ЕФЕКТИВНІСТЬ ІНВЕСТИЦІЙНОЇ ДІЯЛЬНОСТІ В УКРАЇНІ

This article seeks to assess the effectiveness of attracting foreign investment in Ukraine. Within the scope of the research, investment activity is considered a key driver for economic development. It is emphasised that boosting economic growth in Ukraine depends heavily on attracting foreign investment as their effects extend to encouraging the national output, the speed of its technological advancements as well as the scale and pace of economic restructuring. The purpose and objectives of the study are to explore and evaluate the effectiveness of foreign investment in Ukraine's economy along with offering the authors’ understanding of the key factors affecting the investment climate and suggesting the most promising pathways to foster investment efficiency in Ukraine. It is argued that this study has a number of significant implications to Ukraine, since investment processes to a great extent underpin market development strategies, and entail the most important mechanisms for creating appropriate environment to overcome the structural economic crisis, implement structural changes in the production sector, promote innovation and enhance economic performance at the micro- and macrolevels. The research methodology involves general scientific methods of analysis and synthesis, and the generalization techniques. The findings reveal a whole range of crucial factors behind the investment process crisis and lack of effective tools for investing into the national economic development. The authors assert that a country's position in the investment ranking is a sort of a ‘business card’ for the investor who is looking for new capital investment opportunities. Currently, from this perspective, Ukraine's chances to attract foreign investment seem quite miserable. However, the findings verify that in the context of modern globalization, to spur foreign capital attraction into Ukraine, creating a favourable investment climate is paramount. The study has identified factors that affect the process of shaping the investment climate, among which the most important are a group of economic, political and geographical factors. According to the research results, a proactive government strategy and a comprehensive approach to resolving the current challenges related to investment activities at the micro- and macrolevels will contribute to realizing Ukraine’s investment potential with maximum efficiency that will lay a solid background for sustainable economic development in the future.

How to Evaluate the Green and High-Quality Development Path? An FsQCA Approach on the China Pilot Free Trade Zone

In today’s world, green development has become an important trend, and many countries regard the development of green industry as an important measure to promote economic restructuring. Green development is consistent with sustainable development in ideology. China’s economy is in the stage of high-quality development. As an important foundation for China’s external economic development, the free trade zone can play a good role in promoting its green and high-quality development. Based on the data of 18 free trade zones in China in 2020, this paper explores the green and high-quality development path of the China Pilot Free Trade Zone. Firstly, the green development index is constructed according to the existing research and experience, and then the fuzzy set qualitative comparative analysis method is used to evaluate the green and high-quality development path. The results show that the development of pilot free trade zones is not the result of a single condition but the result of a combination of green policy effectiveness, foreign investment participation, green production growth rate, and other conditions. Combined with the green and high-quality development path, this paper further provides enlightenment for the development of the China Pilot Free Trade Zone.

Measuring Energy Efficiency Performance in China: Does Technological and Environmental Concerns Matter for Energy Efficiency?

Considering the significance of green governance in economic restructuring and the green technology revolution, this study examines the impact of China’s recent green governance policies and their implications in various regions; it also examines new models, methods, and development directions for China’s green governance in the future. Green governance efficiency and spatial patterns have been studied through 2008–2018 data using a three-stage generalized panel Data Envelopment Analysis (DEA) model, spatial autocorrelation model, spatial gravity model, and social network analysis. The study summarizes the status and role of each provincial region in green governance based on the social network of green governance efficiency under the network architecture. It concludes that (1) green governance efficiency in China’s provinces has a U-shaped trend, with non-managerial elements in the external environment masking genuine green governance efficiency. (2) During the study period, the overall efficiency of the industrial system improved. The efficiency of the manufacturing and wastewater stages has been substantially enhanced, but no significant gains were observed in the treatment stages of solid and gas waste. (3) Although China has made progress in enhancing the overall efficiency of its industrial system, there is still potential for improvement. (4) China has established a “three horizontal and two vertical grid-type” green governance spatial correlation structure among the sub-stages of the industrial system, and the radiation impact of major provincial areas would increase overall green governance efficiency.

Evaluation of Employee’s Organizational Commitment: The Case of Construction Enterprises

Construction enterprises play an important role in the process of socio-economic development. They contribute to GDP growth and macroeconomic stability, create obs and incomes for workers, promote rural economic restructuring. Human resources in the construction enterprises in Hanoi all have a high level of education, an understanding of high socio-economic knowledge and a certain level of training can have a positive effect on the performance of construction enterprises. This research was conducted to measure the employees’ organizational commitment in construction enterprises in Hanoi. Data were collected through a survey with 150 office workers and technical personels of construction enterprises in Hanoi. With this data, we have used descriptive statistics, Cronbach's Alpha analysis to identify and measure twelve (12) attributes of employees’ organizational commitment in Hanoi. The results showed that employees’ organizational commitment is highly appreciated by respondents. Based on the findings, some recommendations are given to improve employees’ organizational commitment in the construction enterprises in Hanoi.

Relationship Between Human Capital and Technological Innovation Growth of Regional Economy and Psychology of New Entrepreneurs in Northeast China

The economic restructuring and rapid rise of the economy in Northeast China have resulted in a proliferation of new ventures. Studying the psychology of new entrepreneurs is conducive to understanding the relationship between human capital and economic growth. The work reported here aims to explore the impact of human capital on economic growth in Northeast China and the influencing factors of psychological capital of new entrepreneurs in the entrepreneurial process. Based on Cobb–Douglas production function, the relationship between labor, physical capital, or human capital and economic growth in Northeast China is analyzed by econometric methods, and a model of human capital and economic growth in Northeast China is constructed. Besides, a psychological capital intervention (PCI) model is proposed to develop the psychological capital of new entrepreneurs, and the psychological quality structure model of entrepreneurial entrepreneurs and its operation mechanism. The results of the empirical analysis demonstrate that the elasticity coefficient of human capital in Northeast China is 0.15902, five times smaller than that of labor and physical capital. Moreover, 70% of new ventures are willing to accept higher education. The fitting degree of using the PCI model to develop the psychological capital of new ventures is only 0.3%. In addition, the modified external environment PCI instead of the external environment PCI model has a huge operating potential in the macro-entrepreneurial environment. In conclusion, the impact of human capital on economic growth in the northeast is smaller than the impact of labor and material capital investment on regional economic growth. The development of human capital and research on the composition and mechanism of psychological quality of entrepreneurial entrepreneurs are of significant theoretical and practical values to promote the economic growth in the northeast.

Some Thoughts on Building a Green and Low-Carbon Circular Economy System—Taking Shenzhen as an Example

The report of the 19th National People’s Congress of China proposed to implement the new development concept, promote green development, and establish a sound economic system for green and low-carbon circular development. As one of the most active coastal cities in China’s economic development, Shenzhen regards the development of green industries as an important measure to promote economic restructuring, emphasizes green innovation in science and technology, and has achieved certain results in green development. However, Shenzhen’s green development also faces problems such as lack of systematic and coordinated development strategies and institutional obstacles. Focusing on the strategic goal of “creating a pilot demonstration zone of socialism with Chinese characteristics”, the author discussed the governance path of Shenzhen’s construction of a green and low-carbon circular economic system from the perspective of effective governance, and formed a scientific decision-making mechanism, sound laws and regulations, and Countermeasures and suggestions in several aspects, such as the standard system, perfecting economic policies, and promoting the deep integration of science and technology policies and technological innovation.

From command to market-driven economy: the changing role of manufacturing industries in Romania

In 1990, Romania and other CEE countries embarked on a political shift that prompted radical structural and spatial changes in economic activities. Industrial restructuring holds a central role in strengthening both EU convergence and internal socioeconomic divergence. The aim of this paper is to discuss the contribution of manufacturing to national wealth creation, the attractiveness of industries to foreign direct investments, and the evolutionary trajectories of manufacturing employment and firms in conjunction with the pathways taken at the level of the national economy. To attain this aim, we analyse in detail the period between 2002 and 2019, looking at the temporal dynamics of the industry in times of growth and crisis. The changes discussed are typical of economic restructuring, with regions and urban centres experiencing a dramatic change in their economic roles and functions and increasing inequalities between metropolitan and non-core regions.

Tourism distribution in a transitional economy: Hotel ownership and distribution channels in Vietnam

<p>This thesis investigates how the different up-market hotel ownership modes establish distribution channels to reach domestic and international tourism markets in the context of Vietnam’s transitional economy, which has been transforming from a centrally planned to a socialist market oriented economy since 1986. It seeks to understand the current distribution channel structures of various hotel ownership modes; to explore the ways in which a number of factors influence distribution structures; and to examine the implications of these structures and factors for hotel and tourism development in Vietnam and in other economies with similar socio-political characteristics. A conceptual framework for hotel distribution channels is developed from a combination of the predominantly Western literature and the fragmented literature on hotel distribution in transition economies. The conceptual framework enables the researcher to investigate the linkages and relationships among the components that constitute the current Vietnamese hotel distribution systems. A qualitative approach is applied to address the supply-side issues of hotel distribution with data collected in the three largest urban cities located in the Northern, Central and Southern parts of Vietnam. The data collection methods were in-depth semi-structured interviews and document compilation. Different groups of participants from the Vietnam tourism industry including senior staff of sales and marketing of the four- and five-star hotels, international tour operators, high-ranking government officials of central and provincial authorities of tourism, key officers of trade organisations and academics from these cities were interviewed. The research presents the current distribution channel structures employed by four hotel ownership modes to reach domestic and international travellers. The findings also reveal that international joint venture and wholly foreign-owned hotels have effectively established their distribution channels to reach the international market. The entry of these international ownership modes as a result of Vietnam’s economic reform has forced state- and domestic privately-owned hotels to also build market-driven distribution structures. Economic restructuring in the context of Vietnam’s international integration has been the key element in creating the legal system, economic development, international tourist demand, technological advances, patterns of demand, hotel ownership and management modes that have driven the development of distribution. The research concludes that different hotel ownership and management modes and the distribution channel structures of up-market hotels are the products of Vietnam’s economic restructuring. The research suggests further economic renovation to meet the country’s commitments to international organisations, and to generate an equal tourism and hotel business environment in Vietnam.</p>

Tourism distribution in a transitional economy: Hotel ownership and distribution channels in Vietnam

<p>This thesis investigates how the different up-market hotel ownership modes establish distribution channels to reach domestic and international tourism markets in the context of Vietnam’s transitional economy, which has been transforming from a centrally planned to a socialist market oriented economy since 1986. It seeks to understand the current distribution channel structures of various hotel ownership modes; to explore the ways in which a number of factors influence distribution structures; and to examine the implications of these structures and factors for hotel and tourism development in Vietnam and in other economies with similar socio-political characteristics. A conceptual framework for hotel distribution channels is developed from a combination of the predominantly Western literature and the fragmented literature on hotel distribution in transition economies. The conceptual framework enables the researcher to investigate the linkages and relationships among the components that constitute the current Vietnamese hotel distribution systems. A qualitative approach is applied to address the supply-side issues of hotel distribution with data collected in the three largest urban cities located in the Northern, Central and Southern parts of Vietnam. The data collection methods were in-depth semi-structured interviews and document compilation. Different groups of participants from the Vietnam tourism industry including senior staff of sales and marketing of the four- and five-star hotels, international tour operators, high-ranking government officials of central and provincial authorities of tourism, key officers of trade organisations and academics from these cities were interviewed. The research presents the current distribution channel structures employed by four hotel ownership modes to reach domestic and international travellers. The findings also reveal that international joint venture and wholly foreign-owned hotels have effectively established their distribution channels to reach the international market. The entry of these international ownership modes as a result of Vietnam’s economic reform has forced state- and domestic privately-owned hotels to also build market-driven distribution structures. Economic restructuring in the context of Vietnam’s international integration has been the key element in creating the legal system, economic development, international tourist demand, technological advances, patterns of demand, hotel ownership and management modes that have driven the development of distribution. The research concludes that different hotel ownership and management modes and the distribution channel structures of up-market hotels are the products of Vietnam’s economic restructuring. The research suggests further economic renovation to meet the country’s commitments to international organisations, and to generate an equal tourism and hotel business environment in Vietnam.</p>