Public debt of Ukraine and its influence on main socio-economic indicators

Introduction. Solving the problem of public debt management is one of the key factors of economic stability in the country. The budget capacity of the state and the stability of its national currency largely depend on the nature of the debt problem settlement. The need to address these issues requires finding ways to improve the mechanism of public debt management and servicing in Ukraine. The purpose of the article is to study the public debt dynamics of Ukraine and model the nature of its impact on key socio-economic indicators in modern conditions. Results. The dynamics and structure of the state and state-guaranteed debt of Ukraine for the period 2013-2019 are analyzed. The negative dynamics of the growth of the total amount of debt during 2014-2018 is determined. In 2019, the total amount of debt in hryvnia decreased due to the reduction of external and guaranteed debt, but in dollar terms increased, which threatens the financial stability of the country. Using the software product EViews 10 based on the Granger causality test, the system of causal relationships between the dynamics of public debt (index) and indicators of socio-economic development: GDP growth rate, industrial production index, real income index, employment index, the index of exports of goods and services, the index of imports of goods and services has been researched. On the basis of the established causal relations the autoregressive influence models of the public debt dynamics on indicators of social and economic development are constructed, on which the error does not exceed 5%. Conclusions. According to the results of the constructed models, the negative impact of public debt on the main socio-economic indicators is determined, which is confirmed by the negative values of the elasticity indexes of socio-economic indicators. The built models serve as a preventive tool of public debt management, with the help of which it is possible to promptly respond to threats to socio-economic development by monitoring the level of public debt dynamics. Key words: public debt, public debt management, socio-economic development, financial security of the state.

Rationalization principles of product specialization choice of production in agrarian enterprises

The research is devoted to the scientific analysis of the rational choice principles of commodity specialization taking into account the functioning specifics of agricultural enterprises. The main tasks are identified, the solution of which has the potential to improve the internal specialization. There are among them: the maximum production increase in each unit, effi-cient use of production funds and work-force, improving the production efficiency. The adaptation process of commodity specialization of agricultural enterprises to market conditions is structured. Eight stages of it are distinguished: from deter-mining the change volume related to the enterprise adaptation to the external environment, to adjusting the system of opera-tional, tactical and strategic planning. In the factor analysis framework of the internal and external environment of agrarian enterprise, the determinants of its product specialization are systematized. The author's vision of the organizational and economic mechanism of managing the specialization of agricultural enterprises is outlined. The tendency to update the re-search of the risk system in the managing process the specialization of agricultural enterprises has been noted. This system has included the following risks: market, personnel, financial, legal, natural-climatic, logistical, agro-technological, the only mechanism for regulation in many branches of agriculture. The conclusion is made that substantiation of construction con-ceptual bases of organizational and economic mechanism of commodity specialization management of agrarian enterprise allows to realize adaptation development strategies of production and commercial activity. The basis is a comprehensive consideration of the factors of external and internal environment in the components mobilization of production and economic potential, as well as determining the configuration of management systems of commodity specialization in enterprise man-agement. Keywords: agricultural production, specialization, commodity specialization, commodity structure, agrarian enter-prise.

The effectiveness of the monitoring and control system in the agricultural enterprises management

Introduction. Due to the impact of the global financial crisis and the growth of competition in the international market, control in the enterprise management is becoming important. It provides feedback between the control and managed subsystems of the enterprise. The purpose of the research is to substantiate the effectiveness of the monitoring and control system in the agricultural enterprises management in an unstable economic environment. Results. It is established that the existing approaches to the agricultural enterprise management do not contribute to the effective implementation of monitoring and control. The number of problems in the process of agribusiness management were identified based on expert analysis. It is determined that the development of strategic management in the agricultural enterprises activities is hampered by the lack of use of appropriate monitoring and control tools. The guidelines of agrarian business entities are determined in accordance with the market concept of enterprise management. The coefficient analysis of capacity utilization and profitability of agricultural enterprises is carried out. The inconsistency of the existing approaches of agricultural enterprises management to the requirements of the market environment has been established. It is revealed that the imperfect organization of enterprise management contributes to the formation of an unstable information base of enterprise control. The operative orientation of control in the enterprise management of the agrarian sphere and neglect of strategic factors of success are determined. It is substantiated that the integration of economic monitoring and control tools in the management system contributes to the growth of enterprises economic efficiency. Conclusions. The formation of strategic goals of agricultural enterprises is based on the distorted implementation of the sustainable development concept. The presence of a significant number of factors is determined that inhibit the process of increasing the investment attractiveness level and economic efficiency of agricultural businesses. Keywords: monitoring, control, enterprise management, agrarian business entity, efficiency, strategic management, monitoring and control tools, information base.

Vector analysis in the system of organizational and legal security management of agricultural business entities

The management system formation of organizational and legal security of a business entity is a com-plex optimization process of decision making in dynamic and constantly changing conditions, which can simultaneously be characterized by uncertainty. In the classical formulation of the problems of modeling the optimized legal system of the sub-ject provides one objective function. In most cases, this function is a delineation of the economic component and will be a single criterion for increasing profitability while attracting cost constraints. Such a problem would be the only solution using linear programming theory. Such a theory will provide the development of the simplex method. But the situation of recent years with the use of single-criterion vector optimization problems allows us to consider them as partial, especially due to the involvement of factors of influence of different nature (economic, organizational, legal), which still have a system-ic influence. The latter, in turn, will not always be appropriate for the application of multi-purpose directed influence on a business entity. It is determined that the objective of the agricultural business entity objectively does not have a single de-nominator. Thus, the study of individual sources allows to distinguish at least economic and non-economic groups. In this way, a business entity cannot directly focus solely on the influence of a single purpose, economic, organizational or legal. Therefore, a business entity must identify several of the most significant landmarks. An example of a more successful appli-cation of vector analysis to the conditions of organizational and legal support of agricultural business entities is the use of a genetic algorithm. It is the basis for the gradual improvement of final solutions and the variety of methods for constructing global vector optimization criteria that will provide the corresponding adaptability functions. The application of this ap-proach, as well as the use of modern software under the conditions of validity and adequacy of the target functions, will become a reliable tool for the best directions of the strategic management development in the system of organizational and legal security of the subjects of agricultural business. Key words: vector analysis, optimization, organizational and legal security, business-subject, agricultural busi-ness, efficiency.

The evaluation of the use of tourist-recreational potential of Odessa region

Entry. In modern conditions of development of globalization processes, tourism and recreational activities is one of the directions of economic development not only of regions but also the world. The tourism industry on the modern stage the most rapidly evolving and affects the social, cultural, ecological environment and the environment acts as a catalyst for socio-economic development. At the same time, despite the significant amount of scientific research, the specifics of the tour-ist-recreational potential of the regions is not well understood. The aim of the publication is the definition of the functioning of tourist-recreational potential of Odessa region. Results. Determined that the tourism industries are in the top five industries generating the largest revenues in the world. The article examines the features of functioning of tourist-recreational activities. It is determined that the resource potential in each region is different. Refined conceptual and categorical framework in the context of defining "potential" and «tourist potential», «recreational potential», «recreational potential». The approaches to defining the tourism potential: natural, resource. Conducted a comprehensive assessment of tourism and recreational potential of the Odessa region. The tendencies of its composition, present state and usage. It focuses on the problematic aspects of the use of tourist and recrea-tional potential. Conclusions. The analysis of current trends indicates considerable prospects for growth and further development of tourist and recreational potential is the basis for the planning sector at the national and regional levels. Indicates the need for its comprehensive evaluation system, these shortcomings towards the realization of the tourism potential in the sectors of the economy. Key words: tourism, recreation, tourist and recreational resources, environment, the potential tourist and recreation-al potential.

Economic evaluation of the use of trading strategies in the commodity exchange market

Introduction. The development of the domestic economy largely depends on the stock sector. Exchanges are one of the key elements of the market mechanism. Their role is to establish links between producer and end consumer. Exchanges help to determine the objective market value of products, increase its competitiveness. The purpose of the research is to generalize the theoretical aspects of evaluating the use of trading strategies in the commodity exchange market. Results. The main shortcomings of the developed strategies of traders are highlighted. It is established that the influence of the trader is the most unpredictable factor in the process of forming and implementing strategies. The importance of keeping a trader's diary is noted. It was found that the trader reflects not quite the real situation in the process of keeping a diary. This reduces the level of objectivity of information. The structure is described and the method of filling in the trader's diary is considered. The role of keeping a transaction log for the trader is substantiated. The importance of risk management in the process of exchange trading is noted. The role of the decision-making mechanism is described in the trading stock market in conditions of uncertainty. The essence and stages of risk management strategy are determined. Price types of risks are characterized. Risk assessment methods are systematized. The main methods of risk management are given. Methods of risk avoidance, methods of risk reduction, methods of risk absorption and financing, methods of risk transfer are described. Emphasis is placed on the expediency of consistent use of these methods. Measures to minimize the degree of risk (diversification of assets, hedging and risk insurance, creation of reserves to cover risks) are identified. Conclusions. The development of traders' strategy should reduce risks in exchange activities. The formation of such a strategy takes into account many factors. It is proved that the use of risk management methods is the key to the effective operation of traders. The possible results from the introduction of such methods are described. Keywords: commodity exchange, trader, trading strategy, risk management, economic evaluation.

Management of integration interaction in management of agricultural production enterprises

The issues of agro-industrial enterprises integration are within the sphere of strategic planning. The author's vision of the category «strategy» is presented, which is an expression of the organization intentions aimed at achieving pre-selected goals through the allocation of limited resources (between organizational units, functions, regions, products, technologies). The main difference between strategic and other types of decisions is distinguished, which is a high level of generalization of its components’ description. The purpose formation question in the enterprise management structure of agroindustrial pro-duction in the context of factors of internal and external nature is investigated. One of the regularities of goal setting in the agro-food industry is highlighted, namely the close connection of the micro-, meso and macro levels. Thus, the realization of the goals of agro-complex development is determined by the choice of the most effective forms of integration and organiza-tion of diversified business structures. A departure from the classical understanding of the integration mechanism as a pro-cess of combining basic competencies through mergers and acquisitions has been made. The imperative of strategic manage-ment of the integration structural parameters in the formation of territorial-branch industrial complexes is formulated - obtaining a positive synergistic effect. For the territorial-industrial production formation for agro-complexes such form of integration as a cluster is proposed. In this case, the territorial-sectoral production agro-food complex, organized in the form of a cluster, is considered as a socio-economic system formed by a group of diversified economic entities that interact with each other through the exchange of services, people, technical ideas and information and resulting in synergistic effects com-petitive advantages. The features of cluster structures are distinguished: uniformity of elements; presence of centripetal forc-es; fuzziness and mobility of borders, configuration and internal structure; community resources; availability of internal infrastructure. The most important area of agro-food complex strategic management in modern conditions is recognized by the strategy formation of a marketing interaction with the external environment. In this regard, we propose a scorecard that allows us to evaluate the effectiveness of a firm's marketing interaction with a supplier, which primarily identifies a block of cost-effectiveness indicators and a block of social performance indicators. Keywords: agro-industry, agrarian enterprises, integration interaction, integrated associations, clusters, manage-ment.

Management of marketing and logistics in the strategic management system of agrarian enterprise competitiveness

Introduction. The use of a systematic approach to the distribution of agricultural products involves taking into account combinations of elements of the marketing and logistic system. Systematic management of product distribution is the key to the success of an agricultural enterprise. This helps to mobilize the available resources of the entity. The purpose of the scientific research is to develop theoretical aspects of management of marketing and logic in the strategic management system of the agro-business competition. Results. It is determined that the reproduction process depends on the formation and functioning of the distribution system. The dependence of the formation and functioning of the production distribution system from the influence of external and internal factors is substantiated. The influence factors on the formation and functioning of the production distribution system are determined. The effect of factors on extended and simple types of reproduction is characterized. It is established that the intensity of factors influence depends from the duration of the influence period. The factors classification by the appearance intensity of the factors action, by the systematic signs, by the mediocrity of influence and formation is proposed. The role of state factors in the formation and functioning of the products distribution system is noted. Principles are presented and the essence is characterized of the organizational and economic mechanism of the system formation of the enterprise product market division. The influence means of formation of the production distribution system are given. The enterprise product division from the standpoint of the systematic approach is considered. Conclusions. The necessity of formalization of the organizational and economic mechanism of the distribution system formation is conditioned by the synthesis of the economic base and the organizational measures. It is suggested to consider the involvement of economic and organizational means of influence at the enterprise level as a reaction to the application of a certain list of influence means by macro environments. The impact is carried out with the use of a wide range of production and sales tools in accordance with certain conditions of the agricultural enterprise activity. Keywords: logistics, logistic activity, logistics system, marketing, marketing of agricultural products, agricultural enterprise, sales channel.

Integrated agricultural associations in Ukraine: current status and development prospects

The current state of agricultural integrated associations in Ukraine is considered. Their significant distribution is analyzed, the variety of forms of integration in the developed countries of the European Union and the USA is investigated, their crucial importance in ensuring food security of the country and significant contribution to international trade is proved. The experience of forming vertically integrated structures in agro-industrial complex is considered. It is proved that the creation of vertically integrated structures in the agro-industrial complex solves the problem of food security of the coun-try, increases food exports, reduces disparities between industries, optimizes price chains from agricultural producers to the final consumer. Attention is drawn to the relevance of the study of the cooperation current state in rural areas in terms of promoting its revival, including: legal requirements for the formation of a diversified agricultural economy as a basis for rural man-agement, farms development, agricultural cooperatives and other relatively new organizational forms of agricultural entre-preneurship. Since currently the state does not have enough funds to establish a wholesale market, it is advisable to create alternative, small organizational forms of wholesale sales in rural areas. This may be cooperation in the field of procurement and marketing of agricultural products. Such cooperatives are designed to perform certain marketing functions. Peculiarities of domestic and foreign integrated formations development, motivation of direct participants to joint production-economic and marketing actions, coordination and carrying out of joint economic, scientific-technical policy, formation of regional economic complexes are generalized. The advantages and disadvantages of cooperation among other organizational and legal forms, as well as the advantages and disadvantages provided by agricultural holdings to agricultural producers are considered. The generalization of the conducted researches gave the chance to investigate motivation of the basic partici-pants, ways of realization of integration processes in market conditions. Key words: integration, integrated formations, integration processes, investments, innovations, investment climate, cooperation, agriculture, market infrastructure, diversification, associations, argoholding.

Certain aspects of evaluation of the level of efficiency of intensification in milk production

Evaluation of the influence of production intensity in the field of dairy farming on the level of economic efficiency was performed using agricultural enterprises of the Region of Kharkiv and Chernihiv as examples. The enterprises were grouped according to the level of expenses per cow: up to UAH 10,000, UAH 10,000.1 - UAH 15,000, UAH 15,000.1 - 20,000, UAH 20,000.1 - 25,000 and more than UAH 25,000. It was established that production intensity in the field of dairy farming is very closely related with productivity of animals. In order to verify the significance of differences between groups under the parameter of cow productivity, comparison of the means by Student’s t-test was used that confirmed defi-niteness of this difference. Productivity of cows consistently increased from the first to the fifth group. It was determined that in absolute terms the largest difference was between the fourth and fifth groups of enterprises, which amounted to 1685 kg, and in relative terms - between the first and second - 37.0%. The regression model developed on the example of agricultural enterprises at the Region of Chernihiv allowed to determine influence and closeness of relationship between the level of prof-itability of milk production and independent indicators: productivity of cows (milk yield per 1 cow), the size of agricultural land, production cost of 1 quintal of milk and the share of milk in the structure of marketable products. The nonlinear nature of the relationship between the cost per cow and the level of profitability of milk production has been established. Based on the constructed model, it was determined that in the agricultural enterprises of the Region of Chernihiv at the average level of management in 2016 the highest cost efficiency level (16.1%) took place for the expendi-ture of 29174.6 UAH / head. At agricultural enterprises of the Region of Kharkiv, the highest cost efficiency level in 2018 (17.3 %) was reported for the expenditure of UAH 40,241/head. Key words: dairy farming, production performance, production intensity, cost efficiency, non-linear dependence of parameters, correlation model.