoclassical School considers efficiency from the point of view of social reproduction quality; according to representatives of the School of General Equilibrium, the basis of countries’ competitive advantages is the prices for goods being less than equilibrium prices, as well as the conditions of countries that provide mutual demand and supply. The equalization of aggregate demand and aggregate supply can be either performed by changing prices with constant quantities, or by changing quantities with constant prices, or by changing quantities and prices simultaneously; representatives of the Institutional and Non-Institutional Schools consider efficiency through the prism of transaction costs; the School of Competitive Advantages considers efficiency as a competitive advantage of the state and business levels. Efficiency is always associated with the ratio of result value to costs value, subjective, individualized assessment of the object and has a final result.
Keywords: economic efficiency, concept, result.
Fig.: 1. Tabl.: 2. Bibl.: 22.

Mykhailenko Daria H. – Candidate of Sciences (Economics), Associate Professor, Senior Research Fellow, Department of Macroeconomic Policy and Regional Development, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: mikhailenko.dg@gmail.com

Reference to this article:
Mykhailenko, Daria H. (2018) “Economic Efficiency: Definition, Analysis of Concepts.” The Problems of Economy 2:159–163.

List of references in article

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Mochernyi, S. V., Yerokhin, S. A., and Kanishchenko, L. O. Osnovy ekonomichnoi teorii [Foundations of economic theory]. Kyiv: Znannia, 2000.
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Torrens, R. An Essay on the External Corn Trade Clifton: A. M. Kelley, 1972.
Plotnitskiy, M. I, and Lobkovich, E. I. Kurs ekonomicheskoy teorii [Course of economic theory]. Minsk: Misanta, 2003.
Sukharev, O. S. Teoriya effektivnosti ekonomiki [The theory of the effectiveness of the economy]. Moscow: Finansy i statistika, 2009.
Korniichuk, L. Ya. Istoriia ekonomichnykh uchen [The history of economic studies]. Kyiv: KNEU, 1999.
Herasymova, S. V. Upravlinnia investytsiinoiu diialnistiu aktsionernykh tovarystv [Management of investment activity of joint-stock companies]. Kyiv: Znannia, 2006.
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Kuznietsova, O. “Shchodo sutnosti ekonomichnoi efektyvnosti“ [As to the essence of economic efficiency]. Rozvytok metodiv upravlinnia ta hospodariuvannia na transporti, no. 4 (49) (2014): 178-189.

Section: Regional economy
UDC 332.1:331.5
Tymechko I. R.
Peculiarities of Territorial Communities’ Activity in the EU-Ukraine Cross-Border Space (p. 164 - 170)
The influence of the establishment of the local border traffic regime in the Ukrainian-Polish space on the level of welfare of territorial communities in Lviv region is studied. The convergent development of the territorial communities in Lviv region revealed that communities with a low level of economic welfare are developing faster, which ensures a reduction in the disproportion of their development. It is established that the border location still does not affect the level of construction, which may be due to the fact that even the possibilities of local border traffic regime are not enough to make the territory attractive for living. It is determined that inter-regional disproportions in the economic development in the cross-border space are characterized by different dynamics at the borders of different neighboring states. It is found out that the uneven development of territorial communities in the Ukrainian-Polish cross-border space in terms of indicators of socio-economic development and financial security is conditioned, in particular, by the flow of human capital, i.e., the youth of the border territorial communities move to a more developed environment. The introduction of mutual simplifications in border-crossing for residents of the Ukrainian border territories contributes to stimulation of border-crossing by residents of these areas. The influence of the establishment of local border traffic regime (2008) on the welfare level of the border territorial community is examined. The research is conducted for 2 periods: the period before the establishment of the local border traffic regime (2003-2008); the period after the establishment of the local border traffic regime (2008-2011). The rate of increase in housing is chosen as the indicator of the level of the community’s welfare. Regression analysis was the main research method applied. The modified model of conditional ?-convergence was used as the basis of the research.
Keywords: local border traffic, territorial communities’ welfare, convergent development, trans-border space; regional disproportions.
Formulae: 1. Bibl.: 12.

Tymechko Iryna R. – Doctor of Sciences (Economics), Senior Research Fellow, Department of Regional Financial Policy, Institute of Regional Research named after V. I. Dolishniy of the NAS of Ukraine (4 Kozelnytska Str., Lvіv, 79026, Ukraine)
Email: tymi@ukr.net

Reference to this article:
Tymechko, Iryna R. (2018) “Peculiarities of Territorial Communities’ Activity in the EU-Ukraine Cross-Border Space.” The Problems of Economy 2:164–170.

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Section: Economics and Enterprise Management
UDC 338.22.01:330.837
Valiullina Z. V.
The Concepts of Institutionalization of Corporate Activity and its Modern Interpretations (p. 171 - 176)
The aim of the article is to define the essence of the concepts of institutionalization of corporate activity and to highlight the features of its modern interpretation. The structure of the institution of corporate activity at functional levels is generalized. It is established that the global level is undoubtedly the most promising at the moment. The practice of using bilateral agreements between corporations and interested states is proved. It is determined that a serious institutional issue of regulation of corporate relations is the problem of corporate taxation. According to the results of the conducted research, it is established that the process of international institutionalization of corporate activity is in its formative stage. Its formation takes place mainly spontaneously, uncontrollably, under the influence of framework circumstances. The creation of an international institution of corporations as an independent unit within the existing legal framework, and not beyond its borders, is proposed. Based on the analysis of the concepts of institutionalization of corporate activity, it is found that the newest institution of corporate activity does not consider corporations themselves as a subject of norm-setting activity, although in fact, according to their functional characteristics, new corporations have long become normative institutions both nationally and in some cases internationally. It is proposed to revise the list of subjects of the international institutions of corporate activity and the ability of their participation in lawmaking.
Keywords: institutionalization, institutional transformation, concept, corporation, international institution, development, regulation.
Fig.: 1. Tabl.: 1. Bibl.: 16.

Valiullina Zoriana V. – Candidate of Sciences (Economics), Associate Professor, Department of International Economic Relations, National University of Water Management and Natural Resources Use (11 Soborna Str., Rivne, 33028, Ukraine)
Email: z.v.valiullina@nuwm.edu.ua

Reference to this article:
Valiullina, Zoriana V. (2018) “The Concepts of Institutionalization of Corporate Activity and its Modern Interpretations.” The Problems of Economy 2:171–176.

List of references in article

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Section: Economics and Enterprise Management
UDC 330.322
Vitiuk A. V.
Interpreting the Content of Processes for Supporting Investment (p. 177 - 183)
The theoretical and applied bases of the formation and development of processes for supporting investment of enterprises are studied. In particular, a terminological analysis of interpreting the categories of “supporting processes” and “processes for supporting investment” is carried out, and conceptual differences in the interpretation of these categories are determined in accordance with the theories of various economic schools and the domestic regulatory framework. The paper stresses the need to develop processes for supporting investment as a way to provide the basis for economic activity and accelerate high rates of public production. It is proved that the supporting processes include various aspects of implementation of investments. The necessity of breaking down the processes for supporting investment into basic and auxiliary ones is substantiated. It is established that the basic processes for supporting investment should include the processes of institutional, organizational, and financial security. The auxiliary process for supporting investment are proposed to be subdivided into the processes of staffing, infrastructural, informational, marketing, technical and technological, and resource support. It is proved that the implementation of investments should be based on compliance with the requirements of normative legal acts (regulatory support) of a particular region where the investment is realized. State measures in the field of investment should unite the social and economic, and regulatory environment of enterprises and be characterized by consistency and logical completeness (institutional support). It is established that in accordance with the following requirements, there should be formed an organizational structure, which will be entrusted the responsibilities of the real implementation of investments (organizational support) that should be properly financed (financial support). The carrying out of such activities implies a certain mechanism utilized through the auxiliary processes for supporting investment.
Keywords: process, support, investment activities, investment.
Fig.: 1. Bibl.: 16.

Vitiuk Anna V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management, Marketing and Economics, Vinnytsia National Technical University (95 Khmelnytske Chss, Vinnytsia, 21021, Ukraine)
Email: anna_vitiuk@ukr.net

Reference to this article:
Vitiuk, Anna V. (2018) “Interpreting the Content of Processes for Supporting Investment.” The Problems of Economy 2:177–183.

List of references in article

Vitiuk, A. V. “Rozvytok protsesiv zabezpechennia investuvannia pidpryiemstv silskohospodarskoho mashynobuduvannia“ [Development of the processes of ensuring the investment of agricultural machinery enterprises]: dys. … kand. ekon. nauk : 08.00.04, 2017.
Blank, I. O., and Huliaieva, N. M. Investytsiinyi menedzhment [Investment Management]. Kyiv: KNTEU, 2003.
Shcherbar, A. V. “Investytsiine zabezpechennia investytsiinoi diialnosti na pidpryiemstvi“ [Investment support of investment activity at the enterprise]. Aktualni problemy ekonomiky, no. 3 (57) (2006): 103-107.
Provaidynh innovatsii [Providing Innovation]. Kyiv: Profesional, 2008.
Pravyk, Yu. M. Investytsiinyi menedzhment [Investment Management]. Kyiv: Znannia, 2007.
Chervanyov, D. M. Menedzhment investytsiinoi diialnosti pidpryiemstv [Management of investment activity of enterprises]. Kyiv: Znannia-Pres, 2003.
Kniaz, S. V. et al. Innovatsiinyi menedzhment: statyko-dynamichna vizualizatsii [Innovation management: static-dynamic visualization]. Lviv: Vyd-vo Lvivskoi politekhniky, 2011.
Artiukh, T. O. “Marketynhovi aspekty zabezpechennia diialnosti silskohospodarskykh pidpryiemstv - vyrobnykiv ovochevoi produktsii“ [Marketing aspects of providing agricultural enterprises - producers of vegetable products]. Ahrosvit, no. 6 (2010): 57-60.
Bahorka, M. O., and Bilotkach, I. A. “Marketynhove zabezpechennia funktsionuvannia fermerskykh hospodarstv“ [Marketing support for the functioning of farms]. Ahrosvit, no. 21 (2010): 18-23.
Kovaliuk, O. M. “Novatorske doslidzhennia z problem resursnoho zabezpechennia investytsiinoi diialnosti v Ukraini“ [Innovative research on resource provision of investment activity in Ukraine]. Finansy Ukrainy, no. 3 (2006): 154-156.
Kreidych, I. M. “Systematyzatsiia dzherel zabezpechennia formuvannia investytsiinoi polityky“ [Systematization of sources of ensuring the formation of investment policy]. Investytsii: praktyka ta dosvid, no. 18 (2008): 10-13.
Oliinyk, D. I. “Investytsiine zabezpechennia staloho rozvytku telekomunikatsiinoi haluzi v Ukraini“ [Investment provision of sustainable development of the telecommunication industry in Ukraine]: dys. d-ra ekon. nauk : 08.07.04, 2006.
Politova, I. V. “Vyznachennia napriamiv udoskonalennia systemy zabezpechennia investytsiinoi diialnosti v sferi telekomunikatsii“ [Definition of directions of improvement of the system of providing investment activity in the field of telecommunications]. Investytsii: praktyka ta dosvid, no. 17 (2009): 16-20.
Bashnianyn, H. I., and Vasylchak, S. V. Derzhavne rehuliuvannia strukturnykh zrushen v investytsiinii diialnosti ekonomiky Ukrainy [State regulation of structural shifts in investment activity of the Ukrainian economy]. Lviv: Spolom, 2012.
Stupen, M., and Shumlianskyi, B. “Utochnennia poniatiino-katehorialnoho aparatu instytutsiinoho zabezpechennia investytsiinoi diialnosti lisovoho sektoru ekonomiky“ [Clarification of the conceptual-categorical apparatus of institutional support of investment activity of the forest sector of the economy]. Ekonomist, no. 1 (2015): 27-29.
Maiorova, T. V. Investytsiina diialnist [Investment activity]. Kyiv: Tsentr navch. lit., 2004.

Section: Economics and Enterprise Management
UDC 33.011:005.4
Galitsyn V. K., Suslov O. P., Samchenko N. K.
A Methodology for Studying and Making Managerial Decisions (p. 184 - 190)
The article outlines the methodological provisions for studying and making managerial decisions on the basis of theoretical and practical experience in the field of management, which attributes special features to a managerial decision. The article considers the approaches to studying and making managerial decisions separately, since managerial decision-making is a consistent purposeful process in the management system from the identification of the problem situation to the analysis and evaluation of the managerial decision, and the result of this process is a managerial decision that leads to certain changes in the management system. The role of structuring, characterization and optimization as procedures for reducing the uncertainty of information used in the process of making managerial decisions is described. There presented the essence of various approaches to studying and making managerial decisions as a single integrity, namely: the systems, target-oriented, process-oriented, situational, synergetic, integrated ones. There presented a conceptual model for studying and making managerial decisions, which consists of two blocks — “The methodology for making managerial decisions” and “The integral approach to studying and making managerial decisions”. The first block includes methodological approaches to studying managerial decisions (general methodological approaches to their studying and specific methodological approaches to their making) and theoretical approaches to making managerial decisions (theoretical approaches to their making and models for their making), and the second one — the components of the integral approach to their studying and making. The methodological provisions on studying and making managerial decisions outlined in the article are aimed at combining the approaches described and the scientific justification for selecting models and methods concerning specific aspects of this process.
Keywords: methodology, managerial decision, system, process, study, decision-making, information.
Fig.: 1. Bibl.: 8.

Galitsyn Volodymyr K. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Information Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: galicyn@kneu.edu.ua
Suslov Oleg P. – Doctor of Sciences (Economics), Professor, Professor, Department of Information Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: sop.10@ukr.net
Samchenko Nataliya K. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Information Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: samka.natasha@gmail.com

Reference to this article:
Galitsyn, Volodymyr K., Suslov, Oleg P., and Samchenko, Nataliya K. (2018) “A Methodology for Studying and Making Managerial Decisions.” The Problems of Economy 2:184–190.

List of references in article

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Asaul, A. N., Knyaz, I. P., and Korotayeva, Yu. V. Teoriya i praktika prinyatiya resheniy po vykhodu organizatsiy iz krizisa [Theory and practice of decision-making on the emergence of organizations from the crisis]. St. Petersburg: ANO «IPEV», 2007.
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Golubkov, Ye. P. Tekhnologiya prinyatiya upravlencheskikh resheniy [Technology of making managerial decisions]. Moscow: Delo i Servis, 2005.
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Krasnikov, V. S. Razrabotka upravlencheskikh resheniy [Development of management decisions]. St. Petersburg: Izd-vo SZAGS, 1999.
Litvak, B. G. Upravlencheskiye resheniya [Management decisions]. Moscow: Izd-vo EKMOS, 1998.

Section: Economics and Enterprise Management
UDC 330.322
Denysiuk O. V., Stokaz Y. M.
A Methodological Approach to Forming and Developing Strategic Knowledge of an Enterprise (p. 191 - 198)
The article presents a methodological approach to forming and developing strategic knowledge of an enterprise, the main idea of which is defining the concept “strategic knowledge of an enterprise”, as a key factor of development that manifests itself in expediency of management decisions; using best practices, business strategies, new models of market behavior; receiving innovative results in products, services and technologies. In accordance with the provision that professional knowledge and competence of management personnel are in the focus of strategic knowledge management, there singled out declarative, procedural and causal types of strategic knowledge of an enterprise. Declarative knowledge is fixed in normative documents and presented in a formalized form in reports, standards, plans, methods. Procedural knowledge is associated with developing and using tools and methodological support for a management system. Causal knowledge is related to creation of a material basis for effective operation of an enterprise. The identified types of strategic knowledge (declarative, procedural and causal) allowed to form a system of indicators and, through selecting an expert method of assessment, interpreting the results, to develop a set of measures for solving problematic issues regarding the formation and effective use of strategic knowledge in an enterprise. The methodological approach was tested in PJSC “KharP”. As experts, the top and mid-level management of the integrated UIEC company (the industrial group, which includes PJSC “KharP”) were chosen. In total, 15 managers participated in the survey. Summarizing the results of the practical approval of the methodological approach to forming and developing strategic knowledge of an enterprise, it should be noted that the main activities should be aimed at creating an effective training system in accordance with the following requirements: meeting the real needs for developing the competence of management personnel (often training programs are formal and do not contribute to improving knowledge of management personnel); consistency with management standards and compliance with international practices and management standards, best practices and specifics of the activity the enterprise is engaged in; orientation towards integrated use and development of declarative, procedural and causal knowledge.
Keywords: strategic knowledge, enterprise, types of strategic knowledge, methodological approach, assessment, system of indicators, expert method, complex of measures.
Fig.: 5. Tabl.: 1. Bibl.: 10.

Denysiuk Olga V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics, Management and Territory Management of a Separate Structural Subdivision, Institute of Innovative Education Kyiv National University of Civil Engineering and Architecture (4 Osvity Str., Kyiv, 03037, Ukraine)
Email: olga28.ovden9707@gmail.com
Stokaz Yana M. – Postgraduate Student, Department of Management and Business, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)

Reference to this article:
Denysiuk, Olga V., and Stokaz, Yana M. (2018) “A Methodological Approach to Forming and Developing Strategic Knowledge of an Enterprise.” The Problems of Economy 2:191–198.

List of references in article

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“Analiz konkurentnoho seredovyshcha konsultatsiinoho rynku Ukrainy ta vyznachennia stratehii rozvytku okremykh subiektiv“ [An analysis of the competitive environment of the Ukrainian consulting market and the definition of the development strategy of individual entities]. www.management.com.ua/cases/case007.html
Khodkinson, Dzh. P., and Sperrou, P. R. Kompetentnaya organizatsiya: psikhologicheskiy analiz protsessa strategicheskogo menedzhmenta [Competent organization: psychological analysis of the strategic management process]. Kharkiv: Gumanit. tsentr, 2007.
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Otenko, V. I. Stratehichnyi vybir pidpryiemstva ta yoho realizatsiia [Strategic choice of the enterprise and its realization]. Kharkiv: VD «INZhEK», 2010.

Section: Economics and Enterprise Management
UDC 005.35:319.17
Zhukovska V. M.
Social Dominants of Managing the Development of a Trade Enterprise (p. 199 - 205)
The aim of the article is the formation of methodological bases for assessing the state of management of social development of a trade enterprise on the basis of a convergent approach and transformation of values in the context of the digital society and innovations. The level of social management of an enterprise is presented as a function of the potentials of the social, ecological and intellectual vectors, each of them being characterized by a combination of quantitative and qualitative indicators. The social potential of development is expressed through indicators of effective and efficient management activity, employee involvement, and a new complex index of social attractiveness of an enterprise with respect to its stakeholders. It is substantiated that the potential of intellectual development effectively influences all social management processes and contributes to the innovative and social activity of a trade enterprise and its partners. The key indicators for assessing intellectual potential are the pace of development of intangible assets, the coefficient of online activity of the personnel in social networks, the level of competence development and / or the introduction of social innovations (their level of expenditure). There formulated the assessment criteria and the composition of indicators of environmental impact on the potential of an enterprise’s social development, share of eco-labeled goods; the total amount of waste and pollutant emissions; the volume of consumed renewable energy, water, gas; the volume of waste subject to recycling (in particular the information of enterprises about the number of types of waste sorting was used). The integral index of management of social potential can serve as a basis for monitoring the identification of problem areas for management, the formation of a social development strategy, and the ranking of domestic trade enterprises. The realization of the social dominants of the potential of the proposed concept by trade enterprises in practice will contribute to the achievement of the goals of the national strategy for sustainable development. Moreover, it provides for economic growth and the implementation of social guarantees, both for different groups of stakeholders separately and for the society as a whole.
Keywords: values of the digital economy, trade enterprise, social dominants of development management, social and ecological potentials, principles of the circular economy and intellectual convergence.
Fig.: 3. Formulae: 3. Bibl.: 19.

Zhukovska Valentyna M. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Management, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: valentyna2015@ukr.net

Reference to this article:
Zhukovska, Valentyna M. (2018) “Social Dominants of Managing the Development of a Trade Enterprise.” The Problems of Economy 2:199–205.

List of references in article

Mazaraki, A. “Instytutotvorcha funktsiia suchasnoi merezhevoi rozdribnoi torhivli“ [Institutional creative function of modern network retail trade]. Visnyk KNTEU, no. 4 (2016): 5-21.
Vovk, V. M. “Skladovi formuvannia yakosti obsluhovuvannia spozhyvachiv“ [Components of the formation of customer service quality]. Problemy ekonomiky, no. 4 (2017): 250-256.
Vlasova, N. O., and Kolchkova, O. V. Rozdribni torhovelni merezhi: rehionalni faktory rozvytku [Retail trade networks: regional development factors]. Kharkiv: KhDUKhT, 2012.
“Metodychnyi instrumentarii obgruntuvannia bazovoi stratehii upravlinnia stiikym rozvytkom torhovelnoho pidpryiemstva“ [Methodical tool for substantiating the basic strategy of managing the sustainable development of a trading enterprise]. Visnyk NTU «KhPI». Seriia : Tekhnichnyi prohres i efektyvnist vyrobnytstva, no. 45 (1018) (2013): 87-94.
Mishchuk, I. P., and Hradiuk, N. M. “Otsiniuvannia sotsialnoi vidpovidalnosti torhovelnykh pidpryiemstv: poshuk metodychnykh pidkhodiv“ [Assessment of the social responsibility of trading enterprises: the search for methodological approaches]. Biznes Inform, no. 5 (436) (2014): 200-204.
Sychova, N. V. “Sotsialnyi rozvytok pidpryiemstva“ [Social development of the enterprise]. Visnyk KNTEU, no. 4 (2015): 43-49.
Lytvynenko, A. V., and Ostroverkhova, H. V. “Zakhody sotsialnoho rozvytku pidpryiemstva: otsinka efektyvnosti ta upravlinnia“ [Measures of social development of an enterprise: estimation of efficiency and management]. Biznes Inform, no. 5 (436) (2014): 215-219.
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Piatnytska, H. T. “Dualnist naslidkiv plynnosti kadriv u vnutrishnii torhivli“ [The duality of the effects of personnel turnover in domestic trade]. Visnyk Kyivskoho natsionalnoho torhovelno-ekonomichnoho universytetu, no. 4 (2016): 114-128.
Kavun, S., and Zhosan, G. “Influence Determination of Social Responsibility to the Productivity Enterprise Activity Level“ Economies, no. 4 (3) (2016). doi:10.3390/economies4030014
Zubko, T., and Novikova, N. “Konkurentospromozhnist pidpryiemstva u systemi yoho ekonomichnoho potentsialu“ [Competitiveness of the enterprise in the system of its economic potential]. Visnyk KNTEU, no. 3 (113) (2017): 64-81.
Prokopenko, O. V., and Shkola, V. Yu. “Otsinka rivnia intelektualnoho potentsialu v systemi stratehichnoho upravlinnia innovatsiinym rozvytkom pidpryiemstv“ [Assessment of the level of intellectual potential in the system of strategic management of innovative development of enterprises]. Marketynh i menedzhment innovatsii, no. 1 (2010): 127-13.
Harmider, L. D. “Otsinka zadovolenosti zatsikavlenykh storin u rozvytku kadrovoho potentsialu torhovelnykh pidpryiemstv“ [Assessment of stakeholder satisfaction in the development of human resources of trading enterprises]. Ekonomichnyi nobelivskyi visnyk, no. 1 (2014): 104-112.
Peniuk, V. O. “Kadrovyi potentsial pidpryiemstva torhivli: vyznachennia ta skladovi elementy“ [Personnel potential of the trade enterprise: identification and constituent elements]. Biznes Inform, no. 6 (2015): 240-248.
Zhukovska, V. M. Sotsialnyi rozvytok orhanizatsii: potentsial, upravlinnia, innovatsii [Social development of the organization: potential, management, innovation]. Kyiv: KNTEU, 2018.
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Section: Economics and Enterprise Management
UDC 658.14/.17:640.4
Zavidna L. D.
Modeling the Financial Strategy of an Enterprise in the Hotel Industry (p. 206 - 213)
The aim of the article is to substantiate the theoretical and methodological foundations of modeling the financial strategy of an enterprise in the hotel industry, which will, depending on the forecast values of the results of economic and financial activities, determine the ability of the enterprise to effectively generate profits, reinvest, expand the scale of its activities, increase the attractiveness of business for owners of enterprises in the hotel industry. All approaches to the formation of the financial strategy of an enterprise in the hotel industry are based on financial models. The article presents the methodology for calculating the indicators of the matrix of financial strategy by Franshon and Romane and the matrix of the stages of financial development elaborated based on the three-factor DuPont model, which will allow to assess the financial aspect of the enterprise as a whole, i.e., to understand what is happening at the top of the pyramid of a huge number of separate financial parameters. Using the results of the study, there built a combined matrix of the financial strategy for development of an enterprise in the hotel industry, which is a constructive tool for efficient management of the resource potential of an enterprise in the hotel industry, since it allows to carry out integral assessment of the financial sustainability of the enterprise and the depth of the financial crisis, take into account the objectives of the functioning and the results of the activity on the key parameters — liquidity, financial sustainability and profitability. The area for completing the quadrants is proposed.
Keywords: modeling of financial strategy, hotel enterprises, matrix of financial strategy of Franshon and Romane, DuPont model, combined matrix of financial strategy.
Fig.: 1. Tabl.: 3. Formulae: 5. Bibl.: 11.

Zavidna Liudmyla D. – Associate Professor, Candidate on Doctor Degree, Department of Hotel and Restaurant Business, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: zldair98@gmail.com

Reference to this article:
Zavidna, Liudmyla D. (2018) “Modeling the Financial Strategy of an Enterprise in the Hotel Industry.” The Problems of Economy 2:206–213.

List of references in article

Kuzmenko, V. V., and Peshkova, A. A. Metodologiya formirovaniya finansovoy strategii ustoychivogo razvitiya subekta khozyaystvovaniya [Methodology for the formation of a financial strategy for sustainable development of a business entity]. Rostov-n/D: Rostizdat, 2010.
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Butyrina, V. M., and Vereshchaieva, V. A. “Vyznachennia finansovoi stratehii rozvytku pidpryiemstva“ [Definition of financial strategy of enterprise development]. http://www.nbuv.gov.ua/portal/chem_biol/nvnltu/
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Hrynyov, A. V., and Yastremska, O. M. “Yakist formuvannia finansovoi stratehii pidpryiemstva“ [Quality of formation of the financial strategy of the enterprise]. Finansy Ukrainy, no. 6 (2006): 121-128.
Dorofeyev, M. L. “Osobennosti primeneniya matritsy finansovykh strategiy Franshona i Romane v strategicheskom finansovom analize kompanii“ [Features of the application of the matrix of financial strategies of Francon and Romana in the strategic financial analysis of the company]. Finansy i kredit, no. 23 (359) (2009): 23-27.
Ihnatieva, I. A. Stratehichnyi menedzhment: teoriia, metodolohiia, praktyka [Strategic Management: Theory, Methodology, Practice]. Kyiv: Znannia Ukrainy, 2005.
Tkachuk, I. H. “Formuvannia finansovoi stratehii v systemi upravlinnia pidpryiemstvom“ [Formation of financial strategy in the enterprise management system]. Visnyk ZhDTU, no. 2 (2008): 301-304.
Mandrik, A. A. “Strategicheskoye planirovaniye deyatelnosti predpriyatiya“ [Strategic planning of the enterprise]. Kontsept. 2016. http://e-koncept.ru
“The DuPont System of Analysis“ https://corporatefinanceinstitute.com/resources/knowledge/finance/dupont-analysis/
“Mnogofaktornaya model Dyupon analiza effektivnosti deyatelnosti kompanii“ [Multifactorial model of DuPont analysis of the company's performance]. https://www.cfin.ru/press/afa/97_3_219-232.pdf

Section: Economics and Enterprise Management
UDC 339.924
Labunska S. V., Prokopishyna O. V., Iermachenko I. V.
Cognitive Modeling of the Startup Life Cycle (p. 214 - 220)
Under conditions of turbulent development of the world market, which takes place based on modern high-tech industries and introduction of IT technologies into all business processes, the problem of managing risky projects becomes extremely urgent. The innovative development of the global socio-economic system is impossible without the spread and intensification of activities of startups. Startup enterprises, despite the short period of their existence, play an important role in the processes of generating new knowledge, creating innovative projects and commercializing innovative ideas. Startups, as business units, constitute a separate subset of innovative enterprises, grouped according to scaling, using breakthrough innovative ideas, specific sources of financing and increased risk. Since the typical features of a successful startup are the rapid expansion of operations and high risks of financial and economic activity, a conditional time point at which both the risks and rates of growth in transaction volumes are simultaneously reduced can be defined as the fluctuation point at which the startup ceases to exist. The results of applying mathematical methods to process statistical information on the dynamics of the market proved that the fluctuation point of the life cycle of startups in Ukraine takes place in the time interval of the first year of financial and economic activities of the enterprise. During this interval, startup enterprises are oriented towards one of two alternatives: scaling operations on the basis of attracting investments and a significant expansion of activities or gradual curtailment of an innovative project in which investors’ financial resources could not be attracted. Both alternatives lead to the transmission of an enterprise from the class of startups to the class of large enterprises or the liquidation of the business. Startup enterprises in Ukraine have a high potential for innovation development and can become a driving force for the social and economic development of the country as a whole. In order to increase the positive effect of startup initiatives for the Ukrainian economy, it is necessary to solve a number of tasks, among which there are the expansion of information and financial support from the state, the formation of a favorable investment climate and infrastructure for the commercialization of innovative projects.
Keywords: cognitive modeling, enterprise life cycle, innovation, startup.
Fig.: 3. Tabl.: 1. Bibl.: 23.

Labunska Svitlana V. – Doctor of Sciences (Economics), Professor, Professor, Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: svetlana.lab@gmail.com
Prokopishyna Olena V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: elena_prokopishin@ukr.net
Iermachenko Iegor V. – Postgraduate Student, Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)

Reference to this article:
Labunska, Svitlana V., Prokopishyna, Olena V., and Iermachenko, Iegor V. (2018) “Cognitive Modeling of the Startup Life Cycle.” The Problems of Economy 2:214–220.

List of references in article

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Dovhal, O. A., and Dovhal, H. V. “Hlobalnyi innovatsiinyi prostir: peredumovy, spetsyfika i instrumenty formuvannia“ [Global Innovation Space: Prerequisites, Specifics, and Development Tools]. Problemy ekonomiky, no. 1 (2017): 15-20.
Dovhal, O. A., and Taran, A. Yu. “Teoretychni aspekty tekhnolohichnoho liderstva natsionalnykh ekonomik“ [Theoretical Aspects of Technological Leadership of National Economies]. Problemy ekonomiky, no. 2 (2016): 5-12.
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Section: Economics and Enterprise Management
UDC 331.102.12:005.95
Mykolaichuk I. P., Sychova N. V.
Intellectual Capital as a Basis for Developing Competencies of a Trade Enterprise (p. 221 - 227)
The aim of the article is to substantiate the economic essence, structure and features of the formation of intellectual capital (IC) as the organizational and economic basis for developing competencies of a trade enterprise. The essence of IC as an economic category and its role in the knowledge economy are analyzed. It is proposed to understand the essence of IC as a means of creating new value in an enterprise through the use of intellectual resources, which in turn contain intellectual capital, intellectual labor and intellectual products as a means of production. The place and importance of IC in developing competencies of domestic trade enterprises are substantiated. There given the author’s interpretation of the essence of IC of a trade enterprise, by which it is proposed to understand the aggregate of accumulated individual and collective, real and hidden knowledge, the level of competence, involvement and motivation of the personnel, the development of information and communication networks, and the results of the implementation of intellectual activity used by the enterprise to ensure its competitive advantages and profitability in the market. The structure of IC of a trade enterprise is studied and schematically constructed; the main features of human capital (at the level of an individual), structural (at the level of the organization) and consumer one (at the level of functional groups) are characterized. There identified the main characteristics of IC of a trade enterprise by features of depreciation of certain components, liquidity, contradictions in the modern practice of assessment and accounting, as well as features of synergistic interaction of its elements. Socio-economic trends in the innovative development of trade enterprises in Ukraine are outlined, among which the popularization of e-commerce, including the use of retail mobile applications by Ukrainian consumers, is decisive. There suggested the directions for developing IC of trade enterprises, the most promising being the increase in the level of competence of employees in the process of their group and individual training. The need for further studies of the mechanism for managing IC of trade enterprises as the basis for developing their competencies is substantiated.
Keywords: intellectual capital, knowledge economy, human capital, competences of a trade enterprise.
Fig.: 1. Tabl.: 1. Bibl.: 21.

Mykolaichuk Iryna P. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: mykirina@ukr.net
Sychova Nina V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)

Reference to this article:
Mykolaichuk, Iryna P., and Sychova, Nina V. (2018) “Intellectual Capital as a Basis for Developing Competencies of a Trade Enterprise.” The Problems of Economy 2:221–227.

List of references in article

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Section: Economics and Enterprise Management
UDC 339.137.22
Moskalenko N. O., Leonova Y. O.
Theoretical Approaches to Competitive Intelligence and Features of its Analytical Support (p. 228 - 234)
The article is an attempt of the authors to identify and describe the theoretical approaches that are valuable in the context of competitive intelligence and especially its analytical tools. It is suggested to consider competitive intelligence in terms of types of thinking of individuals that manage companies, determine the priority objectives of managing a business and approaches to managing the company. In this context, the theoretical approaches to competitive intelligence and the choice of its analytical tools are reactive and proactive ones, or opportunistic and strategic respectively. Companies are subdivided in accordance with applying one of approach in its pure form. This allows assessing the analytical tools used, determining their pros and cons, predicting results and also evaluating them based on the proposed scheme. Moreover, considering and studying any analytical activity by nature and types of managerial thinking, it is possible to carry out further research, form hypotheses, conceptual models, methodological approaches, practical tools. There developed and proposed a theoretical model, which can serve as a basis that in a generalized form gives an idea of the regularities of competitive intelligence.
Keywords: competitive intelligence, analytical tools, theoretical approach, reactive, proactive, model, type of thinking.
Fig.: 4. Bibl.: 14.

Moskalenko Natalia O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Business and Economic Analysis, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: kysto78@gmail.com
Leonova Yuliya O. – Postgraduate Student, Department of International Business and Economic Analysis, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)

Reference to this article:
Moskalenko, Natalia O., and Leonova, Yuliya O. (2018) “Theoretical Approaches to Competitive Intelligence and Features of its Analytical Support.” The Problems of Economy 2:228–234.

List of references in article

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Section: Economics and Enterprise Management
UDC 651.928
Otenko I. P., Komarkov D. V., Shkreben R. P.
A Strategy Toolkit Aimed at Ensuring Safe Development of an Enterprise (p. 235 - 241)
A strategy toolkit aimed at ensuring safe development of an enterprise is presented. The composition of the toolkit is represented by strategies, mechanisms (coordination, training, regulation, saving and protection ones), organizational methods, forms of strategic management of economic security, as well as methods for selecting and coordinating adaptive measures that meet enterprise targets. The classification of development strategies singles out passive and active strategies: strategies of passive survival are those that take advantage of existing opportunities and are typical modes of operation for enterprises in a stable environment; strategies of active survival are those aimed at active search and effective use of market opportunities; strategies of active influence on the external environment, including measures aimed at active search for and creation of new opportunities for enterprise development through innovation, strategic competencies and knowledge. The carried out analysis of activities of machine-building enterprises of Kharkov region revealed the features of measures oriented towards ensuring their safe development. Among the passive measures the most typical are supporting liquidity and stability of financial status; ensuring reliability of technical and technological processes; observing the regime of economy in using financial and economic resources; renting premises, equipment; providing freight transportation services. Active measures include conducting market research; implementing new developments and assimilating new technologies; searching for strategic partners and developing new markets; using new organizational forms of cooperation and integration. For the purpose of revealing actual threats in the external environment of activities of the machine-building enterprises, an analysis of environmental factors is carried out and an evaluation methodology is developed with the involvement of 12 experts — top level managers of machine-building enterprises in Kharkiv region. Based on the results of the evaluation, recommendations on the formation of a strategic toolkit aimed at ensuring safe development of machine-building enterprise are developed.
Keywords: strategy tools, enterprise, orientation towards safe development, strategies, organizational forms and methods, methodology, analysis, evaluation, recommendations.
Fig.: 1. Tabl.: 1. Bibl.: 10.

Otenko Iryna P. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of International Economic Relations, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: otenkoip@gmail.com
Komarkov Dmytro V. – Postgraduate Student, Department of Management and Business, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Shkreben Roman P. – Candidate of Sciences (Economics), Lecturer, Department of International Economic Relations, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)

Reference to this article:
Otenko, Iryna P., Komarkov, Dmytro V., and Shkreben, Roman P. (2018) “A Strategy Toolkit Aimed at Ensuring Safe Development of an Enterprise.” The Problems of Economy 2:235–241.

List of references in article

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Kozachenko, A. V., Ponomarev, V. P., and Liashenko, A. N. Ekonomicheskaya bezopasnost predpriyatiya: sushchnost i mekhanizm obespecheniya [Economic security of the enterprise: the essence and mechanism of provision]. Kyiv: Libra, 2003.
Liashenko, O. M., and Bezbozhnyi, V. L. “Zabezpechennia sotsialno-ekonomichnoi bezpeky pidpryiemstva yak funktsiia suchasnoho menedzhmentu“ [Ensuring socioeconomic security of the enterprise as a function of modern management]. Naukovi pratsi Donetskoho natsionalnoho tekhnichnoho universytetu. Seriia : Ekonomika, no. 33-1 (2008): 66-72.

Section: Economics and Enterprise Management
UDC 658.012.2
Prokhorova V. V., Davydova O. Y.
The Hierarchical System of Strategies for Innovative Management of the Development of Hotels and Catering Enterprises on an Active Adaptive Basis (p. 242 - 250)
The aim of the article is forming a hierarchical system of strategies for innovative management of the development of hotels and restaurant enterprises on an active adaptive basis under modern market conditions. The article considers the content of the analysis of the economic activity of hotels and restaurant enterprises and the intrinsic characteristic of intuitionism, which is an analytical and intuitive platform for the formation of a hierarchical system of strategies for innovative management of the development of hotels and restaurant enterprises. A set of components of the functional strategy of innovative management of the development of hotels and restaurant enterprises and a list of their alternatives is formed. The stages of choosing alternatives to the strategy of innovative management of the development of hotels and restaurant enterprises are determined. Based on the results of the study, an active adaptive hierarchical system of strategies for innovative management of the development of hotels and restaurant facilities is formed.
Keywords: management, development, innovative management of enterprise development, strategy, adaptability, activity.
Fig.: 5. Tabl.: 1. Bibl.: 13.

Prokhorova Viktoriia V. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Economics and Management, Educational and Scientific Institute "Ukrainian Engineering and Pedagogical Academy" of V. N. Karazin Kharkov National University (16 Unіversytetska Str., Kharkіv, 61003, Ukraine)
Email: vkprohkorova@gmail.com
Davydova Oksana Yu. – Candidate of Sciences (Engineering), Associate Professor, Associate Professor, Department of Hotel and Restaurant Business, Kharkiv State University of Food Technology and Trade (333 Klochkіvska Str., Kharkіv, 61051, Ukraine)
Email: davydova_oks@ukr.net

Reference to this article:
Prokhorova, Viktoriia V., and Davydova, Oksana Yu. (2018) “The Hierarchical System of Strategies for Innovative Management of the Development of Hotels and Catering Enterprises on an Active Adaptive Basis.” The Problems of Economy 2:242–250.

List of references in article

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Section: Economics and Enterprise Management
UDC 65.018:338.46
Trachenko L. A.
The Process Approach in Quality Management Systems in Enterprises of the Services Sector (p. 251 - 257)
The aim of the article is to define the role and place of the process approach in quality management systems and justify its integration with business processes of service enterprises. The relevance of the implementation of quality management systems in enterprises in the context of the requirements of the international standard ISO 9001: 2015 is substantiated. The role of quality management systems in sustainable development of service enterprises is defined. The essence of the process approach is revealed, and the scheme of a single process in the quality management system is provided. The main aspects of the process approach in quality management systems are investigated, and it is noted that to ensure the relevant processes, an enterprise should determine its quality objectives, inputs, outputs, activities, and resources. Attention is focused on the fact that the quality objectives of processes of an organization’s quality management system should be correlated with its business objectives and should not contradict each other. The key benefits and advantages of the process approach in quality management systems are revealed. It is proved that the first step in the way of ensuring effective quality management should be an understanding of the structure of business processes by enterprise managers, which will enable them to identify where the source of signals informing about quality loss is. The integration of an enterprise’s quality management system with its general management is justified. The existing theoretical approaches to the introduction of the process approach into enterprise business processes are generalized. The author presents a structure of the standard ISO 9001: 2015 in the format of the PDCA cycle, and it is indicated that the Deming cycle allows an enterprise to provide its processes with necessary resources, manage them, identify and implement opportunities for their improvement.
Keywords: process approach, ISO 9001:2015 standard, services sector, quality management system, business process, enterprise management, Deming cycle.
Fig.: 3. Bibl.: 17.

Trachenko Lyudmila A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Expertise of Goods and Services, Odesa National Economic University (8 Preobrazhenska Str., Odesa, 65082, Ukraine)
Email: auditor.kandidat@ukr.net

Reference to this article:
Trachenko, Lyudmila A. (2018) “The Process Approach in Quality Management Systems in Enterprises of the Services Sector.” The Problems of Economy 2:251–257.

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Maltsev, S. V. “Protsessnyy podkhod k upravleniyu: teoriya i praktika primeneniya“ [Process approach to management: theory and practice of application]. http://www.cfin.ru/itm/bpr/t&p.shtml
Kiselev, A. G. “Biznes-protsessy i protsessnyy podkhod: kak preodolet posledstviya konsaltingovogo marketinga“ [Business processes and process approach: how to overcome the consequences of consulting marketing]. http://orgstructura.ru/business-processes-andprocess-approach
Sobakareva, A. V. “Sravneniye metodik perekhoda k protsessnomu podkhodu v upravlenii na predpriyatii“ [Comparison of the methods of transition to the process approach in enterprise management]. Problemy sovremennoy ekonomiki. Yevraziyskiy mezhdunarodnyy nauchno-analiticheskiy zhurnal. 2007. http://www.m-economy.ru/art.php?nArtId=1731
Lysenko, O. M. “Systemy upravlinnia yakistiu: osoblyvosti vprovadzhennia zhidno z novoiu versiieiu standartu ISO 900“ [Quality management systems: features of implementation in accordance with the new version of the ISO 900 standard]. Visnyk Skhidnoievropeiskoho universytetu ekonomiky i menedzhmentu. Seriia : Ekonomika i menedzhment. 2016. http://nbuv.gov.ua/UJRN/Vsuem_2016_1_6
Kuznetsova, I. O., and Karpenko, Yu. V. “Rozvytok protsesnoho pidkhodu u kontseptsii zahalnoho menedzhmentu yakosti“ [Development of the process approach in the concept of overall quality management]. Visnyk sotsialno-ekonomichnykh doslidzhen. 2012. http://nbuv.gov.ua/UJRN/Vsed_2012_2_21

Section: Economics and Enterprise Management
UDC 336.658.152-047.44:334.78:339.13-027.11
Usherenko S. V., Kharchenko Y. Y.
Evaluation of Investment Projects in Undeveloped Markets (p. 258 - 267)
Using the example of a diversified industrial enterprise, there developed an approach to evaluating the prospects of the implementation of an innovation and investment project on manufacturing a product under conditions of an undeveloped sales market as well as associated risks. It is substantiated that the project can be promising due to its social significance manifested in obtaining environmental, social, and environmental effect from it realization. To evaluate alternative investment projects, there developed a methodological approach that implies analysis according to the following scheme: volume of the market for the product, designed capacity and production technology, competitive environment; characteristics of consumers. This will allow to demonstrate the advantages and disadvantages of each of the alternative projects at the initial stage of the study. The effectiveness and expediency of the project implementation should be evaluated by the following indicators: payback period (PP), accounting rate of return (ARR), net present value (NPV), profitability index (PI), discounted payback period (DPP), internal rate of return (IRR). When making the decision about the implementation of a particular project, its social effect as well as the forecast of future cash flows reflecting changes in their value over time with regard to the discount rate should be taken into account. In developing markets, it is most appropriate to take for the discount rate the weighted average cost of capital, which is calculated in accordance with the CAPM model using the central bank discount rate as risk-free rate, and to calculated the risk premium using the methodology developed by A. Damodaran, based on the data on the country’s credit rating by Moody’s. The identification of the main risks of the project is possible by conducting an expert survey providing for the evaluation of importance and probability of occurrence of individual risk. The subjectivity of an expert survey has to be reduced by identifying the main mental traps. A more in-depth study of an impact of each risk has to be conducted by using the VaR concept and analysing the sensitivity of impact of simultaneous two risks to the net present value of the project.
Keywords: investment project, weighted average cost of capital, capital asset pricing model, net present value, analysis of sensitivity, value at risk.
Fig.: 5. Tabl.: 11. Formulae: 3. Bibl.: 12.

Usherenko Svitlana V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Corporate Finance and Controlling, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: usherenko_svitlana@kneu.edu.ua
Kharchenko Yevhinii Yu. – Masters Student, Department of Corporate Finance and Controlling, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: kharchenko_yevhenii@kneu.edu.ua

Reference to this article:
Usherenko, Svitlana V., and Kharchenko, Yevhinii Yu. (2018) “Evaluation of Investment Projects in Undeveloped Markets.” The Problems of Economy 2:258–267.

List of references in article

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Section: Economics and Enterprise Management
UDC 331.1
Shchetinina L. V., Rudakova S. G., Lobunets I. S.
Non-Monetary Motivation of Staff as a Way to Increase Efficiency of its Work (p. 268 - 275)
The article is dedicated to investigating non-monetary motivation of staff as well as analyzing non-material factors that influence growth of staff productivity. Scientific publications highlighting the issue of staff motivation and its influence on efficiency of employees’ work are analyzed. The existing theories of motivation are considered in the context of their using to provide non-monetary incentives for staff members. There analyzed the ways of applying popular motivation theories in the context of non-monetary incentives. Based on the results of own sociological research, the list of recommendations on introducing a system of non- monetary motivation of employees is developed. The study of the staff portal and the survey itself showed that non-monetary incentives have a significant impact on staff productivity, allow attracting special categories of employees, and improve the prestige of a company. The importance of introducing a system of non-monetary motivation, its impact on the image of a company in the eyes of employees, and the advantages of applying this type of motivation in the system of monetary incentives are determined. Using the information analyzed, a list of practical suggestions on the application of non-material incentives for staff members is created. The developed recommendations include those that require funding on the part of the administration of a company, namely: staff training, introducing a bonus system, organizing a place for recreation; as well as those that are absolutely free: recognizing merits of employees, creating a favorable psychological climate and conditions for career growth. The research results allowed to determine that an effective system of non-monetary motivation well supplements monetary incentives, improves the image of a company, increases employee loyalty, and ensures growth of staff productivity. The issue of non-monetary incentives requires further research, since motivation of employees will always be a relevant issue for enterprises seeking to become leaders and effectively use such a resource as staff.
Keywords: motivation, non-monetary motivation, theory of motivation.
Fig.: 3. Bibl.: 10.

Shchetinina Ludmila V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Personnel Management and Labour Economics, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: sludval@ukr.net
Rudakova Svetlana G. – Candidate of Sciences (Engineering), Associate Professor, Associate Professor, Department of Personnel Management and Labour Economics, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: svetlana.rudakova.home@gmail.com
Lobunets Iryna S. – Student, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: ira.LIS2018.ln@gmail.com

Reference to this article:
Shchetinina, Ludmila V., Rudakova, Svetlana G., and Lobunets, Iryna S. (2018) “Non-Monetary Motivation of Staff as a Way to Increase Efficiency of its Work.” The Problems of Economy 2:268–275.

List of references in article

“Hroshi i strakh: shcho motyvuie ukraintsiv na roboti“ [Money and fear: what motivates Ukrainians at work]. Syohodni. https://ukr.segodnya.ua
Motivatsiya personala v sovremennoy organizatsii [Motivation of staff in a modern organization]. St. Petersburg: OOO «Knizhnyy Dom», 2007.
Pohorielova, T. O., and Yurchenko, V. A. “Moralne ta materialne stymuliuvannia pratsi na suchasnomu etapi rynkovykh vidnosyn“ [Moral and material stimulation of labor at the present stage of market relations]. Visnyk NTU. 2015. http://vestnik.kpi.kharkov.ua/
Kolot, A. M., and Tsymbaliuk, S. O. Motyvatsiia personalu [Motivation of staff]. Kyiv: KNEU, 2011.
Vinnykova, I. I, and Marchuk, S. V. “Osnovy teorii motyvatsii“ [The basics of the theory of motivation]. http://kneu.edu.ua
“Nematerialna motyvatsiia personalu - yak motyvuvaty personal, yakshcho nemaie hroshei: 7 korysnykh porad ta praktychni pryklady + profesiina dopomoha u pidvyshchenni motyvatsii spivrobitnykiv“ [Intangible motivation of staff - how to motivate staff if there is no money: 7 useful tips and practical examples + professional assistance in enhancing employee motivation]. BigEnergy. http://bigenergy.com.ua
“Teoriia motyvatsii Duhlasa Mak-Hrehora“ [Theory of motivation Douglas McGregor]. Vikipediia - vilna entsyklopediia. https://uk.wikipedia.org
“Teorii motyvatsii V. Vruma“ [Theories of motivation V. Vruma]. Vikipediia - vilna entsyklopediia. https://uk.wikipedia.org
Nohales, K. “Teoriia motyvatsii Alderfera“ [Theory of Alderfer's motivation]. 4BRAIN. https://4brain.ru
Nohales, K. “Dvofaktorna teoriia motyvatsii Hertsberha“ [Two-factor theory of motivation of Herzberg]. 4BRAIN. https://4brain.ru

Section: Economic theory
UDC 330.446:330.31::[330.342.141+330.342.151]
Buleev I. P., Bryukhovetskaya N. Y.
A Comparative Analysis of the Driving Forces of Capitalist and Socialist Economies: Possibilities of Application in Ukraine (p. 276 - 288)
Based on the application of the formation approach to the development of the economic and social structure of countries, a comparative analysis of the capitalist and socialist economies is carried out. The inconsistency of the materialist doctrine of the socio-economic formation is shown. The illegitimacy of ignoring spirituality, values of society and elites in the economic development of countries is proved. The thesis that the basis of society is not the economy but spirituality of society is substantiated. To understand the driving forces of capitalism and socialism, there used economics and chrematistics, the latter considers not physical indicators, as economics does, but is aimed at exploitation, usury. Approaches to the assessment of the economy as a dynamic, constantly changing internal and external social development are considered. There studied the evolution of capitalism in terms of improving skills of employees, level of income, formation of the middle class, creation of forms of social security — insurance, the pension system. It is proved that the fundamentals of capitalism remain unchanged: the industrial material and technical base, private ownership of the means of production, the social form of production under the private capitalist form of appropriation, liberalism as the dominant theory in economics. Characteristic features of the socialist mode of production, the Soviet economy are revealed. It is proved that all above mentioned ensured the application of countervailing mechanisms of economic development, active introduction of the achievements of scientific and technical progress, belief of the population in social justice in society, care of the state about man, and confidence in the future. Proposals are made as to changing the methodology of economic research and real reforms in favor of the primacy of fundamental moral values, evaluation of activities by physical rather than cost indicators.
Keywords: capitalist economy, socialist economy, capitalism, chrematistics.
Tabl.: 1. Formulae: 5. Bibl.: 39.

Buleev Ivan P. – Doctor of Sciences (Economics), Professor, Chief research scientist, Department of Problem of Enterprise Economics, Institute of Industrial Economics of NAS of Ukraine (2 Mariia Kapnist Str., Kyiv, 03057, Ukraine)
Email: buleev.ivan@gmail.com
Bryukhovetskaya Natalya Ye. – Doctor of Sciences (Economics), Professor, Head of, Department of Problems of Enterprise Economics, Institute of Industrial Economics of NAS of Ukraine (2 Mariia Kapnist Str., Kyiv, 03057, Ukraine)
Email: n.bryukhovetskaya@gmail.com

Reference to this article:
Buleev, Ivan P., and Bryukhovetskaya, Natalya Ye. (2018) “A Comparative Analysis of the Driving Forces of Capitalist and Socialist Economies: Possibilities of Application in Ukraine.” The Problems of Economy 2:276–288.

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Katasonov, V. Yu. “Tayny kapitalizma“ [Secrets of capitalism]. Tayny kapitalizma 1 (Poznavatelnoye TV, Valentin Katasonov). https://www.youtube.com/watch?v=1-Yw3D_zUeY
Katasonov, V. Yu. Tsifrovyye finansy. Kriptovalyuty i elektronnaya ekonomika. Svoboda ili kontslager [Digital finance. Crypto currency and e-economy. Freedom or concentration camp]. Moscow: Knizhnyy mir, 2017.
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Buleyev, I. P. “Ekonomika Ukrainy na sovremennom etape: institutsionalnyy aspekt“ [The economy of Ukraine at the present stage: the institutional aspect]. Visnyk ekonomichnoi nauky Ukrainy, no. 1 (28) (2015): 26-34.
Buleyev, I. P. “Nekotoryye aspekty funktsionirovaniya ekonomiki Ukrainy na sovremennom etape yeye razvitiya“ [Some aspects of the functioning of the Ukrainian economy at the present stage of its development]. Problemy ekonomiki, no. 1 (2015): 49-58.
Buleyev, I. P., and Bryukhovetskaya, N. Ye. “Formirovaniye institutsionalnoy sredy v transformiruemykh ekonomikakh postsotsialisticheskikh stran“ [Formation of the institutional environment in the transforming economies of post-socialist countries]. Problemy ekonomiki, no. 4 (2016): 13-21.

Section: Economic theory
UDC 330.101.5
Panchyshyn S. M., Hrabynska I. V.
On Political Economy and Economics as the Branches of Economic Knowledge (p. 289 - 295)
The article is dedicated to the methodological discourse on certain aspects of the improvement of the domestic economic terminology system and objective changes in the national economic science and education at the end of the 20th - beginning of the 21st century, which is a reflection of changes in both the system of economic knowledge and transformational changes in economic practice. There substantiated the necessity and relevance of using in the domestic economic terminology system the term “analitychna economika” as the one correspondent to the English term “Economics”, which reflects the analysis as a core method of investigation of economic reality and, at the same time, an organic combination of theoretical and applied economics. The theoretical and methodological approach of an American economist H. Varian to the analysis of the relationship between “Economic Theory” and “Economics” is further developed, which provided the basis to interpret economic theory as a method or tool of economics. It is concluded that political economy has become a leading direction in the development of modern economic science, a kind of interface between economics and political sciences, which emphasizes the problems of achieving social efficiency and explains the way political institutions and the economic system affect each other. There analyzed the experience of western universities in the programming of educational specializations within the field of “Economics”, which provides for the identification of a number of educational programs (Ecological Economics, International Economics, Business Economics, Economics of Development, Health Care Economics, etc.). The using of this experience will allow bringing the economic education in Ukraine closer to economic practice and promote its integration into the world educational and economic space.
Keywords: economics, political economy, economic theory, terminology system, political institutions, social efficiency, scientific method, educational program.
Bibl.: 14.

Panchyshyn Stepan M. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Analytical Economy and International Economics, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79000, Ukraine)
Email: stepan.panchyshyn@lnu.edu.ua
Hrabynska Iryna V. – Candidate of Sciences (Economics), Professor, Professor, Department of Analytical Economy and International Economics, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79000, Ukraine)
Email: iryna.hrabynska@lnu.edu.ua

Reference to this article:
Panchyshyn, Stepan M., and Hrabynska, Iryna V. (2018) “On Political Economy and Economics as the Branches of Economic Knowledge.” The Problems of Economy 2:289–295.

List of references in article

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Savchuk, V. S. “Mistse i rol politekonomii u blotsi dystsyplin ekonomichnoi teorii“ [The place and role of political economy in the block of disciplines of economic theory]. Problemy vykladannia ekonomichnoi teorii. Kyiv: KNEU, 1999. 5-13.
Balaam, D. N., and Veseth, M. A. “Political Economy“ Encyclopedia Britannica. https://www.britannica.com/topic/political-economy
Besley, T. “The New Political Economy“ The Economic Journal vol. 117 (2007): 570-587.
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Varian, H. R. “What Use is Economic Theory?“ In Variants in Economic Theory: Selected Works of Hal R. Varian. Economists of the Twentieth Century, 352-381. Edward Elgar Pubishing, 2000.

Section: Finance and banking
UDC 336.226.212.1:336.14:352
Dub A. R.
Real Estate Taxation: World Experience and Situation in Ukraine (p. 296 - 303)
The share of the tax on real estate, other than land plots, in tax revenues of local budgets in Ukraine is much lower than in other countries around the world. The aim of the article is to identify, on the basis of analysis of the world experience in real estate taxation, the problems related to the small share of the tax on real estate, other than land plots, in local budget revenues in Ukraine, and to find possible solutions to them. The carried out analysis of the significance of the tax on real estate, other than land plots, in tax revenues of local budgets and in the group of property taxes in countries of the world revealed that the real estate tax is an important source of financial resources at the local level in many foreign countries. The expediency of levying the tax on real estate is justified. Approaches to the establishment of the real estate base are described; their advantages and disadvantages are highlighted. The powers of local self-government bodies to define the tax base, establish tax rates and privileges are characterized. Features of the Ukrainian system of taxation of real estate, other than land plots, are given. There estimated the amount of the tax on real estate, other than land plots, in the tax revenues of local budgets in Ukraine. It is revealed that the incompleteness of the State Register of Rights to Real Estate, the lack of a tax base close to the market value and the political will of local governments on enhancing measures to increase revenues from real the estate tax are the main reasons for the insignificant role of revenues from the real estate taxation in tax revenues of local budgets in Ukraine. The proposed ways to increase revenues to local budgets from the real estate taxation by taking inventory of all real estate and making changes in the mechanism of tax administration, in particular, the tax base and rates.
Keywords: real estate, real estate tax, local budget, tax base, market value, local government.
Fig.: 3. Bibl.: 12.

Dub Andrii R. – Candidate of Sciences (Economics), Associate Professor, Senior Research Fellow, Department of Regional Financial Policy, Institute of Regional Research named after V. I. Dolishniy of the NAS of Ukraine (4 Kozelnytska Str., Lvіv, 79026, Ukraine)
Email: oak_an@ukr.net

Reference to this article:
Dub, Andrii R. (2018) “Real Estate Taxation: World Experience and Situation in Ukraine.” The Problems of Economy 2:296–303.

List of references in article

Atamanchuk, N. “Mirovoy opyt nalogooblozheniya nedvizhimogo imushchestva i vozmozhnosti yego vnedreniya v Ukraine“ [World experience of real estate taxation and the possibility of its implementation in Ukraine]. Legea Si Viata (Zakon i zhizn), no. 5/4 (2015): 3-6.
Boboshko, N. M. “Teoriya i praktika nalogooblozheniya nedvizhimosti“ [Theory and practice of real estate taxation]. Innovatsionnoye razvitiye ekonomiki, no. 2 (2013): 48-51.
Strovolidis, G., and Vappas, T. “A Comparative Study on Real Estate Property Taxation in Europe. UIPI Taxation Committee“ http://uipi.com/new/wp-content/uploads/2014/12/UIPI-Comparative-Analysis-on-Real-Estate-Taxation-2013.pdf
Domnina, S. V. et al. “Novyy nalog na nedvizhimost: plyusy i minusy“ [A new property tax: the pros and cons]. Osnovy ekonomiki, upravleniya i prava, no. 6 (2014): 28-33.
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Section: Finance and banking
UDC 336.71
Zarutska O. P.
The Justification of the Possibility for Introducing a System for Analyzing a Regulated Stock Market (p. 304 - 309)
The article presents the justification of the need to introduce an analysis system into the activity of a regulated stock market in order to reveal facts of manipulation. In this aspect, the possibilities of mathematical grouping of homogeneous elements of complex economic systems to analyze and monitor their state are presented. The formation of structural and functional groups is carried out using a neural network model of clustering — Kohonen self-organizing maps. The proposed methods of structural and functional groups have already been used for conducting an early diagnosis of financial stability of banks and classifying their business models. The relevant tools are proposed to be distributed for the analysis and monitoring of a stock market in order to identify transactions with an increased risk of manipulation. An effective and objective monitoring of any market segment requires identifying high-risk objects and using modern methods for processing report data. Stability of the market development is largely determined by the existence of clear rules and understandable restrictions brought to the notice of market participants. To properly perform the functions of the state regulator of a stock market, there needed methodological developments that determine the conditions for control, application of measures of influence, sanctions for violations. Transparent and unambiguous formulations of conditions create the necessary basis for coordinated work of market participants. The development of appropriate tools requires modern mathematical methods, including the use of the method of structural and functional groups.
Keywords: stock market monitoring, market manipulation, cluster analysis, neural networks, structural and functional groups, Directive 2014/57 / EU.
Bibl.: 16.

Zarutska Olena P. – Doctor of Sciences (Economics), Head of the Department, Department of Money and Banking, University of Customs and Finance (2/4 Volodymyra Vernadskoho Str., Dnipro, 49004, Ukraine)
Email: helenazarutskaya@gmail.com

Reference to this article:
Zarutska, Olena P. (2018) “The Justification of the Possibility for Introducing a System for Analyzing a Regulated Stock Market.” The Problems of Economy 2:304–309.

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Section: Finance and banking
UDC 336:338.4
Ilchuk V. P., Shpomer T. O.
Financial Support for Sustainable Development of Enterprises in the Real Sector of the Economy (p. 310 - 316)
The role and importance of financial support in the development of public production are revealed. A retrospective review of definitions of the concept “financial support” is given. Proceeding from the systems analysis of the concepts considered, the authors’ interpretation of this concept, based on formalization of the stages of the financial security process, is proposed. There considered components of the potential of financial support, which contribute to meeting the needs to finance investment and innovation projects. A scheme of the general approach to the process of financial support at various socio-economic levels of the economy is proposed, including the definition of policy of financial support for the industry, region, country; the development of a strategy as a system of measures to realize the general direction of investment support within the framework of the investment policy; the development of a financial support mechanism that includes consistent practical actions to find, attract and use financial resources. The criteria for assessing financial support for the reproduction of fixed assets of manufacturing enterprises are determined.
Keywords: financial support, sustainable development, systems analysis, investment policy, financial resources, fixed assets reproduction.
Fig.: 4. Tabl.: 2. Bibl.: 14.

Ilchuk Valerii P. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance, Banking and Insurance
Email: ivp5@ukr.net
Shpomer Tetiana O. – Postgraduate Student, Department of Finance, Banking and Insurance
Email: tanya_shpomer@ukr.net

Reference to this article:
Ilchuk, Valerii P., and Shpomer, Tetiana O. (2018) “Financial Support for Sustainable Development of Enterprises in the Real Sector of the Economy.” The Problems of Economy 2:310–316.

List of references in article

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Section: Finance and banking
UDC 351.72
Krivtsova Т. О., Liadova Y. O.
Trends in the Development of Audit of Public Finances in the Context of Reforming the System of Public Financial Control (p. 317 - 327)
The aim of the article is the theorizing of trends in the development of audit of public finances in the context of reforming the system of public financial control in Ukraine and providing practical recommendations to improve the efficiency of the system of public financial control, taking into account the trends in the development of audit of public finances in Ukraine. In the article there used such research methods as induction and deduction, analysis and synthesis, methods of establishing causation, statistical analysis method. The analysis and research of regulatory legal acts, as well as the results of the activity of the State Audit Service of Ukraine, made it possible to determine the methodology and staffing related directions of reforming the system of public financial control in Ukraine. Measures on the introduction and development of audit of public finances in the activity of public sector bodies and the State Audit Service are planned and the achievements systematized. Based on the analysis of scientific works on the problem and the relevant domestic and international legislation, the classification of audit of public finances as a form of public financial control in the context of reforming the system of public financial control is generalized. There substantiated the directions for increasing the efficiency of the functioning of the system of public financial control, with regard to the trends in the development of audit of public finances in Ukraine. Practical realization of the trends in the development of audit of public finances, determined by the authors of the article, will make it possible to increase the effectiveness of reforming the system of public financial control, which in turn is the determining factor in the reform of the public financial management system, and hence the financial security of the state. In this regard, it is appropriate to focus the further work on studying the best practices of developed countries and world trends in the field of audit of public finances by supreme audit institutions.
Keywords: control, public financial control, audit of public finances, public sector auditing, reform of the system of public financial control, State Audit Service of Ukraine.
Fig.: 5. Bibl.: 60.

Krivtsova Тetiana О. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: krtatyana078@ukr.net
Liadova Yuliia O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: uliia.liadova@gmail.com

Reference to this article:
Krivtsova, Тetiana О., and Liadova, Yuliia O. (2018) “Trends in the Development of Audit of Public Finances in the Context of Reforming the System of Public Financial Control.” The Problems of Economy 2:317–327.

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Section: Finance and banking
UDC 336.14.352
Kuzkin Y. Y.
Formation of the Fiscal Space of Local Self-Government in the Context of Decentralization of Public Finances (p. 328 - 334)
The aim of the research is the theoretical substantiation of the structure and the definition of the peculiarities in forming the fiscal space of local self-government in the context of decentralization of public finances. The main approaches to identification of the essence of fiscal space are determined, including the targeted, quantitative, resource, expenditure, efficiency, dynamic, institutional one. The prerequisites for local authorities to achieve real subjectivity in the fiscal sphere as part of the process of decentralization of public finances and reform of the system of interbudgetary relations in Ukraine are established. There proposed the definition of the essence of the fiscal space of local self-government as a set of economic processes and economic relations localized within a certain territory, the results of which, within the framework of fiscal mechanisms of the state, determine, based on developing and implementing active fiscal policy, the financial potential that can be used for implementing by self-government authorities at the local level a range of solutions in the field of regional development in compliance with the requirements and restrictions concerning the preservation of financial sustainability of the state and its regions. Furthermore, there presented an approach to the structuring of the fiscal space of local self-government. It is proved that the formation of the fiscal space of local self-government is a complex sequence of the deployment of economic phenomena and processes, in the course of which the formation of fiscal capacity, budgetary capacity takes place.
Keywords: fiscal space, fiscal policy, taxation, public finances, state budget, fiscal capacity, budgetary capacity.
Fig.: 1. Bibl.: 15.

Kuzkin Yevgen Yu. – Candidate of Sciences (Economics), Associate Professor, Director, Department of Local Budgets, Finance Ministry of Ukraine (12/2 M. Hrushevskoho Str., Kyiv, 01008, Ukraine)
Email: kuzkinevgenyu@gmail.com

Reference to this article:
Kuzkin, Yevgen Yu. (2018) “Formation of the Fiscal Space of Local Self-Government in the Context of Decentralization of Public Finances.” The Problems of Economy 2:328–334.

List of references in article

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Section: Finance and banking
UDC 338.22:336.64
Lukiashko P. O.
The Experience of Using Financial Instruments for the Modernization of the Electric Power Sector by the Countries of South Asia (p. 335 - 343)
The aim of the article is to summarize the experience of countries of South Asia regarding the introduction of financial instruments for the modernization of the electric power sector. The data on the use of financial instruments for the modernization of the electric power sector by the governments of countries of South Asia are systematized. Along with the grouping of financial instruments by countries, the transformation of the structure of electricity generation in terms of primary sources for 2000-2015 is assessed as well. As a result of the study, there made a conclusion about the determining role of objective factors of a country’s economic development in the technological transformation of its electric power sector. The factors include the lack of investment resources, failure to meet demand, unreliability of the most widespread sources of renewable energy (sun and wind) in the region in terms of power generation stability. Under current conditions, the actions of governments regarding the introduction of financial instruments to stimulate the modernization of the electric power sector are of secondary importance.
Keywords: renewable energy sources, electric power industry, technological structure of the electric power sector, financial instruments.
Fig.: 5. Tabl.: 2. Bibl.: 29.

Lukiashko Pavlo O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Insurance, Chernihiv National Technological University (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: pavelluk@ukr.net

Reference to this article:
Lukiashko, Pavlo O. (2018) “The Experience of Using Financial Instruments for the Modernization of the Electric Power Sector by the Countries of South Asia.” The Problems of Economy 2:335–343.

List of references in article

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Section: Finance and banking
UDC 330.8:336.11: 336.025
Tomniuk T. L.
Financial Regulation in the Leading Economic Theories of XX-XXI Centuries (p. 344 - 349)
The aim of the article is to determine the place of the state financial regulation in the postulates of the basic economic theories of XX-XXI centuries. There carried out an analysis, systematization and generalization of scientific works of outstanding scientists — founders and representatives of various directions of the economic theory of XX-XXI centuries — about the participation of the state in the regulation of economic development. The main postulates of state regulation of the economy in such concepts as Keynesianism, monetarism, the supply theory, institutionalism are singled out. It is substantiated that the state participation in redistribution processes through using financial instruments is defined practically in all economic theories, however, with the levels of domination and efficiency as an instrument for providing economic reforms being different. The wide use of financial levers for stabilizing the economic situation, smoothing cyclical fluctuations, maintaining high growth rates and high employment in the Keynesian model, the supply theory, institutionalism are demonstrated. The non-recognition of financial policy as a means to stabilize the economy by monetarism is testified. It is concluded that there are advantages and disadvantages in financial regulation of the economy in each of the economic theories under consideration. It is determined that the predominance of this or that concept depends on the general economic policy of the state and the goals of state regulation. It is argued that in the recent history of Ukraine’s financial policy, the approaches determined by the supply theory dominate, in particular since the entry into force of the Tax Code of Ukraine, the amount of taxes and fees has been reduced, the income tax rate and the single contribution to the compulsory state social insurance have been reduced. Prospects for further research in this direction are defining the economic doctrine of Ukraine and effective instruments for financial regulation of the economy to ensure economic growth.
Keywords: state regulation of economy, financial regulation, market economy, taxes, Keynesianism, monetarism, supply theory, institutionalism.
Fig.: 1. Bibl.: 10.

Tomniuk Tetiana L. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Entrepreneurship, Chernivtsi Trade and Economics Institute of Kyiv National Trade and Economics University (7 Tsentralna Square, Chernivtsi, 58002, Ukraine)
Email: tltomnyuk@gmail.com

Reference to this article:
Tomniuk, Tetiana L. (2018) “Financial Regulation in the Leading Economic Theories of XX-XXI Centuries.” The Problems of Economy 2:344–349.

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Section: Finance and banking
UDC 336.1
Khomutenko А. V.
Methodological Tools for Managing Public Finances (p. 350 - 356)
The aim of the article is to improve the theoretical and methodological bases of public financial management by streamlining and enriching the methodological tools for its purposeful impact. With this regard, there defined the content of the term “mechanism for managing public finances“ as a system of public financial management in operation. This allowed for focusing the research on one of the elements of the system — management activities implemented through the application of certain methods and tools. A theoretical distinction of the terms of “method” and “tool” is carried out, which enabled streamlining the main methods and tools for managing public finances. The author proposes the methods to be grouped by classical functions of management, and tools — in view of the component of public finances. A suggestion is made that as a result of ineffective management of public finances, there formed a stable tendency to increasing budget deficit, which is covered by issuance and / or state borrowings. The latter ones, in turn, lead to the formation of public debt, and the correct choice of management tools will ensure its reduction or controlled rational growth. The necessity of applying modern tools in managing public finances is justified (e.g., financial logistics, reengineering, benchmarking, etc.), which will improve the effectiveness of the management mechanism. Due to the disclosure of the essence of innovative tools for managing public finances, their possible positive impact on the management system as a whole is argued. It is believed that the use of the developed methodological tools in managing public finances will help to improve the level of satisfaction of public interests.
Keywords: management, public finances, mechanism, tools, methods, functions.
Fig.: 2. Bibl.: 22.

Khomutenko Аlla V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Odesa National Economic University (8 Preobrazhenska Str., Odesa, 65082, Ukraine)
Email: 24.06.alla@gmail.com

Reference to this article:
Khomutenko, Аlla V. (2018) “Methodological Tools for Managing Public Finances.” The Problems of Economy 2:350–356.

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Khomutenko, A. V. “Finansova lohistyka ta innovatsii v upravlinni derzhavnymy finansamy“ [Financial logistics and innovation in public finance management]. Hlobalne upravlinnia: teoriia ta praktyka. Afiny: Yevro-Seredzemnomorska Akademiia mystetstv i nauk, 2015. 146-149.
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Partyn, H. O., and Didukh, O. V. “Osnovni vydy autsorsynhu ta yikh zastosuvannia v upravlinni diialnistiu pidpryiemstva“ [The main types of outsourcing and their application in managing the activities of the enterprise]. http://ena.lp.edu.ua:8080/bitstream/ntb/16661/1/371-637-638.pdf
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Section: Social economy, policy and demography
UDC 364.262.4
Berezina S. B.
Factors and Mechanisms of Formation of Physiological Risks (p. 357 - 365)
The subject of the article is social risks of physiological nature. The problem of social risks lies in the fact that under conditions of rapid global changes and social transformations, issues of managing social risks, especially those of physiological nature, which affect the quality of life of individuals, the population, and society, are becoming more urgent. Physiological risks are characterized by a high probability of losses, efforts of the whole society are directed at overcoming them, and their minimization is possible under conditions of realizing the social responsibility of all members of the society. The aim of the article is to determine the prerequisites for, factors, and mechanisms of emergence of physiological risks. To achieve the aim, the methods of theoretical research, namely theoretical generalization, systems and statistical analysis, are used. The article defines a system of factors based on the classification of their objective and subjective characteristics with the identification of factors that increase the probability of occurrence of these risks. The objective factors include demographic (age, sex) and physiological (genetic disposition, health, congenital anomalies, acquired dysfunctions) ones. Subjective factors include environmental factors (level, conditions, lifestyle, environmental conditions, working conditions, socio-economic characteristics of an individual). It is noted that physiological risks are a problem not only of an individual concerned but of the whole society as well. The society must be directly involved in its solving, because an individual is not always able to overcome his/her physiological problem. And the first stage here is to determine the factors of emergence of physiological risks and mechanisms of their influence on such risks, which will allow to use a fundamental approach to the problem of managing social risks, create an effective system of methods aimed at preventing them, reducing the probability of their emergence, and mitigating negative consequences of their occurrence.
Keywords: social risk, risks of physiological nature, management of social risks, risk management.
Fig.: 2. Tabl.: 3. Bibl.: 22.

Berezina Svitlana B. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Insurance, Banking and Risk Management, Taras Shevchenko National University of Kyiv (60 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: svieta_berezina@ukr.net

Reference to this article:
Berezina, Svitlana B. (2018) “Factors and Mechanisms of Formation of Physiological Risks.” The Problems of Economy 2:357–365.

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Sotsialnaya rabota s razlichnymi gruppami naseleniya [Social work with various groups of the population]. Moscow: KNORUS, 2012.
World Health Organization. Cancer pain relief Geneva: WHO, 1986.
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“Demohrafichna sytuatsiia v Ukraini u 2016 rotsi. Dopovid“ [The demographic situation in Ukraine in 2016. Report]. http://www.ukrstat.gov.ua/druk/publicat/kat_u/publnasel_u.htm
Statystychnyi shchorichnyk Ukrainy za 2016 rik [Statistical Yearbook of Ukraine for 2016]. Kyiv: Derzhavna sluzhba statystyky Ukrainy, 2017.
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Section: Social economy, policy and demography
UDC 330.101:330.8
Kovalyov V. M., Atayeva O. A.
Theoretical Bases of Social and Economic Transformations in Ukraine and the World (p. 366 - 374)
The theoretical bases of the social transformations of mankind, conditioned by the modern social crisis and the emergence of the class structure of the human community in the distant past, are revealed. It is established that despite the existing economic concept of the human “bio — socio — spiritual” essence, as a matter of fact, it is determined by a triune material, spiritual, and social nature, according to the requirements of which, historically justified social changes in the human community take place. It is asserted that the emergence and development of the new social science “human studies”, which connects human knowledge and scientific achievements in all spheres of human activity, will play a decisive role in the system of natural social changes of mankind. The basic principles of the formation and organization of this science and their manifestations are determined. There revealed the economic essence of the notion “sociality”, its place and role in transformation processes as a category not attributed to the human nature of an individual but to society as a whole, with the disappearance of the class nature of which prerequisites for transforming it into a spiritually humanistic dominant of the entire society will arise. Materiality is defined as the primary quality of the world and man, as a manifestation of his physical state, which is supported by the consumption of material resources. It is recognized that the sources of social transformations of mankind in the future are realized through such prerequisites as: the system of objectively operating laws of development of nature and society (the laws of equilibrium, correspondence of production relations to the level of productive forces, human evolution; the basic economic law; laws regulating labor payment); the system of scientific knowledge; objectively operating conditions concerning the possibility of such transformations that are stimulated by global changes in the level and quality of productive forces as a result of the application of new nanotechnologies, robotization, artificial intelligence, holographic measurement of the universe, new types of energy, etc.
Keywords: humanity, materiality, spirituality, social consciousness, sociality, transformation, science, religion, economic system.
Bibl.: 17.

Kovalyov Valeriy M. – Doctor of Sciences (Economics), Professor, Professor, Department of Economics of Enterprises and Management, Educational-Scientific Professional-Pedagogical Institute of the Ukrainian Engineering Pedagogical Academy (Bakhmut) (9a Nosakova Str., Bakhmut, Donetsk region, 84500, Ukraine)
Email: epmuipa@ukr.net
Atayeva Olena A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics of Enterprises and Management, Educational-Scientific Professional-Pedagogical Institute of the Ukrainian Engineering Pedagogical Academy (Bakhmut) (9a Nosakova Str., Bakhmut, Donetsk region, 84500, Ukraine)
Email: ataeva.elena.uipa@gmail.com

Reference to this article:
Kovalyov, Valeriy M., and Atayeva, Olena A. (2018) “Theoretical Bases of Social and Economic Transformations in Ukraine and the World.” The Problems of Economy 2:366–374.

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Section: Economic statistics. Accounting and Auditing
UDC 311.21:[316.32:004.73]
Korepanov O. S.
Statistical Classification of Products in the Sector of Information and Communication Technologies (p. 375 - 381)
The aim of the article is to study the principles of interaction of classifications and groupings in the process of statistical estimation of products of the sector of information and communication technologies. The main statistical classifications of products that function at the present stage at the international (world), multinational (European), and national levels are considered. The general principles on which the determination of ICT products is based are laid out. Changes in the determination and classifications of statistical information related to products of the ICT sector issued by WPIIS and harmonized with European and national classifications with the passage of time are analyzed. There given an example of statistical determination of ICT products according to the classification under the Harmonized Commodity Description and Coding System (HS) – HS 1996, HS 2002, HS 2007, HS 2012, HS 2017 and harmonization with the Central Product Classification – CPC Rev.2 and the Ukrainian Classification of Goods for Foreign Economic Activity – UCGFEA. The determination of the list of products in the ICT sector is realized as a result of generalization of the work carried out by international organizations (OECD, Eurostat, and UN) as well as unification of concepts and harmonization of methodologies at the international level.
Keywords: product classification, information and communication technologies (ICT), harmonized system, product coding, product classifications CPC, CPA, SPC, ISIC.
Fig.: 1. Tabl.: 3. Bibl.: 12.

Korepanov Oleksiy S. – Doctor of Sciences (Economics), Professor, Professor, Department of Statistics, Accounting and Auditing, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: o.s.korepanov@karazin.ua

Reference to this article:
Korepanov, Oleksiy S. (2018) “Statistical Classification of Products in the Sector of Information and Communication Technologies.” The Problems of Economy 2:375–381.

List of references in article

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Section: Economic statistics. Accounting and Auditing
UDC 694.56
Shyshkova N. L.
The Use of Blockchain in Transforming the System of Public Financial Control (p. 382 - 388)
The transformation of the system of public financial control should occur through applying the latest IT technologies and innovative practices of monitoring and analysis. The existing problems of the system of public control and management should be an impetus for the transformation, the use of the most advanced technological achievements. The article discusses the advantages and disadvantages of applying distributed ledger technology (blockchain), the stages and sequence of performing the tasks of its implementation as the basis for effective, transparent, reliable public control. There determined the content of the stages and the sequence of actions to transform the architecture of public financial control on the basis of new technological capabilities that give an impetus to the initialization of regulatory and legal support for using blockchain technology in Ukraine. There proposed a general algorithm for implementing blockchain technology in the system of public financial control, which realization is aimed at clarifying and synchronizing the processes of improving the system of public financial control, IT support for the control system, increasing the safety and transparency of control actions, monitoring and interaction of individual control bodies and tasks. It is proved that the only significant restriction in the implementation of blockchain may be the rules regarding disclosure of personal data and information constituting a commercial secret.
Keywords: IT-technologies, improvement of the public control system, transparency, algorithm, stages of implementation, advantages and disadvantages.
Fig.: 6. Bibl.: 8.

Shyshkova Nataliia L. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Auditing, National Technical University «Dnipro Polytechnic» (19 D. Yavornytskyi Ave., Dnіpro, 49005, Ukraine)
Email: Nlshishkova@gmail.com

Reference to this article:
Shyshkova, Nataliia L. (2018) “The Use of Blockchain in Transforming the System of Public Financial Control.” The Problems of Economy 2:382–388.

List of references in article

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Shyshkova, N. L. “Zasoby pidvyshchennia kerovanosti bezpekoiu oblikovoi informatsii“ [Tools to increase the manageability of security accounting information]. Ekonomichnyi visnyk NHU. 2016. No. 3 (55). P. 119-127. http://ev.nmu.org.ua/index.php/ru/archive
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Section: Economic statistics. Accounting and Auditing
UDC 311(075.8).657.6
Tsal-Tsalko Y. S., Moroz Y. Y.
Information Support for Managing Territorial Communities: the Aspects of Statistics and Financial Reporting (p. 389 - 395)
The state of information support for managing territorial communities as an important resource to obtain the maximum economic, social and ecological effect is investigated. It is established that the use of information resources of statistics and financial reporting by business entities in managing a territorial community is additional opportunities for creating added value in the community, implementing measures for increasing corporate social responsibility and improving the environment. The possibilities of using regional statistics at the level of territorial communities as a new direction in forming information resources to assess social and economic processes are highlighted. The main problem aspects of statistics and financial reporting in the system of territorial accounting as the basis of information resources of a community are determined. The range of issues requiring solutions to ensure information support for managing territorial communities is outlined, in particular those concerning the preparation of statistical reporting and formation of indicators of community development based on the financial reporting of economic entities. It is noted that the development of a territorial community is subject to statistical and financial reporting, and information resources for its assessment can be obtained through reporting indicators of activities of formalized structural elements, such as government, business, social institutions, public organizations, and political parties. Organizational models to form an information base for managing the development of territorial communities are proposed. It is argued that statistics at the level of territorial communities should be an integral part of statistical observations carried out by the State Statistics Service of Ukraine.
Keywords: territorial community, management, statistics, financial reporting.
Tabl.: 1. Bibl.: 8.

Tsal-Tsalko Yuzef S. – Doctor of Sciences (Economics), Professor, Professor, Department of Accounting, Taxation and Audit, Zhytomyr National Agroecological University (7 Staryi Bivd., Zhytomyr, 10008, Ukraine)
Email: morozyy@ukr.net
Moroz Yuliya Yu. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Accounting, Taxation and Audit, Zhytomyr National Agroecological University (7 Staryi Bivd., Zhytomyr, 10008, Ukraine)
Email: morozyy@ukr.net

Reference to this article:
Tsal-Tsalko, Yuzef S., and Moroz, Yuliya Yu. (2018) “Information Support for Managing Territorial Communities: the Aspects of Statistics and Financial Reporting.” The Problems of Economy 2:389–395.

List of references in article

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Section: Economic statistics. Accounting and Auditing
UDC 657.3:658.15:330.45
Yakymova L. P., Matskuliak K. I.
Analytical Support for Managing Settlements with Counterparties in the Context of Ensuring Enterprise Solvency (p. 396 - 402)
The specific features of the formation of analytical support for managing settlements with counterparties, which includes the diagnostic and optimization levels and is aimed at ensuring enterprise solvency, are disclosed, the method that provides support for management decisions being a system of descriptive, normative and optimization models. The diagnostic level of analytical support contains templates to implement standard procedures for analyzing indicators that characterize the process of managing receivables and payables as well as to form diagnostic conclusions and recommended operational management decisions. The verification of the diagnostic block was carried out according to the State Statistics Service of Ukraine. The basis of the optimization level is the economic and mathematical model for optimization of the structure of settlements with counterparties in the context of ensuring enterprise solvency. In the model, solvency is ensured by maximizing the current liquidity ratio and keeping the ratios of quick and absolute liquidity within optimal limits, the remaining constraints are normative models of the diagnostic level. There suggested directions for expanding the basic optimization model as well as the ways to eliminate the incompatibility of the constraint system, which took place when validating analytical support in an enterprise of the processing industry.
Keywords: accounting and analytical support, settlements with counterparties, diagnostics, optimization, liquidity, model.
Fig.: 3. Formulae: 4. Bibl.: 15.

Yakymova Larysa P. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Accounting and Taxation, Yuriy Fedkovych Chernivtsi National University (2 Kotsiubynskyi Str., Chernivtsi, 58012, Ukraine)
Email: larisa.p.yakimova@gmail.com
Matskuliak Kseniia I. – Masters Student, Department of Accounting and Taxation, Yuriy Fedkovych Chernivtsi National University (2 Kotsiubynskyi Str., Chernivtsi, 58012, Ukraine)
Email: kmatskuliak@ukr.net

Reference to this article:
Yakymova, Larysa P., and Matskuliak, Kseniia I. (2018) “Analytical Support for Managing Settlements with Counterparties in the Context of Ensuring Enterprise Solvency.” The Problems of Economy 2:396–402.

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Lakhtionova, L. A. Finansovyi analiz subiektiv hospodariuvannia [Financial analysis of business entities]. Kyiv: KNEU, 2001.
Vasina, N. V. Modelirovaniye finansovogo sostoyaniya selskokhozyaystvennykh organizatsiy pri otsenke ikh kreditosposobnosti [Modeling the financial condition of agricultural organizations in assessing their creditworthiness]. Omsk: Izd-vo NOU VPO OmGA, 2012.

Section: Mathematical methods and models in economy
UDC 330.46
Dilenko V. O., Osipov V. M.
The Mathematical Modeling of Some Mechanisms for Integrating Economic Systems (p. 403 - 409)
The article substantiates the urgency, and outlines the main directions for solving the most important problems of uniting the territorial communities of Ukraine, which is one of the main elements of the decentralization reform implemented in the country. Within the scope of this topic, there formulated the simplest mathematical models of the processes of integrating economic systems, to conduct a theoretical study of possible mechanisms for integrating economic systems for the purpose of their rational choice. The constructed models present a definite development of well-known mathematical models of economic dynamics and optimal economic growth for the case of the functioning of two economic subsystems that have some common mechanism of redistribution of the produced product between them. It should be noted that this mechanism can be set exogenously or determined as a result of solving the corresponding mathematical problem of optimal control. The described economic and mathematical tools make it possible to analyze, at a qualitative level, various scenarios for the development of an economic system at functioning of certain hypothetical mechanisms of its formation. A numerical and analytical study of the constructed models was carried out, which made it possible to identify possible negative moments in the evolution of the systems under consideration that are a consequence of their unification, for example, the unbalanced development of individual subsystems, the relay nature of the optimal mechanism for their unification, a dramatic change in the results of the unification of economic systems with a slight variation in the parameters of their functioning, etc. A promising direction for the development of the results obtained can be elaborating economic and mathematical methods to solve the problem of determining rational mechanisms for combining economic systems for some typical conditions of their functioning.
Keywords: economic systems, integration mechanism, mathematical models, economic and mathematical analysis.
Fig.: 4. Formulae: 19. Bibl.: 9.

Dilenko Viktor O. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Applied Mathematics and Information Technologies, Odesa Polytechnic National University (1 Shevchenko Ave., Odesa, 65044, Ukraine)
Email: v.dilenko@gmail.com
Osipov Vladimir M. – Doctor of Sciences (Economics), Associate Professor, Senior Research Fellow, Department of Interregional Economic Development of the Ukrainian Black Sea Region, Institute of Market Problems and Economic-Ecological Research of NAS of Ukraine (29 Frantsuzkyi Blvd., Odesa, 65044, Ukraine)
Email: osipovugkonver@gmail.com

Reference to this article:
Dilenko, Viktor O., and Osipov, Vladimir M. (2018) “The Mathematical Modeling of Some Mechanisms for Integrating Economic Systems.” The Problems of Economy 2:403–409.

List of references in article

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Dilenko, V. A., and Sabodash, Ye. L. “Matematicheskoye modelirovaniye integratsii ekonomik“ [Mathematical modeling of integration of economies]. Biznes Inform, no. 8 (2014): 78-82.
Kashintsev, N. P., and Mironov, A. V. “Modelirovaniye integratsionnykh protsessov v ekonomike“ [Modeling of integration processes in the economy]. Problemy razvitiya territorii, no. 3 (77) (2015): 42-52.
Kolemayev, V. A. Matematicheskaya ekonomika [Mathematical Economics]. Moscow: YuNITI-DANA, 2002.
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Section: Mathematical methods and models in economy
UDC (477)378.002.6:331.522.001.57
Zhehus O. V.
Modeling the Demand for Educational Products of Higher Education Institutions in Ukraine (p. 410 - 417)
Higher education institutions switch to market methods and management models that provide for the reorientation of their activities to the needs of the market. It is found that the negative consequences of the demographic crisis, deterioration of the socio-economic situation, and changing behavior of consumers in the market for higher education products led to a drop in demand for educational products. Insufficient attention from the management of higher education institutions to changing the situation on the market led to deterioration in indicators and results of their functioning. To adapt to new conditions on the market, universities need to intensify marketing activities, direct efforts to form and stimulate demand. It is noted that the adoption of marketing decisions should be based on data on future trends in the development of the situation on the market. The aim of the article is to justify the flow model for determining the annual potential capacity of the market for higher education products and its medium-term forecasting in Ukraine. Taking into account the specificity of the market for higher education products, a method for designing flows of potential applicants is chosen to predict its capacity. Based on the analysis of the state and trends of the market, there identified flows that contribute to the formation of the demand for products of higher education institutions, and flows that lead to its decrease. Using statistical data and the results of content analysis of secondary information, an optimistic, normal, and pessimistic scenario is developed for changing the annual potential capacity of the market for higher education products. Based on the results of expert estimations, it is determined that the probability of a pessimistic scenario is higher. According to this scenario, in 2018-2020 a decrease in the potential capacity of the market for higher education products is expected, which is associated with the increase in the trends of student immigration, loss of prestige of and confidence in higher education, and the development of alternative forms of obtaining knowledge. Under conditions of a high probability of decreasing the potential capacity of the market for higher education products, higher education institutions need to ensure the conditions and opportunities for organizing and managing marketing activities.
Keywords: institution of higher education, market for products of higher education, potential market capacity, forecasting.
Fig.: 4. Tabl.: 1. Bibl.: 15.

Zhehus Olena V. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Marketing and Commercial Activities, Kharkiv State University of Food Technology and Trade (333 Klochkіvska Str., Kharkіv, 61051, Ukraine)
Email: elena.jegus@gmail.com

Reference to this article:
Zhehus, Olena V. (2018) “Modeling the Demand for Educational Products of Higher Education Institutions in Ukraine.” The Problems of Economy 2:410–417.

List of references in article

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Oharenko, V. M. Derzhavne rehuliuvannia diialnosti vyshchykh navchalnykh zakladiv na rynku osvitnikh posluh [State regulation of activity of higher educational institutions in the market of educational services]. Kyiv: Vyd-vo NADU, 2005.
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Section: Mathematical methods and models in economy
UDC 330.142
Poliakova O. Y., Bulkin S. M.
The Model of Decision Support to Prevent the Transmission of a Financial Crisis to the Real Economy (p. 418 - 425)
The aim of the article is to form an integrated model to forecast, identify a financial crisis and minimize its spread to the real economy. The conceptual scheme reflecting the investigation of the transmission of a financial crisis to the real economy is presented. It is based on the hypothesis that the development of a crisis in the financial sector of the economy precedes a crisis in the real economy, but it is possible to mitigate the consequences of the former and partially manage the crisis in the real economy by influencing the channels of its transmission at different stages of penetration. It is proved that the most appropriate for forming an integrated model of the transmission of a financial crisis is the use of simulation models, since such models allow testing the possibility of preventing the transmission of a financial crisis to the real economy. Building a plan of experiments for the simulation model is based on the Graeco-Latin square methodology, which is due to the effectiveness of this tool in limiting the studied data ranges. In order to evaluate the results of the conducted experiments and choose an effective management model that will correspond to an optimal variant of crisis prevention, Harrington’s desirability function is chosen, which is based on the idea of converting the natural values of private responses into a dimensionless scale of desirability or preference. The function built is the basis for the formed approach to determining optimal and suboptimal solutions for minimizing the transmission of a financial crisis to the real economy. As a result of the study, it was determined that only 20 % of the options (25 decisions) of possible management ones can have a positive result. The formed block of decision support models is an important component of the developed integrated model, which allows modeling the process of the transmission of a financial crisis from the burst of a bubble in the financial sector to the impact on certain parts of the real economy.
Keywords: financial crisis, real economy, simulation model, optimal solution.
Fig.: 4. Tabl.: 5. Formulae: 1. Bibl.: 15.

Poliakova Olha Yu. – Candidate of Sciences (Economics), Associate Professor, Head of, Sector of Macroeconomic Analysis and Forecasting of the Department of Macroeconomic Policy and Regional Development, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: polya_o@ukr.net
Bulkin Stanislav M. – Postgraduate Student, Department of Economic Cybernetics, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkіv, 61166, Ukraine)
Email: bulikstas@gmail.com

Reference to this article:
Poliakova, Olha Yu., and Bulkin, Stanislav M. (2018) “The Model of Decision Support to Prevent the Transmission of a Financial Crisis to the Real Economy.” The Problems of Economy 2:418–425.

List of references in article

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Polyakova, O. Yu., and Bulkin, S. M. “Indikatornaya sistema rasprostraneniya finansovogo krizisa v realnyy sektor ekonomiki“ [Indicative system of distribution of financial crisis in the real sector of the economy]. Modeliuvannia rehionalnoi ekonomiky, no. 24 (2015): 72-84.
Bulkin, S. M. “Udarno-khvylova model poshyrennia finansovoi kryzy“ [Impact-wave model of the spread of the financial crisis]. Prometei, no. 1 (46) (2016): 132-140.
Bulkin, S. M. “Osoblyvosti vymiriuvannia rozryvu bulbashok aktyviv dlia riznykh sektoriv finansovoho sektoru“ [Features of measuring the bursting of asset bubbles for various sectors of the financial sector]. Modeliuvannia rehionalnoi ekonomiky, no. 2 (30) (2017): 128-142.

Section: Mathematical methods and models in economy
UDC 336.77:338.432
Serhiienko O. A., Gula A. S.
Assessing the Effectiveness of the Crediting of the Agro-Industrial Complex, as the Determining Sector of International Trade, by Region (p. 426 - 439)
In the article, to assess the efficiency of the crediting of the agro-industrial complex (AIC), as the determining sector of international trade, by region, a methodological approach to assessing and analyzing the determination of levels of performance and crediting of AIC is proposed. Unlike the existing approaches, the one presented in the article is based on the results of cluster analysis methods and spatial multielement matrices of conformity of the investigated components (by level of performance of the AIC and level of crediting of the AIC), which is the basis for studying the effectiveness of the influence of crediting on its performance by the formed groups of regions with the help of econometric tools as well as for determining the features of the investigated processes in the regions and allows to assess the effectiveness of using credit resources when choosing levers of regulatory influence. The constructed models for assessing economic efficiency of the crediting of agribusinesses enables determining the impact of using credit resources aimed at increasing the effectiveness of their activities, as well as the problems of their crediting in the regional context. The models for assessing the impact of crediting volumes on the level of production and net profit make it possible to predict the effectiveness of raising funds and justify the development of the crediting of agribusinesses in regions of the country. It is proved that the strategic line for the development of the crediting of agricultural enterprises in regions according to the level of agricultural development is the transition from the predominantly basic support for the crediting of agribusinesses to the crediting and financing their specific projects, which will ensure the most effective activity at all management levels based on the determined areas of development of crediting with regard to the level of creditworthiness of agribusinesses.
Keywords: crediting, agro-industrial complex (AIC), cluster analysis, production functions, credit resources, region, isoquants, productivity.
Fig.: 10. Tabl.: 6. Formulae: 1. Bibl.: 14.

Serhiienko Olena A. – Doctor of Sciences (Economics), Professor, Professor, Department of Entrepreneurship, Trade and Logistics, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: Elena.Sergienko@khpi.edu.ua
Gula Alla S. – Candidate of Sciences (Economics), Department of Finance, Banking and Insurance, Kharkiv Educational and Scientific Institute of the SHEI «Banking University» (55 Peremohy Ave., Kharkіv, 61174, Ukraine)
Email: allgulaya@gmail.com

Reference to this article:
Serhiienko, Olena A., and Gula, Alla S. (2018) “Assessing the Effectiveness of the Crediting of the Agro-Industrial Complex, as the Determining Sector of International Trade, by Region.” The Problems of Economy 2:426–439.

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Section: Mathematical methods and models in economy
UDC [338.1:336.531.2]:519.246.85
Shvets S. M.
Public Investment and Growth: the VECM Results for Ukraine (p. 440 - 449)
The article examines public investment impact on the economic growth in Ukraine applying VECM instruments. The aim of the study is to reexamine the influence of public investment on GDP dynamics in Ukraine in the short- and long-run using VAR modeling. There given characteristics of the crowding-in and crowding-out effects of public investment shock for developed and developing economies in the context of typical methods for studying the issue. The empirical review proves that public investment is a significant growth driver in the short-run. The VECM results verified a positive impact of public investment with maximum GDP growth 0.8 percentage points in Ukraine detected at the end of the first year after the shock. There determined a persistent crowding-in effect starting from the second quarter of the carried out impulse response scenario estimation and corresponds to an increase in the private investment to GDP ratio by 0.4 percentage points. Based on the results of modeling the internal public debt shock, there proved the presence of the crowding-out effect, which becomes more noticeable in the first quarter resulting in a sharp decline in the private investment to GDP ratio by -0.5 percentage points. The actual phase of the crowding-out effect lasts during the period of one year and a half. Summing up the empirical results, the governing authority of Ukraine has to take into account crowding-in and crowding-out effects while setting up a pro-investment fiscal policy in the short- and medium-run.
Keywords: economic growth, public investment, crowding-in effect, crowding-out effect, VECM.
Fig.: 5. Tabl.: 3. Formulae: 4. Bibl.: 20.

Shvets Serhii M. – Candidate of Sciences (Economics), Associate Professor, Senior Research Fellow, Department of Modeling and Forecasting of Economic Development, Institute for Economics and Forecasting of NAS of Ukraine (26 Panasa Myrnoho Str., Kyiv, 01011, Ukraine)
Email: smserg@ukr.net

Reference to this article:
Shvets, Serhii M. (2018) “Public Investment and Growth: the VECM Results for Ukraine.” The Problems of Economy 2:440–449.

List of references in article

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Nunez-Serrano, J. A., and Velazquez, F. J. “Is public capital productive?“ Evidence from a meta-analysis, Applied economic perspectives and policy, no. 39(2) (2017): 313-345.

Section: Mathematical methods and models in economy
UDC 004.9+004.75+339.7+336.74+519.6
Shirinyan L. V., Rohanova H. O., Shirinyan A. S.
The Influence of Factors on Bitcoin Value Formation (p. 450 - 458)
The study is based on hypotheses about the influence of factors on bitcoin value formation. The aim of the article is the scientific inquiry and determination of factors affecting bitcoin value with a high level of correlation. The list of factors includes 33 world indicators, among which there are other cryptocurrencies, fiat money, world indices of stock markets, shares of powerful global companies, prices for energy and precious metals. As a result of the study, independent influential factors are selected and a correlation-regression model of bitcoin value is built. The statistical significance of the factors included in the model and the correlation-regression equation that allows simulating bitcoin value is substantiated. Practical approval of the proposed model using the actual data of the identified influence factors is carried out. Prospects for further research in this direction are based on applying trends as to independent factors that markedly affect the value of a bitcoin in order to model its future value. In addition to the factors identified, a significant influence on bitcoin value can be made by supply and demand, bitcoin scalability, interference of government regulatory institutions, the shadow money market, volume and nature of news in the crypto currency market.
Keywords: cryptocurrency, bitcoin value, stock exchange index, share, currency pair, energy price, metal price, correlation-regression analysis.
Tabl.: 11. Formulae: 2. Bibl.: 17.

Shirinyan Lada V. – Doctor of Sciences (Economics), Associate Professor, Head of the Department, Department of Finance, Educational and Scientific Institute of Economics and Management of the National University of Food Technologies (68 Volodymyrska Str., Kyiv, 01601, Ukraine)
Email: ladashirinyan@ukr.net
Rohanova Hanna O. – Candidate of Sciences (Economics), Senior Lecturer, Department of Finance, National University of Food Technology (68 Volodymyrska Str., Kyiv, 1601, Ukraine)
Email: hanna.rohanova@gmail.com
Shirinyan Aram S. – Doctor of Sciences (Physics and Mathematics), Leading Researcher, Scientific Research Problem Laboratory, National University of Food Technology (68 Volodymyrska Str., Kyiv, 1601, Ukraine)
Email: aramshirinyan@ukr.net

Reference to this article:
Shirinyan, Lada V., Rohanova, Hanna O., and Shirinyan, Aram S. (2018) “The Influence of Factors on Bitcoin Value Formation.” The Problems of Economy 2:450–458.

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Section: Economics of Natural Resources and Environment
UDC 338(477):349.6
Zaloznova Y. S., Trushkina N. V., Kocheshkova I. M.
Improvement of Regulatory Support for the Development of Industrial Waste Management in Ukraine (p. 459 - 466)
The aim of the article is to develop proposals for improving regulatory support for the development of industrial waste management with consideration for the best foreign experience. As a result of the research, the shortcomings of the current normative legal documents on the regulation of waste management are analyzed, summarized and identified. It is determined that, first of all, it is necessary to implement the environmental legislation of Ukraine in accordance with the provisions of the Acquis communautaire (the EU legal system, including legislative acts adopted within the European Community, the common foreign and security policy) in the field of waste management. The proposals on the improvement of the legal system of industrial waste management are developed. It is established that the key principle of the national legislation in the field of development of a system for industrial waste management should be its adaptation to the norms of European law. The implementation of a number of European Union waste management requirements (Directive 2008/98 / EC) and waste disposal (Directive 1999/31 / EC) contributes to reducing the negative impact of waste on the environment.
Keywords: industrial waste management, regulatory support, regulation, legal system, implementation, norms of European law.
Tabl.: 4. Bibl.: 21.

Zaloznova Yuliya S. – Doctor of Sciences (Economics), Senior Research Fellow, Deputy Director, Institute of Industrial Economics of NAS of Ukraine (2 Mariia Kapnist Str., Kyiv, 03057, Ukraine)
Email: zaloznova.iep@gmail.com
Trushkina Nataliia V. – Candidate of Sciences (Economics), Candidate on Doctor Degree, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: nata_tru@ukr.net
Kocheshkova Iryna M. – Economist, Department of Problems of Perspective Development of Fuel and Energy Complex, Institute of Industrial Economics of NAS of Ukraine (2 Mariia Kapnist Str., Kyiv, 03057, Ukraine)
Email: kocheshkova@nas.gov.ua

Reference to this article:
Zaloznova, Yuliya S., Trushkina, Nataliia V., and Kocheshkova, Iryna M. (2018) “Improvement of Regulatory Support for the Development of Industrial Waste Management in Ukraine.” The Problems of Economy 2:459–466.

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Kocheshkova, I. M., and Trushkina, N. V. “Legal basis for the development of the management of industrial waste in Ukraine and their implementation to the norms of European legislation“. Eastern European Studies: Economics, Education and Law. Vol. 1. Burgas: Publishing House FLAT Ltd-Burgas, 2018. 260-262.
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Section: Economics of Natural Resources and Environment
UDC 311.631.164.6:574
Kobylynska T. V.
Statistical Estimation of the Influence of Individual Factors on Emissions from Agricultural Enterprises of Zhytomyr region (p. 467 - 474)
The current state of environmental issues in our country, in particular those concerning statistical estimation of the environmental consequences of agricultural activities of enterprises, requires developing and implementing new approaches to statistical estimation of this sector. The aim of the article is to perform statistical estimation and statistical forecast of the influence of individual factors on the volumes of nitrogen oxide (NO) and PM10, PM2.5 by means of the methods of linear regression and chain substitution. Using the performed calculations, the information base of which is the data of a sampling, there carried out statistical forecast by means of the methods of linear regression, chain substitutions. The calculation of the forecast values with the application of linear progression, which is performed based on the algorithm for calculating forecast values with the application of linear regression, is justified. There suggested the statistical forecasting of nitrogen oxide (NO) and PM10, PM2.5 emissions with regard to the influence of various factors using the data obtained as a result of the sampling carried out for Zhytomyr region. The equations are calculated with the application of linear regression and imply constructing such straight lines for which the values lying on them will be as close as possible to the actual ones. The assessment of the quality of the trend equations is carried out using the coefficient of determination and the criteria for evaluating the significance.
Keywords: statistical forecasting, linear regression, emissions of hazardous substances, trend equations, ecological consequences.
Fig.: 10. Formulae: 10. Bibl.: 8.

Kobylynska Tetiana V. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of StatisticsDepartment of Economic Security, Public Management and Administration, Zhytomyr Polytechnic State University (103 Chudnivska Str., Zhytomyr, 10005, Ukraine)
Email: tvstattv@gmail.com

Reference to this article:
Kobylynska, Tetiana V. (2018) “Statistical Estimation of the Influence of Individual Factors on Emissions from Agricultural Enterprises of Zhytomyr region.” The Problems of Economy 2:467–474.

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