scholarly journals Phenomenon of Megaprojects in Multi-Contour Economy Model

2021 ◽  
Vol 12 (4) ◽  
pp. 025-039
Author(s):  
Evgeny V. Balatsky ◽  
◽  
Natalia A. Ekimova ◽  
Keyword(s):  
Regional Development ◽  
Economic Efficiency ◽  
Economic Activity ◽  
Environmental Damage ◽  
Economy Model ◽  
Financial Costs ◽  
Regional Investment ◽  
Comprehensive Information ◽  
Development Institutions ◽  
Investment Multiplier

The article considers the phenomenon of megaprojects as a type of regional development institutions. It shows that megaprojects complement existing regional development corporations and regional investment forums in Russia and other countries. It is demonstrated that megaprojects are a highly controversial phenomenon, characterised not only by huge amounts of investment but also by severe violations of the planned values of time, financial costs, technical and economic results after the commissioning of the facility. In addition, the current environmental damage from megaprojects is both positive and negative, which makes it impossible to account for its impact in the overall scheme of analysis. The article concludes that megaprojects are informationally closed; therefore, it is almost impossible to collect comprehensive information on them. According to the authors, this is due to the desire of megaproject investors to become "invisible" to statistical and supervisory authorities. Otherwise, many projects may become less attractive with the ensuing risks of conservation of regions in a state of low economic activity. Approaches to assess the target efficiency of megaprojects, as well as their indirect economic efficiency, which is based on the use of the investment multiplier methodology, are proposed. Promising directions for further research on megaprojects are outlined.

scholarly journals REGULATION OF ECONOMIC ACTIVITY IN THE REGIONS AS A TOOL FOR INCREASING REGIONAL COMPETITIVENESS AND INVESTMENT ATTRACTIVENESS OF MUNICIPALITIES

2021 ◽  
Vol 20 (Issue Vol 20, No 3 (2021)) ◽  
pp. 482-492
Author(s):  
Nikolay TSONKOV
Keyword(s):  
Regional Development ◽  
State Policy ◽  
Economic Activity ◽  
Regional Economy ◽  
State Intervention ◽  
Business Environment ◽  
Regional Level ◽  
The Other ◽  
Regional Competitiveness ◽  
Regional Investment

Author analyzes scientific experience and literature in the field of assessing regional economy and regional development. In this research, the author tries to explore relation between state intervention and investment attractiveness of regions. The author proposes a new Regional Investment Index, which is an instrument for measuring business environment improvement and increase in investment attractiveness. This new Regional Investment Index is an instrument that can be used not only for analysis of economic indicators, but also for improvement of state policy at the regional level. The author develops Regional investment index in order to manage regional development and direction of investment processes. Regional investment index allows for a potential comparison of municipalities by combining different approaches and dimensions and thus becoming unique. The Russian index differs of the Regional investment index because the group of determinants is structured into two indexes. On the other hand, the Asian indexes are ones which are combined and refined in Regional investment index. The new Regional investment index is sophisticated, more flexible, comprehensive and gives more opportunities for comparison at the level of local authorities and territories.

scholarly journals REGULATION OF ECONOMIC ACTIVITY IN THE REGIONS AS A TOOL FOR INCREASING REGIONAL COMPETITIVENESS AND INVESTMENT ATTRACTIVENESS OF MUNICIPALITIES

2020 ◽  
Vol 19 (Vol 19, No 3 (2020)) ◽  
pp. 482-492
Author(s):  
Nikolay TSONKOV
Keyword(s):  
Regional Development ◽  
State Policy ◽  
Economic Activity ◽  
Regional Economy ◽  
State Intervention ◽  
Business Environment ◽  
Regional Level ◽  
The Other ◽  
Regional Competitiveness ◽  
Regional Investment

Author analyzes scientific experience and literature in the field of assessing regional economy and regional development. In this research, the author tries to explore relation between state intervention and investment attractiveness of regions. The author proposes a new Regional Investment Index, which is an instrument for measuring business environment improvement and increase in investment attractiveness. This new Regional Investment Index is an instrument that can be used not only for analysis of economic indicators, but also for improvement of state policy at the regional level. The author develops Regional investment index in order to manage regional development and direction of investment processes. Regional investment index allows for a potential comparison of municipalities by combining different approaches and dimensions and thus becoming unique. The Russian index differs of the Regional investment index because the group of determinants is structured into two indexes. On the other hand, the Asian indexes are ones which are combined and refined in Regional investment index. The new Regional investment index is sophisticated, more flexible, comprehensive and gives more opportunities for comparison at the level of local authorities and territories.

Sustainability and adaptability of regional development in the conditions of digitalization

2020 ◽  
Vol 19 (9) ◽  
pp. 1550-1613
Author(s):  
O.E. Akimova ◽  
S.K. Volkov ◽  
E.A. Gladkaya ◽  
I.M. Kuzlaeva
Keyword(s):  
Sustainable Development ◽  
Regional Development ◽  
Economic Behavior ◽  
Regional Inequality ◽  
Environmental Damage ◽  
Economic Potential ◽  
Human Welfare ◽  
Long Time ◽  
The Stability ◽  
Smart Technologies

Subject. The article discusses the sustainability of regional economy development, its definition, and the substance of sustainable development. Objectives. We aim at performing a comprehensive analysis of indicators of sustainability and adaptability of regional development in the context of digitalization, formulating a strategy for economic behavior that takes into account the multidimensional nature of regional inequality and is focused on boosting the economic potential of regions. Methods. The study draws on dialectic and systems approaches, general scientific methods of retrospective, situational, economic and statistical, and comparative analysis. Results. The sustainability of the region focuses on improving the human welfare over long time horizon. This happens in three areas, i.e. maximizing the efficiency of resource use; ensuring justice and democracy; minimizing resource consumption and environmental damage. The stability of the region can be assessed by using one parameter, or by combining the parameters in accordance with the type of region and expected results. Conclusions. The adaptation of a region to changing conditions depends on its type (‘adapted’, ‘adaptive’, and ‘non-adapted’). Regional inequality has two main components: difference in economic potential and social satisfaction of residents. Another component, affecting the stability and adaptability of regions, is the level of their digitalization. However, some regions have only formally embarked on the path of digitalization. Moreover, a focus on smart technologies, solutions and digitalization often leads to ignoring the goals of sustainable development. Smart technologies should be aimed at ensuring sustainability within the framework of the smart sustainable city concept.

Reform of the system of development institutions of the Far East: directions and tasks

2020 ◽  
Vol 93 (4) ◽  
pp. 101-108
Author(s):  
I. S. Khvan ◽  
Keyword(s):  
Regional Development ◽  
Russian Federation ◽  
Far East ◽  
Developed Countries ◽  
The State ◽  
Market Failures ◽  
The Far East ◽  
Development Institutions ◽  
State Corporation ◽  
The Russian Federation

Development institutions are an important modern instrument of government regulation of the economy in all developed countries. The system of development institutions of the Russian Federation includes the federal and regional development institutions. Key federal development institutions include such well-known state corporations as the investment fund of the Russian Federation; the State Corporation "Bank for Development and Foreign Economic Activity (Vnesheconombank)"; the state corporation "Russian Corporation of Nanotechnologies," etc. According to experts of the Ministry of Economic Development of the Russian Federation, about 200 regional development institutions operate on the territory of the constituent entities of the Russian Federation. The objectives of this extensive system of development institutions so far have been to overcome the so-called "market failures," which cannot be optimally realized by the market mechanisms, and to promote the sustained economic growth of a country or an individual region. In November 2020, the Government of the Russian Federation announced the reform of the system of development institutions in the country. The article analyzes the goals and main directions of the announced reform. On the example of the system of development institutions of the Far East, an attempt was made to assess its possible consequences.

Profit as a key motive and the resulting indicator of the activity of state corporations

2021 ◽  
pp. 42-49
Author(s):  
M.V. Dubrova
Keyword(s):  
Economic Activity ◽  
The State ◽  
Financial Resources ◽  
Project Financing ◽  
State Development ◽  
Non Profit ◽  
Priority Areas ◽  
The World ◽  
Development Institutions ◽  
State Corporation

Development institutions are becoming the most important tools for regulating economic activity both in Russia and in the world, through the implementation of social projects, the accumulation of financial resources and their direction to the priority areas of state development. The purpose of the study is to study the financial results of state corporations, in particular development institutions, and their role in providing project financing. The proposed article provides an assessment of the profit of the state corporation «Bank for Development and Foreign Economic Activity» (GC «Vnesheconombank»), emphasizes the specifics of the state corporation as a non-profit organization, and provides recommendations for improving the efficiency of the financial activities of the GC «Bank for Development and Foreign Economic Activity».

scholarly journals SUBMISSION OF ADMINISTRATIVE DECISIONS OF USING RECREATION AND TOURIST TERRITORY AND DEVELOPMENT OF ALTERNATIVE ACTIVITY TYPES

2018 ◽  
Vol 20 (3(68)) ◽  
pp. 107-114
Author(s):  
К.O. KOSTETSKA
Keyword(s):  
Natural Resources ◽  
Economic Activity ◽  
Economic Effect ◽  
Developed Countries ◽  
The State ◽  
Environmental Damage ◽  
Main Task ◽  
Control Functions ◽  
Business Entities ◽  
Recreational Resources

Topicality. All relationships in the field of nature use begin with the legislative framework on the protection of nature and its individual components, which defines the functions of the state regulating environmental activities, as well as defined rights and responsibilities of environmental users. In most developed countries, it is a law on nature conservation or environmental acts that establishes the general principles and objectives of a policy designed to ensure the conceptual uniformity and integrity of all legislative practice in the use, protection and restoration of natural resources. System and methods of administrative management in using natural resources are based on: system of legislative acts of the country and the region; a system of normative-directive and methodological (obligatory to use) documents of state bodies; system of plans, programs, projects, tasks; operational management system. Aim and tasks. The purpose of the article is to justify institutional reforms in order to ensure the implementation of environmental legislation, the division of powers of environmental authorities at the national, regional and municipal levels on the procedure for decision-making and its implementation. Research results. The lack of coordination control functions using natural resources, namely the lack of a horizontal connection between the supervisory authorities, leads to the fact that many bodies control the same natural resource. First of all, the uncontrolled tourism activity with the use of recreational resources is observed. Thus, the main task of the state administration should be to assess the quantitative and qualitative equivalents of existing and potential natural resources and determine the strategic directions of their management, their use and protection by business entities and households. In this case, it is necessary to determine with which mechanisms to achieve the optimal use of recreational and tourist resources while minimizing environmental damage, minimizing costs and maximizing the social, economic and environmental effects of their use.Conclusions. Taking into account the economic effect that the country can have, it is expedient to take into account not only the economic potential of the recreational and tourist territory, but also the development of alternative activities on it. Control the enterprises located in this territory and conduct their economic activity with the use or extraction and subsequent resale of the recreational resource. Principal is the redistribution of taxes from economic activity to the restoration of recreational resources at the urban level. It is necessary to provide methodological explanations regarding tax provisions and benefits to enterprises involved in this process, taking into account the status of the territory in which the recreation process has arisen, taking into account the medical characteristics of the territory and the extraction of natural resources in this territory.

scholarly journals Strategic Ways to Modernize the Old Industrial Regions of Ukraine from the Perspective of Sustainable Development

2021 ◽  
pp. 24-40
Author(s):  
V. Liashenko ◽  
◽  
I. Petrova ◽  
Keyword(s):  
Sustainable Development ◽  
Regional Development ◽  
Industrial Development ◽  
Management Decision ◽  
Economic Area ◽  
Development Institutions ◽  
Industrial Regions ◽  
Post Industrial ◽  
Old Industrial Regions

The article defines the sustainable development of the old industrial regions of Ukraine (Slobozhanskiy, Prydniprovskiy, Donetsk Economic Area) using the methodology for determining the criteria and quantifying the processes and stages of their industrial, post-industrial and neo-industrial modernization. In the course of the study, a methodological toolkit was used to assess the level and conditions of industrial, post-industrial and neo-industrial modernization of the economy based on taking into account the quantitative parameters of the ecological, economic and social components of sustainable development. The results of assessing the stages of modernization of the regions of Ukraine in 2005-2019. confirmed the industrial development of Donetsk (Donetsk and Lugansk regions) and Prydniprovskiy (Dnipropetrovsk, Zaporizhzhia and Kirovograd regions) Economic Area. According to the results of the assessment of post-industrial modernization, the Slobozhanskiy Economic Area (Poltava, Sumy and Kharkiv regions) received the highest index. This region is the undisputed leader in terms of indicators reflecting innovation in knowledge and knowledge transfer (the difference is tens of points in comparison with the corresponding indices of other regions). Assessment of the stage of neo-industrial modernization showed the existence of a negative trend that has developed in all economic regions – a steady decrease in funding for innovations in knowledge. As a result, the overall index of knowledge indicator groups showed no signs of growth, and even decreased in some areas. The Slobozhanskiy Economic Area became an optimistic exception. The development and implementation of a methodology for assessing modernization processes will increase the efficiency of management decision-making by state authorities, improve the quality of strategies and targeted comprehensive programs for socio-economic development. To ensure post-industrial and neo-industrial modernization of the economy based on sustainable development in the conditions of insufficient efficiency and effectiveness of the traditional instruments of state policy, it is necessary to form institutions of regional development. Analyzed the current state of the presence of regional development institutions in the areas of activity. It was determined that the institutional structure is heterogeneous, the regions are different in the quality of labor and natural resources, which actually determines the specialization of the regional economy, therefore, for them it is necessary to use differentiated support measures from the development institutions.

scholarly journals OPTIMIZATION OF USE OF MANUFACTURING RESOURCES BY ENTERPRISES OF THE AGRICULTURAL SECTOR

2018 ◽  
pp. 225-234
Author(s):  
Svitlana Nuzhna ◽  
Nataliia Samarets
Keyword(s):  
Mathematical Model ◽  
Economic Efficiency ◽  
Economic Activity ◽  
Agricultural Sector ◽  
Raw Materials ◽  
Mathematical Methods ◽  
Forage Crops ◽  
Resource Potential ◽  
Agricultural Enterprises ◽  
Microsoft Office

The article deals with the main aspects of the stages of development and construction of an optimization of the economic and mathematical model of agricultural enterprises' resources for identifying reserves of resource potential, its rational use and increase of the economic efficiency of economic activity. Some economic indicators of functioning and development of agricultural enterprises that can be taken into account when compiling an optimization model are analysed. The basic stages of construction of the economic and mathematical model and their characteristic features are revealed. Applied testing of mathematical calculations has been carried out for the agricultural enterprise LLC UM-Vatutino, which wants to optimize the structure of its production in order to ensure maximum overall profitability. The developed economic and mathematical model provides the main activities of the UM-Vatutino LLC. They are the cultivation of grain and forage crops, cows of various productivity. Such a model can be used to analyse and identify the reserves of resource potential of enterprises of any form of ownership, at different periods of time, as well as to identify features of strategies for improving the economic efficiency of economic activity of the enterprise itself and its individual units. In addition, the constructed model can be modified both structurally and substantively. The analysis results are processed by means of one of the office programs of Microsoft Office Excel spreadsheets. Data analysis has been performed with the use of the "Solver" tool in spreadsheets. It allows finding an optimization solution with a large number of variables. As a result, it has been confirmed that the application of economic and mathematical methods is very effective in assessing not only the resource potential of agricultural enterprises, but also optimizing the volumes of sales of products, feeds, raw materials for another. The process of modelling in the activities of agricultural enterprises gives the opportunity to make managerial decisions at various stages of the operation and development of the enterprise.

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