JANOS KORNAI AND HIS MEMORABLE WORK

Janos Kornai is the foremost economist of the socialist and post-socialist countries in the last 50 years. He was a world-famous scientist, who left behind the great legacy of works published in more than 20 languages. His theory of system anti-equilibrium in the centrally planned economy, the concept of soft and hard budget constraints, and the economic deficit had revolutionary significance for the scientific explanation of the production processes and distribution and deepening of capital in the state socialist economics. His contribution to the political economy of socialism, which he taught at Harvard University was particularly significant. In practice, Kornai was satisfied with the descriptive approach analysing of the socialist system whereas, in works published after 1989 he drew attention to normative economics, proposing the ways of structural reform, institutional constructions, and economic policy in the post-socialist transition stage. His last book, in which anti-equilibrium characterized by deficits under socialism compared with the anti-equilibrium specific to the overflows under capitalism is essential. The evolution of the academic thought of this eminent economist and its influence on real economic processes was analyzed. Polemical comments about the interpretation of economic and social processes, which takes place in China are added.

IMPACTS OF INCREASING FREIGHT RAILWAY TARIFFS ON STATE ECONOMY

Based on global experience, the article proves the necessity of improving the analysis of regulatory impact of legislative acts, which is the main instrument of state regulation quality assurance. Recent years display the trend of temporal inland traffic freight railway tariffs increase. The last increase was approved by the corresponding Order of the Ministry of Infrastructure of Ukraine dd. August 11, 2021 qualified as a regulatory act, which is subject to compulsory regulatory impact analysis according to the Methodology approved at the national level. The national methodology does not provide for assessment of impacts on state economy. In view of this, the assessment was completed for the possible impact of regulatory act work on the state economy according to the methodological approach developed by the State Organization “Institute of the Economy and Forecasting of the National Academy of Sciences of Ukraine”, which main point is a more comprehensive and sophisticated quantitative assessment of the direct regulatory impact on the field of economic interest of both citizens, economic entities, state, and the society in general (national economy). The impact assessment of the freight railway tariffs’ increase on national economy followed two perspectives: the possible impact on GDP and the competition within the traffic infrastructure of Ukraine. The contribution of JSC “Ukrzaliznytsia” into GDP of Ukraine is computed based on freight railway tariffs increase. The article proves that the Order of the Ministry of Infrastructure of Ukraine will have the effects on intermodal competition within the transport system of Ukraine through the redistribution of the freight traffic as, on the one hand, certain off-grade freights will be handled by the river and motor transport and, on the other hand, specific 3rd rate class freights will be handled by the rail transport. Such redistribution will have positive effects for the competitive position of rail transport on the inner freight traffic market because the loss of some off-grade freights, which transport is unprofitable, will not have a negative impact on rail facilities.

TRANSFORMATION OF THE TOURISM SYSTEM IN THE CONTEXT OF DIGITALIZATION

The tourism system through its multiplication effect can provide the development of the related branches and become the background cause of the positive socio-eco-economic processes. The significant impact on the tourism system made the global COVID-19 pandemic, which incurred a number of downturns in the functioning of this economic sector. The necessity of the solution of the strategic problems in the development of the tourism system determines the necessity of research of transformation changes, which take place in it. The socio-economic transformations in the tourism systems are proved, the essential actions concerning reinforcement of the positive impact and evening-out the negative impact of the external environment in the context of new reality and digitalization are proposed. Based on the analysis of the tourism sector and hospitality sector subjects’ activities trend data as the main components of the tourism system the asymmetries of the development are detected and restricted into three groups: functional, structural, and temporal. The structural and temporal factors of transitivity are shown and its aspects are proved through the progressive and regressive trends of the Ukrainian tourism system development processes. The stages of tourism system evolution are specified (adaptive, knowledge-minded, integrative) and the new one is proved (digital and mobile). The promotion of the innovative dominants in the tourism system of Ukraine as the drivers of the strategical development is proposed. Referred innovative dominants are concentrated towards digital, communicative, partner, ecological, and financial directions. The emphasis is put on the influence of digital changes on the transformation of the tourism system of Ukraine and its individual components. Actualization of the innovative dominants in the tourism system of Ukraine shows global trends of society and corrected by institutional surroundings and domestic mindset entities on the one hand and the building up of the new tourism system development surroundings on the other hand.

MIGRATION MOBILITY OF THE CARPATHIAN REGION YOUTH: PROPOSITION OF IMPROVEMENT OF INFORMATION -ANALYTIC SUPPORT OF REGIONAL MIGRATION POLICY

The development of the new information-driven society along with the penetration of the globalization processes in all social and economic activities became the entities of the liberalization of the migration relations, which simplify in general the youth moving and increase its mobility. Based on statistics and administrative data analysis about youth migration from Carpathian Region it was determined that quick spreading of the positive migration aspirations among the youthful population gets new looms and can lead to the migration deprivation ramp-ups in the Carpathian Region in the future. Mainstreaming of the external migration climate and escalation of the problem are also heavily mandated by the entity of the passive state and regional migration policy, which manifests through immature system of the real complex migration registration, unfinished state of system of the institutional-organizational and institutional-legal regulation of the migration processes at the regional and local levels, low quality and low organizational and technical options of the migration services’ infrastructure elements, insufficient use of the resources of the migration exchange programs in the field of education, science, innovation and research activities, tourism, investment and business projects, the lack of regional programs of the stimulation of the educational and labor migrants’ re-emigration. In the attempt to eliminate gaps in migration policy and minimize the risks and threats of the growth of migration activity of the Carpathian Region youth, the instruments and methods of external migration monitoring system’s improvement, the development of the regional databases of migration structural-dynamic characteristics, the development of migration policy preventive instruments aimed to regulation of the regional labor markets, and the corresponding implementation of the migration services market infrastructure’s development, stimulation of the educational and labor migrants’ re-emigration, improvement of the migration policy institutional support in the Carpathian Region were proposed.

THE FAILURES OF THE STATE REGULATION AT THE LABOR MARKET AND THE POSSIBILITIES OF THEIR MINIMIZATION

International cooperation, the development of the digital economy, and market globalization including the labor market became the reason for the production distribution and the transformation of the sector of employment. The national labor market is under the influence of combined tendencies, which result in diverging effects for its institutional entities. The state meets a number of problems, those restrain the formation of the labor market, which can meet modern economic needs and social challenges. The failures of the state regulation at the labor market are examined and combined into blocks, the main problems of each group (block) are highlighted; their solving will specify the state politics in the sector of employment. The methods of research such as system analysis, comparative analysis, structural-functional analysis, method of statistical aggregation, expert evaluation, etc. are used. The system of failures of state regulation at the labor market is examined. It is structured according to the generalized groups: delayed development and archaic nature of the employment structure, atypicality of labor market adaptation, disequilibrium of the labor market, destruction of social dialogue at the labor market, inequality of incomes, the low level of employment law enforcement. The development entities, manifest particularity, possible negative outcomes, their easing, and the ways out are specified for each group, which characterizes the failures of the state regulation at the labor market. The public policy in the sector of employment, which will form the unique possibility to act in a new way giving the priorities to the new elements, principles, and rules of cooperation at the labor market in the context of uncertainty and perpetual crisis is proposed. The importance of the development of the state regulation strategic course according to the generalized groups, which specifies the manifests of Ukrainian and European labor markets’ divergence is highlighted.

A NOVEL APPROACH TO CHARACTERIZING THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND ENERGY CONSUMPTION

At the macroeconomic level, the consumption of primary energy resources is a deterministic factor of economic development, which justifies the relevance and importance of introducing an appropriate mathematical model. Using the tools of data-driven dynamical systems and Hamiltonian mechanics, we determine the relationship between energy costs and the distance traveled by a particular national economy in the economic space. The basis for the calculations is the time series describing the evolution of a cumulative GDP, recalculated according to the original method from monetary units to linear geometric dimensions, and energy resources consumed over a fixed period of time. The relevance of the mathematic relationships so obtained is verified by comparing the model predictions with the empirical data produced by four national economies, namely those of Canada, Poland, Russia, and Ukraine. In all of the four cases the model demonstrated a nearly perfect fit to the actual data. The approach via approximation the evolutions of economic performance and energy consumption by parabolas proposed in the article lies the groundwork for developing a general theory that may be employed to analyze economic performance of a wide spectrum of national economies and world regions.

ORGANIZATION OF TERRITORIAL DEVELOPMENT PLANNING IN THE CONTEXT OF DECENTRALIZATION OF PUBLIC ADMINISTRATION: COMBINATION OF INTEGRATED, SPATIAL AND ECONOMIC APPROACHES

The complex spatial and economic planning of development of territorial communities on the conditions of their combination which will promote effective management of territories and ensure integrated sustainable development of territories for the future generations is investigated. The peculiarities of the legislation on new provisions of spatial and economic planning of territorial communities are covered, the main approaches to the development of the Comprehensive Spatial Development Plan of the Territory of Territorial Community, the Concept of Integrated Development of the Territorial Community and the Territorial Community Development Strategy are compared. The scheme of connections of elements at formation of the specified Comprehensive Plan, Concept and Strategy is constructed. The legislative level acceptance of the provisions on joint approaches to the formation of key documents of spatial and economic planning of territorial communities, the unity of land management documentation and urban planning documentation at the local level is established. It is shown that the Concept of Integrated Development of the Territorial Community is the basis and a certain “bridge” for combining the principles and indicators in the formation of the Comprehensive Spatial Development Plan of the Territory of Territorial Community and the Territorial Community Development Strategy. The formation of the Concept is proposed to be carried out on the basis of preliminary conceptual and structural modeling of endogenous potential of territorial communities that will establish the features of the existing potential by its elements (natural resources, production and infrastructure, labor, socio-cultural, etc.) that have a place in each community depending on its specific and general characteristics. It is proved that the modeling of the potential of territorial communities is carried out on the basis of establishing, integrating, uniting, combining, interpenetrating of connections and dependencies in the present time and their interpretation (design, transfer) to the appropriate time perspective (five, ten and more years).

NEUTRAL VALUE OF MONEY IN THE PRACTICE OF MONETARY REGULATION

The issue of estimating the level of neutral interest rates is a central issue for theoretical foundation of decision-making on interest rate policy in the practice of central banks. As a result of studying theoretical sources, research materials of international organizations and central banks, the factors of the neutral interest rate are systematized, the methods of its estimation are generalized, their advantages and disadvantages are revealed. Factors of the neutral rate are systematized according to the principle of their influence on the demand or supply of money in the economy. It has been established that there is no single generally accepted theoretical and methodological approach to determining the neutral rate in modern practice. A wide variation of methods with varying degrees of reliance on a theoretical basis (from purely mathematical filtration techniques to complex macroeconomic general equilibrium models) extends a field for new research. It is found that a key issue in neutral rate estimating models is the formalization of the relationship between the effects of external and internal factors, which is especially important for countries with a small open economy. Attention is paid to the method for estimating the neutral rate based on the rule of uncovered interest parity, which is used in the national practice of monetary regulation. Systemic shortcomings of this method are revealed on the basis of research of its theoretical bases and results of practical application in the conditions of the Ukrainian economy. The expediency of introducing into the practice of monetary regulation in Ukraine of alternative methodological toolkit for estimating the neutral rate based on the achievements of T. Laubach and J. Williams with adaptation to the open economy settings is justified, which would enhance the role of domestic factors, in particular changes in potential GDP and savings as important determinants of neutral value of money.

DEVELOPMENT OF THE SOCIAL ECONOMY IN POLAND: EXPERIENCE FOR UKRAINE

The development of the social economy contributes to the well-being of the population, which is one of the main tasks of any state. The existence of certain social problems in Ukraine requires an analysis of foreign practices of implementing social goals to increase living standards. In the context of European integration aspirations, such a state for Ukraine is the neighboring Poland. To address these issues, the positive experience of social economy development and employment in Poland is analyzed and the possibilities of its application in Ukraine are outlined. The practice of social economy in Poland is considered, Ukraine and Poland are compared on particular social indicators (number of social security institutions, unemployment rate, employment rate, average monthly wage, self-employment level), the directions of social development in Poland are outlined with emphasis on their possible application in Ukraine. Taxonomic methods for determining the social development of Poland and changes in the labor market of both countries are considered. The main determinants of the Polish model of social economy are highlighted: stable economic development, which contributes to raising living standards; low unemployment; developed social infrastructure; increase in average wages; developed private social security sector; labor market stability and its ability to adapt to new challenges. A number of problematic issues in the development of the social economy in Ukraine are highlighted, in particular, the low level of wages compared to neighboring European countries; high unemployment; low level of self-employment; high level of shadow economy. Based on the analysis of the positive experience of Poland, a number of possible directions of social economy development in Ukraine are outlined.

FOREIGN CAPITAL INFLOWS IN CENTRAL AND EAST EUROPEAN COUNTRIES

Free cross-border movement of goods and capital correlates with the general economic state of a country in both apparent and subtle ways. The intensity of financial and economic interactions with the outside world is an indicator of the sustainability and efficiency of the national economy. After joining the EU, all Member States liberalized the balance of payments (BoP), i.e. ensured free and unrestricted cross-border movement of goods and capital. For certain countries the liberalization of BoP was a considerable challenge, which they managed to successfully overcome. These were the EU countries of the Council for Mutual Economic Assistance (CMEA) was active among the former socialist countries until 1990, or the so-called "CMEA-EU countries". For an economic comparison to be plausible, it has to be made between the dynamics of comparable economies. Such a group of economies is formed by the CMEA-EU countries. EU membership provided them with the opportunity to use on their own their potential in property, intellect, power and resources. This is the reason why the present study has adopted a comparative analysis based on CMEA-EU countries. An attempt has been made to comprehensively monitor and analytically assess all major financial flows, especially in the CMEA-EU countries, and their impact on economic dynamics. A comparison is made for both the positive and negative aspects of the incoming financial resources in these countries. Particular emphasis is placed on macroeconomic elements and policies that outline, create conditions, and predetermine the scale, interactions and projections of cross-border financial flows.