INTERNATIONAL EXPERIENCE IN PROVIDING FINANCIAL SUPPORT FOR LOCAL INVESTMENT PROJECTS

The article considers the relationship between modern processes of budget decentralization and macro-financial policy of Ukraine. The focus on deepening decentralization processes in Ukraine remains unchanged. This emphasizes the use of the State Strategy for Regional Development for 2021-2027. The theoretical foundations of budget decentralization were introduced in the works of C. Tibet, W. Oates, E. Bracco, W. Tanzi, A. Aristovnik and other Western researchers. C. Oates defined the decentralization of fiscal powers as a benefit that could lead to a reduction in the size of the central government. This means reducing the tax burden by increasing competition from tax jurisdictions. For quantification at the level of an individual economy, it is possible to use the index of fiscal decentralization. This index consists of two sub-indices: the self-sufficiency index and the index of importance of subnational budgets. The OECD Fiscal Decentralization Database can be used as a source of information on fiscal decentralization. A retrospective analysis of economists has shown an increase in the index of fiscal decentralization and an improvement in the state of subnational entities in a favorable macroeconomic situation. On the contrary, the crisis worsens the conditions of subnational entities and is accompanied by a decrease in this index. With the beginning of the pandemic, there was a crisis situation regarding the macroeconomic support of further decentralization processes. Long-term social problems are deepening: demographic negatives, increasing external outflow of labor resources, shrinking the country's economy, progressive deindustrialization, high resource intensity of production, in particular, low energy efficiency, growing debt burden. The most destabilizing role is played by military events in the east of the country. High regional disproportion logically leads to a violation of the single economic space of Ukraine. The size of the budget deficit and public debt is increasing. The crisis has a significant impact on all macroeconomic processes, in particular, on the macro-financial stimulation of budget decentralization processes. The urgent task is to establish effective coordination of fiscal and monetary policy, as well as increase the capacity to attract loan financing. Extreme conditions force us to temporarily give up strategic intentions as such, which are not urgent. Public-private partnership can get another chance to become an effective mechanism of social interaction. Increasing competition between budgetary institutions and private institutions in these areas has the potential to increase the quantity and quality of public services.

Latin American public opinion vis-à-vis regional integration (1995-2018)

Literature on opposition to regional integration has concentrated on the European Union (EU). So far, very few systematic attempts have been pursued to explain opposition to regional integration in Latin America or to identify its main influential factors. Based on Latinobarometer surveys, two main findings emerge from this paper. First, it confirms that opposition to regional integration is not a generalised attitude among Latin Americans. Secondly, the way in which citizens across Latin America evaluate regional integration is strongly influenced by the same predictors as in the EU. Together, citizens’ assessments of economic performance (both at the individual and national level) enjoy a preponderance to account for their position regarding regionalism. Others variables, i.e. age, ideological position, and level of education have a more limited explanatory value while occupation is not significant. Thus, economic variables such as citizens’ perceptions of their national and individual economy have proven to be directly linked to support for/opposition to economic integration.

CHINDIA THE TITANS' CHANGE HAS COME

Indian and Chinese civilizations have economically dominated the world for 15 centuries, when they are overtaken by: Europe, America, Russia, the Arab states, Brazil, Mexico or Japan, shamefully entering a shadow cone that stretched 3-4 centuries. Towards the end of the twentieth century they begin to matter again, and during the twenty-first century it seems that they will replace the European Union and the United States, dividing the planet into two major spheres of influence, avoiding regionalization on religious or civilizational criteria or the multipolar world predicted by some geopolitics, so China will represent the continuity of the planned and agile economy of the USSR, but with a high dose of determination found locally in the Japanese and Koreans, while India will be the 3rd West after the end of world domination by Western Europe and the USA, based on democracy, parliament, federalism and the individual economy but also characteristics specific to the states of the planetary geopolitical south.

INDUSTRIAL REVOLUTIONS AND SHIFTING OF GLOBAL COMPETITIVENESS

Industrial revolutions marked rapid structural transformation in the manufacturing sector making changes to production processors and products while reshaping the lifestyle across the world. Industrial revolutions redefined the product identity of every individual economy with the changes of specializations acquired through different manufacturing sectors. Similarly, new sets of countries emerged as industrial input providers as well as output buyers. At the same time, the world specialization in the manufacturing sector diversified along with the expansion of global value chains. As a result, the final product is assembled in one location while a multitude of components is produced globally by different countries. The intention of the article is to examine the shift of global competitiveness throughout the last two decades with the emergence of the Fourth Industrial Revolutionary implications especially among Developed Economies and Newly Industrial Economies. The international competitiveness of a country is mainly decided by the relative cost of production. The relative cost is again decided by the productivity, availability of quality resources including labor, cost of doing business, favourable macroeconomic factors, and institutional factors. The main objective of this study is to focus the attention on the reshaping of the global competitiveness map along the timeline as a result of technological spikes known as industrial revolutions paying special attention to the fourth industrial revolution. The secondary sources are tapped for the necessary information and mixed-method is applied to analyze the gathered data. The implications of the fourth industrial revolution show the reshaping of the global competitiveness landscape faster than the previous industrial revolutions. Countries with more commercialized innovations, intellectual property rights, and adopting key technologies such as artificial intelligence, big data analytics, the internet of things, cloud computing, 3D printing, and simulations in production are at the forefront of the competitiveness in the manufacturing sector.

Identification and behavioral characteristics of stakeholders of Water Diversion Project – based on ‘sustainable supply chain theory’

The South-to-North Water Diversion project, as one of China's strategic projects, plays an important role in China's development. It's been 68 years since the project was conceived, in 2014, the central route project began to supply water. Users along the route are both beneficiaries and project influencers. Their behavior characteristics in the project operation, have become a topic worthy of study. In this paper, based on questionnaire conducted among government departments, enterprises and residents and stakeholder theory, under the theory model of Sustainable Supply Chain (SSC), around the Triple Bottom Line(TBL) including society, economy and environment, the ecological compensation, sewage treatment and reservoir operation management in Xichuan county were investigated and studied. A total of 289 answers were recovered. Through the survey, it is found that: Stakeholders include 15 township governments in Xichuan County, water conservancy project supporting facilities construction companies, ecological industry companies, water supply companies and other enterprises, as well as agricultural growers, rural farmers and non-agricultural residents in Xichuan County. Government stakeholders pursue the development of the overall operation of the project, while enterprises and residents pursue the development of individual economy. Finally, this paper lists the relevant indexes, which provides conditions for behavior evolution analysis and sustainable research of the project.

Developing Vietnamese Individual Economy in the Context of International Economic Integration: Research at Vinh Phuc Province

Economic restructuring has been one of the urgent requirements for the Vietnamese economy, especially in the context of the expanding the economy in the industrial revolution 4.0. The growth effects are intensifying and the growth rate seems to slow down. The individual economy is considered to be one of the important drivers for economic growth in Vietnam in the upcoming years. As the region with the largest proportion in the economy, about 40% of GDP (Thanh Binh, 2018), the achievement of economic restructuring goals in the direction of industry restructuring, agriculture developing of worms processing, refined processing of agriculture, forestry, fisheries, manufacturing; increasing the internal productivity of the industry, increasing the technology content and the proportion of domestic value in the product, etc. This article focuses on analyzing the situation of individual economy development in Vinh Phuc province, Vietnam, pointing out the achievements, limitations, causes and some recommendations to promote individual economy development in Vinh Phuc province, Vietnam in the context of world economic integration.

Changes in the Understanding of Religious and Cultural Components of Human Capital

This research identified structural differences between the religious and cultural components of human capital in Western and Russian intellectual traditions and created a specific holistic structural conceptual framework based on which further research can be carried out, or decisions can be made about determining human capital for scientific and public policy purposes. Experts selected research texts for examination, and their structural-semantic analysis was used as a research method. A group of 32 authoritative Russian university experts was formed to select the most significant and influential studies of Western scholars on human capital and changes in the attitude towards assessing its religious and cultural components. The selected works were analyzed to determine common concepts for which semantic relationships were established. As a result, a structural diagram of Western research's main ideas concerning the religious and cultural components of human capital was created. Among the totality of basic ideas that define the Western paradigm, there is a generally negative assessment of religiosity as a component of psychology that influences productive forces; a high level of religiosity is rarely correlated with economic prosperity and is not necessarily associated with high levels of morality or health. The novelty of the study is due to the fact that so far no attempts have been made to highlight the most important features of the Western paradigm of understanding the role of a religious or cultural component in the development of human capital and to apply it to determine the differences and possible strategies for the development of the individual economy (in our example, the Russian one). The paper also analyzed the essence of the contradiction between Western and Russian concepts of human capital. This study could serve as a foundation for further developing a strategy for identifying and using human potential to determine public policy for cultural and economic development.

Analyzing the Current Situation About the Constitution Protecting the Business Freedom Under The Background of the New Era

With the continuous progress of the economy of China and the full integration with the system of socialism with Chinese characteristics, Chinese economy has been further developed and gradually tends to be improved. Under the background of the new era, there are great differences between the public economy and the non-public sector of the economy that is including the private economy and the individual economy. The non-public sector of the economy is mainly to pursue the maximization of operating profits. In fact, it defers to the intention of managers. Therefore, the planning of business freedom becomes a power to protect the business property and business freedom, which is the most important issue to be considered in the context of the new era.

Home-Based Enterprise and Its Impediment Factors to Self-Help House Improvement in Kampong Cikini, Jakarta

This research aims to embellish the existing literature on Home-Based Enterprise (HBE) to recuperate it as one of the effective solutions for self-help slum improvement programs in the future. Many experts have praised HBE as one of the plausible solutions for slum alleviation through income-generating activities that will enable the underprivileged to perform self-help house improvement. However, there is a vague establishment between HBE to self-help house improvement in Kampong Cikini, as one of the notable slum settlements in Central Jakarta. Through the employment of the case study method, this research established HBE’s contribution to self-help house improvement is less significant because of several impediments, which indicates the increment monthly income from HBE cannot automatically ignite the self-help house improvement. Both HBE and self-help house improvement are inseparable from socio-economy activities in the neighborhood and cannot be comprehended as an individual economy household’s activities. Therefore, specific solutions are required to overcome the mainly encountered impediments with considering the established interwoven domestic and economic activities, for increasing the impact of HBE to self-help house improvement.

The Effectiveness of Digital Health Interventions in the Management of Musculoskeletal Conditions: Systematic Literature Review

Background Musculoskeletal conditions are the second greatest contributor to disability worldwide and have significant individual, societal, and economic implications. Due to the growing burden of musculoskeletal disability, an integrated and strategic response is urgently required. Digital health interventions provide high-reach, low-cost, readily accessible, and scalable interventions for large patient populations that address time and resource constraints. Objective This review aimed to investigate if digital health interventions are effective in reducing pain and functional disability in patients with musculoskeletal conditions. Methods A systematic review was undertaken to address the research objective. The review was conducted in accordance with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses guidelines. The review protocol was registered with the International Prospective Register of Systematic Reviews before commencement of the study. The following databases were searched: Medical Literature Analysis and Retrieval System Online (MEDLINE), Excerpta Medica database (EMBASE), Cumulative Index to Nursing and Allied Health Literature, and Scopus from January 1, 2000, to November 15, 2019, using search terms and database specific−medical subject headings terms in various combinations appropriate to the research objective. Results A total of 19 English language studies were eligible for inclusion. Of the 19 studies that assessed musculoskeletal pain, 9 reported statistically significant reductions following digital intervention. In all, 16 studies investigated functional disability; 10 studies showed a statistically significant improvement. Significant improvements were also found in a range of additional outcomes. Due to the heterogeneity of the results, a meta-analysis was not feasible. Conclusions This review has demonstrated that digital health interventions have some clinical benefits in the management of musculoskeletal conditions for pain and functional disability. Digital health interventions have the potential to contribute positively toward reducing the multifaceted burden of musculoskeletal conditions to the individual, economy, and society. Trial Registration PROSPERO CRD42018093343; https://www.crd.york.ac.uk/prospero/display_record.php?RecordID=93343