scholarly journals Risks of environmental opposition to the investment projects implementation

2020 ◽  
Vol 176 ◽  
pp. 05025
Author(s):  
M.B. Vidrevich ◽  
G.Yu. Pakhalchak

Investment activity plays a significant role in achieving the strategic goals of the development of society, and has a significant impact on the state of the environmental and economic system. Recently, quite often, the interests of various groups related to the preservation of the environment come into conflict with the need for economic development, and hence the impossibility of investing in this development. In this case, potential or real investors lose the money invested. The purpose of the research is to consider the features of environmental and social risks of implementing investment projects, to consider the features of social and environmental risks and to show the need to take into account social and environmental risks for the implementation of investment projects, as well as suggest ways to minimize them. It is shown that the effectiveness of the implementation of investment projects and the reduction of possible losses of investors can be achieved by real consideration of social and environmental risks. Some instruments to reduce the risks of implementing investment projects are proposed.

2018 ◽  
Vol 212 ◽  
pp. 08022
Author(s):  
Svetlana Lobova ◽  
Aleksei Bogoviz ◽  
Julia Ragulina

The state of the economic system is characterized by a group of economic indicators that are structural ones, reflecting certain aspects of reproduction, including investment. The purpose of this research is to reveal the level of imbalance in the investment activity by the main types of activity, the adjustment of which will promote effective interaction of economic sectors and economic growth. The level of imbalance is defined as the variance in the deviation of sectoral indicators from the average for the economy, which we consider to be optimal. The analysis allowed making the following conclusions: the greatest structural shift is observed in terms of the share of investments in the active part of fixed assets and long-term financial investments; uneven support is provided from the federal budget to different branches; the investment activity is close in characteristics to the average values for the country and varies up to 8.16% in most industries. The imbalance in investment activity is determined not only by the implementation of the state sectoral programs and by investing priority sectors from the budget, but also by the differences in the conditions for its formation.


Author(s):  
Оlena Golovnya ◽  
Iryna Kinash

The background of the development of the model of economic development of Ukraine in the context of social orientation has been analyzed taking into account the interdependent influence of the mechanism of market relations and economic policy of the state. It is researched that the economic mechanism of socially oriented market economy contains organizational structure of production (vertical and horizontal), specific forms of functioning of economic system (state and non-state regulation of the market), as well as a specific institutional base (including its legislative component). The constituents of the economic system are entities formed by large economic entities (eg financial corporations). The authors argue that the economic mechanism of a socially oriented national economy is a complex structure and system of interconnections and includes: a) a system of balanced markets; b) public sector of economy; c) large economic structures that fulfill the regulatory role of the state for the economy as a whole and at the same time increase the market sensitivity to medium and long-term programs of its development; d) public sector administrative and production subsystem; e) system of operative state regulation of economy; e) a budget-balancing system with a powerful core; g) regulatory framework governing mid-market processes. The study states that Ukraine, in rather difficult conditions, produces the parameters of its own national model of socio-economic development for the long term. The country has not yet formulated or implemented an effective model of economic development that would fully reflect its national characteristics and interests and become a macroeconomic basis for effective state regulation It is determined that in the conditions of construction of a new model of the national economy the role of non-governmental and charitable organizations is increasing. The role of non-governmental organizations, which represent one of the most optimal legal forms to assist citizens in solving their common problems, upholding common interests, is a compulsory attribute of the model of socially oriented national economy.


2021 ◽  
pp. 31-34
Author(s):  
Volodymyr HORYN ◽  
Nataliia KARPYSHYN

Introduction. Given the limited own resources of local self-government, it is important to ensure the effective functioning of the mechanism for providing investment subventions from the state budget. Such investment subventions include subventions for the formation of infrastructure in the united territorial communities and subventions for the implementation of measures of socio-economic development of separate territories. The purpose of the paper is the analysis of the mechanism of providing and using investment subventions to local budgets in order to identify disadvantages and eliminate them. Results. Providing an “infrastructure” subvention to local budgets has strengthened the capacity of united territorial communities and to some extent improved the quality of services provided to the population. During 2016–2019, UAH 6.5 billion was allocated from the State Budget of Ukraine to local budgets for infrastructure development and 9475 projects were implemented. With the help of these subventions, schools, kindergartens, outpatient clinics, cultural and sports institutions, water mains and roads were built and repaired, and specialized transport was purchased. However, in recent years, the role of this subvention has decreased significantly due to the fact that the number of UTCs that received an infrastructure subvention during 2016–2021 has increased significantly, and its volume has hardly changed. The amount of subventions from the state budget to local budgets for the implementation of measures for socio-economic development of certain territories has also decreased, which negatively affects the capacity of local governments in the field of investment projects. Conclusion. The volume of investment subventions remains insufficient, and their distribution is partly in a “manual mode”, which creates a favorable environment for political corruption and lobbying.


2020 ◽  
pp. 176-185
Author(s):  
Svitlana TARABAN

The article examines the processes of inflow of investments into the economy of Ukraine, highlights the main problems and factors affecting investment activity and investment attractiveness of the country and regions. Functions of investments without which effective management and development of the economy of the state are impossible are considered. The peculiarities and tendencies of the investment activity in Ukraine are revealed, the ways to intensification of attraction of capital investments are determined. It has been found that the process of attracting capital investments in the Ukrainian economy has significantly slowed down due to the political and economic crises of recent years. As a result, the financial condition of enterprises has deteriorated, the number of unprofitable financial institutions has increased, the volume of bank lending to enterprises has decreased, the investment activity of foreign investors has decreased. Attention is drawn to the fact that the successful realization of the objectives of the socio-economic development of the regions depends on the efficiency of the organization of the investment process. The revitalization of the investment process is the main component of economic requirements, which are intended to identify real changes in the structure of the economy of the country and the region, to accelerate the transition of the economy to a qualitatively new level of industrial development, to improve the quality of domestic products and its competitiveness in the world market, to contribute to overcoming interregional disproportions, to provide growth in the state. The dynamics and structure of capital investments in Ukraine and Kharkiv region in 2017-2019 are analysed. The structure of capital investments for this period by sources of financing, types of economic activity, types of assets is studied. The conclusions on the materiality of the changes and direction that have occurred during this period have been made, the positive and unfavourable changes in the formation of capital investments have been characterized. It is determined that the socio-economic development of Ukraine is impossible without sufficient financing of capital investments. First of all, it is about modernizing the production of high-tech and competitive high-value-added goods and increasing their exports, as well as the introduction of innovative and energy-saving technologies. It is stated that the conditions for attracting investment in Ukraine are political, economic and financial stability, investment guarantees, improvement of legislative acts regulating investment activity and general improvement of the investment climate. Keywords: investment activity, capital investments, dynamics, structure, economic development, investment processes.


Author(s):  
Kristina Yu. Orlova

The article discusses the directions of innovation and investment development of the strategic, system-forming, enterprises of the Samara Region, which were determined on the basis of an analysis of information about the real situation (20182020) and the planned future (from 2021), obtained as a result of a questionnaire survey of managers about the directions of investment, criteria for making investment decisions, as well as the strategic goals of investment plans. The analysis of investment directions was carried out, on the basis of which the types of investment activity of enterprises were identified as active, proactive and passive. Criteria for making investment decisions are considered, on the basis of which the types of investment behavior of enterprises were divided into leader behavior associated with the economic justification of investment decisions, and follower behavior characterized by an empirical decision rule. The average values of the investment projects characteristics the payback period of investments, the excess of the rate of return over the loan rate, and the discount rate required for making a decision on investment, as well as the volumes of investment projects in different periods are given. On the basis of the investment objectives considered, three types of strategies of system-forming enterprises are formulated: aggressive, moderate and conservative. Based on the analysis of the results of the survey, the features of innovative activity, as well as the directions and prerequisites for the innovative development of the Samara Region strategic enterprises are determined.


Author(s):  
Natalya Yaroshevych ◽  
Andriy Yakymiv ◽  
Olha Chubka

The article investigates the structure and dynamics of capital expenditures and capital investments at the expense of local budgets during 2010-2019. It has been established that since 2015 in Ukraine there has been an increase in capital expenditures of local budgets, both in the total amount of expenditures of local budgets, and in GDP as well. This is due to the growth of the local budgets resource base in connection with the decentralization reform. Also, a positive trend of growth in the percentage of capital expenditures of local budgets is revealed. This fact reflects the budgetary investment intensification at the local level. It was found that the growth of capital expenditures from local budgets occurs in the direction of the growth of capital transfers to enterprises (up to 40% in the total amount of capital expenditures). This may be due to the replenishment of the registered capital of utilities, a significant part of which is formed because of a medical reform. Major maintenance, reconstruction and restoration traditionally remain at a high level in the structure of local budgets capital expenditures. The significance for local budgets and procedures for obtaining various types of financial support for regional development from the state budget is also studied. It has been established that the investment potential of local budgets is formed by their own revenues to the development budget, as well as by funding from the state budget in the form of subventions to local budgets for the formation of the united territorial communities infrastructure (0.3-0.4% in the revenues of local budgets); subventions for the implementation of measures for the certain territories socio-economic development (0.2-1.2%) and financing of investment projects at the expense of the State Fund for Regional Development (0.7-1.03%). It was found that the growth of capital investments from local budgets to a small extent depends on financial support from the state budget. It was also clarified that the use of funds for the regional development financial support at the expense of the state budget does not quite correspond to the goals defined by legal acts. The problems of the efficiency of financing investment projects at the expense of the SFRD funds and subventions of socio-economic development have been identified. Recommendations are given for eliminating the identified problems of the effectiveness of financing investment projects for regional development.


Author(s):  
Natalia PRIAMUKHINA

Modern ecological-economic system of agrarian nature falls under the influence of globalization, which is aggravated by the existing problems of economic activity, suffers from limited resources, and therefore an important condition for ensuring its stability and development is the innovative nature of the reproduction process and effective management of its development. Perspective approaches to the formation of organizational and economic mechanism of nature management at different levels of management of socio-economic development include the development of adaptive regional ecological and economic systems that allow to plan and develop agricultural production taking into account the permissible man-made load, new organizational and economic principles of management of mechanized processes on the basis of modern information technology. The basis of such a methodological approach should be to establish the principles of a process-oriented approach to the management of the ecological-economic system on the basis of modeling of the main and auxiliary processes in the virtual system of agrarian nature management. The peculiarities of ecological and economic systems require the development of special research methods in substantiating the relevant mechanisms of management of agro-industrial sphere. The development of ecological and economic systems of agrarian nature management is determined by the processes occurring in them, the risks and threats to their safety, and the prospects for social and economic development. In order to avoid or at least to prevent threats to ecological and economic security generated by structural imbalances in the economic and social spheres under the conditions of globalization and, as a consequence, result in limited reproduction of natural resources, it is necessary to transfer agrarian natural resources to the principles of sustainable development. Depending on the goals, tasks and problems under consideration, an arsenal of diagnostic methods is selected. The main thing in diagnostics ̶ is to identify the symptoms, factors that characterize the state of the controlled system. It is necessary to determine the vector of environmental priorities for the development of the ecological and economic system, which will allow the grouping of environmental protection measures depending on the damage caused. The perspective direction of development of the agro-system of the regions is the development and implementation of an adaptive-landscape system of land use. The Geographic Information System (GIS) provides systematization, processing, display and dissemination of coordinated data. An illustration of environmental activity can be a technique for the formation of a virtual ecological-economic system, which, in addition to the model of technology selection for the economic bloc, should include a description of the complex processes that take place. One of the promising directions of organizing the ecological and economic mechanism of managing the agrarian process should be the formation of a decision-making model based on knowledge, which is a structured, formal description of the accumulated experience of management of agrarian production and its environmental assessment. The concept of such a model is based on a comparison of the current information model of the ecological environment and the agrarian process, its transformation, with a generalized description of permissible reference situations. Each reference situation reflects the possible permissible conditions that may arise in the process of agrarian nature use in the external environment. These conditions are compared with the current purpose of the enterprise. On the basis of expert interviews, appropriate management measures are taken to ensure the achievement of a comparable environmental and economic goal. The choice of managerial decisions in this case is based on the results of the coincidence or the differences between the comparable models of description of the state of agrarian processes in accordance with the goals set for the current time. A characteristic feature of the concept of the ecological and economic mechanism for managing the process in the agrarian sector is the presence in the control of the knowledge base and the subsystem of automated decision support. When developing a process-oriented management scheme, it is necessary to apply the criteria for selecting program-targeted tools for reducing environmental damage by regional territories. Comprehensive assessment of the ecological and economic system of the region allows management to monitor the compliance of the adopted decisions with the strategic objectives of the region and to identify "pain points" in various areas of activity. The consistent use of these approaches will help to improve the management of ecological and economic systems of agrarian nature management, but puts before researcher’s new pressing problems, which will be devoted to further research.


Author(s):  
Anatolii Sirko

The article considers the main theoretical approaches to assessing the quality of economic growth. More specifically, the paper covers the evolution of the concepts of economic development and quality of economic growth and their meanings. The concept of qualitative growth of economy, which has gained world recognition, is defined and characterized in detail. The nature of economic growth in Ukraine is explained and extensive factors that dominate in the economy are revealed. The research paper highlights the main government’s failures in policy-making for economic development. They are born out of using cheap labour and exporting raw materials. The analysis made it possible for the author to view the government’s initiatives in the economy as policy routines that contradict the theory of qualitative economic growth. The social risks of freezing the current situation are specified and characterized. The results indicate that one of the major obstacles to the qualitative economic growth of Ukraine is the quasi-market, oligarchic-clan economic system which is capable to self- reproduce. Therefore, the proposals on the transition to a model of qualitative growth of the economy are formulated.


2020 ◽  
Vol 16 (7) ◽  
pp. 1317-1334
Author(s):  
S.N. Larin ◽  
E.Yu. Khrustalev

Subject. To grow steadily and successfully, any economy should improve its mechanism for managing the socio-economic development, which should rely upon scientific approaches, methods and mechanisms. Objectives. The study is an attempt to outline the concept for developing the national economic system of innovation through investment engineering. Methods. The study is based on methods of generalization and systems analysis. Results. We propose a new concept for formulating the modern national system of innovation economics, which poses an investment project as the backbone constituent, being performed by diverse entities and organizations. The system raises the probability that comprehensive investment projects will be successfully implemented, including the reliability of mutual settlements for the sake of the ultimate economic effect. Conclusions and Relevance. The investment concept herein opens new opportunities for a new progressive strategy for the national economic development. Based on investment engineering principles, the economic system will carefully protect all types of property, effectively distribute the national property among federal, regional and local entities, and position regional and local budgets as a set of investment projects or the single investment program for the development of regions and country as a whole. The findings help implement new approaches to developing the national economic system of innovation, which will enhance the performance of manufacturing enterprises and public, collective and private entities. It will contribute to the transparency of financial flows in the non-public sector of economy and considerably curb the informal sector of economy.


1977 ◽  
Vol 11 (4) ◽  
pp. 601-613 ◽  
Author(s):  
Seymour Broadbridge

In the past decade or so there have been several critical revisions of the long-accepted view of the important role of the state in Japan's economic development and programme of modernization generally. Professor Harry Oshima has attempted to demolish the argument that the Meiji governments' policies were at all economically beneficial. On the contrary, he has said, those policies retarded growth, particularly through their neglect of agriculture. Professor Hugh Patrick has cautioned us against giving the Meiji governments too much credit for the development of the banking system. Private enterprise, he has insisted, was also important. Most recently, Professor Kozo Yamamura has delivered yet another broadside against what he considers the myths of Japanese economic history. This time he criticizes the view that the government, by intervening and pioneering model plants, played a significant role in Meiji Japan's industrial dcvelopment.


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