scholarly journals FIVE-FOLD SYNERGY AS AN OPTIMAL INNOVATIVE MODEL

2021 ◽  
pp. 25-33
Author(s):  
Julia Yereshko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Multicomponent System ◽  
Modern World ◽  
Economic Systems ◽  
Endogenous Factors ◽  
Economic Agents ◽  
Innovative Model ◽  
The Impact

Introduction. The issue of understanding the patterns and factors of economic growth is reflected in the work of scientists, politicians, historians and publicists from antiquity to the present. The economic system is transforming, at the same time evolving partly randomly, and quantitative changes often precede qualitative ones. Systems of this type are characterized by the bifucarial nature of development, i.e. a change in the qualitative behaviour of such dynamic nonequilibrium systems with a slight alternative to their parameters, bifurcation points (transition or progress) of which are the economic crises, and the equilibrium state is only a certain moment in their movement and development. This nature of evolution is decisive for the whole set of complex multicomponent nonlinear systems, represented by a multiparameter set of dynamic systems of lower order, which include economic ones. However, this typology automatically means a logical problem of finding patterns of their movement and development, given the difficulty of predicting the reaction of this type of system to the impact and change of their parameters. The aim of the article is to substantiate the optimal innovative model of the economy based on the determination of a key factor of economic development. The methodological basis of the research is dialectical analysis, the method of studying the causality of phenomena, determinism in the study of systems, theoretical and logical generalizations and hypotheses. Results. The characterization of economic systems as complex, multicomponent and chaotic, i.e. those that can be deterministic and predictable only in theory, explains the stochastic nature of economic laws and the logical absence of a "universal" recipe for development, which proves the need to find endogenous factors. Based on the assumption of a unified nature of development and unevenness, it is determined that the core of innovative development in the modern world is the intellectualization of economic systems. The factor of unevenness and development, at the same time, in the modern sense, development innovative that is, is the intellectual capital, which produces an innovative flash, which with the appropriate working mechanism becomes the driving force of development. The study of development theories proves the need to endogenize the "Sollow residual", because the assumption of the exogenous nature of scientific and technological development, and hence economic growth, does not explain the root causes of the uneven development of individual economies, and therefore does not explain the key development factor. Naturally, the general trajectory of global development is set exogenously, at the same time, it begins with an endogenous innovation outbreak, which turns into an innovation flow and forms the technological base adopted by the rest of economic systems. The contradiction of the neoclassical paradigm and institutionalism is purely nominal, because the establishment of rules and directives by institutions can be based on "ratio" and convergence of economic agents – institutions, or their synergy can provide recursive directiveness to the system, the economic system as a whole, that is, and "irrational" rules will be organically calibrated as a result of this interaction, at the same time, the presence of rules will give the chaotic multicomponent system some additional determinism. Thus, a five-fold synergy is proposed as an innovative model of economic development, which takes into account the whole set of interactions between economic agents in their joint development and conflict, determining the optimal trajectory of overall sustainable economic growth.

scholarly journals Network model for researching the impact of the increasing of division of labor on innovations and economic growth

2020 ◽  
pp. 60-69
Author(s):  
I.P. Timofeev ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Division Of Labor ◽  
Network Model ◽  
Economic Development And Growth ◽  
Economic Interpretation ◽  
The Impact ◽  
Further Development

The author offers a network model of the economic system designed to research the impact of increasing technological division of labor on the opportunities for economic development and growth. The article describes the main elements of the model and their economic interpretation, as well as the basic rules for its construction. An economic network consists of sets of producers, consumers and goods flows between them. The author shows how the model represents the appearance of various types of innovations. The author has outlined main directions of further development and researching the model.

scholarly journals THE GLOBALIZATION AS AN IMPORTANT FACTOR OF CREATIVE INDUSTRIES DEVELOPMENT

2017 ◽  
Author(s):  
Valerija Kontrimiene ◽  
Borisas Melnikas
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Scientific Knowledge ◽  
Creative Industries ◽  
Modern World ◽  
Creative Industry ◽  
Promising Trend ◽  
Industry Sector ◽  
Development Processes ◽  
The Impact

The article analyses a concept of the sector of creative industries thus highlighting the importance of the sector and showing its role in society and economic development. Particular attention is shifted on the growth of exports and imports of creative industries considering the current challenges of globalization. The paper presents comparative and structural analyses of exports and imports of creative industries reflecting the place of the sector of creative industries in the economy of the modern world, including the tendencies indicating changes in the export and imports of the products created in this sector. The article also reveals the impact of the development of this sector on employment and economic growth in general and demonstrates that research on the development processes of the creative industry sector, particularly in the context of globalization challenges, is a highly promising trend of scientific knowledge and further research.

scholarly journals Effective economic growth under conditions of regional water management dependence

2021 ◽  
pp. 22-43
Author(s):  
Svitlana Fedulova ◽  
Volodymyr Dubnytskyi ◽  
Nataliia Naumenko ◽  
Vitalina Komirna ◽  
Iryna Melnikova ◽  
...  
Keyword(s):  
Water Management ◽  
Economic Growth ◽  
Water Resources ◽  
Water Supply ◽  
Regional Development ◽  
Economic System ◽  
Economic Systems ◽  
The Impact ◽  
Regional Water

Purpose. The purpose of the article is an identifying the impact of regional water management dependence on economic growth in the region. Methodology / approach. The subject of the study is theoretical and methodological basics of a new scientific paradigm for regulation the development of the regional socio-economic systems under the conditions of limited water resources. The study used traditional and special research methods, including: historical and logical – to analyze the evolution of regional socio-economic systems under conditions of limited water resources; abstractions and analogies – to reveal the essence of water-efficient regional socio-economic systems in the modern processes of regionalization and globalization; theoretical generalization, analysis and synthesis – to specify the categorical apparatus; statistical analysis to assess the level of needs of regional socio-economic systems in water resources and create an index of regional water management dependence; method of correlation analysis (biserial correlation, using a point biserial Pearson’s correlation coefficient). Results. The main idea of the paper is to study the issues of development of regional socio-economic systems under the conditions of limited water resources. Considering this, the paper is aimed at studying the impact of regional water management dependence on economic growth in the region. The tasks for development of regional socio-economic systems on the basis of water efficiency are defined, as well as the concept “water-efficient regional socio-economic system” is defined. The study presents a hypothesis about the need to change the paradigm of regulation of regional development on the basis of water use efficiency and regional water management dependence. In order to trade effectively with the main crops, it is necessary to determine whether there are sufficient water supplies in a given country and its regions. For this purpose, the authors proposes to use own indicator, such as the index of regional water management dependence. Thе characteristic of water management dependence is given, from regions where only up to half of the water supply of the territory is used, and to regions where more than 100 % of the water supply of the territory is used. The research has updated that the expansion of knowledge and understanding of the specifics of the water sector can solve significant problems. It is proved that the economic growth of the Ukrainian economy due to the agricultural sector has its limits and is limited by the water management dependence of the territories, ie the limitation of certain territories of the regions of Ukraine in terms of water resources. The next effective economic growth is possible only through the implementation of water-efficient technologies and intensification of water-efficient activities in the region. Originality / scientific novelty. The study for the first time defines the concept of water-efficient regional socio-economic system, so it is a socio-economic system that provides for the restoration of water resources in the region, reducing the water intensity of gross regional product (GRP) and approaching European norms and proposes the classification of regions according to the index of regional water management dependence on the basis of its threshold values. A scientific and methodological approach to assessing the level of needs of regional socio-economic systems in water resources has been improved, based on the application of the index of regional water management dependence, which is proposed to calculate the ratio of total fresh water use in the region to the volume of available river runoff in the region (parts of the water potential). The classification of regional socio-economic systems according to the level of water supply has been improved, which is based on the definition of threshold values of the index of regional water management dependence. The methodological bases for assessing the impact of the spatial economy on regional development under conditions of limited water resources have been improved, which differ in substantiating the dependence of the level of development of regions on the available water potential of the territory. Practical value / implications. The results of the study allow a more comprehensive approach to the study of the problem of using water resources in Ukraine in the context of their limitation. The results of the study showed that the economic complex in most regions is water-intensive and unbalanced, as well as does not provide restoration of water resources by environmental parameters and requires the implementation of infrastructure schemes for redistribution of water resources between regions for economic activity. The results are recommended for consideration by local governments and regional administration for the development and implementation of “Regional programs for the development of water management in the region” and for the development of “Strategies for regional development until 2025–2027”.

Civilization challenges to global economic development

2020 ◽  
pp. 131-142
Author(s):  
Maksym A. Zhyvko ◽  
Andriy R. Zastavnyy ◽  
Oleh V. Ivashchuk
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Developed Countries ◽  
Survey Study ◽  
Main Element ◽  
Modern World ◽  
Negative Consequences ◽  
The World ◽  
The Impact ◽  
Religious Differences

The geospace stratification substantiate and its spatial differences reveal based on the analysis of the economic growth dynamics. The impact of the COVID-19 pandemic on the slowdown in economic growth confirmed and its negative consequences for the investment sphere clarified, because the ability of countries to respond adequately to these processes is different. It has been determined that under the globalization influence, the world acts as a single whole, and the core of developed countries and the periphery is formed as well as local civilizations are transformed. Attention focuses on the research of the values problems that determine the state of society development. The research of the essential characteristics of civilizations carried out and the ideas of the main European civilizational schools characterized. Based on M. Rokeach’s concept, the features that characterize values are determined. It confirmed the values that dominate in society are the main element of culture. The model for measuring the cultural variability of the cross-cultural plane, which was developed by the Dutch psychologist G. Hofstede, is detailed, and the influence of cultural characteristics on the new economy formation is analyzed. The «World Values Survey» study has been assessed. It confirmed that, due to the impossibility of full-fledged self-realization of the individual, migration processes activated and their analysis shows a tendency towards growth. It substantiated that in the modern world the questions about the nature of the socio-cultural integrity of civilizations and civilizational ecumene, associated with religious differences and demographic processes, remain unresolved. An assessment of the demographic situation in the world carried out and its growing dynamics and regional asymmetries clarified. A spatial analysis of the distribution of countries in the global space with dominant religions carried out and the main trends in the world religions development revealed. The role of strengthening the intangible component in the structure of modern economic reproduction argues. It confirmed that the potential of the countries and the world development as a whole takes place in the process of deepening cross-civilization-integration processes. The main civilizational challenges of global economic development are formulated, they are formed under the multi-vector processes in the world, including: spatial asymmetry of countries’ development, universalization of values, socio-cultural differences, ethnic problems, religious differences, demographic and migration processes.

Coherence of Russian Economic System: Econometric Assessments

2015 ◽  
Vol 3 (2) ◽  
pp. 21-23
Author(s):  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Growth Rates ◽  
Economic Systems ◽  
Degree Of Coherence ◽  
Federal Districts ◽  
Economic Growth Rates ◽  
Sustainable Economic Growth ◽  
Correlative Relationship

The paper examines the degree of coherence of the country’s economic system through assessment of correlation between economic growth rates of regions. The author highlights the high changeability of Russia’s economic system, considered as the total sum of elements, constituted by economic systems of federal districts and economic systems of regions. Correlative relationship between economic growth rates of this system’s elements can vary in the range from positive to negative. During the periods of sustainable economic growth the degree of this system’s coherence tends to reduce sharply. High levels of coherence are typical only for crisis periods in economic development.

scholarly journals Fiscal Policy, Factors of Endogenous Growth and Dynamics of Slovenian Exports

2021 ◽  
Vol 32 (1) ◽  
pp. 27-34
Author(s):  
France Krizanic ◽  
Sabina Hodzic ◽  
Borut Vojinovic
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Financial Incentives ◽  
Positive Impact ◽  
Technological Development ◽  
Panel Data Analysis ◽  
Modern World ◽  
Investment Incentives ◽  
Endogenous Factors ◽  
The Impact

In the modern world of rapidly changing technologies, fiscal policy engagement is also needed to promote and adapt to these changes. In order to achieve economic growth, every country needs to ensure an adequate institutional environment and financial incentives for technological development. These investment incentives operate through tax system directly or indirectly. The aim of the paper is to assess the impact of Slovenia's endogenous economic growth factors on exports in the 2009–2016 period. A panel data analysis was applied to obtain empirical results. The analysis showed that a 1% real increase in government subsidies to the economy over three subsequent years increases real investment in research and development by 0.45%, and after a two-year period yields a 0.27% increase in employment of persons with higher education. The latter has a 0.14 % positive impact on the growth of exports after another three-year term. In addition to endogenous factors of economic growth in the Slovenian case, exports are also affected by the dynamics of real world trade, by the dynamics of exchange rates corrected for relative prices, and by the dynamics of wage rates.

scholarly journals Islamic Finance and Economic Development: The Impact of the Islamic Finance Sector on Indonesia’s Economic Development

2021 ◽  
Vol 3 (1) ◽  
pp. 52-63
Author(s):  
Zainur Zainur
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Financial Institutions ◽  
Financial Models ◽  
Islamic Finance ◽  
The Earth ◽  
Islamic Economic ◽  
The Impact ◽  
Modern Era

The re-existence of Islamic economics on the surface of the earth makes a major contribution to the new economic system, with new models and innovations that are applied according to the conditions it goes through without reducing the values that must be implemented in the Islamic economic system. Although it can be understood that this Islamic economic system is not a new thing, but has experienced a new history in the modern era This research aimed to describe the models and applications of sharia-based financial models in the economy, Islamic finance models that are able to promote equitable development, and the impact of the Islamic finance sector on economic development. This was qualitative research with document analysis. The results were financial system in Islam has an impact on economic growth, especially in Indonesia, it can be felt the level of difference between conventional economics and Islamic economics. In addition to the investment factor made by investors, the contract model that is applied bears the risk for both parties, because with a contract like this the level of prudence that must be carried out is more selective compared to other contracts. In addition to Islamic banking, non-bank financial institutions also have a very significant role in increasing economic growth. Among non-bank financial institutions that have an influence on economic growth are zakat, baitul maal wattamwil, waqf and others.

scholarly journals PROBLEMS OF HARMONIZATION OF THE GOALS AND VITAL INTERESTS IN ENSURING SOCIO-ECONOMIC SECURITY

2017 ◽  
Vol 16 (6) ◽  
pp. 526-531 ◽  
Author(s):  
D. N. Shvayba1
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Security ◽  
Economic System ◽  
Hierarchical Structure ◽  
Production Management ◽  
Economic Security ◽  
Human Being ◽  
The Social ◽  
The Impact

Formation of an independent democratic Belarusian state is inextricably linked with transformations in all aspects of public life and, first of all, in economy. Economic reforms in Belarus are directed on creation of socially oriented market economic system, which will ensure the most efficient usage of resources at minimum social cost. In the social economy concepts of “equality” and “poverty” are considered as basic ones. Social security services are based on these concepts and role of the social security in any country is to reduce poverty and increase equality. In modern world poverty is uniquely associated with a low level of economic development and its eradication is the first step on the path to economic growth. As for inequality, such clear connection of this concept with economic development can not be traced. There are various theories explaining the impact of inequality on economic growth. However, they cannot be considered satisfactory because they predict opposite results. Several studies have universally postulated a security as protection of vital interests of a human being, society and State from internal and external threats. Vital interests comprise a set of needs and satisfaction of these needs reliably ensures existence and possibility of progressive development of a human being, society and State which are the main objects of the security. Presence of a hierarchical structure for organization of the system or its subsystems is an essential feature for any socio-economic system. The economy is a poly-hierarchical system. When considering the hierarchical structure of production management it is important to consider one property of the economic system that is incompleteness of information.

Сobb-Douglas Production Function: Myth and Reality

2014 ◽  
Vol 3 (4) ◽  
pp. 54-60
Author(s):  
Юсим ◽  
Vyacheslav Yusim ◽  
Прокопьев ◽  
Aleksandr Prokopev
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Production Function ◽  
Economic Systems ◽  
Technological Factors ◽  
Definition Of ◽  
Impact Of Technology ◽  
The Impact ◽  
Douglas Production Function

The article considers the problem of assessing the impact of technology on the dynamics of economic development and critically evaluates the best-known production function — the Cobb-Douglas function, which is the basis of many models seeking to explain the sources of economic growth. Meanwhile the provision is argued that the methodological solution to this problem exists and reveals the essence of the author’s approaches to the definition of the role of technological factors in the development of economic systems.

scholarly journals Creative Industries in the Context of Globalization: Development Processes and Strategic Solutions

2017 ◽  
Author(s):  
Valerija Kontrimienė ◽  
Borisas Melnikas
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Scientific Knowledge ◽  
Creative Industries ◽  
Modern World ◽  
Creative Industry ◽  
Contemporary Society ◽  
Industry Sector ◽  
Development Processes ◽  
The Impact

The object of this paper is related to the sector of creative industries and its development under conditions of globalization. The article analyses a concept of the creative industries thus emphasizing the importance of the sector in the contemporary society and economic development. Particular attention is shifted on the growth of exports and imports of creative industries considering the current challenges of globalization. The main aim of the research is to mark the role and the place of the sector of creative industries in the economy of the modern world, including the tendencies indicating changes in the export and imports of the products created in this sector. The methods of comparative and structural analyses of exports and imports of creative industries have been applied for the research presented in this paper. The research also reveals the impact of the development of the sector of creative industries on employment and economic growth in general, reflecting a need for elaboration of specific strategic solutions in the field of creative industries. The interferences presented in this paper prove that research on the development processes of the creative industry sector, particularly in the context of globalization challenges, is a highly promising trend of scientific knowledge and further research.

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