scholarly journals TRENDS OF TERRITORIAL ECONOMY’S FINANCIAL AND INVESTMENT POTENTIAL DEVELOPMENT

2021 ◽  
Vol 2 (37) ◽  
pp. 332-342
Author(s):  
M. Lapishko ◽  
I. Tiazhkorob ◽  
Z. Lapishko ◽  
L. Fedevych
Keyword(s):  
Economic Development ◽  
Quantitative Assessment ◽  
General Trend ◽  
Import Substitution ◽  
Jel Classification ◽  
Financial Resources ◽  
Potential Development ◽  
Socio Economic Development ◽  
Systemic Development ◽  
Investment Process

Abstract. In this article the issues of financial capacities mobilization of amalgamated territorial communities for intensification of their investment and innovative activity are considered. It will contribute to the systemic development of the regional (territorial) economy. Ensuring the increase of financial and investment potential of the territorial economy is impossible without a quantitative assessment of its volume and level. To assess the level of the region’s provision with its own financial and investment potential, we used a method of assessing the ratio of net and gross volume of financial and investment potential. Calculations have shown that in 2010—2018 in the economy of Ukraine there was a general trend in increase of number of regions with a free savings deficit, that could have been attracted into the investment process. Based on the results of the analysis, a conclusion is made about the asymmetry of regional economic development. Regions with developed industry faced the least problems with the formation of financial and investment potential. Our suggestions are to develop the entrepreneurial potential in the direction of establishing import substitution in order to increase the territorial community’s own financial resources. The authors’ idea of choosing the industry for the organization of import-substituting productions is tested on the example of Lviv region. This idea is to direct financial and investment resources to those sectors of industry that will have good consumer prospects, in spite the fact that their market share is insignificant due to the imports. As a result, regions (territories) will have the opportunity to produce consumer goods and mobilize domestic resources, and at the same time attract and accumulate external financial and investment resources. We believe that such strategy will ensure the effective socio-economic development of the regional (territorial) economy. Keywords: financial and investment potential, territorial economy, territorial community, import substitution, strategy. JEL Classification O16, R12, R58. Formulas: 0; fig. 2; tabl. 3; bibl.: 11.

CURRENT ISSUES OF INTERBUDGETARY EQUALIZATION

2020 ◽  
Vol 1 (12) ◽  
pp. 74-78
Author(s):  
A. A. BISULTANOVA ◽  
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Federation ◽  
Current System ◽  
Federal Budget ◽  
Financial Resources ◽  
Socio Economic Development ◽  
Interregional Differentiation ◽  
The Russian Federation ◽  
The Stability

The author touched upon topical issues of inter-budget alignment, budget provision of regions with financial resources, focusing on factors that directly affect the stability of the budget system, as well as highlighting problems in the budget sphere that require urgent attention from the authorities. It is concluded that the level of interregional differentiation continues to increase, and the modern mechanism of budget equalization requires urgent amendments and adjustments. It is emphasized that the main goals of socio-economic development of the Russian Federation related to the transition to an innovative type of development, changes in the structure of the national economy, set out in strategic documents and messages of the President of the Russian Federation and declared since 2009, are not being implemented, and the effectiveness of state economic policy and Federal budget expenditures for its implementation remains low. This indicates the need to review the current system.

scholarly journals The activities of the Committee for the implementation of import substitution programs under the Expert Council on tourism development under the Ministry of culture of the Russian Federation, as one of the directions of strategic development of tourism in the Russian Federation

2017 ◽  
pp. 17-19
Author(s):  
A. A. Kuzmenko
Keyword(s):  
Economic Development ◽  
Russian Federation ◽  
Import Substitution ◽  
Tourism Development ◽  
Strategic Development ◽  
The World ◽  
Socio Economic Development ◽  
The Russian Federation ◽  
The Way

Currently, tourism is characterized as relevant and popular phenomenon. Around the world, people travel year-round, and every year according to the WTO the number of tourists increases. It is a recognized fact that integrated tourism development in a particular area leads to its socio-economic development. Currently, Russia has considerable natural-recreational potential, is on the way of development of internal tourism, through specific measures.

scholarly journals Optimization of the Activities of Institutions Promoting Investment in the sustainable Economic Growth of Russia

2021 ◽  
Vol 25 (4) ◽  
pp. 110-120
Author(s):  
E. A. Zvonova ◽  
V. Ya. Pishchik ◽  
P. V. Alekseevc
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
The State ◽  
Russian Economy ◽  
Socio Economic Development ◽  
Development Institutions ◽  
Investment Process

The article examines and assesses the problem of the investment deficit in the Russian economy, which has acquired particular relevance due to the coronavirus crisis caused by the pandemic. The study aims to develop practical recommendations for Russian state bodies to stimulate the investment process in the Russian economy and improve the efficiency of measures taken by the state to ensure the country’s socio-economic development. The objectives of this paper are to analyze the directions of optimization and prioritization of investment of resources during the economic recession caused by the coronavirus crisis using investment lending and project financing instruments, as well as to analyze and assess the ongoing reform of development institutions based on the state corporation “VEB.RF”. The research methodology includes an analysis of the regulatory legal framework, statistical information, official reports of state bodies, development institutions, scientific monographs and publications of Russian scientists, periodicals. The authors analyzed the trends and problems of the investment process in the Russian economy, including in the field of attracting foreign direct investment. Attention is paid to the ongoing reform of development institutions aimed at enhancing the role of the state development corporation “VEB.RF” in stimulating investment. The authors conclude that it is necessary to take a set of functional, instrumental, and institutional measures aimed at stimulating investment and ensuring sustainable socio-economic development of Russia. In particular, in the context of a shortage of domestic sources of financing for long-term investments, it is important to provide regulatory macroeconomic support for the inflow of foreign direct investment into the Russian economy. In this regard, the authors propose to change the monetary policy strategy to increase the stimulating role of refinancing of credit institutions and the projected exchange rate in attracting domestic and foreign long-term investments and ensuring sustainable development of the Russian economy. The authors also propose to increase the role of foreign exchange regulation and foreign exchange control in stimulating investment and ensuring sustainable socio-economic development of Russia.

scholarly journals Critical assessment of Highly Indebted Poor Countries (HIPIC) Initiative in Africa and the Implication of the New Partnership for Africa’s Development (NEPAD) (2001-2016): a theoretical perspective

2016 ◽  
Vol 13 (3) ◽  
pp. 380-386
Author(s):  
Emmanuel Innocents Edoun ◽  
Dikgang Motsepe
Keyword(s):  
Economic Development ◽  
World Bank ◽  
Theoretical Perspective ◽  
Debt Relief ◽  
Jel Classification ◽  
Critical Assessment ◽  
African Countries ◽  
Poor Countries ◽  
Socio Economic Development ◽  
The International Monetary Fund

Many African countries have been struggling to achieve sustainable economics in order to contribute in putting Africa in the path for socio-economic development. This is partly due to the burden of debt that hangs over many African countries that borrowed funds from multilateral partners irresponsibly. As a result of this, the International Monetary Fund (IMF) and the World Bank put in place in 1996 a strategy to provide debt relief to countries that were struggling to repay their debts. This debt relief initiative was reviewed in 1999 to provide adequate results. This paper is, therefore, a critical assessment of HIPIC and the implication of NEPAD from 2001 to date. Keywords: HIPIC, NEPAD, IMF, World Bank, socio-economic development. JEL Classification: H62, H63

ANALYSIS OF THE INVESTMENT SPHERE AND THE DEBT POLICY OF TERRITORIES IN THE CONTEXT OF FINANCING THEIR SOCIO-ECONOMIC DEVELOPMENT

2021 ◽  
Vol 0 (3) ◽  
pp. 22-27
Author(s):  
P.A. IVANOV ◽  
Keyword(s):  
Economic Development ◽  
Federal District ◽  
Financial Resources ◽  
Government Bonds ◽  
Debt Burden ◽  
Fixed Assets ◽  
Socio Economic Development ◽  
The Russian Federation ◽  
The Republic ◽  
Debt Policy

The article is devoted to the analysis of the dynamics of investments in fixed assets, the level of the debt burden of the regions and the debt instruments used by them from the standpoint of identifying the possibilities of the territories for the financial and investment support of their socio-economic development. On the example of the regions of the Volga Federal District (VFD), the existing financial and investment practice of ensuring the socio-economic development of territories in the investment sphere and in the field of debt policy is considered. The analysis made it possible to establish, firstly, the insufficiency of the existing level of investment in fixed assets of the studied regions in terms of the parameters of economic security to ensure sustainable socio-economic development of the territories, and secondly, the relatively high differentiation of the Volga Federal District regions, both in terms of the level of debt burden and by the structure of public debt. On the example of the Republic of Bashkortostan (RB), proposals are made to increase the level of financial and investment support for the socio-economic development of territories based on the use of financial resources of the household sector. The proposals were developed taking into account both the experience of the best practice of other constituent entities of the Russian Federation (RF) in this area (Tomsk Oblast, Yamalo-Nenets Autonomous Okrug, etc.), and trends in domestic debt policy revealed on the basis of analysis of regulatory legal acts on the budget of the Republic of Belarus republics in the form of a shift in priorities in the area of planned borrowing on public debt towards more active use of government bonds. Taking into account the high debt stability of the Republic of Belarus (according to the criteria set forth in the articles of the Budget Code of the Russian Federation) and the rather strong positions of the republic in investment ratings, it is proposed to expand the practice of using the financial resources of the population through the bond market as a promising tool for increasing the financial security of the republic by attracting internal reserves. In order to minimize investment risk for non-professional investors, it was recommended that the Government of the Republic of Belarus issue sub-federal (government) bonds for the population. The advantages of issuing this type of securities from the point of view of obtaining benefits and realizing financial interests of both the state authorities of the Republic of Belarus and the population are described.

scholarly journals The main principles of forming the priorities of the socio-economic development strategy of the country

2021 ◽  
Vol 2021 (3) ◽  
pp. 60-83
Author(s):  
Yurii RADIONOV ◽  
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Financial Resources ◽  
Economic Development Strategy ◽  
Relevance Criteria ◽  
Socio Economic Development ◽  
The Government ◽  
Operational Plan ◽  
Resource Limit ◽  
Positive Effect

The article substantiates the need for the formation and implementation of the socio-economic development strategy of the country as a basis for sustainable and dynamic development. International and domestic experience, formation and approval of the strategy are analyzed. Based on the study and analysis of the situation, the author proposed a mechanism for determining the priorities of the strategy, the application of criteria of relevance and feasibility as a basis for setting priorities. Relevance criteria are divided into critical, important and desirable, where a critical priority is the event that must be carried out at a certain time despite the necessary resources; an important priority is one that has a positive effect on efficiency, but is determined by the resource limit, and a desirable priority is one that can have a positive effect on efficiency, but resources and deadlines depend on their availability after the implementation of other measures. The implementation criterion is divided into political, technical and financial. Political implementation involves the support of the government and the parliament in the adoption of relevant laws, regulations and more. The technical implementation of the strategy is based on the appropriate infrastructure, potential, complexity, timing, as well as the sequence of implementation of certain activities. The financial criterion is based on financial needs, capital and other expenditures, the need to increase efficiency or mobilize additional financial resources. The need to prepare an operational plan, which should be holistic, clear, specific, flexible, clear, controlled, easy to manage and interrelated with the budget, is justified. The operational plan should encourage executors to act without confusion or misinterpretation of what should be done, how and when.

scholarly journals Capital Investment as a Component of State Investment Policy at the Regional Level

2020 ◽  
pp. 176-185
Author(s):  
Svitlana TARABAN
Keyword(s):  
Economic Development ◽  
Financial Stability ◽  
Value Added ◽  
Bank Lending ◽  
The State ◽  
High Tech ◽  
Capital Investments ◽  
Investment Activity ◽  
Socio Economic Development ◽  
Investment Process

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.

scholarly journals FORMATION OF LOCAL BUDGET REVENUES IN THE CONDITIONS OF DECENTRALIZATION OF FINANCIAL RESOURCES

2018 ◽  
pp. 19-27
Author(s):  
Natalia TRUSOVA ◽  
Olena SYZONENKO
Keyword(s):  
Economic Development ◽  
Quality Management ◽  
Financial Resources ◽  
Local Authorities ◽  
Successful Development ◽  
Socio Economic Development ◽  
Local Budget ◽  
Decentralization Reform ◽  
Financial Base

Introduction. Increasing the profitability of local budgets is an important issue on the way to the plundering of territorial communities, because local budgets take the main place in the socio-economic development of the territories. Particular relevance of this issue comes in terms of decentralization reform, which gives new opportunities for increasing thefinancial base of local budgets. Purpose. The purpose of the paper is to identify the peculiarities of the formation of revenues of local budgets of Ukraine in the conditions of decentralization of financial resources. Results. The theoretical questions of formation of the revenue part of local budgets are considered. The structure of the distribution of tax and non-tax revenues between the levels of the budget system of Ukraine, the role of inter-governmental transfers in the system of budget revenues of the combined terri-torial communities are investigated. The influence of decentralization reform on formation of the revenue part of local budgets is determined. Conclusions. The changes that have been made to the budget legislation in the process of decentralization reform have affected the structure of distribu-tion and source of local budgets, and strengthened the financial base of local authorities. However, it is precisely from the efforts of local self-government, the adoption of quality management decisions depends on the rational and effi-cient use of budget funds and the successful development of the community.

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