RESEARCH OF FORMS AND METHODS OF INVESTMENT SUPPORT OF INNOVATION ACTIVITIES OF INDUSTRIAL ENTERPRISES

To solve the problems of stimulating the development of innovative activity of domestic enterprises, a number of regulatory acts have been developed in Ukraine today that regulate relations in the sphere of investment in innovation. National legislation defines the following forms of investment of innovative activity: state (municipal) investment, commercial investment, social investment, foreign investment, general investment. In order to receive financial support, the subjects of innovation activity whose innovation projects are listed in the State Register of Innovation Projects shall submit to the State Innovation Financial-Credit Institution (its regional branches) innovative projects and all necessary documents, the list of which is determined by it. The subject of innovative activity, the innovative project of which has been competitively selected, may receive one or more types of financial support from the innovative financial-credit institution, depending on the competitive procedure established by the competitive procedure. Financial support for the implementation of innovative projects can be provided in the form of successive tranches as a result of monitoring the progress of project implementation.The analysis of the structure of state financing of innovation activity by types of economic activity of subjects of innovation in 2018 allows to determine the priority branch of chemical and petrochemical industry. Investing of own funds of subjects of innovative activity is realized through capital investments and financial investments. Structural analysis of sources of financing of innovative activity in Ukraine allows to distinguish the overwhelming share of own funds of the enterprises in the total volumes of financing of their innovative activity. But in the conditions of insufficient level of state support of innovative activity of enterprises and instability of their financial results, as the main source of own funds for investing, the role of financial and credit providing of investments by the subjects of the financial market significantly increases.

Implementation of Innovation Development Models in Agrarian Sphere of Economy at the North Caucasian Federal District, Russia

The present paper aims to analyse the problems of the innovation development component in the agricultural economy of the North Caucasian Federal District of the Russian Federation in terms of the operational settings of agroeconomic systems, facilities of economic entities, organisational and economic mechanisms, managerial function and prioritisation of innovation directions. The current aspects of innovation-driven development of the regional agroindustrial complex are discussed. Priorities of innovation development in agriculture and related industries of the agroindustrial complex of the North Caucasian Federal District are proposed, based on the technological reequipment of agroindustrial enterprises, instituting the innovation-driven mechanism of agroindustrial operations, building up the information, people and financial support of the innovation development system of the agroindustrial complex, ensuring proper economic conditions for implementing innovation programmes and projects, state financing of innovation activities, broad attraction of investment and improving solvency. The practical implementation of innovations should rely on a built system of regional innovation-driven development, clear and structured iterations in adopting all groups of innovations in agroindustrial sectors based on centralised vertical alignment between all branches of government and horizontal cross-departmental cooperation. A crucial regulatory role in this process should be played by government structures across economic and education sectors closely tied with agroindustrial production. Effective implementation of innovation policies will depend on ensuring proper economic conditions for putting forward innovation programmes and projects, on the availability of state funding to support innovation activities, attracting investment in the innovation sphere, advancing entrepreneurship and commercialisation of innovation projects. The identification of factors inhibiting the adoption of innovation in the agroeconomy of the North Caucasian Federal District and current trends in innovation activities of enterprises and operations suggests a conclusion concerning the need for a systemic approach to innovation in the region taking into account national interests and makes the basis for further proposals of scientifically-based directions of economic transformations and coordination of efforts between all government structures engaged in this process and responsible for solving these tasks. The findinmgs of this paper can be used by the control bodies of the regional agroindustrial complex, by the students of agricultural colleges and other public and private entities of the North Caucasian Federal District for better economic transformations and coordination.

Public-private partnerships in US innovation

Introduction. The subject of the research is public-private partnership (PPP), which contributes, through funding and incentives, to the spatial development of innovation in the United States. As an economic phenomenon, PPP is seen as an effective mechanism for integrating investors, business (primarily venture capital) and the state aimed at implementing the innovation process at the meso-spatial level – states and regions (subregions) of the United States – within the framework of regional innovation systems (RIS), contributing to territorial differentiation. Theoretical analysis reveals the factors and mechanisms of public-private interaction in the space of the corresponding RIS states and sub-regions of the country, characterized by the institutional and functional role of American forms of PPP in the implementation of innovative projects at the regional level. A hypothesis is formulated about the heterogeneity and unevenness of the united innovation space in the United States, one of the foundations of which is the differential nature of state financing of innovation activities at the regional level. Empirical analysis. A correlation is shown between indicative indicators reflecting the level of innovative potential and characterizing the innovative activity of the RIS of the states and subregions of the United States as a whole, on the one hand, and the degree of development of the innovative potential of PPP within the RIS of the corresponding territory, on the other hand. The carried out typological grouping of RIS states based on the lognormal distribution reflects the statistical commonality of the analyzed indicators. Results. Based on the available values of the indices characterizing the innovation activity of the RIS of specific states and subregions of the United States, as well as the calculation of integral indicators that make it possible to assess the interaction of PPP subjects, which are at the same time the institutional and functional elements of the corresponding RIS, a hypothetical statement about the unevenness of the US innovative development has been confirmed. In this case, the territorial differentiation of innovation in the United States and its impact on the spatial aspect of the development of an innovative economy, and, consequently, on economic growth, is determined by the intensity of the use of innovative potential by forms of PPP, which involves proactive financing and stimulation of innovative business projects at the expense of budgetary funds in the RIS of specific groups of states and sub-regions of the United States.

Belgium: Formalization and Incremental Development of a Supervisor with Increasing Powers and Authority

The formalization process of Belgian banking supervision provides an interesting case. Mixed international influences as well as major domestic reforms influenced the direction of formalizing the supervisory system. It began in the middle of the 1930s as a consequence of the economic and financial crisis at the beginning of the decade. The reforms undertaken in 1934 and 1935 transformed the Belgian banking system from a free and unrestricted market, featuring very influential financial groups operating universal banking, to a supervised and more specialized banking system. However, based on our understanding of “formalization,” the process was not completed until the mid-1970s, because newly created formal supervision agency—the Banking Commission—initially functioned with very little resources and powers on a similar basis as its Swiss equivalent. In the post-Second World War era, the Belgian banking supervisor developed significantly, and its influence reached beyond mere prudential supervision. By the mid-1970s, the Banking Commission got involved in monetary and state financing policy, and the agency obtained the supervision of additional financial institutions.

Social Expenditure and Welfare State Financing

This chapter focuses on both the expenditures and the revenues of the welfare state. Using the latest data available, it depicts and analyses major developments in social spending and public revenues in twenty-one advanced Western democracies since 1980. The entry discusses measurement issues, depicts the determinants of cross-national differences in spending and revenue levels identified in the literature, and sheds light on the impact of social spending and taxation on social outcomes, such as income inequality. It is argued that spending and revenue figures, irrespective of several shortcomings, provide important indicators of both the logic and pattern of welfare state development.

Features of Regulatory Regulation of State Financing of Maintenance of Jury Trial in Ukraine

The article analyses the peculiarities of legal regulation of state funding of jury trial maintenance in Ukraine. On the basis of the cited statistical data it was established that the monetary compensation for jury trial in Ukraine is minimal in comparison to the USA, Canada or France. The high level of jury monetary compensation depends first of all on the social and economic development of the country. The conclusion is drawn that the legislator's actions of the recent years are directed at the classical jury trial model, which exists in many countries of the world, with an appropriate level of financial assistance and an appropriate level of logistical support.

A toolkit for assessing the directions of budget financing of education in post-crisis conditions

Public financing of education is one of the most important fiscal instruments for responding to the challenges of post-pandemic economic recovery. Investments in higher and vocational education form the basis for the growth of total factor productivity, and therefore economic growth. At the same time, in the context of austerity, which will determine the directions of the budgetary policy of developing countries in the medium term, the key directions of fiscal intensification of the factors of economic growth require identification. It is proposed to include indicators of return on investments in various levels of education to the toolkit for assessing the directions of state financing of education as one of the most important factors of post-pandemic economic recovery in conditions of austerity. Differences in estimated returns from different educational levels can be taken into account in the development of public policy for financing education. The article offers an approbation for Ukraine of the approach of the Center for European Economic Research for calculating the return on investment in higher and vocational education. A feature of the proposed approach is the ability to simulate a sufficient amount of data on revenues of individuals in conditions of limited information. The calculations in the article are based, in addition to data on the level of wages of persons with higher and vocational education, on the amount of budgetary expenditures on education throughout the course of study per student, personal income tax rates, unemployment benefits and state social assistance per person. The proposed approach makes it possible to carry out scenario estimates of the return on investment in education based on macroeconomic forecasts and taking into account changes in tax legislation. It is found that in Ukraine the return on investment in higher and vocational education corresponds to the average values of the corresponding indicators for the OECD countries. The author outlines the guidelines of the proposed methodological approach and prospective areas for its application.

PROBLEMS OF FINANCING OF AGRICULTURAL EXTENSION ACTIVITIES IN UKRAINE

The article analyzes the current state of financial support for socially oriented extension services in Ukraine in order to identify the obstacles to stability and regularity of its implementation. It has been established on the basis of statistical data, that the financing of such activities from the state budget has a downward trend. Its volumes are tens of thousands of times less than similar budgetary expenditures in post-socialist countries that are currently EU members. The results of a survey of representatives of consulting services showed that the reason for the low activity of the registered agricultural extension services in the implementation of state programs to support agricultural producers and, accordingly, the incomplete development of the allocated funds are the scarcity, unpredictability and instability of state support for agricultural extension activities, the weakness of the coherence between themselves of the state programs, aimed at the development of the agricultural sector of economy. There is also a lack of understanding of the importance of agricultural extension by local government representatives. It is proved that conservatism in the introduction of innovations by owners of small farms, low level of awareness of agricultural extension, significant distance of advisory centers from potential customers, low income of the rural population minimize their ability to pay for commercial advisory services. It is established that financial and organizational difficulties have a significant negative impact on the psychological aspects of counseling. Advisors declare a lack of faith in their own strength. The results of the study allow us to assert that the formation of stable, simple and clear rules for long term state financing of agricultural extension activities and the absolute abidance of such rules by state institutions will help to increase the sustainability of financial support for agricultural extension activities in Ukraine.

THE EFFECT OF TAX LITERATION AND SOCIAL ENVIRONMENT ON TAX AWARENESS IN HIGH SCHOOL STUDENTS

Taxes are a very important source of state revenue in supporting the country's development. State financing depends on tax revenue. Current tax revenue has not met the target, the sluggish Indonesian economy is the cause of not meeting the tax target. One of the efforts made by the government is to increase tax awareness where the Director General of Taxes implements one of the Tax Inclusion programs aimed at the younger generation, one of which is high school students. The given tax knowledge will encourage students to be positive and change the mindset of students so that they can produce positive tax behavior. This study uses two factors in measuring the tax awareness of high school students, namely tax literacy and social environment. The purpose of this study was to examine and analyze the effect of tax literacy and the social environment on tax awareness among high school students in Surabaya and Sidoarjo. The method used in sample selection is non-purposive sampling with a total sample of 398 respondents. The results of this study indicate that the tax literacy and social environment variables have an effect on tax awareness among high school students in Surabaya and Sidoarjo.

Unit Economics of Russian Political Parties: Political Consumerism and Ideological Factor

The article uses the methods of unit economics to analyze inter-party competition in the Russian Federation on the example of the 2016 elections to the State Duma. The author concludes limited applicability of unit economics for the analysis of electoral strategies and prospects of both parliamentary and new parties. The current mechanism of state financing of political parties encourages them to drift in the direction of market or rental strategies.