Value Added from the Perspective of Econophysics

The production, or value added, approach to GDP involves calculating an industry or sector’s output and subtracting its intermediate consumption (the goods and services used to produce the output) to derive its value added. The value added at the macro level depends on business efficiency. It reflects an increase in value that a business creates by undertaking the production process. We assumed that the market creates thousands of vibrating energies, coming from other enterprises, with different frequencies. The purpose of this article is to verify whether the econophysics approach could be successfully used to assess a business from the perspective of the interaction between economic forces. Thus, we propose that the term ‘value added’ be understood as a certain amount of accumulated energy of enterprises that comes from the interaction of basic economic forces and economic vibrating forces of accounting. Using regression models, we show the influence of basic forces, like debt and the stock market, and vibrating ones (i.e., accounts payable, accounts receivable, inventory) on the economic value added by testing US, European, and emerging markets. We confirmed the relevance and appropriateness of the econophysics approach to estimating the economic value added.

Priority areas of state regulation of the industry in the context of sustainable development

In the article it is proved, that the economic development of any industry depends on the results of the economic activities of the enterprises that are part of it. Based on the available statistical data, we proposed a model for diagnosing the results of the mining industry and conducted a comparative analysis of the results of the study in the context of economic activities. Given the high integration of mining enterprises into the system of intersectoral relations, this problem cannot be solved within the framework of one industry. Therefore, it is proved that, taking into account the existing experience, it requires complex measures: accounts receivable are formed as a result of late payment for delivered products. The main consumers of the extractive industry are: the processing industry, the supply of electricity, gas, air conditioning and transport. They consume more than 87% of the products of this industry in the intermediate consumption market and are the most debtors; on the other hand, these regions are also the largest suppliers of raw materials, materials and semi-finished products for the extractive industry. Therefore, in the end, the accumulation of current accounts payable at the enterprises of the extractive industry for the delivered goods and services is the least desirable for them.

Assessment of the Development of Agriculture in Russia Based on the System of National Accounting

The growing interest both in our country and throughout the world in agriculture as an economic activity of strategic importance for ensuring food independence of the country determines the relevance of research on devising approaches to the analysis of its development using statistical methods. The authors’ approaches to assessing the development of agriculture in Russia based on data from the system of national accounts, including input-output tables, presented in this paper, make it possible to characterize the dynamics of the formation and use of output and gross value added (GVA) of the agricultural sector of the economy (including in the institutional context); assess the demand for each of the presented products within the industry and in the intermediate consumption of other industries; to identify structural changes in the composition of intermediate consumption in the production of goods; determine the trends and prospects for the development of agriculture on their basis.As part of the study, the authors disclosed additional analytical capabilities of statistical databases that include agricultural censuses and current accounting data in the system of macroeconomic indicators and allow for a more accurate assessment of the effectiveness of agricultural development. The calculated coefcients of direct costs ranged in the form of time series, analysis of the structure of intermediate consumption made it possible to identify the features of the development of the Russian agricultural sector and the directions for improving its economic and statistical analysis. The authors argue for the need to take into account the phenomenon of multistructure of agriculture in Russia to calculate the gross value added produced in the sector of peasant farms, subsidiary farms, separately small and large agricultural organizations, including holdings, with the obligatory comparison of the selling prices of their products used when calculating output and GVA. A proposal was made to include a table with additional information on labor costs and consumption of feed, fertilizers, electricity, and other basic resources in physical terms in the system of input-output tables by industry.

DIGITAL TECHNOLOGIES IN INNOVATIVE AND STRUCTURAL TRANSFORMATION OF UKRAINE'S ECONOMY

The article substantiates the role of artificial intelligence in procuring the management of innovation and structural transformation of the economy. The analysis of structural shifts in gross value added in the economy of Ukraine during 2002–2019 is carried out. Solow’s residuals are calculated for the primary, secondary and tertiary sectors. The expediency of managing the innovative and structural transformation of Ukraine's economy on the basis of changes in the level of Solow's residual in that sector and in the period of time determined by big data analysis by artificial intelligence is proved. A VAR model was built in the EViews environment for Solow’s residuals in three sectors of the Ukrainian economy. Based on variance decomposition and IRF, it is established that increasing the share of intermediate consumption by the secondary sector of education, ICT, professional, scientific and technical services will increase Solow's residual in the secondary sector in two years, in the tertiary sector in three years and in the primary sector in four years, which will affect the increase in output in Ukraine during these three years.

Methodological aspects of the problem of measuring shadow activity in the economy

The relevance of the problem of measuring shadow activity and its significance for the purposes of macroeconomic analysis and forecasting is emphasized. The importance of forming an adequate methodological base for measuring shadow activity and developing an information support system for its research is substantiated. The existing approaches to the definition of shadow activity and methods of its measurement are analyzed. The possibility of building an information base and obtaining appropriate estimates of shadow activity on the basis of resource and use tables developed at the national level is evaluated. The possibility of using the resource approach as the most objective method of reflecting the volume and components of shadow activity at the sectoral and macro levels is studied. The conditions for the use of the resource approach are determined, taking into account the specifics of the industry features of the formation of output and intermediate consumption indicators. The possibility of constructing dynamic series of indicators constructed using the resource approach for analytical purposes is evaluated.

CHALLENGES BEFORE THE DEVELOPMENT OF THE ENTREPRENEURSHIP IN AGRICULTURE

According its position in the supply chain, agrarian producers could contemplate higher or lower possibilities for the realization of its production. Not all types of cultures allow reaching final clients directly, because those products are aimed for intermediate consumption or are used as a source for Food processing Industry. Reaching final clients producers could be benefited by higher prices of realization of their products, but a "vertical integration forward" is required to be done successfully. Additional labor and capital resources need to be invested in that activity. Information of the market and acquisition of knowledge both commercial and assessment of experts are also required in order to be accomplish the realization of products both in national and external markets. The aim of this research is to identify and asses different ways that are available to Bulgarian agricultural producers for the realization of their production. For that reason precisely the position of the supply chain could determine broadly the depth and the horizon of market possibilities available.