Analysis of approaches to assessing changes in welfare and real GDP growth during digitalization of the economy

The paper attempts to estimate, in monetary terms, the volume of free digital services in GDP while assessing the contribution of digitalization to changes in welfare and economic growth. Approaches to such an estimation are analyzed and criticized. In particular, the calculation of the added value created in the digital sector does not properly reflect the economic effect of digitalization. Alternative auxiliary methods for estimating the contribution of digitalization to GDP growth are considered: the creation of satellite accounts of the digital economy within the SNA; the categorization and calculation of “purely” digital goods. The paper analyzes the methodology of calculating GDP which takes into account consumer surpluses from the use of free digital goods. The advantages of this methodology are outlined, including the consideration of a significant part of the digital sector of the economy in the calculation of GDP, as well as the relative ease of its use. This methodology was tested by drawing on the example of the Republic of Bashkortostan.

SMART GRID ENERGY CONSERVATION MANAGEMENT BASED ON THE UNIVERSITY'S ENERGY INNOVATION HUB OF KNOWLEDGE

BACKGROUND AND OBJECTIVES. Due to increasing energy costs, as well as strict environmental regulations, there is a growing need for greater resource efficiency, which makes energy-efficient solutions necessary. Thus, the importance of innovations based on technologies designed to save energy, such as the Smart Grid, is increasing. Smart Grid is not just a compilation of smart meters or other electrical devices, it is a series of technologies, a concept of a fully integrated, self-regulating and self-healing power grid, which has a network topology and includes all sources of generation, transmission and distribution, managed by a single network of information and control devices and systems.METHODS. As the main method used was the calculation of the synthetic balance of savings from the use of different types of energy resources by the university after the implementation of the application Smart Grid-energy conservation management on the basis of the university energy-innovation Hub of knowledge.FINDINGS. A mechanism for the implementation of the Smart Grid energy-saving management application on the basis of the university energy-innovation Knowledge Hub is proposed. Smart Grid is designed to provide real-time data on the almost instantaneous balance of energy supply and demand. To ensure grid reliability by reducing peak demands and improving energy efficiency, Smart Grid data management is an affordable and effective tool for data analysis and decision making.CONCLUSION. The results of calculation of the predicted effect of the Smart Grid application implementation for the 4th building of Kyiv National University of Technologies and Design proved that the reduction of installed capacity as a result of the project was 80.5%, i.e. a 1% reduction in capacity creates an economic effect of 0.58% of the costs associated with modernization. Given the current level of electricity consumption, we can predict a potential reduction of 951 thousand UAH per year or almost 50% of the cost of electricity consumed in 2020.

PRODUCT DIVERSIFICATION AS A FACTOR IN THE IMPLEMENTATION OF AN INNOVATION STRATEGY

The theoretical part considers the essence of product diversification and defines its role in the theory of economic growth. The classification of types of diversification is given, the main advantages and disadvantages of its application are revealed.In the practical part, an analysis of the development of the economy of the Republic of Belarus was carried out, as a result of which its high dependence on the results of the work of a narrow group of industries was revealed. As a factor in increasing the sustainability of economic growth, a policy of product diversification is proposed, considered on the example of the activities of a particular enterprise. In particular, measures are recommended to modify the technical process, which will increase the output of products with improved quality characteristics and higher added value for the needs of a related industry (in the given example, the use of food products in pharmaceuticals). The economic effect of implementation is presented.

Possibilities of Social Bonds Using to Finance Higher Education Institutions

In many countries, funding for higher education institutions is insufficient and requires the search for new financial instruments and financing models. One such financing model could be the issuance of social impact bonds aimed at improving the efficiency of higher education institutions. The study focuses on the use of financial instruments as social bonds for additional funding of higher education institutions. The peculiarities of social bonds and the possibilities of their application in the field of higher education are explored in the paper. The results of the study comprise three proposed innovative approaches to the development of a mechanism for the issuance of bonds. The first approach assumes that the issuer of social bonds in favour of the university is a bank or other financial institution. The second approach is based on the methodology of issuing social bonds by a university with the participation of the state. The third approach to the use of social bonds is the creation of a platform for financing long-term educational programs; it can be done with the participation of a large company implementing large-scale socio-economic projects. Such platform will have a great social and economic effect.

Range of goods in framework of agricultural enterprise management

The study of the product range of the enterprise, in particular, the agricultural ones, is one of the priority areas. Maintaining a stable demand for reduced goods is an obligatory condition for strategizing activities, a guarantee of development. The presented research reflects the theoretical foundations of enterprise management, in terms of building a strategy; the assortment features for both commodity and trade ones are disclosed; the authors highlighted the specifics of agricultural production through strategic management and its goal setting. In the main part of the work, there is a block focused on the study of the assortment within the framework of the agricultural enterprise management, based on the product range optimization. This is supported by the conclusions that this approach is a source of diversification of an agricultural enterprise production activity and takes into account both the existing market needs and the capabilities of the enterprise itself when creating the necessary conditions for its development, ensuring competitiveness not only in local markets, but also includes a possibility to expand its market zone. The assortment of goods was studied in a separate block on the example of a specific agricultural enterprise - the greenhouse complex JSC “Sukhovskiy”, a member of the Siberian agricultural complex of the brand “Em Rodnoe”. The assessment of the main economic indicators of the activities of JSC “Sukhovskiy” was carried out. For the purpose of practical testing of the developed directions of strategizing the product range of JSC “Sukhovskiy”, there was proposed a variant of its expansion by introducing roses into the “line” of production as the most popular and demanded flowers in high demand among the population. In addition, the agrotechnology of this production in the conditions of a greenhouse economy is shown, possible sales channels for finished products are proposed, the costs of the “rose” assortment line are structured and the predicted economic effect from the implementation of the proposed measures is calculated.

Structural-&-Phase Condition and the Damageability of the Welded Joints of Steam Pipelines at Thermal Power Plants

The authors studied the interrelation between the type of structure and the damage rate of the welded joints of steam pipelines made of the heat-resistant pearlitic steels that were operated for a long time, i.e. more than 270 thousand hours in the conditions of creepage and low-cycle fatigue. The purpose of this research was to establish the interrelation between the structural-&-phase condition of the metal used for welded joints of the elements of steam systems and their damageability rate for the service life of welded joints exceeding 270 thousand hours. During the studies, the methods of optical and electron microscopy were used according to the requirements of the guideline documentation and also the methods that are used for the determination of mechanical properties. The level of their reliability has been substantiated and the residual life has been determined. To impart functional performances to welded joints we used well-known methods that were appropriately emended according to the structural changes of above joints. Such changes condition the conversion of the original structure of welded joints into the ferrite-carbide mixture. The availability of the conversion process of the initial structure on the thermal action zone sections (TAZ) of welded joints has essential distinctions due to a different disposition of metal to its own damageability. On the whole, the welded joints are damaged more intensively in comparison to the basic metal of steam pipelines. The analysis of the structural state of welded joints in the steam pipelines of thermal power plants as for the extension of their service life results in a considerable economic effect. Understanding the fact that the metal deterioration in welded joints adheres mainly to the fragile mechanism we managed to establish the level of their damageability that demands the renewal of damaged welded joints. We believe that the damageability level of welded joints that tots up to 0.25 or 0.35 of the volume of their TAZ section should be considered as critical for the service life exceeding 270 thousand hours. The damaged welded joints should be renewed throughout the time period of 15 to 20 thousand hours as soon as the specified damageability level is attained.