UDC 330.001.7+32.001.7] – 042.5/8:330.34(477)
V. M. H E Y E T S,
Professor, Doctor of Econ. Sci.,
Academician of the NAS of Ukraine,
Director of the Institute for Economics and Forecasting of the NAS of Ukraine,
Editor-in-Chief of the “Economy of Ukraine” Journal
© Heyets Valerii Mykhailovych, 2017;
PECULIARITIES OF INTERRELATIONSHIP OF ECONOMIC AND POLITICAL TRANSFORMATIONS ON THE WAY TO RECONSTRUCTIVE DEVELOPMENT OF UKRAINE’S ECONOMY
Part I. From cosmopolitan universalism to the evolutionary-institutional interpretation of economic development
The article is devoted to issues of transformational changes necessary in the sphere of economy and politics and overcoming the political cycle in economic policy along this path, taking into account processes of decentralization and strengthening the role of national states in ensuring the protection of social and economic interests under conditions of the forming a new social reality of a person-centric nature with new economic relations. The key point should be raising the social capital to a new level on the basis of development of human personality, which in political and economic sense should be able to bring the country and its economy on the path of development.
The main task of our state is to ensure the implementation of a policy aimed at forming such a level of competitiveness of the national economy, which would allow, under conditions of a new transformational nature of globalization economic processes, to be a worthy subject in the system of international and inter-economy relations and to be able to protect national interests, comprehensively focusing on the policy of avoiding the threatening debts. The latter deepens social stratification and occurs under pressure of modern world financial architecture, as a result of using (among others) the financial innovations that bring higher incomes and thereby limiting investment in the real sector and curbing the pace of economic growth. Under such conditions, respectively, degree of dependence of the national state on international creditors increases. This is the result of global domination of cosmopolitan universalism, the overcoming of which, in our opinion, is linked to development of evolutionary-institutional approaches in economic policy. Implementation of this policy implies a significant increase in responsibility of national governments, which, in turn, actualizes ideology of historicism, including that in economic theory. Development of historical and logical foundations of market relations in Ukraine is associated with the name of the world-renowned scientist-economist M. Tugan-Baranovsky; that confirms the presence of certain historical traditions in Ukrainian economic science, which give grounds for finding the ways to succeed in modern conditions.
Keywords: system transformations, political cycle, social capital, human personality, demonopolization, market fundamentalism, network systems, corporate interests, national interests, evolutionary-institutional approach, democratic capitalism (pp. 3-17).
1. Heyets V.M. Osoblyvosti vzaemozv’yazku ekonomichnykh ta politychnykh peredumov rekonstruktyvnoho rozvytku ekonomiky Ukrainy [Peculiarities of the interrelation of economic and political preconditions of a reconstructive development of Ukraine’s economy]. Ekonomika Ukrainy – Economy of Ukraine, 2016, No. 12, pp. 3–21 [in Ukrainian].
2. Heyets V.M. Dovira i rozvytok v ukrains’kykh realiyak [Trust and development in Ukrainian realities]. Proceedings from: Tvorennya prostoru suspil’noi doviry v Ukraini XXI storichchya. Mizhnar. nauk.-prakt. konf. Lviv, 17–19 lyutoho 2016 [Creation of a space of public trust in Ukraine in the 21st century. Int. Sci. and practical conference. Lviv, February 17–19, 2016]. Lviv, SHEI “University of Banking”, 2016, pp. 15–31 [in Ukrainian].
3. Artomova T.I., Gritsenko A.A., Krichevskaya T.A. et al. Ierarkhiya i Seti v Institutsional’noi Arkhitektonike Ekonomicheskikh Sistem [Hierarchy and Networks in the Institutional Architectonics of Economic Systems]. A.A. Gritsenko (Ed.). Kyiv, Institute for Economics and Forecasting of the NAS of Ukraine, 2013 [in Russian].
4. Mason P. Postkapitalizm: Putevoditel’ po Nashemu Budushchemu [Postcapitalism: A Guide to our Future]. Moscow, AdMarginem, 2016 [in Russian].
5. Stiglitz J.E. Globalization and its Discontents. N.Y., W.W. Norton, 2012.
6. List F. Natsional’naya Sistema Politicheskoi Ekonomii [The National System of Political Economy]. K.V. Trubnikov (Ed.). Moscow, Evropa, 2005 [in Russian].
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8. Faux J. Torhovel’na polityka SShA – chas pochaty spochatku [U.S. trade policy – time to start over]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 5-6, pp. 16–30 [in Ukrainian].
9. Mekhanik A. “Inoe” vse-taki dano [“Other” is still given]. Ekspert – Expert, 2017, No. 7 (1017), pp. 39–40 [in Russian].
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11. Tugan-Baranovskii M.I. Ocherki iz Noveishei Istorii Politicheskoi Ekonomii i Sotsializma, t.1, v: Izbrannye Sochineniya v 2 t. [Essays from the Modern History of Political Economy and Socialism, Vol. 1, in: Selected Works, in 2 volumes]. L.I. Dmitrichenko (Ed.). Donetsk, Donetsk SUET, 2004 [in Russian].
12. Heyets V.M., Nebrat V.V., Suprun N.A., Tarasevych V.M. et al. Tuhan-Baranovs’kyi M.I. – Vchenyi, Gromadyanyn, Derzhavotvorets’ [Tugan-Baranovsky M.I. – Scientist, Citizen, Statesman]. Kyiv, Naukova dumka, 2015 [in Ukrainian].
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16. Ricceri M. Kak spasti sotsial’nost' rynochnoi ekonomiki [How to save the sociality of a market economy]. Mir peremen – The world of changes, 2017, No. 1, pp. 124–138 [in Russian].
17. Heyets V.M. Liberal’no-demokratychni zasady: kurs na modernizatsiyu Ukrainy [Liberal-democratic principles: course to a modernization of Ukraine]. Ekonomika Ukrainy – Economy of Ukraine, 2010, No. 3, pp. 4–20 [in Ukrainian].
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GOVERNING THE ECONOMY: THEORY AND PRACTICE
Î. ². A M O S H A,
Professor, Doctor of Econ. Sci.,
Academician of the NAS of Ukraine,
© Amosha Îleksandr Ivanovóch, 2017;
D. Yu. C H E R E V A T S K Y I,
Cand. of Techn. Sci., Senior Researcher,
Head of Department for Problems of Perspective Development of Fuel and Energy Complex,
© Cherevatskyi Danylo Yuriiovych, 2017;
I. P. P E T R O V A,
Cand. of Econ. Sci.,
Researcher of the Department of Regulatory Policy
and Entrepreneurship Development Problems
© Petrova Iryna Pavlivna, 2017;
Institute of Industrial Economics of the NAS of Ukraine
CONCERNING THE CLASSIFICATION OF PUBLIC-PRIVATE PARTNERSHIP IN THE SPHERE OF COAL MINING
The continued existence of state-owned mines is not possible without involvement of private investment. In this regard, the most promising is corporate development of the mine field, which is a form of cooperation between a private company, which has a license for its own area within the mine field of a state mine and using its own equipment for production of coal, and a state enterprise (mine) that provides the firm for a fee with technological services for lifting, transport, ventilation, dewatering, energy supply, etc. Scientific discussion concerning the interpretations of this phenomenon, in particular around the nature of corporate development of the mine field as a form of public-private partnership, and presence of opposite considerations has revealed the expediency to develop a method for classifying the models of interaction between coal mining subjects with various forms of ownership. Therefore, the purpose of the article is to improve classification of the state-private (public-private) partnerships in the extractive industries. To summarize the various forms of public-private partnership, an approach based on trigrams containing the features of “ownership – financing – management” has been used in the work. Two trigrams corresponding to the position of two subjects (private and state) form a hexagram. The matrix of hexagrams contains all possible variants of models of public-private partnership.
It is proved that corporate development of the mine field, which is the most relevant in terms of development of mines in public sector, is not a form of public-private partnership; however it can be realized as such through the model of industrial park created under concession agreement between the Ministry of Energy and Coal Industry of Ukraine and private company managing the industrial park.
Keywords: private company, state mine, public-private partnership, joint activity, corporate development of the mine field, form, industrial park (pp. 18–30).
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4. Cherevatskyi D.Yu., Fokina I.V. Pro mozhlyvist’ vidnesennya spil’noi rozrobky vuhil’nykh rodovyshch do derzhavno-pryvatnoho partnerstva [On the possibility of attributing the joint development of coal deposits to public-private partnership]. Ugol’ Ukrainy – Coal of Ukraine, 2016, No. 4-5, pp. 19–22 [in Ukrainian].
5. Zaloznova Yu.S., Petrova I.P. Shchodo korporatyvnoi rozrobky shakhtnoho polya yak formy derzhavno-pryvatnoho partnerstva [Corporate development of the mine field as a form of public-private partnership]. Skhidna Evropa: ekonomika, biznes ta upravlinnya – Eastern Europe: economics, business and management, 2017, Iss. 7, pp. 30–34, available at: http://easterneurope-ebm.in.ua/journal/7_2017/07.pdf [in Ukrainian].
6. Filatov Yu.V., Naumov Yu.A., Leshchinskii A.A., Cherevatskii D.Yu. Opyt korporativnoi razrabotki shakhtnogo polya [Experience in corporate development of the mine field]. Ugol’ Ukrainy – Coal of Ukraine, 2000, No. 11, pp. 25–28 [in Russian].
7. Amosha A.I., Zaloznova Yu.S., Cherevatskii D.Yu. Ugol’naya Promyshlennost’ i Gibridnaya Ekonomika [Coal Industry and Hybrid Economy]. Kyiv, Institute of Industrial Economics of the NAS of Ukraine, 2017 [in Russian].
8. Deryabina M. Gosudarstvenno-chastnoe partnerstvo: teoriya i praktika [Public-private partnership: theory and practice]. Voprosy Ekonomiki – Issues of economy, 2008, No. 8, pp. 61–77 [in Russian].
9. Cherevatskii D.Yu. Instituty Partnerstva v Trigrammakh “Sobstvennost’–Investitsii–Proizvodstvo”, v: Formuvannya Rynkovoi Ekonomiky. Spets. vyp. : Problemy Suchasnoi Ekonomiky ta Instytutsional’na Teoriya [Institutions of Partnership in Trigrams “Ownership-Investments-Production”, in: Formation of a Market Economy. Special edition: Problems of Modern Economy and Institutional Theory]. Kyiv, KNEU, 2010, pp. 136–147 [in Russian].
10. Shutskii Yu.K. Kitaiskaya Klassicheskaya Kniga Peremen. Itszin [Chinese Classical Book of Changes. Yi Jing]. Moscow, Russian book publishing partnership, 1993 [in Russian].
11. Tarash L.I., Petrova I.P. Uzahal’nennya praktyky vykorystannya form derzhavno-pryvatnoho partnerstva [Generalization of practice of the use of forms of public-private partnership]. Visnyk Ekonomichnoi Nauky Ukrainy – Ukrainian Economic Science Herald, 2015, No. 2 (29), pp. 97–103 [in Ukrainian].
FINANCES. TAXES. CREDIT
UDC 336.71: 330.354
M. I. Z V E R Y A K O V,
Professor, Doctor of Econ. Sci.,
Corresponding Member of the NAS of Ukraine,
L. V. Z H E R D E T S’ K A,
Associate Professor, Cand. of Econ. Sci.,
Associate Professor of the Department of Banking
Odesa National Economic University
© Zveryakov Mykhailo Ivanovych, 2017;
© Zherdets’ka Liliya Viktorivna, 2017;
BANKING AND REAL SECTORS OF UKRAINE'S ECONOMY: ASSESSMENT OF RELATIONSHIPS AND THE DEVELOPMENT DETERMINANT
Causal relationships between level of economic growth and development of banking system of Ukraine over the period 1995–2016 were estimated. It is substantiated the feasibility of using the index of industrial production to assess growth of the economy and dynamics of the net assets of the banking system to assess its development. Testing was carried out using the Granger method with a time lag of 1 month, 2 months, 3 months, 6 months and 1 year. Results of empirical studies are appeared to be sensitive to stage of the economic cycle: during periods of instability, economic dynamics determine development of the banking system, whereas in phase of recovery and growth of banks' assets, economic dynamics positively affects index of industrial production. Thus, the demand-following hypothesis is confirmed over the period 2006–2016 and October 2008 – January 2017; the supply-leading hypothesis has been proven over the period January 2006 – September 2008. These results are explained, firstly, by significant number of banking, financial and economic crises that have taken place in Ukraine since independence, and, secondly, by institutional factors of economic growth. Given the above, level of economic growth in Ukraine today remains unstable and causes negative dynamics of the banking sector.
Keywords: economic growth, banks, real sector of Ukraine’s economy, Granger test, demand-following hypothesis, supply-leading hypothesis
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PROBLEMS OF PUBLIC ADMINISTRATION
M. P. B U T K O,
Professor, Doctor of Econ. Sci.,
Head of the Department of Management and Public Administration
Chernihiv National University of Technology
© Butko Mykola Petrovych, 2017;
BIFURCATION STATE OF UKRAINE’S STATE-BUILDING CORE UNDER CONDITIONS OF IMPLEMENTATION OF THE EUROPEAN INTEGRATION COURSE
The European vector of state-building modernization in Ukraine distinguishes three of its pillars: state authorities, local governments and institutes of civil society. Administrative reform proclaimed by President of Ukraine is designed to change the old organization of power and lay the foundation for consolidating the European ex-perience of effective functioning of public authority, primarily at a basic level.
Mechanism of functioning of the regions of Ukraine under conditions of decen-tralization should be built taking into account the fact that this is part of the national space, where full cycles of reproduction of human resources, fixed and circulating assets and part of national wealth are carried out.
The main factors that will contribute to achievement of the established goals in the system of regional governance are: developed regulatory and legal framework concerning the municipal ownership relations, disposal of land and other natural re-sources and strong decentralization of power.
A characteristic condition for implementation of the established directions for modernization of the regional power system is to harmonize not only national and subnational interests, but also taking into account subregional peculiarities, which were previously not observed by the executive power and were only ascertained by local power. Regional interests are an objectively existing phenomenon, regardless of the degree of their awareness. Interests of territorial communities are not just a condition and a motivation for development of the economy, but specifically the part that defines the entire territorial organization of society.
Meanwhile, the combination of state, regional and local interests should not al-low an aggravation of contradictions between them. From these positions, manage-ment of regional economic systems should be aimed at strengthening the common economic space, territorial integrity and national security of the country.
Keywords: bifurcation, territorial community, powers, institutional environment, development strategy, economic space, regional governance, integration (pp. 49–64).
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8. Heyets V.M. Osobennosti vzaimosvyazi ekonomicheskikh i politicheskikh predposylok rekonstruktivnovo razvitiya ekonomiky Ukrainy [Peculiarities of the in-terrelation of economic and political preconditions of a reconstructive development of Ukraine’s economy]. Ekonomika Ukrainy – Economy of Ukraine, 2016, No. 12, pp. 3–21 [in Russian].
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11. Vlasyuk O.S. Sotsial’no-ekonomichnyi rozvytok rehioniv Ukrainy v umovakh detsentralizatsii vlady: vyklyky, zagrozy, novi mekhanizmy [Socio-economic devel-opment of Ukraine’s regions in terms of power decentralization: challenges, threats, new mechanisms]. Rehional’na ekonomika – Regional Economy, 2016, No. 3, pp. 5–9 [in Ukrainian].
12. Kravtsiv V.S., Storonyanskaya I.Z., Zhuk P.V. Reformirovanie territorial’noi osnovy mestnogo samoupravleniya v kontekste ego finansovoi sosmoyatel’nosti [Reforming of territorial basis of local governance in terms of its financial capacity]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 1, pp. 41–51 [in Russian].
S. I. H R E C H A N A,
Associate Professor, Cand. of Econ. Sci., Senior Researcher,
© Hrechana Svitlana Ivanivna, 2017;
Yu. S. R O H O Z I A N,
Cand. of Econ. Sci., Deputy Head of Department
of Interregional Cooperation Problems
© Rohozian Yuliia Serhiivna, 2017;
Institute of Economic and Legal Research of the NAS of Ukraine
CARTOGRAPHIC METHOD TO ENSURE DEVELOPMENT AND COOPERATION OF UNITED TERRITORIAL COMMUNITIES
Decentralization reform and dynamics of legislative changes dictate an important task for modern Ukraine – to ensure development of united territorial communities for the overall social transformation of the country.
Undoubtedly, one of the criteria for assessing the welfare of the regions’ population is the state of regions’ infrastructural branches, which at the present stage of development of the whole national economy can hardly be described as satisfactory one. That is why it is proved in the article the necessity to analyze the infrastructure objects affected by military actions in Luhansk and Donetsk regions; to do so, the cartographic method of research (both at the level of the region and the united territorial communities, and at the level of individual districts and cities) was chosen.
It is also substantiated the expediency of selecting the objects by three components of infrastructure: production, transport and information ones. To analyze the components, an appropriate methodology (based on ranking of the quantitative indicators of the infrastructure system of territorial communities of Luhansk region, consolidated for the sake of visibility into territories of districts and cities) has been developed. According to the methodology, quantitative calculations of existing objects for each type of infrastructure of the region have been performed, the corresponding scores have been assigned and ranking of indicators have been performed. The map of the cooperation infrastructure of territorial communities has been constructed on the example of Luhansk region, which demonstrates the structural correlation of the main elements of infrastructure in each administrative-territorial unit of the region. According to the results, a grouping of territorial communities has been carried out by the degree of infrastructure development, and the most successful districts and outsiders of the region are singled out.
It is pointed out an insufficient infrastructure capacity remaining on the territory of Lugansk region under control of Ukrainian authorities. It is proposed to use the deepening of decentralization processes to overcome existing problems, and the results of the activity of newly formed united territorial communities to use as an incentive for further modernization of the infrastructure of the whole region .
Keywords: cartographic method, united territorial communities, development, cooperation of territorial communities, production infrastructure, transport infrastructure, information infrastructure, methodology (pp.65-73).
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ECONOMY OF FOREIGN COUNTRIES
V. P. K U D R Y A S H O V,
Professor, Doctor of Econ. Sci.,
Head of Department of Public Finances,
Financial Research Institute “Academy of Financial Management”
© Kudryashov Vasyl’ Pavlovych, 2017;
POLICY OF PUBLIC EXPENDITURES IN THE EU IN POST-CRISIS PERIOD
Changes in the policy of public expenditures in the EU, carried out to overcome imbalance in fiscal area and maintain economic growth and financial stability in the post-crisis period, are analyzed. Various theoretical approaches to solve such prob-lems are considered, ranging from an increase in government spending based on the use of budget deficit mechanisms to applying the budgetary savings measures. It is noted that fiscal adjustments are aimed at solving the fiscal consolidation tasks, and expenditure policy plays a leading role in its implementation. Application of austerity measures has significant negative impacts on development of the economy and monetary system, which necessitates changes in their neutralization. It is concluded that the policy of public expenditures should be directed not only to fiscal adjust-ment, but also to maintain economic growth and financial stability. Such tasks are solved by introducing the changes to the volumes of the expenditure part of the pub-lic administration sector, as well as to their structure. Categories of expenditures used in the EU are determined in order to have a positive impact on indicators of economic dynamics. The implementation of such approaches in the EU in the post-crisis period, taking into account the influence of institutional factors, was analyzed. Their positive results, as well as problems supposed to be solved, are highlighted. It is concluded that the experience of making changes to the policy of state expenditures in the EU is gaining importance when conducting the fiscal policy in Ukraine in view of the need to continue fiscal consolidation, as well as to maintain economic growth, stabilize financial situation and increase real incomes of population.
Keywords: fiscal policy, expenditure policy, income policy, fiscal consolidation, fiscal adjustment, rigorous savings (ðð. 74–90).
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