scholarly journals Economic activity vs generation of local budgets’ revenues: Regional disparities in COVID-19 instability

2021 ◽  
Vol 10 (1) ◽  
pp. 94-105
Author(s):  
Iryna Storonyanska ◽  
Mariana Melnyk ◽  
Lilia Benovska ◽  
Natalia Sytnyk ◽  
Oksana Zakhidna
Keyword(s):  
Economic Activity ◽  
Public Investment ◽  
Delayed Effects ◽  
The Public ◽  
Local Finance ◽  
Tax Revenues ◽  
Consumer Expenditures ◽  
The Impact ◽  
Domestic Economies ◽  
Local Levels

In the last two years, Ukraine and the world have been living in economic instability caused by the COVID-19 pandemic, which has fundamentally changed the trends in global and domestic economies, public and local finance. This study aims to estimate the trends of economic development of Ukrainian regions in the coronavirus crisis and their impact on the local budgets’ tax revenues generation. Main findings show the impact of the COVID-19 crisis on the development of Ukrainian regions is territorially differentiated. It is determined that in quarantine restrictions, the regions were developing under the impact of behavioral and institutional factors. Although a range of enterprises terminated their activities and there was a decline in income from business activities in 2020, the tax revenues of local budgets increased. The growth of tax revenues was accompanied by decreasing interbudgetary transfers and growing expenditures on containing the spread of pandemics and supporting healthcare. Reduced transfers to local budgets from the public budget affected the funding of investment programs of regional development. The abovementioned effects of falling business activity and consumer expenditures of the population along with falling investment can be considered the delayed effects of economic activity curtailment in the short-term period. An intensive increase of public investment that stipulates projects co-funding from budget funds and resources of businesses and establishment of cooperation between public, regional, and local levels of government should become among the primary steps to overcome the negative trends.

Evaluation of the impact of public investment programs on social and economic performance of territories

2019 ◽  
pp. 109-123
Author(s):  
I. E. Limonov ◽  
M. V. Nesena
Keyword(s):  
Bayesian Modeling ◽  
Positive Impact ◽  
Public Investment ◽  
Difference In Differences ◽  
The Public ◽  
Export Activity ◽  
Regional Investment ◽  
The Difference ◽  
The Impact ◽  
Development Institution

The purpose of this study is to evaluate the impact of public investment programs on the socio-economic development of territories. As a case, the federal target programs for the development of regions and investment programs of the financial development institution — Vnesheconombank, designed to solve the problems of regional development are considered. The impact of the public interventions were evaluated by the “difference in differences” method using Bayesian modeling. The results of the evaluation suggest the positive impact of federal target programs on the total factor productivity of regions and on innovation; and that regional investment programs of Vnesheconombank are improving the export activity. All of the investments considered are likely to have contributed to the reduction of unemployment, but their implementation has been accompanied by an increase in social inequality.

scholarly journals The Risk of Long-Term Financing of Public Investments

2019 ◽  
Vol 2 (2) ◽  
pp. 42
Author(s):  
Krzysztof Jarosiński ◽  
Benedykt Opałka
Keyword(s):  
Public Debt ◽  
Negative Impact ◽  
Capital Expenditure ◽  
Public Investment ◽  
Point Of View ◽  
Risk Category ◽  
Investment Projects ◽  
The Public ◽  
Public Investments ◽  
The Impact

The risk of financing of public investments is a phenomenon that accompanies development processes in a permanent manner. Investments in the public sector are generally characterized by relatively long implementation cycles and involve significant capital expenditure and the necessity of often parallel running a large number of investment projects. In the processes of this type of investment a specific risk category of financing of this type of investment is quite often taken into account, given that such projects are financed mainly from budgetary resources: the state budget and self-government budgets. Economic practice indicates an importance of the proper selection of the method of the financing of new investments and taking into account new funds from various sources. This situation is often the result of a shortage of budgetary resources from which public investments could be financed. There may be difficulties in financing investments resulting from the emergence of a risk of budgetary deficit and the public debt. This risk may have a negative impact on investment decisions and may adversely affect the future course of ongoing investment projects. The purpose of the paper is to undertake studies on the conditions of financing investments from the point of view of the possibility of budget deficit and public debt and the impact of changes in the financial situation on the overall level of risk of public investment. The text is an invitation to undertake a broader discussion on financing public investments in conditions of limited public financial resources.

scholarly journals Calculation of Impact of Construction Investment to the Public Infrastructure

2017 ◽  
Vol 17 (1) ◽  
pp. 31-36
Author(s):  
Martin Ferko ◽  
Jan Česelský ◽  
Zbyněk Proske
Keyword(s):  
Decision Making ◽  
Computational Model ◽  
Public Administration ◽  
Public Investment ◽  
Land Development ◽  
Public Infrastructure ◽  
The Public ◽  
New Construction ◽  
Community Facilities ◽  
The Impact

Abstract The paper shortly introduces and describes a computational model that illustrates the impact of land development construction investment in the form of creating new needs for public infrastructure and community facilities in the territory. New construction investment may also initiate other construction investment, which also increases the demands on ensuring the capacity of public infrastructure. For public administration (local and regional), the created model can facilitate preparation, decision-making and management of public investment in the territory while respecting the 3E principle.

scholarly journals The impact of economic crises on the Russian cheese market

2020 ◽  
Vol 175 ◽  
pp. 13045
Author(s):  
Vladimir Plotnikov ◽  
Iuliia Ugarova ◽  
Evgeniia Ugarova
Keyword(s):  
Economic Activity ◽  
Industrial Complex ◽  
Dynamic Features ◽  
Economic Crises ◽  
The Public ◽  
Population Decrease ◽  
Food Market ◽  
Object Of Study ◽  
The Impact ◽  
Stimulation Of

The market economy is developing cyclically. Periodically, crises arise in it. During the crisis, GDP decreases, unemployment increases, incomes of the population decrease, etc. The consequences of crises for different areas of economic activity are different. The purpose of the article is to study the impact of economic crises on the agro-industrial complex and national food market. The object of study is the Russian cheese market. The article analyses the impact of the crises of 1998, 2008, 2014 and 2020 in Russia on the national agribusiness and cheese market. The authors analysed the economic indicators of production and sale of cheese, revealed the structural and dynamic features of this market. According to the results of the study, causal relationships were found for changes in the Russian cheese market under the influence of economic crises. These results can be used to improve the public policy of regulating the national economy, ensuring food security, stimulation of agro-industrial complex and regulating the Russian cheesemarket.

scholarly journals The Investment Attractiveness of Economic Activities in the Regions of Ukraine

2021 ◽  
Vol 5 (520) ◽  
pp. 169-174
Author(s):  
O. V. Nechyporuk ◽  
Keyword(s):  
Regression Analysis ◽  
Economic Activity ◽  
Public Investment ◽  
Analysis Data ◽  
The State ◽  
Economic Activities ◽  
State Budget ◽  
Correlation And Regression Analysis ◽  
Methodical Approach ◽  
The Impact

The article is aimed at studying the investment attractiveness of types of economic activity in the regions of Ukraine, determining the impact of factor values (of types of economic activity) on the volume of products sold. As a result of the study, a methodical approach to the analysis and determination of investment attractiveness of types of economic activity in the regions of Ukraine is developed; the influence of factor values (of types of economic activity) on the volume of products sold is determined, the main ones are distinguished by means of correlation analysis and the significance of the selected factors of influence is checked using regression analysis. For the analysis, data was formed on the basis of official data of the State Statistics Service of Ukraine and the Ministry of Economy of Ukraine. To obtain more accurate summary results, the data was normalized in order to convert the values of signs in the input vector to a certain specified range. After the normalization, summary data for correlation and regression analysis were computed. On the basis of the carried out analysis, the economic-mathematical models of influence of investment instruments of the State budget on types of economic activity and a model of influence of investment instruments of foreign direct investment on types of economic activity in the regions of Ukraine were built. The investment attractiveness of certain regions for public investment and for foreign investments is substantiated. Prospects for further research in this direction are the analysis of the impact of other factors on the investment attractiveness of a particular region and Ukraine in general.

Corporate social responsibility and financial performance nexus

2018 ◽  
Vol 9 (3) ◽  
pp. 301-328 ◽  
Author(s):  
Joseph Dery Nyeadi ◽  
Muazu Ibrahim ◽  
Yakubu Awudu Sare
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Positive Impact ◽  
Public Investment ◽  
Data Set ◽  
Content Type ◽  
The Public ◽  
Firm Financial Performance ◽  
Corporate Social ◽  
The Impact

Purpose The paper aims to investigate empirically the impact of corporate social responsibility (CSR) on financial performance in South African listed firms. Design/methodology/approach The paper uses panel corrected standard errors to estimate the effect of CSR on firm financial performance and thus addresses contemporaneous cross-correlations across the panel cross sections. The study uses a broad base measure of CSR created by the Public Investment Corporation data set and the combination of accounting and economic means of measuring firm financial performance. Findings CSR is found to have a strong positive impact on firm financial performance in South Africa. When CSR is decomposed further into its major components, governance performance positively impacts a firm’s financial performance with no evidence of any relationship between social components and firm performance and between environmental components and firm performance. The positive impact of CSR on firm performance is greater in big firms. At the industry level, CSR is noticed to impact positively on financial performance in the extractive industry via good governance and responsible environmental behaviors. It however has no impact on firm performance in the financial sector. Research limitations/implications The results should be interpreted with caution and some limitations. Due to the limiting nature of the Public Investment Corporation data set (the survey was carried out on selected firms on the Johannesburg Stock Exchange for three years spanning from 2011 to 2013). This resulted in a sample of 56 firms. It is therefore very problematic to generalize the findings to a larger population over a long period of time. This is more limiting especially on individual sector studies where the sample has further shrunk to a smaller sample. As a result of the smaller sample size, the authors were unable to explore some other sectors which could have given more revealing findings. The authors recommend that future research should explore other data sets or use primary data approach that can allow for more sample size and elongated time period for a more holistic view and for easy generalization of the findings. The authors also identify an important lacuna necessitating further research effort. It would be interesting to empirically examine the threshold point of firms’ size beyond which CSR damages firms’ performance. Knowledge of this will guide managers of firms in their strategic CSR decision. Practical implications This study does not only serve as a reference work for subsequent investigations into the impact of CSR on firm performance in sub-Saharan Africa but also serves as a guide to policymakers on the financial impact of CSR adoption. Originality/value This study is one of the pioneering works that comprehensively examines the effect of CSR on financial performance amongst South African firms via size and sector and also controls for contemporaneous cross-correlation effects from the firms in the panel set.

Spatial Public Goods. 1: Theory

1987 ◽  
Vol 19 (3) ◽  
pp. 331-352 ◽  
Author(s):  
Y Y Papageorgiou
Keyword(s):  
Public Goods ◽  
Public Investment ◽  
Spatial Context ◽  
Private Goods ◽  
The Public ◽  
Land Rents ◽  
Absentee Landowners ◽  
New Feature ◽  
The Impact ◽  
Explicit Comparison

This is the first of a two-part series of papers dealing with public goods in a spatial context. Public goods here are treated as being intentional spatial externalities. In that context, the new feature to be dealt with is optimal public investment, the impact of which diffuses, somehow, over space. First, the landscape, the spatial structure of the public good, and the decision framework are described both for the individuals involved and for the planner. Then, the issue of decentralisation is discussed in the case where land rents go to absentee landowners. An explicit comparison between private goods, public goods, and externalities in a spatial context follows, and the first part ends with the problem of allocating land to public goods. The second part deals with some conceptual applications.

The role of institutional conditions and economic activity of the population in the socio-economic dynamics of the federal districts

2020 ◽  
Vol 18 (12) ◽  
pp. 2297-2318
Author(s):  
D.V. Maslova
Keyword(s):  
Economic Activity ◽  
Institutional Environment ◽  
Well Being ◽  
Business Activity ◽  
Economic Dynamics ◽  
The Public ◽  
Institutional Conditions ◽  
Federal Districts ◽  
The Impact

Subject. This article deals with the issues related to the economic efficiency and well-being of the population. Objectives. The article aims to analyze the impact of the economic activity of people in the existing institutional environment on the socio-economic development of megaregions. Methods. The article uses indices that determine the public business activity and the effectiveness of the State's economic policy. Results. The article presents an original methodology for assessing the socio-economic dynamics of federal districts between 2004 and 2018. The article points out the decline in business activity of the population and the increasing dependence of welfare on social assistance by the State. Conclusions. The article concludes that it is necessary to adjust the public policy to encourage the business activity of people.

scholarly journals The public-private investment nexus in India: Evidence from a policy simulation approach

2020 ◽  
Vol 65 (224) ◽  
pp. 101-128
Author(s):  
Sajad Bhat ◽  
Javed Bhat ◽  
Taufeeq Ajaz
Keyword(s):  
Service Sector ◽  
Public Investment ◽  
Private Investment ◽  
The Public ◽  
Modelling Framework ◽  
Complementary Effect ◽  
Deficit Financing ◽  
Generalised Method Of Moments ◽  
The Impact ◽  
Simulation Exercises

This study investigates the influence of public investment on private investment in India, at both the aggregate and Sectoral levels and under two different modes of deficit financing - monetisation and commercial borrowing - in an eclectic macroeconometric modelling framework. Using Generalised Method of Moments (GMM), the two simulation exercises conducted in the study highlight the crowdingin effect of public investment on aggregate private investment, irrespective of the mode of financing. The favourable accelerator effect and the complementary effect are found to outweigh the deleterious interest effect in both simulation exercises. At the Sectoral level, public investment is found to most strongly and positively affect private investment in manufacturing, followed by agriculture, the service sector, and finally infrastructure. The impact of public investment on the other sectors included in the model accords well with theoretical expectations.

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