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C O N T E N T S, No. 9, 2018 
UDC 338.656.502
A N A T O L I I  M A Z A R A K I,
Professor, Doctor of Econ. Sci.,
©  Mazaraki Anatolii, 2018;
 e-mail: rektor@,

L I U D M Y L A  K H A R S U N,
Cand. of Econ. Sci.,
Associate Professor of the Department of 
Trading Business and Logistics
© Kharsun Liudmyla, 2018; 

Kyiv National University of Trade and Economics,
19, Kioto St., Kyiv, 02156, Ukraine

Transformational processes in modern supply chains are experiencing a significant impact of global environmental problems and are focused on increasing the level of efficiency of the supply chains’ operation and ensuring the competitiveness of goods passing through them towards the end consumer. On the one hand, the parameters of all parts of the logistics chains must be in line with the international environmental requirements; on the other hand, compliance with the principles of environmental friendliness serves as a prerequisite for meeting the needs of modern consumers with a high level of environmental awareness.
Logistics operations are a source of negative impacts on the natural environment. First of all, this concerns greenhouse gas emissions during transportation, waste products and packaging materials, noise and dust pollution, landscape changes and the use of natural resources. Therefore, environmental challenges stipulate the cooperation of all participants in supply chains, aimed at creating and implementing the effective environmental strategies and logistics concepts.
The need for ecologization of Ukraine’s transport and logistics system is dictated by the need to achieve a high level of its competitiveness as an element of the global supply chain network. And although the domestic logistics system by a number of indicators is characterized by a low level of environmental friendliness, there is a consoling positive tendency to realize the need for an environmental orientation of its development both among the state authorities, and the logistics operators themselves.
Keywords: ecological logistics; ecological concept of logistic activity; logistic system; supply chain; logistics processes; ecological standards; ecological management (pp. 3–12).
       References 7; Figures 2; Table 1.
1. Marhita N.O., Bilonizhka U.Z. Suchasni tendentsii vprovadzhennya “zelenoi” lohistyky [Modern trends in the implementation of “green” logistics]. Marketyng i menedzhment innovatsii – Marketing and Management of Innovations, 2014, No. 1, pp. 279–285, available at: [in Ukrainian].
2. Cheklov V.F., Cheklova V.M. Peredumovy rozvytku “zelenoi” lohistyky na zaliznychnomu transporti [Prerequisites for the development of “green” logistics in rail transport]. Technology audit and production reserves, 2014, No. 1/3(15), pp. 43–45, available at: [in Ukrainian].
3. Mashchak N.M. Stratehichna uzhodzhenist’ lohistychnoi diyal’nosti pidpryemstva na ekolohichnykh zasadakh [Strategic consistency of enterprise logistics activities on the bases of ecological principles]. Marketyng i menedzhment innovatsii – Marketing and Management of Innovations, 2011, No. 4, Vol. II, pp. 273–282, available at: [in Ukrainian].
4. Smyrnov I. Geoekolohichna orientatsiya upravlinnya lohistykoyu vyrobnycho-servisnykh system [Geoecological orientation of logistics management of production and service systems]. Chasopys sotsial’no-ekonomichnoi heografii – Magazine of socio-economic geography. 2013, No. 2, Vol. 15, pp. 11–16, available at: [in Ukrainian].
5. Brdulak H., Michniewska K. Zielona logistyka, ekologistyka, zrownowazony rozwoj w logistyce. Koncepcje i strategie logistyczne. Logistyka, 2009, No. 4, pp. 8–15 [in Polish].
6. Tutov S. Nelohichna lohistyka Ukrainy [Non-logical logistics of Ukraine], available at: [in Ukrainian].
7. van Marle G. UK shippers could save 30% per box switching from road to rail freight, available at:
The article was received by the Editorial Staff on June 20, 2018.
UDC 330.341.2
V A S Y L    L A H U T I N,
Professor, Doctor of Econ. Sci,
Head of the Department of Economic Theory and Competition Policy
Kyiv National University of Trade and Economics
19, Kioto St., Kyiv, 02156, Ukraine

© Lahutin Vasól, 2018; 

Institutions, organizations, economic mechanisms and instruments of social stability and development and their comprehensive interconnection and complementarity are considered. It is shown that in Ukraine’s economy such a system operates in the presence of a wide range of restrictions and endogenous and exogenous risks. The importance of economic stability as an important and necessary resource for social development is emphasized.
The institutions of stability include: the rule of law, security of property rights, legality and law and order, protection of consumer rights, support for freedom of contract, intellectual property rights and protection of labor rights. Institutions of development are, first of all, development of competition, stimulation of innovations and high technologies, encouragement of business to modernize and re-engineer and security of private investment. 
Analysis of institutions and analysis of mechanisms are combined. The central importance is attached to the content of the relevant economic mechanisms, the actors who bring these mechanisms into action and the motives (incentives) with which these actors are guided in their activities. The main features of the so-called “mechanism of simulation (illusion) of social development”, typical for many developing countries, are revealed. The theoretical and methodological platform for ensuring a high level of social stability and development priority in Ukraine is substantiated.

Keywords: stability; development; institutions; organizations; society; state; economic mechanism. (pp. 13–25)
      References 12; Tables 2.
1. Acemoglu D., Robinson J. Chomu Natsii Zanepadayut’: Pokhodzhennya Vlady, Bahatstva ta Bidnosti [Why Nations Fail: The Origins of Power, Prosperity, and Poverty]. Kyiv, Nash format, 2017 [in Ukrainian].
2. Lucas R. On the mechanics of economic development. Journal of Monetary Economics, 1998, Vîl. 22, No. 1, pp. 3–42.
3. North D. Instituty, Institutsional’nye Izmeneniya i Funktsionirovanie Ekonomiki [Institutions, Institutional Change and Economic Performance]. Moscow, Economic Book Foundation “NAChALA”, 1997 [in Russian].
4. Rodrik D. Industrial policy for the twenty-first century. KSG Faculty Research Working Paper RWP04-047, Harvard University, 2004, available at:
5. Rodrik D. Growth strategies. Harvard University, Kennedy School of Government, September 2003.
6. Stiglitz J. Capital market liberalization, economic growth, and instability. World Development, 2000, Vol. 28, No. 6, pp. 1075–1086.
7. Heyets V.M. Osoblyvosti vzaemozv”yazku ekonomichnykh tà politychnykh transformatsii na shlyakhu do rekonstruktyvnoho rozvytku ekonomiky Ukrainy [Peculiarities of interrelationship of economic and political transformations on the way to reconstructive development of Ukraine’s economy]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 10, pp. 3–17 [in Ukrainian].
8. Grytsenko A.A. Lohiko-istorychni zasady kardynal’nykh ekonomichnykh zmin i perekhodu do rekonstruktyvnoho rozvytku [Logical and historical bases of cardinal economic changes and transition to reconstructive development]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 5-6, pp. 39–57 [in Ukrainian].
9. Eshchenko P.S. Vid depresii do aktyvizatsii zrostannya v ekonomichnii i sotsial’nii sferakh Ukrainy [From depression to activation of growth in economic and social spheres of Ukraine]. Ekonomika Ukrainy – Economy of Ukraine, 2018, No. 2, pp. 3–20 [in Ukrainian].
10. Lypov V.V. Konkurentna stratehiya rozvytku Ukrainy v umovakh globalizatsii [Competitive strategy for Ukraine’s development in globalization conditions]. Ekonomika Ukrainy – Economy of Ukraine, 2018, No. 4, pp. 3–17 [in Ukrainian].
11. Reinert E.S. Yak Bahati Krainy Zabahatily… i Chomu Bidni Krainy Lyshayut’sya Bidnymy [How Rich Countries Got Rich ... and Why Poor Countries Stay Poor]. Kyiv, Tempora, 2014 [in Ukrainian].
12. Detter D., Fölster S. Derzhavne Bahatstvo Narodiv. Yak Upravlinnya Derzhavnymy Aktyvamy Mozhe Posylyty chy Pidirvaty Ekonomichne Zrostannya [The Public Wealth of Nations: How Management of Public Assets Can Boost or Bust Economic Growth]. Lviv, PH of Old Lion, 2017 [in Ukrainian].
The article was received by the Editorial staff on June 20, 2018.
UDC: 339.5 :658.6](477):330.342.23-021.68
T E T Y A N A   M E L N Y K,
Professor, Doctor of Econ. Sci.,
Head of the Department of International Economic Relations
Kyiv National University of Trade and Economics,
19, Kioto St., Kyiv, 02156, Ukraine
© Melnyk Tetyana, 2018;

The tendencies of development of Ukraine’s foreign trade in services in the period of transition to postindustrial society are researched. The share of exports of Ukraine’s services in 2017 amounted to 0.2% of the world exports and 0.1% of the world imports.
The foreign trade in technologically capacious services is analyzed by criterion of science intensity, according to which the Eurostat allocates 4 groups of high-tech services: the highest level of science intensity, science-intensive market services, science-intensive financial services and other science-intensive services. In foreign trade, the share of high-tech services is 42%; the share of exports is 26%. Thus, Ukraine is a net exporter on the world market of high-tech services and has over US$ 1.6 billion positive balance.
Educational services, which belong to the fourth group of science-intensive services, are characterized by competitive advantages. Ukraine has a high coefficient of the population coverage with higher education. The final consumer spending of households for education in 2016 amounted to 1.3% of total expenditures in actual prices. Despite the fact that the price policy of Ukrainian higher education institutions is quite loyal, the number of students who go abroad to study increases every year. According to the CEDOS Center, the number of Ukrainian students studying in foreign universities amounted to 72 thousand in 2016-2017 academic year. According to the State Migration Service data, in 2016, 13,621 people left abroad and only 1,958 people returned. Moreover, highly qualified specialists are leaving, which negatively affects the quality of education. Ukrainian higher education institutions rank in the second half of the list of the international rankings of universities, with 5.6 out of 289.
A study of the level of total per capita expenditures for health care at purchasing power parity showed that in Ukraine this level is 1.8 times lower than the world one, and 2-3.1 times lower comparing with countries of the post-Soviet space. The state and population health care expenditures increase (in 2017, they amounted to 0.02% of GDP), but are not accompanied by an increase in quality of services. No more than 6% of Ukrainians apply for personal health insurance programs. Therefore, it is necessary to develop regulatory and legal standards in the sphere of services, harmonized with international standards. 
Keywords: foreign trade in services; post-industrial era; deindustrialization; balance of foreign trade in services; high-tech services; science-intensive capacity; educational services; medical services (pp. 26–36).
References 5; Figure 1; Tables 3.
1. Shovkun I.A. Vysokotekhnolohichni posluhy u zovnishnii torhivli: svitovyi dosvid ta ukrains’ki realii [High-tech services in the foreign trade: world experience and Ukrainian realities]. Ekonomika Ukrainy – Economy of Ukraine, 2013, No. 9, pp. 47–72 [in Ukrainian]. 
2. Slobodian O., Stadny Ye. Ukrains’ki studenty za kordonom: skil’ky ta chomu? [Ukrainian students abroad: how many and why?]. CEDOS think tank, 2016, available at: [in Ukrainian].
3. Shcherbatenko O. Chemodannyi nastrii. Yakymy e real’ni masshtaby ukrains’koi emigratsii [Suit mood. What are the real scales of Ukrainian emigration]. Ekonomichna Pravda – Economic truth, January 23, 2017, available at: [in Ukrainian].
4. Suhrcke M., McKee M., Sauto Arce R., Tsolova S., Mortensen J. The contribution of health to the economy in the European Union. European Commission, 2005.
5. Health systems, health, wealth and societal well-being. Assessing the case for investing in health systems. J. Figueras, M. McKee (Eds.). Open University Press, 2012.
The article was received by the Editorial staff on June 20, 2018.
UDC 338.2:339.9
I U R I I  U M A N T S I V,
Professor, Doctor of Econ. Sci.,
Professor of the Department of Economic Theory and Competition Policy,
©  Umantsiv Iurii, 2018;
 e-mail: markov8@,

O L E K S A N D R  M I N I A I L O,
Associate Professor, Cand. of Econ. Sci.,
Dean of the Faculty of Economics, Management and Psychology
©  Miniailo Oleksandr, 2018; 

Kyiv National University of Trade and Economics
19, Kioto St., Kyiv, 02156, Ukraine

The effective functioning of the national economy is determined by its ability to respond adequately and flexibly to the challenges that arise at every stage of its development. Under current conditions, the challenges caused by the following factors are especially acute: (i) dynamic advancement of technological development; (ii) strengthening competition in the world markets; (iii) the need to meet constantly growing social needs; (iv) search for new approaches to ensure the effective complementarity of the sustainable development components; (v) strengthening the requirements for balancing the national interests with global development; (vi) the need for a weighted balancing between the permanent emergence of new opportunities and threats in the context of the rapid spread of crisis phenomena.
Globalization transforms the forms and functions of the state. The lessons of global development of the last decades make it possible to identify two interrelated, but at the same time, different directions of transformation directly focusing on this issue. At the beginning of the XXI century the global economy has entered a new era of development, as the contradictions are rapidly intensifying between transnational corporations and the state sovereignty as a form of organization and functioning of society. The deep-seated consequence of globalization is the restriction of regulatory functions of the states. At the same time, the states can no longer adequately protect national economies from imbalances and asymmetric shocks. As a result of liberalization, national governments are losing the opportunity to effectively use a range of macroeconomic instruments. 
The place and role of the state under conditions of modern transformations are conditioned primarily, by the fact that the state is considered as a subject ensuring the organization and functioning of all elements of the socio-economic system. Speaking as a representative of society as a whole, the state itself establishes rules of functioning and market interaction of economic agents within the limits of certain economic order and supervises their observance. The basis for implementing a well-balanced economic policy should be the scientific identification of strategic priorities of economic development and the definition of conceptual approaches and tools on this basis in order to harmonize the interests of society.
 Keywords: the state; economic policy; institutes; regulation; globalization; market (pp. 37–49).
       References 16; Figure 1; Table 1.
1. Acemoglu D., Robinson J. Chomu Natsii Zanepadayut’: Pokhodzhennya Vlady, Bahatstva ta Bidnosti [Why Nations Fail: The Origins of Power, Prosperity, and Poverty]. Kyiv. Nash format, 2017 [in Ukrainian].
2. Artiomova T. Zasady stanovlennya novoi systemy derzhavnoho upravlinnya hospodars’koyu diyal’nistyu [Principles of the formation of the new system of government management of economic activities]. Visnyk Instytutu ekonomiky ta prohnozuvannya – Bulletin of Institute for Economics and Forecasting, 2015, pp. 19–25 [in Ukrainian].
3. Vdovychenko A., Nikolaichuk S. Vzaemodiya fiskal’noi ta monetarnoi polityky v Ukraini: vid dominuvannya do koordynatsii [Interaction of fiscal and monetary policy in Ukraine: from domination to coordination], available at: [in Ukrainian].
4. Heyets V. Novyi pragmatyzm – instrument dosyagnennya krashchoho maibutn’oho [New pragmatism as an instrument to achieve a better future]. Ekonomichna teoriya – Economic Theory, 2017, No. 1, pp. 5–24 [in Ukrainian].
5. Hrytsenko A. Politychna ekonomiya rozdileno-spil’noho svitu: istoriya ta suchasnist’ [Political economy of the divided-common world: history and modernity]. Ekonomichna teoriya – Economic Theory, 2015, No. 3, pp. 14–29 [in Ukrainian].
6. Iefymenko T.I. Rozvytok instytutsiinykh zasad vzaemodii fiskal’noi ta monetarnoi polityk Ukrainy [Development of institutional foundations for interaction between fiscal and monetary policies of Ukraine]. Ekonomika Ukrainy – Economy of Ukraine, 2017, No. 12, pp. 13–33 [in Ukrainian].
7. Zhalilo Ya. Ekonomichne zrostannya: chomu my ioho vtrachaemo? [Economic growth: why do we lose it?],  available at: [in Ukrainian].
8. Kolodko Grzegorz W. Novyi pragmatyzm, abo ekonomika pomirnosti [A new pragmatism or economy of moderation]. Ekonomika Ukrainy – Economy of Ukraine, 2013, No. 11, pp. 13-28 [in Ukrainian].
9. Korablin S.O. Makroekonomichna Dynamika Ukrainy: Pastka Syrovynnykh Rynkiv [Macroeconomic Dynamics of Ukraine: the Trap of Commodity Markets]. Kyiv, Institute for Economics and Forecasting of the NAS of Ukraine, 2017 [in Ukrainian].
10. Kravchuk N.Ya. Dyvergentsiya Global’noho Rozvytku: Suchasna Paradygma Formuvannya Geofinansovoho Prostoru. [The Global Development Divergence: a Modern Paradigm for the Geo-Financial Space Formation]. Kyiv, Znannya, 2012 [in Ukrainian].
11. Coibion O. Information rigidity and the expectations formation process: a simple framework and new facts. American Economic Review, 2015, No. 105, pp. 2644–2678. 
12. Vnutrishnya Torhivlya Ukrainy [Ukraine’s Domestic Trade]. A.A. Mazaraki (Ed.). Kyiv,  KNUTE, 2016 [in Ukrainian].
13. Lahutin V.D. Ekonomichna polityka derzhavy ta efekty ii realizatsii [Economic policy of the state and effects of its realization]. Visnyk Kyivs’koho natsional’noho torhovel’no-ekonomichnoho universytetu – Herald of Kyiv National University of Trade and Economics, 2017, No. 4, pp. 5–21 [in Ukrainian]. 
14. Malyi I.I., Korolyuk T.O. Makrorehulyuvannya Finansovoho Sektoru [Macroeconomic Regulation of the Financial Sector]. Kyiv, KNEU, 2015 [in Ukrainian].
15. Osetskyi V.L. Upravlinnya vlasnistyu yak umova posylennya funktsii derzhavy: instytutsiinyi kontekst [Management property as condition of increasing functions of a state: institutional context]. Naukovyi poglyad: ekonomika ta upravlinnya – Scientific view: economics and management, 2016, No. 1, pp. 61–68 [in Ukrainian].
16. Chukhno A.A., Yukhymenko P.I., Leonenko P.M.  Suchasni Ekonomichni Teorii [Modern Economic Theories].  Kyiv, Znannya, 2007 [in Ukrainian].
The article was received by the Editorial staff on June 20, 2018.
UDC 330.341.2
S E R H I Y  B A Y,
Professor, Doctor of Econ. Sci.,
Head of the Department of Management,
© Bay Serhiy, 2018: 

A N N A  P R I S YA J N Y U K,
Associate Professor, Cand. of Econ. Sci.,
Associate Professor of the Department of Management
© Prisyajnyuk Anna, 2018;

Kyiv National University of Trade and Economics
19, K³oto St., Kyiv, 02156, Ukraine

As an organizational form of economic relations, clusters play a key role in development projects of the regions of Ukraine. Traditionally, industrial, agrarian, tourist, logistic and trade clusters predominate in the general structure of national clusters. However, such a structure is a real indicator of the technological diversity of Ukrainian economy at the level of restrained development. At the same time, high-tech IT clusters of various organizational configurations become guarantors of timely innovative modernization and sustainable economic growth.
There are almost no programs for the development of information technology at the regional level in Ukraine. This significantly limits access of IT clusters to necessary resources, in particular, to financial, intellectual and social capital. This problem is especially acute in the framework of budgetary decentralization, when, taking into account the economic and social inconsistency of the regions to their own self-reproduction, priority of the development of IT clusters and high-tech industries in general is lost.
In the course of the study, the following results and conclusions were drawn: changes in financial and economic nature are substantially related to the macroeconomic level and should be defined in the national policy of clusterization development. It is necessary to: (i) actively implement budget decentralization, which will increase the financial participation of local governments in the development of infrastructure projects of IT clusters; (ii) weaken tax pressure on small and medium-sized IT companies by providing a tax investment loan that involves delaying the payment of income tax for a specified period; (iii) develop a system of guarantees for IT companies involved in projects of public interest, in particular, in attracting external loans for the creation of new infrastructure objects; (iv) use the mechanism of “real custom duty” to recover the cost of investment.
Keywords: clusters; IT clusters; gross regional product; investments; stimulation of clustering; cluster initiatives. (ðð. 50–59)
References 16; Figures 3; Table 1.
1. Heyets V.M. Ekonomika Ukrainy: klyuchovi problemy i perspektyvy [Ukraine’s economy: key problems and prospects]. Ekonomika i prognozuvannya – Economy and forecasting, 2016, No. 1, pp. 7–22 [in Ukrainian].
2. Voinarenko M.P. Klastery v Instytutsiinii Ekonomitsi [Clusters in the Institutional Economy]. Khmelnytskyi, KhNU, Triada-M Ltd., 2011 [in Ukrainian].
3. Mazaraki A.A., Mel’nyk T.M., Yukhymenko V.V., Kostyuchenko V.M., Kudyrko L.P. et al. Innovatsiinyi Potentsial Ukrainy [Innovative Potential of Ukraine]. A.A. Mazaraki (Ed.). Kyiv, KNEU, 2012 [in Ukrainian].
4. Ivanov Yu.B., Pylypenko A.A. Dodatky do monografichnoho doslidzhennya [Annexes to monographic research], available at: [in Ukrainian].
5. Piatnytska G.T. Klasyfikatsiya klasteriv u systemi informatsiinoho zabezpechennya stratehii klasteryzatsii [Classification of clusters in the system of information support of the clustering strategy]. Marketyng i menedzhment innovatsii – Marketing and management of innovations, 2015, No. 4, pp. 187–208 [in Ukrainian].
6. Piatnytska G.T. Naukovo-osvitni klastery: vidmitni kharakterystyky ta peredumovy rozvytku [Scientific-educational clusters: distinctive features and preconditions of development]. Marketyng i menedzhment innovatsii – Marketing and management of innovations, 2016, No. 3, pp. 191–207 [in Ukrainian].
7. Piatnytska G.T., Penyuk V.O. Symbioz klasternoho ta kompetentnisnoho pidkhodiv pry formuvanni ta diagnostytsi kadrovoho potentsialu dlya sfery torhivli [Symbiosis of cluster and competency approaches in the formation and diagnosis of personnel potential for the trade sector]. Efektyvna ekonomika – Effective economy, 2017, No. 6, pp. 8–17 [in Ukrainian].
8. Sokolenko S.I. Suchasnyi ekonomichnyi rozvytok rehionu na osnovi innovatsiinykh promyslovykh klasteriv [Modern economic development of the region on the basis of innovative industrial clusters], available at: [in Ukrainian].
9. Chernyshova R.E. Osvitni klastery: rehional’nyi aspekt formuvannya kadrovoho potentsialu navchal’nykh zakladiv systemy pislyadyplomnoi pedahohichnoi osvity [Education clusters: regional aspect of formation of personnel potential of the educational establishments of the system of in-service teachers training]. Postmetodyka – Postmethodics, 2012, No. 3, pp. 36–45 [in Ukrainian].
10. Fedulova L.I., Nord G.L., Rudenko N.O. Formuvannya Tekhnolohichnykh Klasteriv yak Tochok Zrostannya Ekonomiky Ukrainy [Formation of Technological Clusters as Points of Growth of the Ukrainian Economy]. Mykolaiv, Ilion, 2012 [in Ukrainian].
11. Fedulova L.I. Napryamy rozvytku rehional’nykh innovatsiinykh ekosystem v Ukraini [Directions for regional innovative ecosystems development in Ukraine]. Aktual’ni problemy ekonomiky – Actual problems of the economics, 2016, No. 7, pp. 240–248 [in Ukrainian].
12. Dahmen E. Development Blocks in Industrial Economics, in: Industrial Dynamics: Technological, Organizational and Structural Change in Industrial and Firms. Bo Carlsson (Ed.). Boston, Dordrecht, 1989, pp. 109–121.
13. Soulie D. Filieres de production et integration vertical. Annales des Mines, Janvier 1989, pp. 21–28 [in French].
14. Tolenado J.A. Propjs des filires industrielles. Revue d’Economie Industrielle, 1978, Vol. 6, pp. 149–158 [in French].
15. Ketels Ch. Recent research of competitiveness and clusters: what are the implications for regional policy. Cambridge Journal of Regions, Economy and Society, 2013, Vol. 6 (2), pp. 269–284.
16. Donchenko V. Navishcho potribni mis’ki IT-klastery: oglyad proektiv [Why are urban IT clusters needed: overview of projects], available at: [in Ukrainian].
The article was received by the Editorial staff on June 20, 2018.
UDC 330.65
H A N N A   B L A K Y T A,
Professor, Doctor of Econ. Sci.,
Head of the Department of Economics and Business Finance,
© Blakyta Hanna, 2018;

V I K T O R I ² À   M E L N Y K,
Cand. of Econ. Sci.,
Senior Lecturer of the Department of Economics and Business Finance,
© Melnyk Viktoriia, 2018;

O L E N A   P U R D E N K O,
Cand. of Econ. Sci.,
Associate Professor of the Department of Economics and Business Finance,
© Purdenko Olena, 2018;

Kyiv National University of Trade and Economics
19, K³oto St., Kyiv, 02156, Ukraine

The article is devoted to the definition of the essential characteristics of economic security of private enterprises and its main components; it is proposed to expand the main structural elements of the system of economic security of private enterprises.
The main functional objectives of economic security are: ensuring the high financial efficiency of work, financial stability and independence of private enterprises on a industry scale; ensuring technological independence and achieving the high competitiveness of the technical potential of small business enterprises; achievement of high efficiency of management; achievement of a high level of personnel qualification and its intellectual potential; Minimizing the devastating impact of the results of industrial and economic activity on the state of the environment; qualitative legal protection of all aspects of the activity of private enterprises, etc.
It is proposed to consider the system of economic security of private enterprises as an integral set of subjects and objects of security, an environment that ensures their interaction and purposeful activity in the internal and external environment in relation to countering threats, protection of economic interests and, in general, creation of safe conditions for functioning at the planned level indicators.
Attention is drawn to European experience and standards in the field of business security, but to take into account the fact that private enterprises of Ukraine are forced to operate in more difficult and dangerous conditions than in developed countries, therefore, during the period of the current stage of reforms in the sphere of private entrepreneurship, it is recommended to introduce normative and legal base which would fine-tune the peculiarities of functioning of private enterprises and create favourable conditions for the emergence of the economic crisis in order to create a reserve of strength in the event of unforeseen circumstances, as private enterprises are a significant component of the economic security of the state.
Keywords: private enterprises; private entrepreneurship; economic security; system of economic security (ðð. 60–73).
References 14; Figures 5; Tables 2.
1. Goncharov G.O. Teoretychni ta Praktychni Osnovy Vdoskonalennya Systemy Ekonomichnoi Bezpeky Maloho Pidpryemnytstva v Ukraini [Theoretical and practical bases for improving the system of economic security of small business in Ukraine]. Poltava, Tekhservis, 2014 [in Ukrainian].
2. Bazylyuk Ya.B. et al. Ekonomichna Bezpeka Ukrainy v Umovakh Hibrydnoi Agresii. Analit. dop [Economic Security of Ukraine under Conditions of Hybrid Aggression. Analytical report]. Kyiv, NISS, 2017 [in Ukrainian].
3. Dzhaman M.O., Goncharov G.O. Teoretyko-Metodolohichni Osnovy Formuvannya Systemy Ekonomichnoi Bezpeky Maloho Pidpryemnytstva v Ukraini [Theoretical and Methodological Foundations of the Formation of the System of Economic Security of Small Business in Ukraine]. Poltava, Tekhservis, 2012 [in Ukrainian].
4. Kopytko M.I. Ekonomichna Bezpeka Pidpryemstv z Vyrobnytstva Transportnykh Zasobiv [Economic Security of Enterprises for the Production of Vehicles]. V.G. Al’kem (Ed.). Lviv, Liga-Pres, 2015 [in Ukrainian].
5. Mazaraki A.A., Korol’chuk O.P., Mel’nyk T.M. et al. Ekonomichna Bezpeka Ukrainy v Umovakh Globalizatsiinykh Vyklykiv [Economic Security of Ukraine under Conditions of Globalization Challenges]. A.A. Mazaraki (Ed.). Kyiv, KNUTE PH, 2010 [in Ukrainian].
6. Artemenko L. The system of enterprise economic security: international and Ukrainian content. World Scientific News 57,2016. – ðð. 695–705.
7. Avanesova N., Chuprin Y. Enterprise economic security: essential characteristics of the concept. Innovative technologies and scientific solutions for industries, 2017, No. 1, pp. 98–102.
8. Blakyta H.V., Lanovs’ka H.I. Innovatsiina bezpeka yak nevid”emna skladova ekonomichnoi bezpeky [Innovative security as an integral part of economic security]. Proceedings from Stratehichni priorytety rozvytku vnutrishn’oi torhivli Ukrainy na innovatsiinykh zasadakh. Mizhnar. nauk.-prakt. konf. [Strategic priorities for the development of Ukraine’s domestic trade on an innovative basis. International scientific and practical conference].Lviv, LTEU PH, 2017, pp. 57-58 [in Ukrainian].
9. Bogun  K.V. Rol’ maloho pidpryemnytstva v zabezpechenni ekonomichnoi bezpeky derzhavy [The role of small business in ensuring the economic security of the state], available at: [in Ukrainian].
10. Varnaliy Z.S., Burkal’tseva D.D., Saenko O.S. Ekonomichna Bezpeka Ukrainy: Problemy ta Priorytety Zmitsnennya [Ukraine’s Economic Security: Problems and Priorities for Strengthening]. Kyiv, Znannya Ukrainy, 2011 [in Ukrainian].
11. Ermoshenko M.M., Goryacheva K.S. Finansova Skladova Ekonomichnoi Bezpeky: Derzhava i Pidpryemstvo [Financial Component of Economic Security: the State and Enterprise]. Kyiv, National Academy of Management, 2010 [in Ukrainian].
12. Heyets V.M., Kyzym M.O., Klebanova T.S., Chernyak O.I. et al. Modelyuvannya Ekonomichnoi Bezpeky: Derzhava, Rehion, Pidpryemstvo [Modeling of Economic Security: the State, Region, Enterprise]. V.M. Heyets (Ed.). Kharkiv, PH “INZhEK”, 2006 [in Ukrainian].
13. Tkach V.O. Mekhanizm Formuvannya Ekonomichnoi Bezpeky Krainy [Mechanism of Formation of Economic Security of the Country]. Dnipropetrovsk, PH of DNU, 2010, p. 71 [in Ukrainian].
14. Filyppova S.V. Sotsial’na vidpovidal’nist’ u stratehii upravlinnya vitchyznyanym pidpryemstvom: problemni pytannya integruvannya mekhanizmu [Social responsibility within the strategy of management of a domestic enterprise: problem issues of integration of the mechanism]. Ekonomika: realii chasu – Economics: time realities, 2017, No. 2 (30), pp. 5–17, available at: [in Ukrainian].

The article was received by the Editorial staff on June 20, 2018.
UDC 336.71
S V I T L A N A   V O L O S O V Y C H,
Doctor of Econ. Sci., Professor of the Department of Finance
Kyiv National University of Trade and Economics,
19, Kioto St., Kyiv, 02156, Ukraine
© Âîëîñîâè÷ Ñâ³òëàíà Âàñèë³âíà (Volosovych Svitlana), 2018;

Integration of credit services with innovative technologies has created the basis for expanding the possibilities of attracting the additional financial resources by representatives of small and medium businesses and individuals. This determines the relevance of the selected topic.
The determinants of crowdlending development on the basis of research of its functioning in the system of financial technologies and analysis of international and domestic normative legal acts are substantiated.
Works of domestic and foreign scientists have become the theoretical and methodological basis of the article. The research was conducted using the methods of theoretical generalization, comparative analysis, analysis and synthesis, which allowed justifying directions of development of crowdlending in Ukraine.
Based on the analysis of scientific literature and international normative legal acts, it is proposed to single out operational, activity, subjective and contractual approaches to understanding the crowdlending. It is proposed to consider crowdlending as an activity of Internet platforms for meeting the needs of small and medium-sized businesses and individuals for financial resources at the expense of creditors (investors) on the basis of repayment. The crowdlending platforms carry out organizational, analytical and monitoring functions. The stages of origin, development and application of innovative approaches in crowdlending are analyzed.
Consequently, crowdlending is a component of crowdfunding, the emergence and development of which was facilitated by FinTech. Nowadays, the specifics of crowdlending is (i) the international character of activity, (ii) focus on social, energy-saving and innovative projects, (iii) protection of consumer rights, and (iv) credit risk management. It is necessary to introduce licensing of crowdlending activity in Ukraine. Concerning P2P and P2B lending, it is necessary to establish requirements for disclosure of information by internet platforms regarding the possible risks of providing loans, as well as potential borrowers and the maximum amount of one-time investment or that within a year. It is also important to make appropriate changes to the Tax Code of Ukraine regarding the taxation of income received through the provision of loans through the crowdlending platforms.
  Keywords: crowdlending; crowdfunding; financial technologies; creditors; borrowers; consumer crowdlending; entrepreneurial crowdlending; state regulation (pð. 74–84).
      References 15; Tables 2.
1. Everett C. Origins and development of credit-based crowdfunding, available at:
2. Boitan I.A. Crowdlending and financial inclusion evidence from EU countries, available at:
3. Bofondi M. Questioni di economia e finanza. Il lending-based crowdfunding: opportunitá e rischi, available at: [in Italian].
4. Šetlers G., Valdmanis J. Crowdlending – factors driving investors’ decision-making in Latvia. SSE Riga Student Research Papers, November 2016.
5. Dietrich A., Amrein S., Falk von der Heyde, Heuermann A., Rüdisühli M. Crowdlending Survey2018. Luzern, PwC, 2018, available at:
6. Rusu L. Report on the international experience in the field of legal and regulatory provisions concerning crowdfunding activities, available at:
7. Ivashchenko A.I., Polischuk Ie.A., Dyba O.M. Perspektyvy rozvytku kraudfandyngu v Ukraini yak instrumentu zaluchennya koshtiv dlya pidpryemstv maloho ta seredn’oho biznesu [Prospects for the development of crowdfunding in Ukraine as a tool to raise funds for small and medium business enterprises]. Investytsii: praktyka ta dosvid – Investments: practice and experience, 2016, No. 21, pp. 34–39 [in Ukrainian].
8. Mykhal’chuk L.V., Sypalo O.M. Vitchyznyanyi kraudfanding: problemy ta perspektyvy [Domestic crowdfunding: problems and prospects]. Visnyk Zhytomyrs’koho derzhavnoho tekhnolohichnoho universytetu. Ser.: Ekonomichni nauky – The Journal of Zhytomyr State Technological University. Ser.: Economics, 2015, No, 1 (71), pp. 234–238 [in Ukrainian].
9. Krukhmal O.V., Zaiets O.S. Peer-to-peer kredytuvannya v Ukraini: perspektyvy rozvytku ta vyklyky dlya bankiv [Peer-to-peer lending in Ukraine: perspectives of development and challenges for banks]. Internauka – Internauka, 2017, No. 2 (24), Vol. 2, pp. 93–96 [in Ukrainian].
10. Mazaraki A., Volosovych S. FinTech u systemy suspil’nykh transformatsii [FinTech in the system of social transformations]. Visnyk Kyivs’koho natsional’noho torhovel’no-ekonomichnoho universytetu – Herald of Kyiv National University of Trade and Economics, 2018, No. 2, pp. 5–18 [in Ukrainian].
11. Petrivs’kyi O.O. Perspektyvy rozvytku pirynhovoho kredytuvannya v Ukraini [Prospects for peer lending in Ukraine], available at: [in Ukrainian].
12. Poskriakov F. Crowdlending – swiss regulatory regime – Quo vadis?, available at: .
13. Chen D. A comparative study of online P2P lending in the USA and China. Journal of Internet Banking and Commerce, 2012, Vol. 17, No. 2, available at:
14. Levine R., Loayza N., Beck T. Financial intermediation and growth: causality and causes. Journal of Monetary Economics, 2000, Vol. 46, available at:
15. Vidyakin M. Onovlennya Kompleksnoi programy rozvytku finansovoho sektoru Ukrainy do 2020 roku [Update of the Complex program for the development of the financial sector of Ukraine until 2020], available at: [in Ukrainian].
The article was received by the Editorial staff on June 20, 2018.
UDC 35.082.4
N A T A L I Y A  N O V I K O V A, 
Associate Professor, Doctor of Econ. Sci.,
Head of the Department of Public Management and Administration,
© Novikova Nataliya, 2018; 

R A I S A   N A U M E N K O,
Professor, Doctor of Science in Public Administration,
Professor of the Department of Public Management and Administration,
© Naumenko  Raisa, 2018;

A N A S T A S I Y A   I L I N A,
Cand. of Econ. Sci.,
Senior Lecturer of the Department of Public Management and Administration 
© Ilina Anastasiya, 2018; 

Kyiv National University of Trade and Economics,
19, Kyoto St., Kyiv, 02156, Ukraine

The authors determined indicators of professional competence of civil servants under conditions of reforming the system of public administration. Scientific approaches to interpretation of the concepts of “governance” and “public administration” are generalized and the relationship of these terms is analyzed. The main markers of professional competence of civil servants in the public sphere are being considered. The results of the study found that a significant proportion of civil servants for various reasons does not deal with the systematic development of their professional resource, which is based on creativity. At the same time, a high level of tension in professional activity, specific difficulties in the public service system cause problems in personal and professional development of civil servants, complicating the process of disclosing this potential and, accordingly, obtaining a higher level of competence for the pursuit of professional activity.
Among the effective areas of training of civil servants and raising their professional competence, the authors highlight (i) the development and justification of new criteria for evaluating the qualities, efficiency and effectiveness of management personnel in the field of civil service, (ii) stimulation of professional growth in the process of annual evaluation, and (iii) participation in open competitions. Accordingly, the development of further research is determined by the possibility of improving the theoretical and methodological foundations of studying the markers of professional competence of civil servants as applied aspects of the harmonization of the process of their professionalization taking into account the modern requirements of the new model of public administration.
      Keywords: managerial staff; civil servants; markers of professional competence; governance; public administration; indicators of professional competence (ðð. 85–98).
     References 21; Figure 1; Tables 2.
1. Osborne D., Gaebler T. Reinventing Government. How the Entrepreneurial Spirit is Transforming the Public Sector. New York, Addison-Wesley, 1992. 
2. Soloviov V.M. Novyi derzhavnyi menedzhment: vyznachennya, sutnist’, heneza ponyattya [Public management: the terms’ definition, essence and genesis]. Visnyk KNU im. Tarasa Shevchenka. Ser.: Derzhavne upravlinnya – Bulletin of Taras Shevchenko National University of Kyiv. Ser.: Public Administration, 2014, Iss. 1 (1), pp. 80–83 [in Ukrainian].
3. Atamanchuk G.V. Sushchnost’ Gosudarstvennoi Sluzhby: Istoriya, Teoriya, Zakon, Praktika [The Essence of Public Service: History, Theory, Law, Practice]. Moscow, PH RAGS, 2008 [in Russian].
4. Bakumenko V.D., Chervyakova O.V. Transformatsiini tendentsii derzhavnoho upravlinnya v umovakh suspil’nykh zmin [Transformational tendencies of the state management under conditions of social changes]. Naukovi rozvidky z derzhavnoho i munitsypal’noho upravlinnya – Scientific bulletin on public and municipal administration, 2012, Iss. 2, pp. 7–16 [in Ukrainian].
5. Naumenko R.A., Gogina L.M., Bakumenko V.D. et al. Derzhavna Sluzhba v Ukraini: Aktual’ni Problemy ta Shlyakhy Modernizatsii [Civil Service in Ukraine: Current Problems and Ways of Modernization]. Kyiv, NAPA, 2010 [in Ukrainian].
6. Gogina L.M. Kompetentnisnyi pidkhid u profesiinomu navchanni derzhavno-upravlins’kykh kadriv: aktual’nist’, peredumovy ta problemy vprovadzhennya [Competency approach in vocational training of public management personnel: relevance, preconditions and implementation problems]. Analityka i vlada  – Analytics and powers, 2010, No. 2, pp. 45–55 [in Ukrainian]. 
7. Pashko L.A. Aktualizatsiya Lyuds’koho Faktora v Sferi Derzhavnoho Upravlinnya yak Zaporuka Rezul’tatyvnosti Vzaemodii v Formati “Derzhava – Gromadyans’ke Suspil’stvo”, v: Gromads’ki Organizatsii ta Organy Derzhavnoho Upravlinnya: Pytannya Vzaemodii [Actualization of the Human Factor in the Field of Public Administration as a Guarantee of the Effectiveness of Interaction in the Format “State – Civil Society”, in: NGOs and Government Bodies: Interaction Issues]. N.P. Nyzhnyk, V.M. Oluiko (Eds.). Cherkasy, PH Chabanenko, 2009 [in Ukrainian].
8. Honcharuk N.T. Motyvatsiya i otsinka kerivnoho personalu v sferi derzhavnoi sluzhby [Motivation and evaluation of management personnel in the field of civil service]. Aktual’ni problemy derzhavnoho upravlinnya – Actual problems of public administration, Dnipropetrovsk, DRIPA of NAPA, 2007. Iss. 1 (27), pp. 250–256 [in Ukrainian].
9. Luhovyi V. Shlyakhy Udoskonalennya Personalu Derzhavnoi Sluzhby (Analiz Vitchyznyanoho ta Zarubizhnoho Dosvidu) [Ways of Improvement of Civil Service Personnel (Analysis of Domestic and Foreign Experience)]. Kyiv, PH of UAPA, 1999 [in Ukrainian].
10. Mudryk A.B. Profesiina kompetentnist’ derzhavnykh sluzhbovtsiv: teoretyko-empirychnyi analiz fenomena [Professional competence of civil servants: theoretical-empirical analysis of the phenomenon], available at: [in Ukrainian].
11. Naumenko R.A., Tymtsunyk V.I. Profesiina kompetentnist’ derzhavnykh sluzhbovtsiv u konteksti reform v Ukraini [Professional competence of civil servants in the context of reforms in Ukraine]. Teoriya ta praktyka derzhavnoho upravlinnya y mistsevoho samovryaduvannya: elektronnyi zb. nauk. prats’ – Theory and Practice of Public Administration and Local Self-Government: electronic coll. of scientific works. 2015, No. 2, pp. 7–22 [in Ukrainian].
12. Naumenko R.A., Gogina L.M., Serov O.V., Todosova G.I. Tvorcha Samorealizatsiya Osobystosti Derzhavnoho Sluzhbovtsya: Stan i Problemy Zabezpechennya [Creative Self-Realization of the Personality of a Civil Servant: State and Problems of Provision]. Kyiv, NAPA, 2012 [in Ukrainian].
13. Nyzhnyk N.R., Tsvetkov V.V., Lelikov G.I. et al. Derzhavnyi Sluzhbovets’ v Ukraini: Poshuk Modeli [Civil Servant in Ukraine: Search for the Model]. N.R. Nyzhnyk (Ed.). Kyiv, PH “INYuR”, 1998 [in Ukrainian].
14. Nyzhnyk N., Pashko L. Upravlinets’ XXI Stolittya: Organizator chy Terminator? [Manager of the 21st century: organizer or terminator?]. Sotsial’na psykholohiya – Social Psychology, 2005, No. 5 (13), pp. 28–37 [in Ukrainian].
15. Obolens’kyi O.Yu. Pryntsyp profesionalizmu v derzhavniø sluzhbi [Principle of professionalism in civil service]. Visnyk derzhavnoi sluzhby Ukrainy – Bulletin of the Civil Service of Ukraine, 1998, No. 1, pp. 54–61 [in Ukrainian].
16. Prudyus L. Akmeolohichni pidkhody do pidvyshchennya profesiinoho rivnya derzhavnykh sluzhbovtsiv: teoretyko-metodolohichnyø aspekt [Akmeological approaches to raising the professional level of civil servants: the theoretical and methodological aspect]. Visnyk derzhavnoi sluzhby Ukrainy – Bulletin of the Civil Service of Ukraine, 2008, No. 3, pp. 26–28 [in Ukrainian].
17. Tertychka V. Pidhotovka vyshchykh derzhavnykh sluzhbovtsiv: yak upravlyaty po-novomu [Training of senior civil servants: how to manage in a new way]. Proceedings from Aktual’nye problemy gosudarstvennogo upravleniya na sovremennom etape sozdaniya gosudarstva. VII Vseukr. nauch.-praktich. konf. Lutsk, 2013 [Actual problems of public administration at the present stage of state creation. VII All-Ukrainian scientific and practical conference. Lutsk, 2013], pp. 122–126 [in Ukrainian].
18. Becking K., Hopman N. Excellent Public Leadership: 7 Competencies for Europe. London, Sdu Uitgevers, 2005, pp. 10–31.
19. Bovaird T. Public Management and Governance. T. Bovaird, E. Loffler (Eds). Second edition. London and New York, Routledge Taylor & Francis Group, 2009.
20. Kovbasyuk Yu.V., Voitovych R.V., Teleshun S.O. Profili Profesiinoi Kompetentnosti Posadovykh Osib Orhaniv Derzhavnoi Vlady [Profiles of Professional Competence of Officials of Public Authorities]. Yu.V. Kovbasyuk, R.V. Voitovych (Eds.). Kyiv, NAPA, 2015 [in Ukrainian].
21. Publichne Upravlinnya ta Administruvannya v Umovakh Informatsiinoho Suspil’stva: Vitchyznyanyi i Zarubizhnyi Dosvid [Public Management and Administration under Conditions of the Information Society: Domestic and Foreign Experience]. S. Chernov et al (Eds.). Zaporizhzhya, ZSEA, 2016 [in Ukrainian].
The article was received by the Editorial staff on June 20, 2018.
UDC 338.242
N A T A L I Y A  D Y E Y E V A,
Professor, Doctor of Econ. Sci.,
Professor of the Department of Management,
© Dyeyeva Nataliya, 2018; 

V I K T O R I A  K H M U R O V A,
Associate Professor, Cand. of Econ. Sci.,
Associate Professor of the Department of Management
© Khmurova Viktoria, 2018;

Kyiv National University of Trade and Economics,
19, Kyoto St., Kyiv, 02156, Ukraine

Public-private partnership aimed at implementation of socially important projects with the involvement of private business resources is a promising and mutually beneficial way of cooperation between state and municipal governments with the private sector. To assess the opportunities and threats of ongoing projects, it is necessary to determine the interests of stakeholders, significance of their contribution, risks, and to develop a mechanism for coordinating the stakeholders’ interests.
The article clarifies the possibility of coordinating the interests of stakeholders on the basis of analysis of successful practices and directions for minimizing the risks of implementing a public-private partnership, and identifies and classifies the key stakeholders in the partnership. 
A dialectical method of analysis and synthesis, general methods of formal logic (analysis and synthesis, deduction and induction, analogy, comparison, etc.) were used in the course of the research. A systematic approach was used to generalize models.
Analysis of subjects and objects of public-private partnership in various countries is carried out. The main directions of partnership are highlighted. Forms and models of public-private partnership are classified and characterized. Recommendations on choosing the most advantageous form and model of partnership for project implementation are provided. It is proposed to use the theory of stakeholders to choose the trajectory of development of public-private partnership and to classify the interested persons depending on the possibilities of their mutual influence.
The implementation of public-private partnership projects depends on: (i) their thorough preparation; (ii) identification of stakeholder groups, assessing their significance in the project and forecasting their interest in project implementation; (iii) formation of a risk profile; (iv) development of contract models and mechanisms for constructive dialogue; (v) state and municipal support instruments; (vi) efficient use of private business potential.

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