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REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Foreign Experience

BUSINESS INFORM №4-2015

Geyer E. S., Shtyk Y. V.
Systems of Rewards for Employees: Foreign Experience (p. 52 - 57)
The article is aimed to develop proposals for improving the system of rewards for employees at the enterprises of Ukraine on the basis of the carried out analysis of approaches to establishing systems of rewards in foreign countries. Analysis, systematization and generalization of scientific works of foreign scientists were conducted, approaches: american, european, and japanese – to establishing systems of rewards for employees depending on motivation were considered. A characteristic of foreign approaches has been presented. In the absence of a uniform approach to establishing systems of rewards for employees at the enterprises of Ukraine, usefulness of the existing foreign experience has been proven. It has been proposed to use an integrated approach to establishing systems of rewards for employees, which integrates financial and non-financial forms of remuneration to staff: salaries, social programs, including programs to support a balance between work and life, recognition of merit and work, development and self-fulfillment. Implementation of the proposals would resolve such important issues as highly productive labor, improving the efficiency of production, addressing the problems of socio-cultural and qualification levels of workers.

Article is written in Ukrainian

BUSINESS INFORM №5-2015

Zlatkina O. D.
Causes, Characteristics and Consequences of Scientific-Technological Development of China prior to the 1950's: Influence on the International Economic Relations (p. 52 - 58)
The article is aimed to explore the historical reasons for the backwardness of China's scientific-technological development, which finally emerged in the 1950's. It was the result of prolonged neglect of development of the science and technology system in the country and had a significant influence on the formation of the international economic relations of the PRC as well as their irregularity. For the Ukrainian economic thought it is typical to analyze the state of scientific-technical specialization of China in the 1950's without analyzing the development of the science and technology system, which evolved in the country for centuries and had been subjected to significant internal and external influences. An appropriate analysis would provide for better understanding and prognosing the system of science and technology of the country, that has developed after the formation of the People's Republic of China. The relevance of this problematics suggests analyzing the above factors and their necessary subsequent identification when forming the strategy for developing science and technology in Ukraine to prevent further backlog in the scientific-technological development.

Article is written in Ukrainian

BUSINESS INFORM №6-2015

Kulikovskaya Y. V.
Development of Agro-Industrial Complex of the Republic of Belarus in the Context of Integration Processes (p. 38 - 42)
This article examines the external trade of the Republic of Belarus at the world agricultural market. Special attention is paid to the issue of effectiveness of agricultural enterprises in the framework of the closed cycle «production – processing – marketing». Resulting from the conducted analysis and in terms of the present article, trends in the current development of agro-industrial complex were identified. In particular, interdisciplinary cooperation is developing rapidly, role of major associations in the agriculture becomes more important, the output of agricultural production per capita is increasing constantly. In the terms of the article, the author considers the absence of business partnership principles in the relations of the entities of agro-industrial complex to be consequence of organizational and financial disintegration of the latter. According to the author, this situation can be improved by consolidating of commodity producers, processors and traders into integrated structures on the principles of market economy. The need for a rational territorial-production structure of the agro-industrial complex together with integration of its entities has been determined. According to results of the conducted analysis, respective conclusions and proposals in the sphere of development of the agro-industrial complex of the Republic of Belarus in the context of integration processes have been formulated.

Article is written in Russian

Karpenko O. O., Vlasova V. P.
Analysis of the European Experience as to Implementation of Concession Form of the Public-Private Partnerships in Seaports (p. 43 - 47)
Effective functioning of maritime transport is an essential condition for Ukraine's establishing as a maritime State, sustainable development of its transport complex and the economy as a whole. Seaport industry experts argue that concession could become a major way to strategic seaport development in Ukraine. The article analyzes the European experience as to implementation of concession in seaports, it has been determined that the main objectives are to maintain control over the seaports, increase the operating efficiency and support competition. Experience, behavior and efficiencies of doing business by private organizations theoretically should determine selection of the concessionaire. The contemporary classification of participants of concession agreements in the seaports of the EU is presented. The article identifies a number of key conditions that determine duration terms of concession, which is an essential prerequisite for its implementation. As an example of successful implementation of concession at seaport, information about the port of Antwerp (Belgium), which is the second largest in the EU, is provided. Use of concession for development of Ukrainian seaports will be successful under condition of adaptation of the best European experience to domestic realities.

Article is written in Ukrainian

BUSINESS INFORM №7-2015

Voznyi M. І.
Investment Expansion of the Leading World Countries in the XXIst Century (p. 42 - 47)
The article is aimed to analyze investment activity of the leading world countries in order to separate investment expansion. When analyzing, systematizing and generalizing statistical data, investment flows by three major world investors were considered. As a result of the study, the investments carried out for the purpose of investment expansion have been allocated. The major world investment expansionists as well as attractive sites for expansion have been identified. Prospects for research in this direction are the further comprehensive analysis of investment activity of the world countries with a view to extending the list of investment expansionists, as well as allocation of the economy sectors, which are the most attractive for investments. Further development of these studies will provide a global division of countries into expansionists and objects of expansion. The study helps to understand the basic «investment tastes» of the world's largest investors, which in turn makes it possible to establish better investment policies in the countries to protect the national interests and to prevent the complete loss of control over the main economy sectors.

Article is written in Ukrainian

BUSINESS INFORM №9-2015

Piontko N. B.
Foreign Models of Financial Equalization, Prospects for Implementation in Ukraine (p. 43 - 54)
The article is aimed to identify the models of financial equalization applied in foreign countries, and to substantiate the possibilities for use of foreign experience in terms of financial equalization or individual elements of such models on the territory of Ukraine, for taking into consideration the foreign tools of financial equalization in the context of the State regional policy reforms is a priority and urgent task of the present day. During the generalization and systematization of scientific works by numerous domestic and foreign scientists, models of financial equalization, depending on the form of state structure in the country, have been identified. Determinants of the necessity of financial equalization were analyzed, such as: the imbalance between the own financial security and the level of assigned tasks; the level of fiscal decentralization. Methods of income and expenditures equalization, applied in vertical or horizontal levels for balancing regional development, have been substantiated. Features of expansion of financial security of budgets by using innovative tools for equalization have been determined. A comparison of the models of financial equalization in foreign countries was made and the major tasks for improving the mechanism and organization of financial equalization of budgets in Ukraine were defined. Prospects for further research in this area are diversification of tools for financial equalization, defining the investment component in the structure of budgets' incomes and studying the activities of sub-central authorities in the financial market.

Article is written in Ukrainian

Grygorova-Berenda L. I.
International Competitiveness of the Maquiladoras in the Context of NAFTA-Functioning: Experience for Ukraine (p. 55 - 60)
The article is aimed at studying the emergence of the maquiladoras in Mexico, their evolution, characteristics and stages of development. The theoretical background of the maquiladoras is considered from the position of the product life cycle theory. As one of the preconditions for the emergence of the so-called «golden age» of the maquiladoras served a powerful devaluation of the Mexican peso in the mid 1990's. Along with this, a number of authors have noted the non-obviousness of economic successes in the whole economy of Mexico. The current stage is characterized by the transition of the maquiladoras from assembling and simple productions towards the producing innovative products and marketing their own brands. It is noted that among the investors in the maquiladoras, in contrary to the American TNCs, the number of companies from Southeast Asia and Europe is still growing. The author concludes that in the middle of the 1990's the maquiladoras were transformed from the special economic cross-border trade along with investments with the United States, which had a local character, into a classical free trade zone. The article contains an attempt to extrapolate the experience of the maquiladoras on interaction in the creation of a free trade zone with the US-market, against the background of the growing competition from Southeast Asian countries at the US-market, considering the current trade relations of Ukraine with the EU.

Article is written in Russian

BUSINESS INFORM №10-2015

Husyev Y. V., Bielikova N. V.
The Experience of Economic Reforms in the Country and its Regions (p. 46 - 52)
The article is aimed at a synthesis of the foreign experience in planning and implementing economic reforms in the countries and their regions in terms of initial conditions for reforming, the used strategies, as well as possibilities of adapting this experience to the Ukrainian conditions. The experience of economic reforms in Poland, the Czech Republic and Hungary was considered. The basic strategies for reforming the models of these countries' economies have been determined, the key stages of reforms have been allocated, an assessment of the socio-economic results of the reforms has been provided. It has been substantiated that analysis of the experience of economic reforms in various countries allows to conclude about certain scientific patterns: identify the countries that have implemented reforms successfully, and identify factors of such a success; carry out a comparison of the economic reform strategies together with their basic parameters: speed, direction, resource-intensiveness, etc.; generalize the main challenges faced by countries and their regions during the economic reforms; determine the specifics of implementing economic reforms at the level of individual regions. Prospects of the further research consist in forming recommendations on improvement of mechanism for economic reforms in the country and its regions.

Article is written in Ukrainian

Kosata I. A.
Role of the Integrated Business Structures in the Economies of the World's Leading Countries and Ukraine (p. 52 - 56)
Integrated business structures are the means for carrying out joint activities, mutually beneficial cooperation, improving the division of labor and cooperation through building the production and organizational structures, adapted to the specific conditions. To ensure the long-terms prospects of effective functioning of the economy of Ukraine by using various forms of integration of business structures, it is necessary to clarify the objective laws of development evolution for these forms, analyze and theoretically generalize the fundamental factors influencing both activity and efficiency of the process of integration of the industrial enterprises of Ukraine as compared with international experience. The article considers the influence of the integrated business structures on economy of the world's leading countries and Ukraine and their role in the formation of a competitive economy.

Article is written in Ukrainian

Nazarova G. V., Kotliarevska K. Y.
Comparative Analysis of the Recruitment Policy: the Best of World and Ukrainian Practices (p. 56 - 60)
The article is aimed to examine the foreign experience as to the recruitment policy, to determine its characteristics as well as possibility of its use in the activities of Ukrainian enterprises. An important fact here is to define the context of the European approach to staff recruitment together with selection of the typical features and the latest trends in both practice and research in this field. An analysis of features of the procedure for the recruitment of new employees in different world's countries and in Ukraine has been conducted, which is considered one of the most important tools in the personnel management. A comparative analysis of the recruitment showed how selection of the best candidate – a specialist with specific professional knowledge or a person having common knowledge within his profession – is carried out in the United States, in Japan, in the European countries and in Ukraine. Prospects of further research are the possibilities for implementation of the obtained results for the effective management of the staff recruitment by company.

Article is written in Ukrainian

BUSINESS INFORM №11-2015

Yaroshenko I. V., Semyhulina I. B.
Analysis of the Existing Systems of Forecasting Socio-Economic Development in the World and in Ukraine (p. 58 - 65)
Forecasting, planning and programming are important steps in the implementation of public functions of control and regulation of socio-economic processes, both within individual countries and at the development of global forecasts and projects for international development programs. The process of integration of the Ukrainian economy into the world economic system and desire to join the European Community is a promising stimulus for the development of a contemporary system of forecasting the socio-economic development of territories and an effective tool for the implementation of State policy in the national economy. In this context, practical experience of Ukraine in the forecasting socio-economic development remains both primary and imperfect. Therefore, development and implementation of methodology for system forecasting of socio-economic development, which would ensure the interconnection of all spheres of social life, including in terms of time, to manage the sustainable development of country and its regions, are appropriate and relevant. A pressing need is to create a methodology for creating not only medium-and long-term, but also operational and short-term forecasts, which will provide for timely formulated and implemented proactive measures of respond to certain situation.

Article is written in Ukrainian

Khanin I. H.
Problems of Creation and Application of Dual-Use Technologies in Ukraine with Consideration of Foreign Experience (p. 65 - 69)
The main strategic component of economic reform is the transition of an economic system to the model of investment-innovation development in the framework of the knowledge-based economy and according to world institutions. In such relationships the model is able to provide conditions for improvement of investment climate, development of appropriate institutions, and as a result, will lead to increased welfare of the population of Ukraine, while being fully integrated as a full partner in the new architecture of global economic system and to reach the trajectory of sustainable economic development. This fact creates the preconditions for a more in-depth study in the further process of transfer of dual-use technologies, its forms and mechanisms. The article focuses on the main problems of creation and application of dual-use technologies. These issues are listed and briefly characterized. The purpose of the article is to attract the attention of researchers and the heads of departments to the need for a balanced and informed approach to the creation and application of dual-use technologies.

Article is written in Russian

Zagorodnia A. А.
Analyzing the Network of Higher Economic Education Establishments of Different Ownerships and Different Levels of Accreditation in the Republic of Poland (p. 70 - 74)
The article is aimed at analyzing the network of higher economic education establishments in the Republic of Poland. Features of organization of the network of higher education establishments of different ownerships and different levels of accreditation in the Republic of Poland have been analyzed. When conducting the analysis, the author takes into consideration various factors, among which: main directions of specialist training, political and national aspects, historical experience and directions for future development. The availability and diversity of higher economic education establishments in the Republic of Poland is determined by the need and demand for trained professionals of economic profile precisely. Information about a number of higher economic education establishments in the Republic of Poland has been provided. The higher education establishments of the country must be accepted compulsorily into the European system for the exchange of students. The article specifies that an analysis of the regional education markets in Poland allows to determine the similarity of educational systems of Ukraine and the Republic of Poland, which, in turn, makes possible to develop methods for conducting collaborative, trans-regional educational programs.

Article is written in Ukrainian

Shuba O. А.
Current Dividend policy of German Companies (p. 75 - 79)
The article is concerned with determining the characteristics of current dividend policy of German companies. It has been disclosed that the majority of shareholders in Germany does not consider dividends as the main reason to hold shares and therefore does not refuse from the shares when dividends are reducing. Accordingly, the shareholders do not sell their shares massively, hence their price remains stable. Thus, we can assume that distribution of dividends by German companies is not the major factor influencing the value of shares. In addition, the dividend policy of companies in Germany (on example of the companies that were considered) is characterized by dependence on the financial flows of companies as well as taxation of dividends. Companies with significant financial flows are distributing dividends consistently. General rate of profit taxation in Germany lies within 23-33%, while dividends are exempt from corporate income tax. Therefore, companies assign part of their profits for distribution of dividends.

Article is written in Ukrainian

Polishko G. H.
Global Experience as to Creating National Brands (p. 80 - 85)
The article is aimed at theoretical substantiation and analysis of global experience as to creation and development of national brands. Methodological basis for the study was formed from the works of leading Ukrainian and foreign scientists, information and analytical materials of international rating agencies. International experience as to creation of national brands has been analyzed on the example of the United Kingdom, Switzerland, Singapore, Liechtenstein, South Korea. Tools and mechanisms for creation of national brands of countries have been generalized. In the generalization of different approaches, the most common tools have been identified, which are widely used for the creation of a national brand. Although still there is no holistically built marketing strategies of countries, but some states (for example, Switzerland and Singapore) are beginning to establish strategies, taking into account current market research, which would be willingly cooperated with the government, economic and political situation in the country, cultural, historical, geographical characteristics, moods and perceptions of population, as well as unique features of each country etc. Prospect of further research in this direction will be analyzing the formation and development of national brand of Ukraine.

Article is written in Ukrainian

BUSINESS INFORM №12-2015

Gawd A. К.
Contemporary Aspects of Researching the Comparative Assessment of Efficiency of the Organizational-Economic Mechanism for Management of Resource Potential of Construction Companies in Ukraine and Iraq (p. 43 - 49)
The article is concerned with a comparison of features of the resource potential reproduction of construction companies in different countries (Ukraine and Iraq), in terms of establishing effective organizational-economic mechanisms for management of resource potentials of enterprises, situated within more complex industrial structures. Essence of the process of integrating elements of the resource potential of enterprises has been disclosed; significance of the institutional structuring of economic entities for an in-depth characterization of micro-resource potentials has been determined. Relevance of identifying and assessing of influence of the factors' «outlines» on the status of resource potentials of construction companies, operating within the boundaries of the industrial hubs of national economies, has been substantiated. The levels of resource potentials (by the stages of reproduction) of the construction companies of the industrial hubs of Lisichansk-Rubizhne (Ukraine) and Baghdad-Taji (Iraq) industrial hubs have been assessed. Expedience of development of the structural-level, process, and functional aspects in researching micro-resource potentials of construction companies as well as related organizational-economic mechanisms for management has been determined and substantiated. Conduction of a comparative analysis of the integrative assessments of efficiency of the organizational-economic mechanisms for management of resource potentials of the both Ukrainian and Iraqi construction companies has been demonstrated; directions for further research have been defined and substantiated.

Article is written in Ukrainian

Nwosu J. E.
Assessment of the Socio-Environmental Challenges of Oil and Gas Production in the Niger-Delta Region of Nigeria (p. 50 - 60)
The Niger Delta region is made up of 9 out of the 36 states of Nigeria. The region is richly endowed with abundant natural resources and is one of the most biodiverse places on the planet comprising of four ecological zones namely: coastal barrier islands, mangrove swamps, freshwater swamps and lowland rainforests. Nigeria has a total of 159 oil fields and 1481 wells and produces a maximum capacity of about 2.5 million barrels per day as at 2014. These oil fields and well are all located within the Niger-delta region of the country. However, years of unsustainable exploration of oil and gas in this region have led to severe environment and social challenges among communities of this region. These include among others, degradation of the farm land, depletion of forest and aquatic fauna, pollution of air, groundwater and mangrove swamps. The long-term impacts of all these have posed serious health and social problems. Invariably, uncommon health problems have prevailed and the environment including the livelihood of the people of this region which are mainly farming and fishing have seriously been affected. This paper therefore is an attempt to assess the socio-environmental challenges that appear as a direct and indirect result of oil and gas exploration and production in the Niger-delta region of Nigeria. It draws a comparative analysis between Nigeria’s Niger delta and some other oil producing African regions with the aim to bringing into perspectives the environmental and social impacts.

Article is written in English

BUSINESS INFORM №1-2016

Blahun I. S., Kyzymyshyn N. M.
Generalization of the World Experience in Differentiation of Regions on Account of Innovation (p. 31 - 34)
One of the main strategic objectives of our State is to promote innovation, which should include development and launch of new products at the national market, development and introduction of new technologies, creation and application of new knowledge. In accordance with the said above, the article has examined the experience of European Union Member States to improve the efficiency of innovation and differentiation of regions in terms of innovation, tools for evaluation of the innovation activity status has been determined in relation to the territories of the European Union at the level of regions.

Article is written in Ukrainian

Heiman O. A., Kozyrieva O. V., Krasnonosova O. M.
The Global Experience of Development of the Theory of Spatial Distribution of Productive Forces (p. 35 - 42)
The publication is aimed at theoretical generalization of the global experience of development of the theory of spatial distribution of productive forces as the basis of regional economy. Considering the evolution of scientific views on the spatial development of territories, taking account of the particularities of the distribution of production, one can allocate and identify several paradigms, which replaced each other, but preserved their connection with the placement of productive forces. Each one of these paradigms or all of them as a whole provide an example of a single historical process associated with the productive forces. Characteristic of a methodology based on the spatio-temporal paradigm is consideration of both time and space factors, which, in substance, take on the qualities of economic categories. Speaking of the use of theoretical developments in the practice of regional development, it should be specified that programs, strategies and other regulations must take into account the linkage between the progressive and the negative trends as well as cyclical nature of economic development, including the global economy, identify the factors that accelerate or retard the passage of every evolutionary spiral, and observe consistency of the productive forces of region with the technological patterns of production.

Article is written in Ukrainian

Polikevych N. I.
Spot Markets Indices as Benchmarks of Formation of Future Price Trends in the Power Exchanges of Eastern Europe (p. 43 - 48)
The article is concerned with a theoretical generalization of the use of indices for electric power at the European spot exchanges and elaborating proposals on establishment of a similar spot index for the Ukrainian power exchange. 16 indices that are published daily by the power exchanges BSP Regional Energy Exchange, Power Exchange Central Europe, Polish Power Exchange and Opcom have been analyzed. It has been indicated that these indices are used for electricity price forecasting and monitoring the situation in the power market. The article examines the way spot indices are calculated by power exchanges, based on the value of the arithmetic average of market prices «day ahead». Imperfection of such way of calculation for price index values has been substantiated. The key characteristics of the future price index for Ukrainian spot market as benchmarks within the introduction of futures contracts for electricity have been identified.

Article is written in Ukrainian

Pererva P. G., Gliznutsa M. Y.
Studying the Foreign Experience of Evaluating Intellectual Potential of Organizations (p. 49 - 55)
The use of intellectual capital (IC) is considered in developed countries as a strategic management tool for achievement of the organizations' success in innovative activities. The article is aimed at studying the foreign experience of evaluating intellectual potential of organizations and identifying directions for its advancement and use at the domestic enterprises to improve their innovative activity. An approach to capital structure has been developed, in which the following three parts are allocated: human capital, structural capital, capital of interactions. The proposed general model for research of IC in terms of firm or region allows to evaluate not only the potential, but also several important lines of communication, namely: industrial-technological, market-customer, business environment and society, commercial operations (technology), value creation and the overall development strategy. In the proposed version of studying the IC potential, analytics are combined with management of both strategy and development tactics, based on use of resources of intellectual capital. The scheme of development management through the system of the activities of influence is recommended as well. The end result of the analytical project work provides the development package, which is issued as a supporting document of development strategy. Evaluation of the development level of intellectual capital in the context of individual enterprises and of regional complex in general has been recommended to include in the Regional innovation system (RIS) as one of its functional tasks.

Article is written in Ukrainian

Zvirgzde K. I.
Key Trends in the Development of Foreign Trade of France in the Global Competitive Environment (p. 56 - 62)
The article is aimed at analyzing the nature and contemporary trends of foreign trade activity of France. In the process of evolutionary development of the economy of France in content, structure and directions of its foreign trade strategies occurred permanent modifications and transformations, resulting from the need to maintain optimal proportions between material, financial and human resources, production and consumption, commodity supply and purchasing power, as well as receipts and payments in the settlements with other countries. The article is concerned with an integrated analysis of progressive structural reforms in the economic system of France in the last decade, which led to fundamental changes in its foreign trade operations both in terms of monetary magnitude of export-import transactions and their product-species, geographical, institutional and regulatory structures. The nature, key indicators, trends and issues in the foreign trade strategy of France in the face of global volatility as well as ways for its improvement have been researched.

Article is written in Ukrainian

Kudriavets Y. V.
The Experience in Building Strategies of Economic Development in Germany: Lessons for Ukraine (p. 62 - 66)
The article is aimed at analyzing the experience of building strategies of economic development in the EU Member States on the example of the Federal Republic of Germany, highlighting the possibilities of transferring such experience into the Ukrainian practice. The necessity of formating effective strategies for economic development has been substantiated. The recent researches and publications in the aspect of development strategies of States have been analyzed. As priority research direction in terms of recommendations for Ukraine has been defined the European Union. The contemporary development strategies of the Federal Republic of Germany have been analyzed. Detailed characteristics of the contemporary strategies of innovative development of Germany have been provided, there are three key strategies serving as guidelines in the implementation of State policy. All three strategies are interrelated and have a common goal, which is a steady growth in the economy and society targeted at a high quality of life.

Article is written in Ukrainian

BUSINESS INFORM №2-2016

Klymchuk M. M.
Management of Financing the Energy Saving in Terms of Construction Enterprises: International Experience (p. 65 - 70)
The article is aimed at studying the experience of financing the energy saving projects by leading countries of the world from the perspective of adapting the contemporary management-regulatory conditions of technology in terms of enterprises of the construction complex of Ukraine. On the basis of a content analysis of the existing practices of implementation of energy saving and enhancing energy efficiency, the following classification has been suggested: depending on the institutional socio-economic and environmental development, in accordance with the course of sustainable development, depending on the structure of economic system, depending on both time interval and subsectoral characteristic. Based on a scientific approach to the five levels in the structure of economic systems, barriers and recommendations for their prevention in the management of energy saving in construction at each of these levels have been identified. The article proposes strategic priorities of the State policy of energy saving in the construction industry, in particular holding of energy audits and energy performance certification of buildings, increasing the share of renewable energy sources in the energy balance of country; implementation of contemporary concepts of energy saving ("Green Lease", "Passive House", "Triple Zero"); establishing consulting-information centers for promoting energy saving measures.

Article is written in Ukrainian

BUSINESS INFORM №3-2016

Dubyna M. V., Yusuhno S. I., Bychkova P. V.
Functioning Peculiarities of the Deposit Insurance System in the USA (p. 24 - 31)
The article analyzes the current state of the deposit insurance system of the United States and identifies the goals, objectives and key features of its operation. It describes the historical features of the system creation and building and its development in the post-crisis period during the recovery of the global financial markets. Also, studied new tools that had been developed and implanted in the work of the Financial Deposit Insurance Corporation as the institutional part of the governance of the deposit insurance system in the United States, to the number of which should be included first of all the introduction of the procedures orderly liquidation of insolvent banks. In the article also were examined the modern mechanisms of counteraction to the crisis phenomena in the framework of the national banking systems for prevention the emergence of the insolvent banks that are effectively used in the US by the relevant government authorities in the regulation of the financial services markets.

Article is written in English

BUSINESS INFORM №4-2016

Horbatov V. M., Yaroshenko I. V.
Global Experience as to Evaluation of the Socio-Economic Development of Countries and their Regions (p. 44 - 50)
The article is aimed at studying the world experience as to evaluating efficiency of the development of regional socio-economic systems, allocation of the meaning of system approach along with the diversity of socio-economic development factors in the search for effective management of territorial development, establishing the feasibility of applying the best foreign samples to Ukraine. Advantages of global practices of evaluating the development of socio-economic processes, their impact on building the system for management of the progressive regional development have been analyzed. Possibilities of using the studied experience for the formation of new approaches in the management of regional socio-economic development, choice of priorities and directions for realization of the efficient State regional policy in Ukraine have been evaluated. It is concluded that the necessary and relevant component in the analysis of socio-economic development of regions is the introduction of continuous current monitoring of the major indicators of socio-economic development. Research on the above indicated directions is the subject of further scientific researches as to improving the State management of socio-economic processes at the regional level.

Article is written in Ukrainian

Semyhulina I. B.
Evaluation and Analysis of Trends in Socio-Economic Development of Selected Groups of the European Union Member States and Their Regions in the Context of the EU Expansion (p. 50 - 58)
The article carries out analysis and evaluation of trends in socio-economic development of regions of the «older» and «newer» EU Member States for the period of 2003-2012. The level of socio-economic development of the regions has been evaluated within the specified group of the Member States as well as in comparison with average European indicators. Efficiency of the regional policy of the European Union has been analyzed on the basis of comparative analysis of selected indicators of socio-economic development of regions of selected groups of the EU Member States together with the dynamics of the level of inequality of their development in terms of expansion and structural changes of the European Union. The possibility of application of the best practices for Ukraine has been considered.

Article is written in Ukrainian

Didyk A. M.
Innovative Levers for Ensuring the Polyvector Development of Enterprises: the Experience of Economically Developed Countries (p. 59 - 63)
The article is aimed at generalization of experience of the economically developed world countries in the sphere of formation and use of innovative levers for ensuring the polyvector development of enterprises. The expediency of consideration of this issue has been substantiated in view of the low level of efficiency regarding the innovation policy in Ukraine. The main innovative initiatives of the EU, implemented in the recent years and accepted as effective for intensifying innovation activity of integrative education, have been considered. Attention is drawn to the greater support to small and medium-sized enterprises in the EU towards the development of their innovation activities. The major projects in the European Union, Canada, China, Japan and the United States, aimed at the development of scientific research and implementation of innovation technologies, has been reviewed. The importance of venture capital and business «angels» for financing the risky innovation projects in the economically developed world countries has been emphasized. The role, meaning and practical significance of formation and development of the innovation infrastructure to improve innovative levers for ensuring polyvector development of enterprises has been disclosed. Prospects for further researches on the topic should be consisted in a detailed consideration of the conditions and opportunities for use of the above-mentioned innovative levers in terms of the economy of Ukraine.

Article is written in Ukrainian

Isaieva N. І., Degtiarova O. V.
A Comparative Analysis of the State Systems for Forecasting in the Aspect of the State Regulation of Market Economy on the Example of the EU, Poland and Ukraine (p. 64 - 73)
The article is concerned with a comparative analysis of the short-term and long-term forecasting of socio-economic status of the European Union (EU), Ukraine and Poland, a comparative evaluation of the systems of strategic documents of the socio-economic development of these countries. The authors have explored the existing prognostic documents and organizations, which publish them. The basic terms in the field of forecasting have been defined. A comparison of the recognized at the legislative level, macro-indicators of the short-term and medium-term prognoses for the EU, Poland and Ukraine has been carried out. Shortcomings in the system for strategic forecasting of Ukraine have been identified. On the basis of the positive example of the introduction of the systems of strategic prognostic documents of Poland and the EU, the authors have elaborated recommendations on the development and improvement of the systems of short-, medium- and long-term strategic forecasting documents.

Article is written in Ukrainian

BUSINESS INFORM №6-2016

Yaroshenko I. V., Semyhulina I. B.
Effectiveness of the Socio-Economic Regional Development in the European Union Member States: Dynamics, Trends, Analysis of the Socio-Economic Indicators of the Efficiency of Regional Policy (p. 56 - 65)
The article analyzes and evaluates trends in the socio-economic development of the regions in the European Union Member States for the period of 2000-2012. On the basis of comparative analysis, the effectiveness of the individual State-defined regional policies for overcoming differentiation and inequalities of the socio-economic development of the own territories has been determined. Necessity and possibility to apply these practices for Ukraine has been estimated.

Article is written in Ukrainian

Izmailov Y. O.
Introducing the Positive Reforms Experience of Foreign Countries to Ensure the Investment-Innovative Development of the Economy of Ukraine (p. 66 - 73)
The article is aimed at studying the economic development of the advanced world economies, highlighting their individual features and proving the possibility of adapting their positive experiences for use in the national model of the investment-innovative development of Ukraine. The main problems of the socio-economic development of Ukraine have been reflected. Reforms and their results in Germany and Japan after World War II, in China – as a result of the «Great jump», in «East Asian Tigers», in the United States of America, and in Poland have been analyzed with determinig their positive experience for Ukraine. It has been proven that in the global economic competition winners are the countries that provide a good environment for investment-innovative activities associated with the development, introduction and use of new technics and technologies. On the basis of the positive reforms experience of the advanced economies of the world, ways to ensure the investment-innovative development of the economy of Ukraine have been provided.

Article is written in Ukrainian

Koval O. V.
The World Experience of Tax Regulation of Actors in the Software Industry (p. 74 - 78)
The article is aimed at studying the progressive experience of tax regulation of actors in the software industry in the developed world countries, determining ways of improving processes of their taxation in Ukraine. The article discloses that in the world practice combinations of four types of the tax incentives are used: tax deduction (decreasing the tax base as to the amount of expenses); tax credit (decreasing taxes payable as to value of investment); preferential rates (on income tax, VAT, or exemption from customs duties); accelerated depreciation (of fixed assets). As for the non-tax incentives, various monetary grants and financial programs are widely used in the world. Some ways to improve the processes of tax regulation of actors in the software industry in Ukraine have been proposed, taking into account positive experience of the industrialized countries and the European Union Member States.

Article is written in Ukrainian

BUSINESS INFORM №7-2016

Sazonets О. M.
The Current Trends in the Development of Military-Industrial Complex in the Leading World Countries (p. 8 - 12)
The article is aimed at studying the international experience of developing the military-industrial complex and its use for Ukraine. An analysis of functioning of the military complex in the advanced world countries has been carried out. The main trends in the development of military sector in the different countries have been displayed. The main questions of military production have been specified in the context of globalization. The necessary directions for development of the military-industrial complex of Ukraine have been identified as: increase in the share of GDP aimed at military spending, employment in military production, increase of the scientific-technological provision of military production, build-up of exports of military products, development of the defense environment against cyber attacks. Prospect for further research can be conducting an analysis of development of the military industry in Ukraine over the past few years, identifying strengths and weaknesses in the development dynamics of this industry.

Article is written in Ukrainian

Slipchenko T. O.
The Evolution of Inflation Targeting Regime: Analyzing the Foreign Experience (p. 12 - 16)
The article is aimed at studying the inflation targeting and the necessary conditions for implementing this monetary regime. Analyzing and generalizing the results of the researches by several scientists, international organizations, and central banks, the evolution of inflation targeting regime along with the need for introduction of a more flexible monetary policy have been considered. The progressive experience as to the implementation of inflation targeting in the foreign countries has been studied. It has been found that in both developed and developing countries, an introduction of inflation targeting provides to not only reduce inflation and maintain its level within the inflation target, but also reduce volatility of other macroeconomic indicators. It has been proven that a prerequisite for the introduction of inflation targeting is independence of central bank, a robust system for economic analysis and prognosis, transparency of the central bank activities. Further research in this direction can be directed to the development and implementation of effective mechanism for inflation targeting in Ukraine.

Article is written in Ukrainian

BUSINESS INFORM №9-2016

Goncharenko N. I., Surin D. V., Dolya R. M.
Transformation of Taxation System in the Countries of Eastern Europe: the Cases of Hungary, the Czech Republic and Poland (p. 28 - 33)
The transition of the socialist countries from planned to market economy is one of the significant developments in the world economy of the last third of the 20th century. Indigenous institutional changes have also affected tax systems of transitional economies. Tax reforms in the countries of Eastern Europe were aimed at stimulating economic interest of entrepreneurs, in spite of their form of ownership, in the development of production and growth of the State budget revenues and thus solving national problems on this basis. In the article a study of peculiarities of transformation of tax system in conditions of transition economy of Hungary, Poland and the Czech Republic has been carried out. Conclusions about efficiency of tax impact on economy in transitional period that depends on the progress of market relations have been substantiated. Scientific-practical recommendations on directions of improvement of tax system in Ukraine and its adaptation to European standards in the field of taxation have been proposed.

Article is written in Ukrainian

Kozyrieva O. V., Tur O. V.
The Policy of Aligning the Socio-Economic Development of the Regions in the European Union (p. 34 - 39)
The article is aimed at studying features of the regional policy in the European Union (EU), and generalizing its experience in aligning the socio-economic development of regions. The process of establishing the regional policy in the EU, which consists of certain stages, has been analyzed. The initial stage is associated with development of the medium-term programs of the economic policy of the EU. The next stage is associated with creating the structures for financing activities of regional policy, that is, committees and foundations, which are operating within the EU budget. The current stage of the regional policy of the EU provides for harmonization of activities for improving efficiency of programs and projects; emphasis on compliance with components of the strategy of «Europe-2020»; establishing new partnerships in order to enhance the interaction between the Member States of the European Union. An innovation of the new stage of the regional policy of the EU is also the approach to identifying the problematic regions. Supporting the problematic regions is the direction of activity of the EU, which over time becomes increasingly important, since the expansion of the Union is characterized by the accession of countries with a low level of the socio-economic development and thus requires appropriate activities of supranational policy.

Article is written in Ukrainian

BUSINESS INFORM №10-2016

Petkova L. O., Palamarchuk D. M., Vdovychenko Y. V.
The Impact of the European Integration on the Structure of Exports and Consumption of Value Added: the Polish Experience for Ukraine (p. 47 - 53)
The article is aimed at studying the Poland's participation in the global value chains in the context of the European integration and using this experience for Ukraine. Many publications by numerous researchers point out such widespread phenomenon in the world economy, as global value chains. An integration into these structures contributes to economic growth, employment and sustainable development of countries. A studying of alike publications revealed fast growth of the level of integration of the Polish economy into the global value chains. In addition, both before and after the accession of Poland to the EU, volumes of imports of the value added from outside the EU grew at a higher rate than the corresponding imports from the EU. An analysis of the structure of Polish exports displays its reformatting towards growth of the ratio of medium-and high-tech products. It is found that the fastest growing proportion in the structure of exports belonged to the products, in the production of which the ratio of the foreign value added was the highest. Prospect for further research in this direction will be identifying effective tools to ensure the optimal form of Ukraine's integration into the global value chains.

Article is written in Ukrainian

Vinska O. Y., Tokar V. V.
LGBT-Inclusion Culture: Impact on Economic Growth of the USA, China and Poland (p. 54 - 60)
The article investigates the relationship of social values, especially tolerance, and economic progress on the basis of multidisciplinary approach. The authors propose a formula for calculating coefficient of the level of LGBT Inclusion and Diversity Culture Elasticity of GDP. The hypothesis about the impact of changes in national cultures in the direction of strengthening tolerance and inclusiveness on the volume of GDP at fixed prices is tested. The elasticity analysis is conducted for three countries, namely the United States, China and Poland, chosen in view of the availability of statistical data and the leading role of these countries at the global and regional levels in matters of socio-economic transformations affecting the formation of the institutional landscape and development models. The article evaluates the relative changes in the level of tolerance in the studied countries as a whole and in the context of socio-economic parameters, including age, type of employment, educational level and social status. As a result of the calculations there confirmed the positive LGBT Inclusion and Diversity Culture Elasticity of GDP that speaks in favor of stimulating tolerance in these countries to make effective use of human capital and accelerate economic growth.

Article is written in English

BUSINESS INFORM №11-2016

Kravets O. V.
The Experience in Supporting Small and Medium-Sized Businesses in the European Union Member States (p. 54 - 60)
The article is aimed at studying the European experience in supporting small and medium-sized businesses. The article examines the conceptual provisions on supporting small and medium-sized businesses through: creation of an enabling business environment, promoting development of entrepreneurship, access to new markets and internationalization, access to financing, supporting the competitiveness and innovative development, informatialization of entrepreneurs. Both the facilitating and the constraining factors that impact small and medium-sized businesses in the European Union have been generalized. The initiatives of the European Commission aimed at reviving the spirit of entrepreneurship in Europe have been analyzed. It has been proved that the European Union Member States have a well-developed mechanism for supporting small and medium-sized businesses. Prospect for further research in this direction is substantiating the strategic priorities for development of small and medium-sized businesses in Ukraine on the basis of the positive experience of the European Union Member States.

Article is written in Ukrainian

Gruzina I. A.
Studying the Foreign Experience in Building up a Budget System (p. 61 - 64)
The article is aimed at studying the foreign experience in building up and the efficient functioning of a budget system, to search for rational ideas, approaches and methods of budget management and identify opportunities for their use in Ukraine. The forein experience of building up an efficient system of inter-budgetary relations and the budget management mechanism have been considered, the necessity of avoiding economically unreasonable decisions on the use of budgetary funds in order to prevent errors and adverse effects in this field of activity has been substantiated. The special value of both positive and negative global experience in building up and reforming budget systems has been underscored, allowing to use the time-tested rational ways of solutions in this sphere. However it is specified, that the methods of solving problems of economic development of Ukraine cannot be borrowed in its pure form due to peculiarities of both the socio-political and the socio-economic nature.

Article is written in Ukrainian

BUSINESS INFORM №1-2017

Gacim Salah
The Ecological-Economic Imperatives in the Development of World Fisheries on the Example of the Kingdom of Morocco (p. 32 - 38)
On the basis of a study of contemporary trends in the development of the fisheries’ resources and developing the fishing industry of the Kingdom of Morocco, the article substantiates the ecological-economic imperatives in the development of world fisheries. It has been determined that development of world fisheries is accompanied by the ecological-economic contradictions, solving of which in the theoretical aspect can be based on the concept of «sustainable development». The author studied the fish resources of the Kingdom of Morocco, as well as the role of the regional linkages in their development, developing the fisheries, and formation of trade flows. It has been found that the existing model of usage of the national fishery resources in the international trade does not correspond to the objectives of sustainable development in the fishing industry and in the economy as a whole. The systemic changes at the present stage of development of the fishing industry of the Kingdom of Morocco, which are conditioned upon the «green» priorities in the development of the national economy, have been characterized. It has been summarized that the «green economy» and the «blue growth» are the absolute requirements for the long-term development of world fisheries.

Article is written in Russian

BUSINESS INFORM №2-2017

Zharska I. O.
The International Experience of the State Support for Creating the Transport and Logistics Centers (p. 37 - 44)
The article is aimed at analysis and synthesis of the international experience as to the State support for creating the transport and logistics centers (TLCs). The causes for emergence of the first TLCs in Europe (60-80-ies of XX century) were considered. Values of the LPI index for the countries occupying the first 40 positions of the ranking as of 2014 and of 2016 have been provided, and the major changes during this time have been analyzed. The ranking position of Ukraine is displayed separately. Features of the logistics infrastructure of nine countries with a high value of the LPI index have been considered, degree of the State involvement in the formation of the TLC network has been analyzed. It has been substantiated that creation of the transport and logistics centers allows to reduce the logistics costs of individual producers and contributes to enhancing the efficiency of operation of the national economy in general by attracting investments in the infrastructure development, increasing the number of jobs and tax revenues. The basic motifs that determine the interest of the State authorities in providing support for creating the transportation and logistics centers have been defined. Prospect for further research in this direction will be determining the efficiency of using the different models of the State support for creation and development of TLCs.

Article is written in Ukrainian

BUSINESS INFORM №3-2017

Bohatyriov I. I.
The Regulation of the Financial Activities of the European TNCs (p. 59 - 65)
The article is aimed at a detailed analysis of the regulatory mechanisms for the financial activities of the European TNCs. Evolution of the economic financial system of the European Union was analyzed. The sequence of documents, adopted by the European Union, was investigated in detail. It has been specified that regulation of the financial activity of the European TNCs has a clear polystructural basis for the moderate management of the mega-market covering the supranational, national and corporate levels. The causes for «insufficient» implementation of the EU program as to establishment of a common financial market have been determined.

Article is written in Ukrainian

Yeliseyeva O. K., Khazan P. V.
Some Aspects of Assessment of Prospects for Modernization of the World Energy Sector (p. 66 - 71)
The article is concerned with systematizing the concept of «renewable energy sources» and their classification, exploration of the world energy reserves to assess prospects for modernization of the energy sector in the context of sustainable development. Sustainable development leads to introducing the renewable energy sources as an alternative to the resource-intensive obsolete technology. This significantly improves the quality of life of population and reduces of degradation of the natural environment. The article systematizes the renewable energy components, proposes various options for classification in accordance with both the physical and the economic bases. The research results provide a basis for a consistent and thorough statistical estimation of prospects for development of the energy sector in general, as well as the renewable sources of energy in particular, in the context of sustainable development. Also a comparison of the energy reserves with the general energy of the solar radiation has been provided.

Article is written in Ukrainian

BUSINESS INFORM №4-2017

Ievdokymov V. V., Polchanov A. Y.
The Impact of Military Conflicts on National Economies of the Post-Socialist Space Countries (p. 48 - 54)
The article is concerned with studying the impact of military conflicts on the national economies. The study is aimed at assessing sensitivity of the key macroeconomic indicators (GDP, share of military spending in the GDP, and unemployment rate) to the military actions, which evolved on the territory of the former USSR countries (Azerbaijan, Georgia, Moldova, Russia, Tajikistan) until 2013. According to the results of generalization of publications on this topic three states of the national economy in relation to military conflicts were allocated: the peace-time economy, the war economy, the post-conflict economy. A reduced financing for the defense sector and rising unemployment in the first post-war years, as well as a gradual increase in the GDP on completion of the military actions in the countries under consideration, have been identified. Some attention was paid to the macroeconomic situation and the State policy in the sphere of national security and defense of Ukraine prior to 2014.

Article is written in Ukrainian

Sokolenko L. F.
The Foreign Experience of Taxation of the Agrarian Sector of Economy (p. 55 - 60)
The article is aimed at assessing the taxation system of the agrarian sector of economy in the world countries and in Ukraine, as well as identifying common tendencies and directions of development of the system for taxation of the agricultural producers by studying the foreign experience. An estimation of the taxation system of the agrarian sector of economy in the world countries and in Ukraine has been provided, common tendencies and directions of development of the system for taxation of the agricultural producers have been identified from the standpoint of adaptation of the global experience to the Ukrainian conditions of economy management.

Article is written in Ukrainian

Angelova J. S.
A Comparison of the Prices for Electricity Network Services in the Regulated and Free Market (p. 61 - 65)
Sharing the costs for balancing the electricity system is an important step towards full liberalization of the market, in line with the other countries in the European Union, where all clients pay the costs for balancing energy system. It can’t be denied the indisputable progress of the liberalization process of the Bulgarian electricity market. The topic of "liberalization" is no longer unknown to stakeholders in the energy sector, from both the supply and in demand stand points. In the article the key problems of the creation of a free energy market for a streamlining of production costs, improving the energy efficiency and introducing competition in the sector in Bulgaria are generalized. Thus, the article is considered aspects of switching from scheme of "Single buyer" to scheme of "Bilateral agreements”. Also, the comparison between the prices of the network services in the regulated and free electricity market is conducted. As a result of conducted research there was concluded that Bulgarian energy sector needs changes.

Article is written in English

BUSINESS INFORM №5-2017

Skorobogatova N. Y., Kukharuk A. D., Pyshnograiev I. O.
The Dynamic Analysis of the Economic and Innovation Development in the World’s Countries (p. 26 - 33)
The article is concerned with the development of scientific provisions on the components of economic and innovation development of the world’s countries. The study was conducted using the methodology of the non-profit organization «World data center for Geoinformatics and Sustainable Development», according to which the sustainable development of a country is determined by the calculation of an additive indicator comprising a set of single indicators, in particular the macroeconomic infrastructure index and the innovation activity index. An analysis of dynamics of these indices for a selection of the world’s countries (Sweden, Norway, Denmark, Great Britain, Germany, France, South Korea, China, Japan, Bulgaria, Poland and Ukraine) was carried out. The dynamics of the baseline indicators for the period of 2005-2015, which are used to determine the level of innovation and economic infrastructure, as well as the level of expenditure on development of education, has been worked out in detail. The conducted study helped to identify the economic and innovative development of the Scandinavian, European, Asian and post-socialist countries, determine leaders by the components of such development and the preconditions for building their economic and innovation potential.

Article is written in Ukrainian

Panasiuk I. P., Tertychna A. O.
The Role of Budget Airlines in the Air Transport Market (p. 34 - 39)
The contemporary air transport market has been considered and analyzed, key aspects of the emergence of budget airlines (low-cost) in the air transport market have been highlighted. The main factors of influence on their functioning and international distribution have been allocated. On exploring the air transport market, it can be argued that low-cost airlines are gaining speed and spreading all around the world. This system was developed specifically for budget tourists and is particularly popular among students. Budget airlines are a profitable alternative to expensive airfares. As a rule, low-cost airlines refuse most traditional services to reduce the cost of transporting passengers, and hence the prices of flights. In the current phase of operation of the budget airlines, it is particularly necessary to study the reasons for such charity and the efficiency factor in providing cheap airfares. In spite of the tempting offer, there are some nuances that are subject of research.

Article is written in Russian

BUSINESS INFORM №6-2017

Sviatukha I. A.
The Worldwide Trends of Research and Development in the Sphere of Biotechnology (p. 13 - 20)
The article is aimed at studying the relationship between the way and scope of support for biotechnology development on the one hand and the chosen bioeconomic strategy on the other. The scale of expenditure by companies and governments in some countries on biotechnology research and development has been analyzed, and the leading states by the indicator of absolute and relative costs have been identified. The distribution of biotechnology research and development by the sphere of their application has been studied. A relationship between the size and source of financial support for biotechnology research and the bioeconomic strategy, adopted by the government of a given country, has been determined. Characteristics of the development of bioeconomy in the developed countries, particularly in the G-7 states, as well as in some developing countries, have been analyzed. A comparative analysis of two approaches to the government regulation and support: «bottom-up» and «top-down», which have a different degree of financial support for biotechnology research and bioeconomic development, have been carried out.

Article is written in Ukrainian

Telnova H. V.
The Comparative Empirical Analysis of the Impact of Tax Policies on the Country’s Economic Growth (p. 21 - 26)
The article is aimed at determining the impact of tax policies on economic growth through a comparative empirical analysis of the tax burden and its structure in the European countries. The carried out cluster analysis of the economic growth rate, tax burden and labor income taxation in 20 European countries allowed to determine that: countries with medium-to-low economic growth rates have the highest level of tax burden and labor income taxation; countries with low economic growth rates are characterized by a tax system with relatively low tax burdens and high taxation of labor income; countries with medium-to-high economic growth are applying a high level of tax burdens with a moderate taxation of labor income; countries with high rates of economic growth form a tax system with little tax burden and income taxation. It has been proven that countries that are able to mobilize tax revenues through adaptive tax structures and instruments have a greater impact on the long-term growth rates.

Article is written in Ukrainian

Demchyshak N. B., Shvets M. B., Mamchuk V. V.
The Decentralization and Directions of Strengthening the Local Government in Ukraine in View of Foreign Experience (p. 27 - 32)
The article is aimed at defining the basic elements of sustainable development of local self-government in view of foreign experience. Ways of introducing reforms to effectively mobilize and utilize the local government resources have been determined. Consideration was given to the theoretical aspects of decentralization, which served as the basis for the adoption of a democratic model of government in Ukraine. The introduction of decentralization of power was analyzed in the context of the real status of the reform, problems encountered in its implementation, and measures for their effective implementation at both the local and the State levels. The steps taken by the EU Member States towards decentralization and the possibility of applying foreign experience by Ukraine were compared. It is concluded that the introduction of decentralized processes would contribute to the strengthening of democracy in the State and enhancing its stability.

Article is written in English

BUSINESS INFORM №7-2017

Sitnicki M. W.
The Recruitment Organization of the Business Schools in Italian Universities (p. 43 - 49)
The article is aimed at studying the practice of Italian universities in the sphere of organizing recruitment at business schools. The article considers specifics of Italian business schools, which consist of their wide division by specialization and of flexible approaches to attracting students. The basic criteria for admission and training in Italian business schools have been generalized. Recommendations for Ukraine have been elaborated in view of the following needs: involving in the teaching process the practitioners, known in the world for their efficiency in the business sphere; balancing the price for providing educational services, developing flexible payment schedules, and setting up a discount system as well as scholarship programs for students with high learning results; revising curricula in line with the requirements of modern business environment; providing employment and career statistics for business school graduates; systematically improving the quality of education and concentrating on the efficiency indicators of a program for students, etc.

Article is written in Ukrainian

BUSINESS INFORM №8-2017

Dumikian A. К.
The Mechanism for Financing Budgetary Institutions in the Countries with Developed and Transformational Economies (p. 75 - 81)
The article is aimed at characterizing the features of function of the mechanism for financing the budgetary institutions in the developed and transformational economies and developing practical recommendations for its improvement in the context of economic transformation. The theoretical and practical features of financing the budgetary institutions in the countries with developed and transformational economies were considered. The main instruments for implementation of the mechanism for budget regulation in the context of globalization transformations have been characterized. The need to use the program-target budgeting method to enhance the impact of structural changes in the economy and the social sphere has been substantiated. The main priorities for budget financing in the developed and transformational economies have been defined for both the medium and the long term.

Article is written in Ukrainian

Muzychenko M. V.
The Conceptualization of Energy Security: the International Experience (p. 82 - 88)
The article reviews and analyzes existing interpretations of the term of «energy security», which are used by international organizations, individual countries, and foreign scientists. As result of a generalization of the numerous existing conceptual-methodical and substantive approaches to the definition of energy security, its main components and possible ways of its ensuring, it has been found that the concept of energy security includes many multifactor components that are interconnected by numerous functional linkages, including economic, political, social, and ecological aspects. The issues related to geology, geography, and time factor have impact on interpretation of energy security. But in general, energy security can be seen in a one-aspect dimension that is largely based on the security of energy supplies (availability of energy resources) and in a multi-aspect dimension which, in addition to the security of energy supplies, also takes into consideration a number of other important interrelated aspects of energy security, particularly in the areas of accessibility of energy resources, energy efficiency, and environmental safety.

Article is written in Ukrainian

BUSINESS INFORM №9-2017

Shuba O. А.
The Renewable Energy Sources of the «Green» Economy – a Modern Global Trend (p. 19 - 25)
The article is aimed at studying the current status of use of the renewable energy sources in the selected regions of the world. The current status of use of the renewable energy sources (hydro, solar, and wind) in the electricity generation in Europe, CIS, Asia and Africa has been analyzed. It has been noted that in the European countries the renewable energy sources dominate in the overall electricity generation. Also the problem of CO2 emissions from fuel combustion has been considered. The States with the highest values include China, the United States, India, Russia, Japan, Germany, Iran, the Republic of Korea, Saudi Arabia, and Canada. On generalizing the goals of the «green» economy as proposed by scientists, it has been defined that all of them envisage the creation of a fundamentally new environment for economic and social progress that would minimize negative impacts on the environment and, finally, would provide the efficient use of natural resources to raise the standard of living of population.

Article is written in Ukrainian

Otenko P. V.
The International Employment Protection Practices (p. 25 - 29)
The article discusses the need for corporate protection of staff in accordance with both the European and the International labor law. The author defines the essence of the category of «protection of staff», its constituent elements and the importance of function of this mechanism in terms of corporate security. The main methods used in the international practice to achieve a high degree of protection of staff have been systematized and presented. The main stages of development and tendencies concerning the formation of instruments for protection of staff have been analyzed, and the principal indices to assess the degree of protection of staff have been determined.

Article is written in English

Kalyta T. A.
The Theoretical and Practical Aspects of the Foreign Experience of Financing Investment in the System of the State and Business Partnerships and Its Implementation in Ukraine (p. 29 - 34)
The article explores the foreign experience of development and implementation of public-private partnership (PPP) and its role in the economic development of the country. The main characteristics of PPP in different countries have been provided and the main regularities together with criteria for selecting the PPP kinds and characteristics, depending on the type of economic and financial system have been defined. It has been determined that PPP increases the financial opportunities for investment in the socially significant projects. PPPs are most common in developed countries (UK, United States, France, Germany). As for the experience of the «intermediate countries in the sphere of PPP development», the public-private partnership is developed at the institutional level in these countries. Among the «countries that are late in the PPP implementation», the Poland’s experience has been observed, among the countries of the former CIS – the experience of Kazakhstan. It has been identified that PPP is based on the following principles: a focus on the national or the regional development, attraction of more than 50 per cent of non-budget financing, promotion of innovation, and establishment of the special State institutions that regulate PPPs and of relevant legislation. Also the advantages and disadvantages of PPPs for investment financing have been analyzed and the major development tendencies have been defined.

Article is written in Ukrainian

Mamuladze G. A.
The Marketing Problems of Food Markets in Georgia (p. 35 - 38)
In the presented article, the theoretical and practical aspects of food marketing are studied and analyzed. The food marketing advantages are identified and the tendencies in the sphere of food production in Georgia are evaluated. It is noted that Georgia, with its natural and climatic conditions, can produce environmentally friendly products in an amount that will almost entirely satisfy the home market demand, the part of it is possible to export. The State plays an important role in the development of the agricultural sector, but there is also the need to pay special attention to formation of the correct marketing strategies, in order to define the company’s prospects for the development and provide the assessment of innovation potential.

Article is written in English

BUSINESS INFORM №10-2017

Kolomyichuk D. I.
The Development Tendencies of Nigeria as a Major Economic Center in West Africa (p. 50 - 55)
The article carries out an analysis of Nigeria’s economic development tendencies. This country is one of the largest economies in West Africa and is heavily dependent on oil production as the main source of both foreign currency earnings and public funds. On the basis of the study of Nigeria’s main socio-economic indicators, it has been concluded that the country’s economy is being actively developed, although it is encountering a number of problems in its path. These problems relate primarily to low economic efficiency (in agriculture and oil production), activities of the underground sector, which exacerbate the existing difficulties and the low standard of living of the population. The value of the Nigerian index of involvement in international trade was analyzed. It has been concluded that in 2016 the indicators on the internal market access, accessibility and quality of transport services have deteriorated in comparison to 2014. However, the status of external access to the market and the use of information and computer technology has improved. The directions of improving the efficiency of Nigeria’s external trade have been indicated.

Article is written in Ukrainian

Duna N. H., Kukhar E. I.
The Financial Factors for the Development of Education Sphere in Germany (p. 56 - 60)
The article is aimed at determining the key financial factors in the development of current education sphere in Germany. The topicality of optimizing the financial support for this sector as the main factor in improving the quality of human potential has been substantiated. The main sources of financing for German education have been defined. The article identifies an interest in training highly skilled workers on the part of both the State and private investors along with public organizations. The dynamics and structure of financial support for the education sphere were analyzed. The system of targeted material assistance to pupils and students was considered. The applied and innovation-directed nature of public policy in the education sphere has been identified. It has been concluded that the effective financing of education as an innovation sphere ensures a high rate of socio-economic development and the increased competitiveness of the national economy.

Article is written in Ukrainian

Otenko P. V.
The International Methodologies of Assessment of Employment Protection (p. 61 - 65)
This article is concerned with International methodology of assessment of employment protection. The main problem that is raised in this article is the following one – what indicator and criteria should be used in order to determine the degree of employment protection in a particular country? Author outlines and comprises the basic indicators that were created by the leading institutions: the OECD, the World Bank and Cambridge Center for Business research. The positive as well as negative consequences and also an influence of having a stringent degree of employment protection on the areas like productivity, labor market, labor market flows, etc. are described and discussed. Author also suggests different steps that should be taken in order to reform the current situation and solve problems in the labor area. Three possible ways of how to reform and enhance employment protection are analyzed and characterized.

Article is written in English

BUSINESS INFORM №11-2017

Isaieva N. І.
Strategy as Instrument and Result of Strategizing (p. 41 - 46)
The process of strategic management of socio-economic development in Ukraine today requires substantial modernization, using modern technologies and instruments. A study on experience of strategizing in some countries confirms that the national strategy for socio-economic development in the long term is the main instrument for implementing the country’s priorities and goals in terms of development. Long-term national development strategies, despite the differences between the countries of their origin, have very much in common in structure and basic components. All socio-economic development strategies analyzed determine the choice, consistency and interrelatedness of public measures in the sphere of socio-economic development in the context of resource constraints. The basis for this is a thorough analysis of the results achieved and the existing challenges, a clear understanding of the country’s development goals and objectives in the long term perspective. The publication defines the stages and conditions of formation, as well as the structure of an effective national strategy.

Article is written in Russian

Pysmenna M. S.
The International Experience in Public Procurement (p. 47 - 51)
The article is aimed at generalizing the foreign experience of implementing public procurement, analyzing peculiarities of organizational, normative and procedural provision of public procurement in the Member States of the European Union. The relevance of the research topic is due to the need to harmonize the procurement policy of the Government of Ukraine with the international legal framework and with broad political objectives within the European integration strategy. The organizational framework and principles of implementing public procurement in the EU Member States were analyzed. Special attention was paid to normative provision of public procurement by the EU Member States; peculiarities of the use of national or harmonized rules of public procurement in accordance with the amount of the procurement contract; restrictions and conditions for public authorities in the selection of applicants for bidding. Five types of public procurement procedures used in the EU have been characterized, namely: open procedure, limited procedure, negotiation procedure, competitive dialog, electronic auctions. The need to address the social and legal aspects of public procurement in international practice has been substantiated and the possibilities for resolving these problems have been presented.

Article is written in Ukrainian

Bubenko P. T., Panova O. D.
The European Dimension of the Global Urban Development Program (p. 52 - 60)
The article is aimed at studying the process of evolutionary formation of the EU Cities Development Program and analyzing the strategic instrumentarium for the urban development within the currently established EU urban policy at the present stage. The key features of the process of formation of the EU urban policy have been analyzed, the main stages of evolutionary formation of the integrated EU Cities Development Program have been defined and described. In the context of ensuring an integrated approach to the sustainable urban development and complementary positioning of urban development in the EU’s territorial development and cohesion strategies, the European Union’s normative and legal framework on urban development was researched. As a result of the conducted research, the strategic instrumentarium of implementation of the EU Cities Development Program has been systematized.

Article is written in Ukrainian

BUSINESS INFORM №12-2017

Dobroskok I. B., Mikhajlova L. V.
The Production Innovation Technologies and Their Role in Current International Economy (p. 43 - 47)
Innovations in the sphere of production technologies were considered; priorities of the USA, China and the EU Member States in the area of innovation production technologies were analyzed. It is determined that the characteristic feature of the current stage of development of innovation activity is education in the largest firms belonging to the joint scientific and technical complexes. The special attention is given to the most advanced production technologies, among which it is possible to allocate technologies of computer engineering, additive technologies and directly "factories of the future". As result, the most important advantages of these innovative technologies have been suggested.

Article is written in Ukrainian

Romanova A. A.
The Peculiarities of the Outbound Tourist Market of China (p. 48 - 53)
The outbound tourist market of China was analyzed as the priority target audience of consumers of the Ukrainian tourism product. A wording of the diplomatic preconditions for development of tourism relations with the People’s Republic of China and the partner countries of the economic and humanitarian project «One Belt, One Way» has been provided. The main characteristics of the outbound Chinese tourist market have been allocated and researched: hyper size; significant purchasing power; sustained growth pace; priority of Asian destinations, at the same time emergence of interest in the EU and Russia; organization, group character; seasonality; short-term traveling; cluster (combined) travels; predominance of women tourists; priority of on-line booking of tours; peculiarities of travel behavior; predominance of certain types of tourism; preference of national Chinese cuisine, etc. These peculiarities of the Chinese outbound tourist market must be considered when developing tourism product for the Chinese and creating a strategy to increase the tourist flows from China to any destination and tourism facility. Recommendations for the entities of tourism activity which plan to work with the Chinese consumer of the national tourism product have been formulated.

Article is written in Ukrainian

Sitnicki M. W.
The Strategy for Development of Educational Services and Educational Programs at the University of Warsaw (p. 54 - 59)
The successful experience of the main educational and scientific institution of Poland – the University of Warsaw in formation and implementation of own strategy of development of educational services and educational programs under conditions of Polish membership in the European Union was researched. The model of the development system of the University of Warsaw has been built, based on its eleven main elements, reflecting the main strategic directions of development, which provide the basis for development of the University in the strategic perspective. The most important directions are described, which are pivotal and development-inclusive: concept of Open University; expansion of existing and creation of new training programs of an interdisciplinary nature; selection and education of scientific and pedagogical staff; training and practice of students; postgraduate education; launching of training programs in foreign languages, internationalization of education; paid tuition; scholarship programs of the University; promotion of outstanding didactic activities through the Foundation for didactic innovation; organizing the recruitment of candidates for training; quality of education. The scientific and practical results of this research will be useful for the top-level managers engaged in the development and implementation of strategies for higher education institutions and research universities in Ukraine.

Article is written in Ukrainian

SarnetskaYana А.
The Poland’s Experience in Fiscal Decentralization and Prospects for its Use in Ukraine (p. 60 - 64)
The article is aimed at defining theoretical and methodological bases of development of local finances, analyzing decentralization of power, which is the purpose of redistribution of powers between local self-government bodies and the State authorities in the process of reform. Development of the process of decentralization in Ukraine and abroad has been researched; problematic aspects of the decentralization process and the main changes in the legislation of Ukraine have been disclosed. The current status of decentralization of local budgets has been assessed; the main problems in local self-government of Ukraine have been identified, and the status of decentralization in foreign countries has been analyzed. Ways to improve implementation of decentralization reform in order to ensure sustainable development of territories have been suggested. On the basis of the theoretical principles of fiscal decentralization significant ways to increase the level of decentralization in Ukraine, related to the transition from theoretical aspects of the reform to concrete practical implementation, have been analyzed and substantiated.

Article is written in Ukrainian

Khomutenko L. I., Tereshchenko A. S.
The Contemporary Positions of China in the Conditions of Globalization (p. 65 - 71)
The current geopolitical situation testifies to a noticeable strengthening of China’s role in the world. The article describes China as the country that occupies a leading position in the world trade. The current status and prospects of development of economy of China in conditions of globalization development were researched. Both the qualitative and quantitative character of the current level of economic integration processes of China with the world economy are described on the basis of the data analysis by the Ministry of Commerce of China. The volume and extent of the China’s FDI movement were analyzed; new trends in the geography of progress of Chinese investments in the EU Member States were identified. The article elucidates current tendencies of development of economic cooperation of China with the world countries, strengthening of which is considered as a result of increasing competitiveness of the PRC. The main directions of cooperation, their advantages and disadvantages, as well as possible future prospects were considered. It has been determined that foreign trade and investment activities of the country will be noticeable in the world because of their scale and intensity. The instruments for ensuring the economic influence of China have been disclosed.

Article is written in Ukrainian

Turskyj I. V.
The International Experience of Regional Development of Creative Industries (p. 72 - 79)
The article is aimed at generalizing the international experience of regional development of creative industries and defining directions of its implementation in Ukraine. The experience of the world countries on regional development of creative industries has been generalized, tendencies and specificity of these development processes have been identified. The interrelation of the process of development of creative industries with innovation development of regions has been defined. Prospects for development of creative industries in regions of Ukraine have been identified and directions of implementation of foreign experience have been suggested. Thus, strategic measures for the development of creative clusters can be the corresponding priorities of cultural policy in the regions, the development of specific projects and programs, the opening of art-incubators, the creation of a favorable investment climate, financial and tax incentives as conditions for interaction between creativity and business. The scale and dynamics of the world’s creative sector, which has a significant potential for growth and less vulnerability in financial-economic crises compared to the traditional sector, gives chance to high expectations for the development of creative industries in Ukraine as well.

Article is written in Ukrainian

BUSINESS INFORM №1-2018

Vdovychenko L. Y.
The State Supervision (Control) in the Sphere of Economic Activity: International Experience Relevant for Ukraine (p. 35 - 41)
The attempts in the process of decentralization in Ukraine to implement the best international practices of the State supervision (control) in the sphere of economic activity, in the process which depends on the status of deregulation and development of entrepreneurship, have caused the topicality of the problem set. The article is aimed at analyzing the international experience of application of the State supervision (control) instruments in the sphere of economic activity and determination of the directions of their use in Ukraine. The stages of reforms of the control and supervision activity both in foreign countries and in Ukraine were considered. The directions and measures on creation of effective system of the State supervision (control) in the sphere of economic activity, applied in the world countries, were systematized. Both the positive and the negative aspects of use of foreign instruments of the State supervision (control) in the sphere of economic activity in Ukraine have been defined. Recommendations on formation of the national complex system of functioning of control-supervision activity have been given.

Article is written in Ukrainian

BUSINESS INFORM №2-2018

Ostrovska O. A., Usherenko S. V., Kharchenko Y. Y.
The Innovations of the Czech Bankruptcy Law and Expediency of their Implementation in Ukraine (p. 40 - 45)
Recession in the economy and bankruptcy of a number of financial institutions in Ukraine actualizes research on foreign experience in the settlement of issues of bankruptcy and restoration of solvency of companies in the EU countries, which are characterized by stability of the economic-legal institutions of entrepreneurship and the financial-credit system. Researching these issues is also aimed at harmonizing Ukrainian legislation on bankruptcy with the European legal system acquis communautaire. In this context, the experience of the Czech Republic (Czechia) is noteworthy. According to the results of a study of the peculiarities of legislative regulation of bankruptcy procedures and restoration of solvency of debtors in the Czech Republic, their effectiveness has been evaluated, and the conclusions have been made about that the Czech legislation as a whole promotes restoration of the debtor’s solvency and continuation of its entrepreneurial activity further on. Certain norms, such as the determination of bankruptcy criteria, the solvency of debtor, the innovation approach to disclosure of the category of «presumption of solvency», and the settlement of the institution of moratorium as a way of a rapid recovery of solvency of debtor together with the procedures of its reorganization – have prospects of implementation in the national practice of drafting bills in order to improve the current legislation on bankruptcy.

Article is written in Ukrainian

Lymar V. V.
The Institutional Support for the Development of Knowledge-Based Bioeconomy: the European Experience (p. 46 - 51)
The article is aimed at researching the European experience of institutional support for the development of knowledge-based bioeconomy, as well as identifying the factors contributing to formation of bioclusters and bioregions. The knowledge-based bioeconomy is a transformation of the knowledge of life sciences into new, stable, ecological and competitive products. In terms of efficiency, the knowledge-based bioeconomy represents the stable management, production, and use of renewable biological resources, based on knowledge of life sciences and biotechnology. The following activities are proposed to support the development of knowledge-based bioeconomy: improvement of cluster policy; development of the transnational cluster cooperation; support for existing clusters; facilitating the integration of innovative small and medium-sized firms into clusters. Criteria of formation of the structure of biocluster have been defined as follows: quality of research and advanced development, which will be carried out within cluster; quality of education in the relevant industries; dynamics of creation of new and innovative firms in region; attraction of regional innovation potential, internationally known scientists, and also foreign investments; availability of regional tools to support innovation; demand on the part of public sector.

Article is written in Ukrainian

BUSINESS INFORM №3-2018

Hnedina K. V.
Using the Financial Instruments for Electric Energy Industry Modernization: the Experience of European Countries (p. 60 - 70)
A review of the financial instruments used in the European countries to modernize the electric energy industry has been undertaken. A review of the European practices indicates that financial support for the electric energy industry modernization projects is financed by such instruments, mechanisms and incentives as «green» tariff, «green» certificates and «quota obligations», «green» bonds, auctions, concessional lending, grants, investment subsidies. Venture capital investment is a common form of financing for electric energy industry modernization in the European countries. It has been determined that «green» bonds are an effective instrument that allows to accumulate significant amounts of funds and direct them to the renewable energy industry. Nowadays a significant number of renewable energy industry projects in the EU countries have already been implemented at the expense of the funds obtained from the «green» bonds issue. «Green» bonds are a pivotal promising financial instrument for the modernization of electric energy industry in the European countries. Formation of the mechanism for their issue in Ukraine, taking account of the foreign practice of creating a market of «green bonds», will allow to accumulate the financial resources that are necessary for development of the renewable energy industry.

Article is written in Ukrainian

Tsarenko I. O.
The quality management system in educational institutions of the Slovak Republic: Impact on the Ranking’s position (p. 71 - 80)
The purpose of the study is to verify the level of impact of Quality Management System (ISO 9001:2000) on the ranking university on an example of Technical University in Kosice. This article presents detailed analysis of the tools of ensuring quality in European Educational Area, the international standard ISO 9001-2000 "Quality Management System — Requirements" and correlation-regressional analysis of relationship between faculties' positions in ARRA Ranking of Technical University in Kosice and and the implemented quality management system. The own research gives the consciousness about the considerable impact of the quality management system in educational sphere nowadays, when the requirements to it are increasing so fast. It can be stated that quality in educational process is understood as the conformity to the defined, juridically proclaimed, standards of Educational Area. An interesting area of further research would be implemented process of certification quality management system at universities in Ukraine as an approach of increasing position in international rankings. The paper provides the analysis of relationship between faculties' positions in ARRA Ranking of Technical University in Kosice and and implemented quality management system.

Article is written in English

Otenko P. V.
Comparative Analysis of Grounds for the Commencement of Insolvency Proceedings (p. 81 - 85)
This article is called comparative analysis of grounds for the commencement of Insolvency Proceedings. The problematic issue that was raised is the following one – is it necessary to harmonize grounds for the commencement of insolvency proceedings within the EU? Author outlines and examines two basic grounds for the commencement of insolvency proceedings: cash-flow and balance sheet insolvency tests, their interpretation and application under English, German and Lithuanian laws. Comparative analysis of these laws has showed that each country specifies and understands concepts of cash-flow and balance sheet insolvencies in the different manners, applying different indicators for their determination. Taking into account gained results, it is desirable and advisable to harmonize grounds for the commencement of insolvency proceedings within the EU in order to facilitate economic and investment climates in its Member States.

Article is written in English

Vatamaniuk-Zelinska U. Z., Fikovska M. Y.
The European Experience of Local Government Reforms (p. 85 - 89)
The article is aimed at researching and analyzing the process of decentralization and deconcentration of the European countries’ authorities, determining the efficient possible directions of its application in Ukraine. The results of implementation of the reform of administrative-territorial structure in Ukraine were analyzed. The dynamics of formation of new joint territorial communities and filling of local budgets at the expense of own proceeds were considered. The relevance of the experience of European countries, which provides for two stages of decentralization, is substantiated. They are based, firstly, on the transfer of all powers in the sphere of budget services to local governments; secondly, on ensuring the financial independence of local authorities. Improvement of the managerial decision-making process at different levels of government should be carried out primarily through consultations with the civil society institutions.

Article is written in Ukrainian

BUSINESS INFORM №4-2018

Bila D. V.
The Regulation of Insurance Companies’ Activities in the European Union (p. 33 - 39)
The article is aimed at studying the experience of the European Union countries on regulation of the insurance companies’ activities for its efficient use in Ukraine. The European Union's insurance directives were considered, which allowed to form a single insurance market of the Member States, removed restrictions on the activity of branches, defined the basic principles of conducting economic activity of insurance companies, the main of which were: licensing procedure; requirements to solvency, capital, insurance reserves, transparency of activity and reporting of insurance companies, professionalism of managers, decency of owners of insurance companies. The changes of the regulatory requirements depending on the changes of external environment are analyzed, advantages of new risk-oriented regulation in the European Union are allocated, and the main problems disclosed at introduction of Solvency II are generalized. The measures to be taken in the implementation of Solvency II in Ukraine are proposed, the main of which are: determination of the time horizon of implementation and the phased planning of implementation of Solvency II, development of the reporting system of insurance companies, implementation of an effective communication system between the State regulatory body and insurance companies.

Article is written in Ukrainian

Abakumenko O. V.
The Experience in the Use of Financial Instruments of Electric Energy Industry Modernization by the Countries of North America (p. 40 - 47)
The article is aimed at generalizing the experience of the countries of the mainland North America with regard to the introduction of financial instruments to modernize the electric energy sector. The article systematizes the available data, combinations of financial instruments are grouped by country. The assessment of efficiency of the implementation of a combination of instruments was carried out on the basis of data on transformation of the technological structure of electric energy generation in 2015 compared to 2000 (for Belize the comparison was carried out since 2006). The traditional technologies included the production of electricity using fossil fuels (coal, oil, gas, nuclear fuel). The energy of water, wind, geothermal sources, waves, biofuel was related to renewable. Special attention was paid to gas as fuel for power plants, as it is much more environmentally friendly in terms of combustion products. As a result of the research, there was a conclusion about the secondary role of government initiatives in the transformation of the electric energy sector versus the objective factors of economic reality and the increasing role of the proposed by the State financial instruments in the determining periods when the power industry is on the verge of different states or tendencies of development.

Article is written in Ukrainian

BUSINESS INFORM №5-2018

Shkrabak I. V., Dotsenko N. O.
Systematizing the Foreign Experience on Motivation and Stimulation of Labor Activity (p. 50 - 55)
The article is aimed at studying and systematizing the experience on motivation and stimulation of staff in the developed foreign countries, the schemes of usage of additional wages. The current schemes of motivation of labor in the countries of the European Union are allocated. The additional pay components and the pay components related to labor productivity are analyzed. The percentage of European workers receiving remuneration for work is determined, as well as the changes that occurred during the period of 2000-2015 are specified. The characteristic features of the system of motivation and stimulation of staff in Sweden and Finland are allocated and described. The methods of remuneration, practical experience on motivation of staff in the foreign countries are generalized. The carried out comparative analysis of the main types of motivation will be useful in the formation of motivation system at domestic enterprises, will help to keep valuable personnel at the current level of wages, motivating the company’s personnel to more productive work.

Article is written in Ukrainian

Duna N. H., Kukhar E. I.
The Cultural Basis of Socio-Economic Development of Germany (p. 56 - 60)
The article aims to define the role of cultural peculiarities in the socio-economic development of Germany. The main factors of formation of the German national culture are considered and the interrelation between them, features of national character, and the model of socio-economic system of the country is analyzed. Thus, the cultural conditionality of the economic development of Germany and its innovative character is defined. The priority importance of traditional values in public, political and economic life of the State is identified. Features of public-private-social partnership in the direction of supporting of cultural sphere are determined. The conclusion is made that the combination of traditional conservativeness and creativity in German culture and economy as a fundamental basis for achieving a high level of development is unique. The necessity of taking into consideration the globalization factors of influence on both the internal culture and the socio-economic system for preservation of national identity is substantiated.

Article is written in Ukrainian

Sincheskul I. L.
The Foreign Experience of Organization of Activity of Heat Supply Enterprises at the Local Level (p. 61 - 67)
The article is aimed at studying the practice of organization of activity of heat supply enterprises in developed countries at local level. As a result of the research it was determined that the problems in heat supply are international, and those, which now arise before the Ukrainian thermal power industry, already had to be solved in the European countries. The reforms carried out therein have led to the fact that at almost all European thermal power companies the main directions were modernization of enterprises on the principles of innovation policy, restructuring of management practices, and weighted (flexible) tariff policy. It is substantiated that sustainable development of thermal power engineering at the local level requires transition from the model, in which the priority element is production, to the model, where the main attention is paid to the consumer, that is the transition to the management of interrelationships. And one of the basic principles of reforming and development of heat supply should be the renewed mechanism of cooperation between all stakeholders. Prospect for further research in this direction is to determine the peculiarities of the implementation of this model in Ukraine.

Article is written in Ukrainian

Нaponenko H. I., Kulikovskaya D. N.
Using the Experience of Japan in the Establishing of National Model of Economic Development of Ukraine (p. 68 - 73)
The article is aimed at studying the Japanese experience on formation and implementation of the national model of economic development and elaborating on its basis recommendations, which can be useful in the formation of domestic economic policy. It is specified that the system that is functioning in Japan enables the private sector and the Government to cooperate in order to reach common national ideas quickly and effectively. Unlike the Japanese practice, development of the national economy of Ukraine, and in particular international trade, is hampered by the imperfection of methods of the State regulation of the economy, and the underdeveloped market economy institutions. It is emphasized that the Government of Japan is interested in developing cooperation with our country in the sphere of trade, development of infrastructure, industry, agro-industrial complex, as well as energy-saving technologies. As a result of the analysis, the main vectors, which are based on the experience of Japan and should be guidelines to Ukraine, are disclosed.

Article is written in Ukrainian

BUSINESS INFORM №6-2018

Kovalenko L. O., Lukiashko P. O., Hnedina K. V.
The Experience of Using Financial Instruments of Modernization of Electric Power Industry by the Countries of Post-Soviet Space (p. 40 - 52)
The article is aimed at generalizing the experience of the post-Soviet countries on introduction of financial instruments of modernization of electric power industry sector. The article systematizes data on use of financial instruments of modernization of electric power industry by the governments of the former USSR countries. In addition to grouping of financial instruments by countries, was also assessed the transformation of structure of electricity production in the context of primary sources for 25 years (1990–2015). Attention was paid to renewable and fossil energy sources, with allocation of natural gas in the structure of the latter as more ecologically sustainable. As a result of the carried out research, the conclusion was obtained about the determining role of objective factors in the development of the country’s economy in the technological transformation of its electric power industry sector, while government actions to implement financial instruments for stimulating this process were generally of secondary importance.

Article is written in Ukrainian

Shchurovska A. Y., Nurmamedova Rabiya
The Influence of Telecommunication Development on the Economic Development of Turkmenistan (p. 53 - 58)
The article is aimed at identifying the regularities of telecommunication development as a complex sphere of economy, the correlation relationship with the economic growth of Turkmenistan, the regularities of consumption and macro generation of telecommunication services. The relevance of the chosen topic is substantiated, as rapid transformations, convergence of networks, services, systems and technologies in the sphere of communication and informatics dictate the necessity to research the regularities of development in relation to the national economy. It is shown that the rapid development of modern telecommunications significantly impacts the socio-economic development of many countries, including Turkmenistan. The study, carried out in the article, allowed to determine the uniformly accelerated dependence of growth of number of Internet users and subscribers of mobile phones from the level of GDP deflator, on the basis of which it is proved that proportionally-anticipatory regularity of telecommunications development is transformed into the anticipatory-accelerated.

Article is written in Ukrainian

Pedchenko N. S., Kimurzhiy M. I.
The Adaptation of Foreign Experience of Management of the Development Potential of Enterprises of Housing and Communal Sector to Ukrainian Practice (p. 59 - 68)
The article is aimed at studying, systematizing and comparing the experience of management of the development potential of housing and communal services of foreign countries with Ukrainian practice. Analyzing and estimating the main advantages of the world experience of management of the housing and communal services sector, the possibilities of its adaptation to the Ukrainian realities are determined. The phased approach to introduction of the world experience of management of the development potential of housing and communal services, giving attention to peculiarities of separate management of spheres of housing and municipal economies in foreign countries, is proposed. The general tendencies in activity of housing and communal utilities of the Eastern Europe countries and the Baltic States are researched and the influence of activity of these enterprises on social protection, provision and standard of living of population is analyzed. Emphasis is made on the experience of the State support of financing the capital repair and modernization of apartment house. The differences in the formation of tariff policy both in developed countries and in Ukraine are defined, on the basis of which the authors have developed the prospective, adapted to domestic conditions, directions of improvement of the management of enterprises of housing and communal services in Ukraine. Prospects for further researches in this direction are definition of practical recommendations and tactical actions on adaptation of the positive world experience of management of the development potential of enterprises of housing and communal services in Ukraine.

Article is written in Ukrainian

BUSINESS INFORM №7-2018

Melnyk O. H., Todoshchuk A. V., Adamiv M. Y.
French Experience in Establishing and Functioning of Customs System: Projection to Ukraine in the Conditions of European Integration (p. 38 - 43)
The article is concerned with researching the experience of France on establishing and functioning of customs system and substantiating the priority vectors of reforming the customs authorities of Ukraine in the conditions of European integration. The study was based on a study of the basic principles of organization of customs authorities in France, strategic and tactical directions of their work and an analysis of the main results of their functioning. The obtained results allowed to uniquely position the French customs system as such that prioritizes customs function and is aimed at promoting legitimate international trade together with maintaining national security. Also a study on the key problems of the national customs system was carried out, on the basis of which a comparative analysis of the customs authorities of Ukraine and France was done. This allowed to identify the main problem of the national customs system associated with the functioning of customs authorities in the structure of the State fiscal service of Ukraine and prioritization of fiscal function. According to the results of the research, the need to create a separate body – the National customs service, which will primarily ensure the development of the customs sphere, has been substantiated.

Article is written in Ukrainian

Shlapak A. V.
Implementing the Instrumentarium of the U.S. Support for Exports of National Companies: Theory and Practice (p. 44 - 50)
The article is aimed at studying the State export strategy of the United States of America through the implementation of efficient and even aggressive, in terms of export expansion, mechanisms and instruments to support national exporters. This instrumentarium covers a range of levers, namely, provision of export credits, credit guarantees and export insurance to national companies; the State economic assistance to American exporters; facilitating their access to import components for the expansion of export production; provision of credit guarantees to exporters of agro-industrial complex products, etc. The main feature of the national System of State support of the U.S. exports is the market priority while maintaining the maximum economic freedom of economic entities along with creation of equivalent conditions for conducting their business activities. The strategic priorities of entering foreign markets are always determined by the exporters themselves and, when necessary, they can apply for the State support through the relevant local and federal authorities.

Article is written in Ukrainian

Tochylina I. V.
Applying Tax Benefits to Support the Higher Education Sphere: Comparison of Experience of the Countries of OECD and Ukraine (p. 51 - 56)
The article is concerned with researching the role of tax benefits in the financial provision of the higher education sphere. The publication is aimed at analyzing the practice of applying educational tax benefits in Ukraine and world-wide, finding relationships between the amounts of such benefits and the costs for services by educational institutions from private sources. The experience of application of such privileges in Ukraine is provided, in particular the dynamics of granting of educational tax benefits on both VAT and income-tax are analyzed. The problem points connected with estimation of efficiency and stimulating influence of the given instrument in Ukraine are defined. Result of tax benefits is the loss of revenues of the State budget, in world practice they are qualified as tax expenditures and are equated to an alternative form of direct budget expenditure. Based on the analysis of the amount of tax expenditures in the education sphere in the USA, Canada, Korea, Great Britain, Spain and Germany, there is a proven relationship between the provision of educational tax benefits and private spending in the higher education sphere.

Article is written in Ukrainian

BUSINESS INFORM №8-2018

Vertai S. P., Khmialnitski V. I.
Reforming and Integration of the Electric Power Industry of the Republic of Belarus (p. 38 - 43)
The article is aimed at identifying ways of reforming the electric power industry of the Republic of Belarus through comparative analysis of the transition process in the European States. After analyzing and systematizing the available information, facts and opinions of authors on the problem of liberalization and reforming of energy industry, the basic stages, results and problems of conducting changes in the industry are defined. The result of the analysis and systematization involves the use of the French model of reforming the industry, implying unhindered access of companies to the market, preservation of existing capacities for the State-owned company, appearance of instruments for integration into the regional electric power market. As the future development of the research is considered the formation of a strategy of sustainable development, which lays down the conceptual provisions concerning development of the industry on the basis of the French model. Materialization of a full-featured conception will provide solution of basic problems of enterprises for generation and distribution of electric power, will become the starting point in a solution as to transition to the free, regional market of electric power.

Article is written in Russian

BUSINESS INFORM №9-2018

Ivanova O. Y., Sevostjanova G. S.
Organizing Public Procurement in Ukraine and the European Union Countries (p. 41 - 47)
The article is concerned with the topical issues of improving the competitiveness of the national economy by improving the procedure of public procurement. The article is aimed at identifying the features of organization of public procurement in Ukraine and comparing it with the organization of these procedures in the countries of the European Union, which would reveal shortcomings of the Ukrainian model of public procurement, and developing recommendations as to overcoming them and approximation to the standards of the European Union. The mechanism of organization of procurement procedures in accordance with the EU directives has been determined, the analysis of both centralized and decentralized models of public procurement in the EU countries has been carried out. A comparative characterization of organizing the domestic electronic system of public procurement and the Georgian and European ones was carried out. The stages of procurement in the EU organizational model, which are absent in the Ukrainian model and require implementation to improve the efficiency of public procurement procedures, are defined.

Article is written in Ukrainian

BUSINESS INFORM №10-2018

Chelombitko T. V.
The Current Tendencies and Prospects of Innovative Development of Anhui Province as a Strategically Important Region of China (p. 75 - 81)
The article is aimed at defining the current tendencies and prospects of innovative development of Anhui Province as one of the leading regions of China, basing on critical analysis of quantitative socio-economic indicators of the province’s economy. It is substantiated that China’s economic progress largely depends on the sphere of innovation, namely, the innovative achievements of each individual region of China. Anhui Province is a strategically important region with rich resources and a high level of economic development. It is determined that with the purpose of development of new industry of innovative type in province active introduction of the newest technologies in traditional production is carried out, financing of educational institutions and centers of scientific research is provided, the interaction between the industrial and research industries is intensified. It is determined that the policy of local authorities on attraction of investments and deepening of international cooperation are important components of innovative success of Anhui Province, that is the source of foreign capital, foreign technologies and qualified scientific personnel. The main regional problems constraining innovation achievements are also identified, and the main directions of development are allocated, which will provide an opportunity to increase the activity level of Anhui Province innovation activity.

Article is written in Ukrainian

Shytikova T. V.
The Foreign Experience in Determining the Attractiveness of the Tourism Sector in Foreign Countries (p. 82 - 87)
The article is aimed at deepening the theoretical aspects of foreign experience in determining attractiveness of tourism sphere in foreign countries. The ways that the researchers of this issue have used in determining the attractiveness of the destination and the factors influencing tourists in choosing a place of rest are considered. The main methods of evaluation of attractiveness of destination on the example of Slovakia, Croatia and Seville (Spain) are allocated, the process of selection and analysis of the obtained information is detailed. Prospects for further research are improving the approach to determine attractiveness of the tourism sector and developing the attractiveness coefficient that would characterize the Carpathian region most.

Article is written in Ukrainian

Malaba Kaumbu Blaise
The Historical Background and Current Status of Economic Development of African Countries (p. 88 - 95)
The article is aimed at identifying the historical background and current status of economic development of African countries. It is analyzed how the colonial legacy of European reign affected the post-colonial economic development of the countries of sub-Saharan Africa. Very often the literature discusses the significant differences between Great Britain, France, Belgium and Portugal regarding the respective styles of colonial governance. Some researchers have come to the conclusion that the difference in colonial governance has affected the post-colonial economic and political development of African countries. We affirm that, in general, colonial rule has not created a solid foundation for economic development. However, we agree that the British style of governance has been more effective, as most of the countries formerly under British administration are progressing significantly in comparison with other African countries.

Article is written in Ukrainian

Ryeznikov V. V., Motorina V. Y.
The Features of Functioning of Economic and Diplomatic Institutions of the Kingdom of Spain (p. 96 - 101)
The article is aimed at analyzing the features of activity and structure of economic and diplomatic institutions of the Kingdom of Spain. The publication presents a schematic structure of the economic and diplomatic institutions of the Kingdom of Spain, describing their activities. The interaction of these institutions and their influence on implementation of foreign policy and economic objectives of the Kingdom of Spain on the international arena is demonstrated. On the basis of an analysis of economic and diplomatic components the scheme of construction and functioning of the mentioned State institutions, their structure, tasks and features of activity is presented. It is proved that the Ministry of Foreign Affairs and Cooperation of the Kingdom of Spain and the Ministry of Economy, Industry and Competitiveness play an important role in implementation of the State foreign economic and political strategies, and abroad the country is represented by embassies, consulates and trade representations. It is determined that the economic diplomacy of Spain should take into consideration the economic aspects of political phenomena, as well as follow the actions of economic mechanisms and in terms of analysis adhere to the vector of international economic relations.

Article is written in Russian

BUSINESS INFORM №11-2018

Shuba O. А.
The European Experience of Using «Green» Bonds in Financing the Ecological Modernization (p. 60 - 65)
The article is aimed at studying some aspects of the use of «green» investments in financing the ecological modernization of national economies of the European Union countries. Different views of researchers on the definition of the concept of «ecological modernization» are systematized. It is defined that economic instruments of stimulation of «ecological modernization» are considered as both instruments of the State regulation (ecological taxes and privileges, payments for pollution, fines, accelerated amortization, subsidies, grants, government programs) and market instruments (trade in licenses, pollution quotas, «green» bonds). The current status of the use of funds received from the issue of «green» bonds in France and Germany, which are the leaders in the market of «green» bonds of the EU, is analyzed. It is determined that most of the funds from the issue of «green» bonds are supplied to the clean transport projects in case of France and to renewable energy in case of Germany.

Article is written in Ukrainian

Huang Yanrui, Zhang Lei
Using the Experience of China in Determining the Specialization of Ukraine in the International Market of Educational Services (p. 66 - 72)
The article provides an overview of the main tasks of vocational and higher education in the tourism sector, facing the educational institutions of the country; the priority areas requiring urgent regulation are determined; the problems, causing decrease of competitiveness of higher education of Ukraine in the international market. Based on the analysis of China’s experience in the developing of a system of continuing education in the field of tourism, three areas of management that require improvement are allocated; examples of ideas and activities that have been introduced into practical activities by the real sector and educational institutions are provided. The relevance of critical analysis of the proposed measures is substantiated by the need to take attention of the local economic conditions that deprive of the opportunity to use successful models implemented by other countries. The authors propose some other methods that can help Ukraine in taking a leading position in the global market of educational services and intensifying export operations in the tourism sector.

Article is written in Russian

BUSINESS INFORM №12-2018

Davydov D. S., Marchenko A. G.
The Attractiveness of Individual Regions of the EU as Ecosystems for Creating and Developing Startups (p. 59 - 63)
The aim of the article is to study the attractiveness of individual regions, as places for the foundation and development of startups. The concept of «startup» is defined, and factors that contributed to the boom of startups in the 21st century are considered. Analyzing the statistical data, the formation of Berlin as one of the most successfully functioning startup ecosystems of the EU countries is considered. As a result of the study the factors contributing to attracting startups and venture capital to Berlin have been identified, their feasibility has been substantiated. Using the example of the successfully implemented TransferGo startup, the main startup development stages are considered and Berlin’s status as an attractive startup ecosystem is confirmed. Prospects for further research in this direction is analyzing the efficiency of the startup infrastructure in Berlin, namely, business incubators and accelerators operating in the city, technological innovation of the startups based in Berlin, and forecasting of the region’s future development.

Article is written in English

Parkhomenko N. O., Otenko P. V., Hamiie A. M.
The Global and the National Tendencies of Development of Enterprises of the Machine-Building Sector (p. 64 - 70)
The article is aimed at researching the tendencies of development of the global market of machine-building and, accordingly, defining features and prospects of development of Ukrainian machine-building enterprises. The global markets of machine-building are characterized, leaders of machine-building as to separate kinds of production are defined. The most developed countries on producing of machine-building products are defined, namely the countries of the EU, China, the USA, and Japan. The tendencies of development of the basic directions of modern machine-building are characterized: microelectronics, aerospace industry, robotics, machine tool building, automotive industry, heavy machine-building. The leading companies of the world are characterized by the level of profitability in the machine-building sector. The results of analysis of development of machine-building in Ukraine in recent years are provided; the tendencies of change of the volumes of production by the basic kinds of machine-building production are presented; the changes concerning volumes of realization according to the existing directions of machine-building are defined.

Article is written in Ukrainian

BUSINESS INFORM №1-2019

Zhylinska O. I., Salayev Kanan Haci
The Conceptual Model of Strengthening the Economic Security of Azerbaijan (p. 50 - 59)
Efficient strengthening of the economic security of the country is one of the priority tasks of the Azerbaijan Republic not only in terms of its development as a sovereign independent State, but also in the aspect of new scientific research directions. The main characteristics of the State economic security strategy for countering negative phenomena and threats in the long term are defined. A conceptual model of strengthening the economic security of the country is formed and recommended for implementation in conditions of the national economy of Azerbaijan. An analysis of components of the economic security system of the country is carried out. It is specified that the modern realities of the global economic development and the internal socio-economic priorities of the Azerbaijani Government require the formation of a separate effective concept and a strategy of the economic security of the Republic of Azerbaijan in order to allocate specific strategic goals and activities that in full measure incorporate the economic potential and prospects for sustainable development of the country. The mechanism for strengthening the economic security of the country, which implies structuring of the main elements and directions of improvement of the State economic security system to stimulate the economic growth, timely detection and counteraction to potential threats and risks of development of the national economy, is suggested.

Article is written in English

Izmailov Y. O., Yegorova I. G.
Analyzing Public-Private Partnership in Ukraine and World-Wide (p. 60 - 67)
The article is aimed at carrying out an analysis of public-private partnership in Ukraine and other world countries, in particular in the countries of the European and Eurasian Unions. It is proved that public-private partnership has not yet acquired widespread distribution due to the insufficiently elaborated mechanism for its implementation. It is substantiated that the use of an improved mechanism of public-private partnership, being an efficient form of integration interaction of budgetary institutions and private sector on the basis of social responsibility and sustainable development of the national economy, allows to attract in the budget sphere private investments directed to improving the quality of goods and services, as well as ensuring the efficient economic activity. It is determined that no reference form of public-private partnership exists, because the variety of combinations of cooperation between the public and private sectors depends on the country, region, direction of activity, industry sectors, subjects and objects of cooperation, characteristics of projects and from many other factors. Based on the analysis of the practice of implementation and support of public-private partnership in the economically developed countries, it is substantiated that each country uses its own instruments to facilitate the development of social partnership through the coordinated activities of Governments, the State and local authorities, as well as private partners. An analysis of public-private partnership in Ukraine, countries of the European and Eurasian Unions is carried out.

Article is written in Ukrainian

BUSINESS INFORM №2-2019

Duna N. H., Yarmak T. Y.
The Factors of Development of the National Innovation Systems of Austria and Germany (p. 43 - 47)
The experience of the socio-economic development of Germany and Austria testifies that the innovation component is crucial to ensure their competitiveness and economic growth. The article is aimed at defining the modern factors of development of the national innovation systems of Austria and Germany. It is shown that these countries demonstrate effective models of sustainable innovation development. The main components of the State innovation policy in these countries are defined. The role of the innovative infrastructure and the mechanism of public-private partnership in functioning of the national innovation systems is disclosed. On the basis of the carried out research it is concluded that the key factors of formation and development of the innovative system of Austria and Germany are the historically formed preconditions of national business, the efficient State policy in the sphere of financing and stimulating of innovative activity, effective innovative infrastructure based on interaction of the State, business, science and education.

Article is written in Ukrainian

Lymar V. V.
The Foreign experience in Supporting the Development of Bioeconomics (p. 48 - 52)
The article is concerned with analyzing of foreign experience in supporting the development of bioeconomics. It is defined that the development of biotechnologies became the basis for the formation and development of the concept of bioeconomics, which is based on the following fundamentals: use of the gene and cellular engineering knowledge for the development and production of new products; use of biological raw materials to stimulate sustainable growth; internationalization of biotechnology knowledge and its use in different sectors. It is defined that economic motives serve as important factors of development of bioeconomics, namely: conquest of leadership in the sphere of bioindustry, formation of a network of innovation centers. As for foreign experience, the following motives for the adoption of documents on support of the development of bioeconomics in different countries are defined: conquest of leadership in the sphere of bioindustry; formation of a network of innovation centers. The following factors of support of development of the bioeconomy are also defined: investment of venture biotechnological projects; development of appropriate infrastructure to stimulate interaction between science, business and government; institutional support for the protection of intellectual property rights.

Article is written in Ukrainian

Davydenko H. V.
The European Experience in the Application of Standards and their Impact on International Trade (p. 53 - 57)
The article is aimed at generalizing the European Union’s experience in implementing standards and analyzing their impact on international trade. The European practice of application of technical regulations and standards is analyzed. The application of standards in international trade primarily provides the function of protecting the national market from the foreign unfair competitors. The European community has built its own two-tier system of technical regulation based on the New and Global approaches, which serve the purposes of free exchange within the EU, elimination of trade barriers, harmonization and mutual recognition of standards. It is impossible to assert unequivocally that standards have a positive or negative impact on international trade. On the one hand, their implementation can have a positive impact on the technologically advanced sectors, but at the same time negative impact on the commodity sector. That is why harmonization and mutual recognition of standards are essential because they can significantly reduce the negative impact on trade.

Article is written in Ukrainian

Dorosh B. Y.
The Models of Application of the Participation Budget: the European Experience and Prospects of Application in Ukraine (p. 58 - 63)
The main methods of application of the participation budget in Europe and in Ukraine are analyzed. The application of five models of participatory budgeting, which exist in Europe, is researched on the example of the countries using these models. The basic criteria of application of this or that model for each concrete case and each concrete city are specified. The shortcomings and potential risks arising in the process of applying the participation budget in Ukraine are defined, it is proposed to try other methods of the participation budget to minimize risks.

Article is written in Ukrainian

BUSINESS INFORM №3-2019

Strilets V. Y.
The Foreign Experience of Crediting the Small-Sized Business (p. 44 - 50)
The article is aimed at developing a scientific-methodical approach to researching the global experience of crediting the small-sized business through the prism of the current obstacles for Ukraine in accessing the debt financing. The main obstacles constraining the small-sized business entities from taking credits are summarized in the publication. A research on the foreign experience of credit support of the small-sized business development is carried out according to the evaluation criteria from positions of definition of problem points of the small-sized business crediting in Ukraine. The share of short-term credits in the structure of the credit portfolio of the EU Member States is analyzed. The relevance of various types of credit services in the activities of the small-sized business entities of the EU-28 countries is defined. A comparison of indices of the credit reception both in Ukraine and abroad in 2018 is carried out. Scientific novelty of the article is the scientific-methodical approach to analyzing the foreign experience of crediting the small-sized business from positions of problem points definition, which allowed to define features of credit provision in foreign countries (priority of certain types of credit services; urgency and tendencies of changes in the cost of loans; problematic aspects of receiving debt financing on pledge, etc.).

Article is written in Ukrainian

Rosso M. V., Osetskiy V. L., Кanishchenko O. L.
Analyzing the Introduction of Corporate Management in the Global Economic Space (p. 51 - 62)
The article is aimed at researching the impact of efficient corporate management on economic development. Strategic analysis and evaluation of the introduction of corporate management in the global economic space are carried out by identifying empirical relationships between quality of corporate management and development in the unbalanced working group up to 185 countries for the period from 2010 to 2015. The research has proved that corporate management is a positive factor in the inflow of foreign direct investment and market capitalization, as well as a negative determinant of employment in the State sector of the low-income countries. It is identified that corporate management is negatively correlated with corruption in the high-income countries. The one-directional causality from corporate management to economic development, i. e. causal influence of economic development on corporate management is not confirmed. It is substantiated that in order to accelerate economic development of developing economies, politicians should pay attention, first of all, to the institutional development of countries, including the introduction of best practices of corporate management.

Article is written in Ukrainian

BUSINESS INFORM №4-2019

Horbal N. I., Mykytyn O. Z., Sukha A. Y.
The State Regulation of Competition in Ukraine and in the EU (p. 66 - 71)
The article is aimed at studying peculiarities and problems of regulation of competition in Ukraine and in the EU in the context of the European integration of our country. The formation and specificity of the national competition legislation are analyzed, the role of the Antimonopoly Committee of Ukraine is described. Examining the competitive policy of the European Union, it is noted that the principle of free competition is fundamental in the EU, and the competitive policies of the EU Member States are characterized by the uniformity of competition regulations. The principles of regulation of concentration, comparative advertising and protection of trade secrets in the EU are provided. Regarding the introduction of the EU competition law into Ukrainian legislation, it is stated that our country needs to improve regulatory norms in accordance with the European standards. After the signing of the Association Agreement with the EU, which envisages a limited period of implementation of the relevant requirements, the State authorities acted in a prompt manner, and so several legislative acts were improved/adopted. But reforming the competition legislation of Ukraine continues, and there is a need not to adopt normative legal acts only, but to create necessary conditions for the activities of the relevant bodies without political interference from the parties interested. At the same time, borrowing of certain EU norms should be viewed in terms of specifics of the Ukrainian market.

Article is written in Ukrainian

Kovalenko T. V.
Current European Trends in the Development of Lifelong Learning (p. 72 - 77)
The article is aimed at identifying the current tendencies of the lifelong learning in the EU countries and studying the peculiarities of formation of the key competencies of European employees. It is defined that in the European countries’ policy on vocational education and lifelong learning a promising trend is the approximation of vocational education to the labor market. The main changes in the definition of essence of the key competences for lifelong learning in the normative documents of the European Union are researched. On the basis of an analysis of legislative acts, the continuity of Ukraine's policy and loyalty to the European principles regarding the improvement of educational activities are substantiated. The main problems of gaining of key competencies by European workers and positive tendencies of spread of lifelong learning as well as the main indicators of its development are identified. The quantitative and qualitative characteristics of introduction of lifelong learning in the EU countries are determined. The modern innovative programs and measures for the financing of continuous vocational training of staff in the European countries are covered. The necessity of using European experience and the possibility of spread of life-long learning in Ukraine is substantiated.

Article is written in English

BUSINESS INFORM №5-2019

Khvostina I. M., Ivasiv I. I.
European Experience in Supporting Small Enterprises and its Adaptation in Ukraine (p. 38 - 42)
The main directions of state support for small enterprises in Ukraine are investigated. The current problems in the development of small enterprises in Ukraine are identified; the experience of European countries in the development of small enterprises and their promotion is studied. The criteria and level of support for small enterprises in European countries and Ukraine are highlighted. The analysis of the main shortcomings of domestic programs is carried out, and the most ambitious programs to support small enterprises in the European Union are considered. The strategic directions for adaptation of the European experience and the priority directions for the development of small enterprises aimed at enhancing their competitiveness in Ukraine are highlighted.

Article is written in Ukrainian

Onatsky M. Y.
The Republic of Tajikistan in the System of Interregional Cooperation at the Beginning of the 21st Century (p. 43 - 49)
The aim of the article is to explore the features of the foreign economic and foreign policy cooperation of the Republic of Tajikistan at the present stage. The role and place of Tajikistan in the system of interregional cooperation are analyzed. The features of foreign economic and military and political cooperation of Tajikistan are investigated. It is proved that the main regional partners and key players in the region are Russia, China and Iran. The main directions of bilateral cooperation of Tajikistan with the leading states of the region are considered. The specificity of relations between Tajikistan and Russia, China, and Iran, as the main foreign policy partners of Tajikistan, is shown. The influence of the foreign policy factor on the preservation of internal political stability in Tajikistan is revealed.

Article is written in Ukrainian

BUSINESS INFORM №7-2019

Chobitok V. I.
Developing the Family Businesses: the Global Experience (p. 20 - 24)
The article is aimed at analyzing the global experience in the organization and development of family businesses in the modern economic environment. The global experience in the development of family businesses is considered. It is defined that in Ukraine family businesses are not considered promising, they operate with little or no external support, in the conditions of «independent swimming», there is neither legislative, nor economic substantiation for an efficient development of a family-run business, even though it has significant success in European countries, does exist for a long time and passes on the inheritance to more than one generation. Both the positive and the negative features of family businesses are defined. It is noted that the family businesses are able to maintain high «buoyancy» in an aggressive environment and successfully compete, in most cases family relationships also allow to be stronger. A family can combine their properties by forming start-up and investment capital, which is important in the initial and the breakthrough stages of business development. The world’s largest family businesses are considered. It is determined that nowadays they are the mainstay and driving force of the economy.

Article is written in Ukrainian

BUSINESS INFORM №8-2019

Shuba M. V., Yurina K. Y.
Mergers and Acquisitions in the Pharmaceutical Sector of India (p. 15 - 19)
The article is aimed at defining the current status of mergers and acquisitions in India’s pharmaceutical sector. India’s position in the global pharmaceutical market is considered. The main stages of evolution of the Indian pharmaceutical sector are provided. It is defined that, by the location of their assets and the presence of original products in the product portfolio, the largest pharmaceutical companies in India are among the largest generic TNCs. The authors analyze activities of leading pharmaceutical companies that play a key role in the development of the industry in India: Sun Pharmaceutical Industries, Cipla, Dr. Reddy’s Laboratories, Lupin, and Aurobindo; the largest mergers and acquisitions of these companies in recent years are researched. The authors systematize the main motives of the mergers and acquisitions of the Indian pharmaceutical companies, in which the following can be included: increasing the market share; broaden options to create a good product range; access to a powerful, modern and approved material and technical resources base outside India; economies of scale.

Article is written in Ukrainian

Shuba O. А., Korzhavykh O. K.
Mergers and Acquisitions to Establish Corporate Controls (on the Example of the USA) (p. 20 - 25)
The article is aimed at exploring the additional sources for expansion of activities of companies, among which the most popular in the current conditions of the world economy is mergers and acquisitions (M&A). The retrospective and the current status of mergers and acquisitions in the U.S. corporate sector, with the appropriate establishment of corporate controls over companies. are analyzed. It is defined that researchers in the USA distinguish a kind of «waves» of mergers and acquisitions, the average frequency of which varies from 10 to 20 years. These «waves» have their own peculiarities. The most common ways of gaining corporate controls are considered, including direct acquisition of shares, tender offer and methods that are not related to changes in shareholders («struggle for power of attorney» or «buying votes»). It is concluded that during the research period (from 2000 to 2018) the largest number of mergers and acquisitions were recorded in the high-tech, medical, energy sectors and financial sphere. In the future, these dealings will be used by U.S. companies as an external source of growth.

Article is written in Ukrainian

BUSINESS INFORM №10-2019

Biriukov I. I.
The World Experience Concerning the State Support for the Electroenergetic Market Actors (p. 25 - 30)
The article analyzes the main features and tendencies of the energy industry in the world countries. The world’s main innovative energy regulatory measures, as well as major innovations in energy production are allocated. It is determined that the prevailing part of European countries is more than 50% energy-dependent. It is defined that the main reasons for the need to reform the electroenergetic systems are both evolutionary (in cases where it is caused by objective preconditions) and spontaneous. It is determined that tariff formation is a key aspect of the energy markets regulation, which is due to a combination of components that reflect directly the cost of electricity as a commodity, and also include the cost of additional services, transportation, compensation, thus impacting on the entire organizational and functional mechanism of the electricity market. It is proved that interstate cooperation increases the importance of interstate and international relations with regard to the mechanism for implementing export-import operations. It is defined that the system of operation of the electricity industry sector has demonstrated inefficiency and low adaptability in the conditions of the rise in the cost of hydrocarbon fuel, which leads to the need to modernize and introduce new generating capacities. It is indicated that the provision of advanced demand for electricity leads to an urgent need to restructure the entire electroenergetic complex. It is determined that in order to overcome the identified problems of electroenergetics, most foreign countries have developed concepts and launched the implementation of priority tasks in the direction of structural reform of the electroenergetic sector.

Article is written in Ukrainian

Karasova N. A.
The Experience of Developed Countries in the Sphere of Creative Economy (p. 30 - 37)
Currently, the economic development of any country, as well as the well-being of its population, is determined by the level of knowledge, achievements of intellectual work, innovation, development of science, technology, and information systems. The relevance of the research is substantiated by the need to develop creative industries in Ukraine, which is possible if we study the experience of economically developed countries. The aim of the publication is studying the development features of the creative sectors of economy in the economically developed countries. An analysis of the development of creative economies in the Asia-Pacific, European and North American regions is carried out. It is defined that five key directions of activities are combined to ensure development of the creative sector in developed countries: development of trade unions and organizations; development of the potential of education system; encouraging the creation of business incubators, creative clusters and hubs; internationalization, and going beyond national economies. It is determined that the development of creative industries has a clearly expressed urbanization character. However, for rural areas, development of the creative economy is also important, given the potential and prospects of the synthesis of traditional and creative types of activity. It is determined that an important aspect of the development of creative economy in the European Union Member States has become the study and support of creative industries at the national level. A comparative assessment of the incomes of various spheres of the creative industry in the developed countries is carried out. On the basis of an analysis, the sectors that each individual country refers to as a creative economy are allocated. It is explained that the policy of developed countries is aimed at: clear definition of the boundaries of creative economy, related classification of economy sectors and types of economic activity; creation of typological groups in the statistical measurements of creative economy; identifying the directions and sources of financial and technical support for the sectors and sub-sectors of creative economy; implementation of various support programs at the State level.

Article is written in Ukrainian

BUSINESS INFORM №12-2019

Knir M. O., Plieshakova N. А., Plieshakova O. A., Kryvoruchko Y. V.
Experience of Managing External Public Debt in Foreign Countries and Prospects for Its Implementation in Ukraine (p. 70 - 75)
The proposed scientific article is concerned with the topical issue of the management of public debt at the current stage of the development of Ukraine’s economy. The article is aimed at studying the experience of foreign countries in managing public debt and developing practical recommendations to improve the management of Ukraine’s external public debt. The essence of the concept of «external debt» is considered, statistics on the volume of government borrowings in the foreign countries are analyzed, and ways of improving the mechanism of management of Ukraine’s external public debt are proposed. Key priorities for applying foreign experience to stimulate economic growth in Ukraine have been defined. The main regulatory changes are considered, in particular changes to the Budget Code, which provide for the creation of the Debt Agency of Ukraine, with the following tasks: management of public debt and the risks associated with it; implementation of public internal and external borrowings; other tasks that would come under its jurisdiction. Prospects for further research in this direction is the improvement of the regulatory framework governing the debt policy in Ukraine and the implementation of a holistic strategy for managing the external public debt.

Article is written in Ukrainian

BUSINESS INFORM №1-2020

Perepeliukova O. V.
Generalization of the World Experience in Using the Instruments for Territorial Community Positioning (p. 36 - 41)
The article considers the main instrumentarium for positioning the territorial communities of European countries. The experience in positioning of the territories is analyzed taking into account the process of decentralization of power. It is defined that the process of the territories’ branding is used to improve the level of territorial communities positioning. It is determined that European countries pay more attention especially to the brand of city in terms of positioning and branding of their territories, while allocating a number of key positions in which each of the cities holds a high place. It is defined that in order to improve the level of territorial communities positioning, it is necessary to develop and implement a complex system of activities by local government bodies in partnership with other stakeholders. Such activities include: elaborating a development strategy; identifying the local advantages and unique territorial features; developing an efficient marketing strategy; developing local infrastructure; spreading the educational programs; creating organizational structures of marketing; forming partnerships; creating an efficient information-communication network.

Article is written in Ukrainian

Mukhin V. V., Pysmenna U. Y., Lapko O. O.
Structural Transformations of the European Natural Gas Market in the Context of Energy Security (p. 41 - 50)
The economic aspects of the development of natural gas trade are considered and the strategic directions of the formation of the single energy market model in the EU are generalized. The need to create a common energy security system for the EU countries and ways to resolve the problematic issues of diversification of natural gas supplies are substantiated. Prospects for the implementation of the national legislative acts into European legislation in the course of implementation of the EU’s energy security policy are considered. The main directions for achieving this are international agreements and the use of market practices in conjunction with regulatory methodology. Particular attention is paid to the formation of specialized institutions in the energy sphere. The theoretical and practical issues of structural transformation of the European natural gas market and related aspects of energy security are considered. Mechanisms for gas pricing for different participants of the gas market have been substantiated. The need to create an inter-regional gas hub in Ukraine, which will ensure the development of modern instruments of interregional trade in natural gas and allow the development of the system of underground gas storage facilities in Ukraine, is underlined. The latter is important for the concentration of significant volumes of commercial natural gas on Ukrainian territory, which is the key to a long-term energy security. The creation of conditions in the territory of Ukraine for the formation of a liquid, competitive and liberalized natural gas market will strengthen the mechanisms for protecting the national gas infrastructure. Changes in technology, market conjuncture and principles of collective regulation suggest evolving a dynamic system of use of different pricing mechanisms in regions and at the national gas markets.

Article is written in Ukrainian

BUSINESS INFORM №2-2020

Derkach T. V.
The Impact of Financial System Development on Economic Growth of Spain and Greece (p. 42 - 49)
The article analyzes the main financial factors affecting the economic growth, as well as the factors that may impede the country’s sustainable economic development. The article analyzes the impact of financial sector on economic growth, using the examples of Greece and Spain. Due to the identification of financial factors, that cause the economic development of countries, it is possible to develop a complex of measures to reduce the negative effects of possible financial crises. The experience of the global monetary and financial crisis has largely demonstrated the interconnections between the financial sectors of countries in the world. The identified patterns of Greece and Spain financial system development will allow to develop a complex of measures to prevent financial crises in the future. The article analyzes financial indicators to identify the interdependence of processes occurring in the financial sector and the economies of Greece and Spain. In order to identify key factors affecting the economic growth of the country, it is necessary to conduct a comprehensive analysis of data in dynamics, responding to changes in the financial sector and in the economy as soon as possible. Similarly, the financial sector cannot be viewed in isolation from the global economy. Therefore, both endogenous and exogenous factors must be considered for forecasts and recommendations to achieve sustainable economic growth. The financial factors cited by the author will allow us to take into account the changing nature of the financial sector and to develop public policy under the volatile financial markets. In the future, given these factors, it will be possible to move on to developing a country-specific quantitative model, which in turn, will allow to develop recommendations for individual countries. Taking account of the European Central Bank’s experience in establishing and controlling the financial market, we can elaborate recommendations on the transformation of countries financial sector, as well as apply the results obtained to harmonize the economies of the candidate countries for integration into the European Union.

Article is written in English

Salikhova O. B., Honcharenko D. O.
Endogenization of Economic Development through the Development of High-Tech Pharmaceutical Industries: Europe’s Experience, Lessons for Ukraine (p. 49 - 56)
The development of national pharmaceutical industries is not only a solution to the nation’s health, reducing the burden on pension systems and health care systems, but also the preservation of existing employment and the emergence of new jobs, scientific and innovative development, reduced dependence on imports, high value added activity and accelerated economic growth. The article is aimed at generalizing the features of forms and instruments of government assistance to the companies of pharmaceutical sector in Europe, substantiating the possibility of implementing best practices in Ukraine, defining the key guidelines of the State policy on the innovative development of the national pharmaceutical manufacturers and reducing the impact of exogenous factors on economic growth. It is determined that the pharmaceutical manufacturers in the EU countries receive financial assistance mainly through regional and horizontal mechanisms that national governments apply in the context of the technological, innovative and industrial priorities that are defined at the national level. It is substantiated that one of the most common horizontal mechanisms to facilitate the development of pharmaceutical industries in the EU is providing aids to economic entities in terms of their research, develop and innovation activities. The public procurement system is considered as one of the instruments to support and protect pharmaceutical manufacturers. Recommendations for Ukraine have been given, the implementation of which will accelerate the endogenization of economic development through the development of national high-tech pharmaceutical industries and related sectors of the economy.

Article is written in Ukrainian

BUSINESS INFORM №3-2020

Tretiak V. P., Loboda M. O.
Using Positive Experience of Activities of the Confectionery Companies in Foreign Countries to Increase the Competitiveness of Confectionery Enterprises in Ukraine (p. 46 - 52)
Competitiveness is viewed as a key criterion for evaluating the success of confectionery companies. The analysis of indicators of the total volumes of Ukraine’s foreign trade with bakery, flour, confectionery and similar products for the last three years is carried out. It is noted that the bakery, flour and confectionery industries have recently been active participants in foreign economic activity and are confidently promoting their products to the external market. The most powerful foreign confectionery companies, which are considered leaders in the international market, are defined. The most successful strategies and directions of business management in accordance with the policies and rules of foreign confectionery companies are presented. Leaders among Ukrainian confectionery companies are analyzed. In order to create the most favorable conditions for Ukraine’s approaching the market structures of foreign countries, the most important is the State regulation of foreign economic activity, which provides for the creation of certain conditions and mechanisms for the efficient development of relations between Ukrainian economic entities in different countries and encouraging them to compete and eliminate monopolies in the sphere of foreign economic activity. Some components of business management by foreign confectionery companies are proposed, which should be used in the activities of domestic confectionery companies in order to increase their competitiveness.

Article is written in Ukrainian

BUSINESS INFORM №4-2020

Khalina O. V.
Creative Economy as the Basis for Economic Development in the Asia-Pacific Region (p. 57 - 62)
The main condition of qualitative economic growth of the countries of Asia-Pacific region (APR) is the active development of creative economy. The article is aimed at researching the essence of the creative economy, defining the classification of goods and services in this sphere, and most importantly – the reasons for its popularization in the modern economic space. For purposes of the research, the representatives of the APR, such as Singapore, South Korea, China and India are chosen, which have timely passed from the extensive model of economic development and direct their production capacities toward creative activity to improve the synthesis of technology, art and culture in innovative business forms. Analyzing the above-mentioned Asian countries, the author defined strengths in the following directions: the growth rate of gross domestic product according to purchasing power parity, the rating of innovative economies, the exports of high-tech goods. China’s economy is characterized by rapid buildup of production volumes, South Korea and Singapore are focused on the quality and novelty of the goods, India aims to develop the export potential of its State. At the same time, the article researches the activity of Asian countries engaging in creative activities and identifies the goods and services by which they occupy a leading position. Thus, in determining the priority spheres of economic development of Asian countries, the first place take the innovative and creative components. The article determines that the creative economy is a leading sphere of economic and social development that promotes the commercialization of talents, intellectual property and development of private entrepreneurship on the example of the Asia-Pacific countries.

Article is written in Ukrainian

BUSINESS INFORM №8-2020

Shuba O. А.
The Experience in Using the Non-Traditional Monetary Policy by the European Central Bank (p. 20 - 25)
The article is aimed at studying the experience of using the non-traditional monetary policy by the European Central Bank. The standard instruments of monetary policy of the European Central Bank are provided: open market transactions, permanent operating mechanisms, and minimal redundancy on the accounts of central banks. The relationship between the accounting rate and the level of inflation in the Eurozone is determined by means of correlation analysis. The correlation ratio is 0.71, indicating the impact of the accounting rate on the level of inflation, albeit with a certain time lag. The impact of the long-term interest rates on government bonds on the rate of GDP growth in the Eurozone countries is considered. A calculation of the pair correlation ratio between these indicators showed that the correlation ratio is 0.00468, i.e., interest rates on government long-term bonds in the Eurozone do not affect the change in GDP growth. It is determined that during the last global financial crisis there was a need to use new, or non-traditional, methods of monetary policy regulation. These include the following: measures of quantitative easing; measures of credit weakening; measures of public debt management policy; exchange rate policy measures; bank reserves policy measures, monetary policy measures. It is determined that the European Central Bank is currently examining all possible monetary policy instruments in order to mitigate the impact of the coronavirus on the economy, but nowadays the single monetary policy in the Eurozone, may this also be non-traditional, does not allow to align existing imbalances.

Article is written in Ukrainian

BUSINESS INFORM №9-2020

Ushakova N. G., Kulinich O. A., Pominova I. I.
Institutionalization of Behavioral Regulation: Foreign Experience (p. 37 - 43)
The article is aimed at disclosing the peculiarities of models of institutionalization of «behavioral» regulation at the macro-economic level in the countries of the world. Behavioral nudge nowadays is seen as a potentially promising approach to improving government regulation both in academic discussion and in practice. Increasing the efficiency of the practice of using behavioral motives of economic entities in the process of development of the State economic policy is being fulfilled due to the application and implementation of techniques of influence of the nudge theory, which determines the choice of a more rational solution that corresponds to the interests of both individual and society. Activation of the application of nudge technologies and their increasingly frequent combination with traditional measures to stimulate citizens and businesses have caused in many world countries the institutionalization of behavioral regulation in either centralized or decentralized models. The institutionalization of behavioral regulation in a centralized model is represented by specific government bodies or subdivisions specializing in the development of solutions using the theory of behavioral economy. The institutions of a decentralized model are independent commercial organizations that are not part of the structure of government bodies. The process of formation and functioning of behavioral regulation institutions in different world countries has its own specifics, and the bodies themselves are constantly being modified. However, all the variants for institutionalizing the behavioral regulation at macro-level are subject to the risk of application of the «dark nudging», which requires the creation of special institutions to mitigate or eliminate its negative consequences. The most important principle in the development of a behavioral instrumentarium is compliance with universal and personal interests at the same time.

Article is written in Ukrainian

BUSINESS INFORM №10-2020

Viktorov B. V.
Foreign Experience of Network Interaction and Possibilities of Its Application in Ukraine (p. 50 - 56)
The article is aimed at disclosing the peculiarities and adapting the experience of the Chinese company Huawei on the organizational integration of participants of Ukrainian networks in international markets. The article explores the experience and the market, economic, technological effectiveness of the Huawei’s integration strategy when entering international markets. It is substantiated that the main directions of such a strategy are: the use of direct connections of influence on the nature of the environment’s attitude to the company’s functioning policy through the development of cooperation with market leaders, local companies; the use of direct connections of influence on the investment environment, research, development and innovation activities in the host countries through investing in the development of science and research in these territories. The author proposes an adapted organizational scheme of network connections in order to implement the company’s integration strategy when large Ukrainian network structures enter international markets (based on the Huawei’s experience), which takes into account a number of advantages and problems that can be overcome with use of organizational management. It is defined that the aforementioned author’s proposal of organizational network-based international integration has a number of advantages related to: prospects for securing sales markets (or their expansion) by facilitating the development of other local foreign business entities (purchase of materials, goods, local services for the production of their own articles in these territories); investments in local science; facilitating the employment of the local population; facilitating the entry into new markets through the loyalty of competitors (through the use of their products, services in the production of their own articles (services)). It is proved that this scheme distinguishes itself by certain problematic aspects (the probability of loss of trade secrets in view of the impact of cooperation with foreign workers within the framework of new partner relationships of participants, the need for investments in scientific-technical activities in the host countries), but they can be overcome, and the benefits of its implementation are quite significant.

Article is written in Ukrainian

BUSINESS INFORM №11-2020

Shveda N. M., Shpylyk S. V., Pinyak I. L.
The Mechanisms of Management of the Transport and Logistics System of the European Union in Pandemic Conditions: Experience for Ukraine (p. 43 - 48)
The article is aimed at examining the mechanisms of organization of transport and logistic flows in Ukraine and the Countries of the European Union (EU). Analyzing the scientific works of many scientists, the measures taken by the EU countries were considered, which are reduced to the elimination of administrative barriers related to the objective inability of entrepreneurs and their employees to meet the requirements provided in the EU regulations. It is determined that transport and logistic flows play not only a strategic role in the development of all industries, but also a social role, because they are able to increase the quality level of living standards of citizens. In the process of researching the impact of the global pandemic on the transport industry, the authors diagnosed the main macro-economic measures to be followed to minimize the consequences, to slow the sharp reduction of cargo flows and prevent transport collapse. Taking into account the tendencies in the activities of transport companies, it is extremely difficult to predict the distant future of the market in the current situation. However, all companies without exception need support from governments. A positive example in this regard is the mobility package in transport management presented by the European Union. The main emergency measures and rules developed by the EU are also recommended for use by citizens of other countries, including Ukraine, if they are necessary to ensure the free movement of goods within the EU. It is determined that one of the peculiarities of activity during the pandemic is the reduction of the volume of services provided, in particular, the owners of companies are already counting on their curtailment at the end of this year. Experience in the management of transport and logistics systems shows extremely close and dynamic integration processes in this sphere, but it can not always cope with the challenges facing the world community. Prospects for the development of domestic logistics in the global dimension will depend on the improvement of the economic situation in the country and its most important trading partners, and at the level of market actors – on using the most effective instruments in their management of transport and logistics flows.

Article is written in Ukrainian

Dovgal O. A., Dovhal G. V.
Features of Implementation of National Innovative Models of Development in Brazil, Chile and Mexico (p. 49 - 54)
The article carries out a comparative analysis of innovative models of development of some countries of South and North America on the example of Brazil, Chile and Mexico, taking into account three components ? science, business communities and the State whose experience can be used by other countries, including Ukraine, in the formation of national innovation policy. It is proved that Brazil’s economy demonstrates the highest rates of modernization and economic development in South America through the introduction of foreign innovations first into large companies, and later – into small innovative enterprises. It is substantiated that the peculiarity of the innovative development of Chile’s economy is the expansion of training of specialists through the system of foreign internships and training of a growing number of students abroad with the further formation of startup commands from domestic specialists who have gained theoretical knowledge and practical experience abroad. It is identified that the innovative model of development of Mexico’s economy is implemented through to the increased interest of the State, aimed at stimulating large companies to implement innovative technologies based on significant amounts of budget expenditures on R&D. It is concluded that macro-economic and foreign economic indicators of the economies of Brazil, Chile and Mexico show the growth of the pace of innovation development of these countries, which characterizes them as potentially strong players on the international stage.

Article is written in Ukrainian

Prasad Ghimire Rudra
Sectoral Social Entrepreneurship Innovation Opportunities in Nepal (p. 54 - 58)
Social entrepreneurship is a mix of sectoral innovation and resource availability by which social problems are treated as the ones handicapping a societie’s needs. It is a new dimension of the business sector. In Nepal, like everywhere in the world, a model of social entrepreneurship has been developed by several social innovators. The main aim of this research is to analyze the sectoral social entrepreneurship and innovation practices in Nepal. This paper is based on scientific review with reference to the social entrepreneurship and innovation in the context of Nepal economy. This subject matter is highly recognized due to its broad scope in terms of educational innovation, business innovation, environmental innovation, social innovation, financial innovation, technical innovations, innovations in all the sectors of economy, and, finally, innovations in the living standard of Nepalese people. Nepal needs social and economic transformation, which can be made by building socially responsive citizens. Thus, the context of Nepal suggests an opportunity for sectoral and structural innovations. Social innovations can make Nepal smart and strong. So, the government should create the environment for the social enterprise sector in Nepal.

Article is written in English

Voznyak H. V., Kloba T. L.
Smart Specialization as an Innovative Strategy for the Regional Economic Growth: Experience of Central and Eastern European Countries for Ukraine (p. 59 - 68)
The initiated processes of reforming the government and public finances in Ukraine have provided real opportunities for increasing the resources for sustainable development of regional economic systems, communities and territories. At the same time, domestic practice shows ineffective mechanisms for implementing the State, regional policy, deepening both interregional and intra-regional asymmetries in terms of socioeconomic development. These aspects highlight the increased interest in the scientific and practical problem of converting opportunities into tools to stimulate economic growth of territories and updating the State Regional Policy of Ukraine, which should be based on the system of multilevel governance of territories and development of its strategic vision, especially in terms of competitive advantages. The purpose of the study is to systematize the experience of strategizing the regions of the EU, Central and Eastern Europe and to carry out a comparative analysis of the choice of priority areas of smart specialization in terms of groups of regions with appropriate economic structure. The object of research in this article are the processes of strategizing the regional development on the basis of smart specialization in Ukraine and the EU Member States. In the course of the research a set of general scientific methods of scientific cognition (system analysis, logical generalization, analogy, comparative analysis) was used, which provided an opportunity to realize the integrity of scientific research. The practices of regional strategy on the basis of smart specialization of Central and Eastern European countries are analyzed. Their economic profile and priorities of reasonable specialization are determined. The peculiarities of the functioning of the economy of the countries / regions selected for analysis are highlighted. Emphasis is placed on the consequences / benefits of implementing innovative strategies for the economic progress of countries / regions. A comparative assessment of the priority areas of smart-specialization of the EU and Ukraine in terms of groups of regions with the appropriate structure of the economy is made. As a result of the study, no unambiguous correspondence was established. Recommendations are given and imperatives are determined, upon which the policy of sustainable growth of the regions of Ukraine should be developed, based on the results of the conducted research.

Article is written in English

BUSINESS INFORM №12-2020

Onatsky M. Y.
Socio-Economic Transformations in Estonia in the Post-Soviet Period: The Experience of Modernization Changes (p. 72 - 81)
The article considers the peculiarities of socio-economic transformation in Estonia in the post-Soviet period. The specifics of the transition to a market model of the economy in the country are highlighted. It is specified that the first steps towards market transformations were liberalization of both pricing policy and economic activity; introduction of a special regime of the credit and monetary policy – the currency council, which provided for the free exchange of national currency at a clearly fixed rate; reorganization of the mechanism of management of Estonia’s banking system. It was found out that the nature of market transformations that took place in the Republic of Estonia was largely determined by the country’s foreign policy course towards Euro-Atlantic integration. The author discloses peculiarities of the privatization process in Estonia, the main difference of which was its clear legislative regulation, which helped to avoid numerous financial pyramids and voucher auctions, as it was in other countries of the post-Soviet space. The specifics of socio-economic development of the Republic of Estonia after accession to the European Union and NATO are shown. Tax reform as an important component of creating a favorable investment and business climate in the country is analyzed. The process of modernization of the Estonian energy sector from the point of view of ensuring energy independence and improving the energy efficiency of the State economy has been studied. This was possible due to the implementation of the program of modernization of the energy sector, one of the components of which was the widespread introduction of energy-saving technologies, including the use of alternative energy sources. It has been proven that the implementation of market transformations in accordance with European requirements has accelerated the process of Estonia’s integration into the EU and NATO, as well as strengthened the country’s ties with its Western partners.

Article is written in Ukrainian

BUSINESS INFORM №2-2021

Zhabynets O. Y., Sukhyi O. O.
Poland’s Experience in Implementing the Structural Economic Policy of Cities (p. 27 - 34)
The article analyzes Polish experience in the implementation of structural economic policy at the both national and regional levels. In particular, the key directions of implementation of structural reforms for the period 2013-2018 were analyzed, a comparison of Poland and EU-28 indicators on the expenditures for the implementation of innovations and employment level was carried out. The main problems of R&D activities in Poland, as well as effective instruments of innovation policy that contributed to the growth of innovativeness of the Polish economy, are determined. The factors of employment growth in the Polish labor market, problems and structural reforms in this direction are allocated. It is determined that urban development is an important part of Poland’s development policy in the medium and long term, but Polish cities, compared to most European cities, are not competitive enough and are limitedly included in both the European transport network and the intercity functional connections. It is found that the policy of development of Polish cities is grounded on the approach based on the synergy of sectoral policy and multilevel cooperation to strengthen the sustainable development of cities of any size, because the solution of many global problems of sustainable development (pollution, consequences of climate change, ensuring inclusive growth, etc.) is entrusted precisely to cities.

Article is written in Ukrainian

BUSINESS INFORM №3-2021

Shvets N. V.
Smart Specialization of European Regions – Leaders in the Sphere of Innovation: Systematizing the Approaches (p. 29 - 37)
The article is aimed at analyzing and systematizing the approaches to determining the smart priorities of the regions of the European Union, which are leaders in innovative development, to develop recommendations for improving the process of formation of regional strategies for smart specialization in Ukraine. Smart priorities of the top 10 innovatively active regions of the EU according to the Regional Innovation Board were studied using the information provided by the European platform for smart specialization. Certain methodological problems and limitations for the analysis of regional smart specializations related to certain changes in the NUTS classification and different periods of adoption of regional strategies are identified. It is noted that smart priorities in many regions are based on the innovative development of traditional types of economic activity. It is displayed that the processing industry is most involved in the formation of regional smart specializations, also widely involved are the sectors of scientific-technical activities, information and telecommunications, transportation, and education. It is defined that a large proportion of priorities are of complex nature. This is connected with the cross-sectoral cooperation, as well as the use of horizontal-type instruments (digitalization, increasing the value of knowledge, spread of advanced technologies, focusing on the Sustainable Development Goals, social innovations). It is emphasized that the leading regions most often choose digital transformation, sustainable innovations and KETs for the goals of their smart specialization policies. The strategy of smart specialization of the Western Netherlands, which is the result of the collaboration of a number of research institutions, public and private companies and local authorities, is considered. It is concluded that when determining the priorities of Ukrainian regions, it is necessary to focus on the fore-mentioned EU goals and deepen the analysis of scientific-technological specializations of territories, as well as to formalize the role of science and education in regional strategies of smart specialization.

Article is written in Ukrainian

Yevdokimov O. V.
Specific Features of Development of the Rural Tourism Abroad (p. 38 - 43)
At the present stage of Ukraine’s development, its tourism resources are extremely limited compared to the leading mass and cultural-educational tourist destinations of the world, which creates the need to find alternative directions for the development of the Ukrainian tourism market. Rural tourism has been successfully practiced abroad for many years, which in the future can become a full-fledged component of the tourism market of Ukraine and a guarantee of its tourist attractiveness. In order to successfully implement these potential innovations in the Ukrainian tourism sector and prevent mistakes already made by the pioneers of rural tourism, the experience of developing this type of tourism abroad requires detailed study, which became the aim of this article. Analysis, generalization and classification were used as research methods. The publication defines approaches to the regulation of rural tourism; factors of diversification of approaches to stimulation and regulation of rural tourism development are identified; functions of the State regulation related to the development of rural tourism are classified; the experience of rural tourism development of Cyprus, Sri Lanka, Canada, India, the USA, Australia, Great Britain and Germany is analyzed, general and distinctive features are distinguished; the instruments used in the framework of organizational and economic mechanisms to support rural tourism abroad are defined; approaches to supporting the development of rural tourism are formulated according to the criterion of intensity of efforts on the part of the State and regional management bodies; the role of rural tourism in the development of agriculture is substantiated; the key factors of using foreign experience in the rural tourism development in Ukraine are identified. According to the results of the carried out research, rural tourism has every chance to be successfully implemented in the tourism market of Ukraine.

Article is written in Ukrainian

BUSINESS INFORM №4-2021

Domashenko M. D., Shkola V. Y., Troyan M. Y., Domashenko V. S.
Development of Alternative (Clean) Energy Sources: The EU Experience (p. 48 - 53)
The article is concerned with studying the European experience in the development of alternative (clean) energy sources, identifying problems and prospects for the production and consumption. The publication considers the advantages for countries from the use of new generation of energy carriers, including: independence from the countries – suppliers of traditional energy; ensuring ecological production and consumption; environmental protection and minimization of risk to the climate, human health, biodiversity, etc. The article provides the EU regulatory documents, namely: Directive 2018/2001/EC on alternative energy sources as part of the «Clean Energy for All Europeans» package and National Energy and Climate Plans (NECP) for 2021-2030, which set out the mechanism for fulfilling new goals for 2030 as to alternative energy sources. The new directive establishes a mandatory goal for alternative energy sources for the EU for 2030 (not less than 32%), provides for measures for various sectors of the economy, as well as transport, and strengthened criteria for ensuring the sustainability of bioenergy. The transition of the EU to the use of biofuels is explained by the course of sustainable development of European countries in the sphere of energy and ecology, the status of the economy and the general ecological policy of the countries. The division into generations of biofuels is provided as follows: the first generation, or conventional fuel, is fuel from ordinary food crops grown on arable land; the second generation is biofuels made from various types of biomass; the third generation is made exclusively of algae; the fourth generation of biomass involves the use of biochemical methods for carbon capture. It is determined that the production of biofuels can give impetus to the revival of the national agrarian economy, improving the environment, enhancing the ecological safety of the country, as well as promoting the development of the country’s logistics infrastructure.

Article is written in Ukrainian

BUSINESS INFORM №6-2021

Yaroshenko I. V., Semyhulina I. B.
Public Administration of Territories: Analyzing the Theoretical Approaches and Models of Functioning of Local Self-Government in the World (p. 28 - 37)
Each country at the level of individual territorial units forms its own system of public administration, which is both individual and under the influence of national, historical, geographical, economic and other features. Familiarization with various foreign experience allows allocating a common characteristic in the system of public administration, which is the functioning in the countries of the institute of local self-government. The functioning of a productive system of local self-government is an integral element of any democratic country. The choice in local government for the benefit of either local self-government bodies or public authorities depends on the theory of local self-government prevailing in national politics. At the same time, the choice of theory and model affects the effectiveness of local government, its ability to ensure and guarantee the rights of the community as a whole and the interests of each individual resident in particular. Studying the theoretical principles of public administration at the local level allows not only to get a general vision of this process, but also to allocate its characteristic features. Studying the effectiveness of local self-government activities in different countries and analyzing the possibility of applying modern methods of management in the domestic system of local self-government is relevant for Ukraine in the process of ongoing reform of the public administration system and the search for the optimal model of government organization at the local level. Due to the complexity, importance and interdependence with a whole range of other socio-economic processes, the issues of theoretical principles as to formation and functioning of local self-government, determining the level of decentralization in the system of public administration of territories constantly remain in the field of view of researchers and practitioners of the world, which determines the perspectivity and relevance of researching this topic.

Article is written in Ukrainian

BUSINESS INFORM №7-2021

Balian A. V., Gryshova I. Y., Shcherbata M. Y.
Implementation of Innovative Instruments for the Development of Agricultural Insurance in the World (p. 31 - 36)
The article is concerned with analyzing the experience of implementing innovative instruments for the development of agrarian insurance in the world. The article is aimed at defining the latest global trends in the development of insurance in the agricultural sector in order to introduce and implement effective insurance mechanisms in domestic agricultural practice. In the course of the research, the following methods were used: dialectic cognition, abstract-logical approach – in generalization of research results and formulation of conclusions; scientific foresight – in terms of formation of directions for development of the agricultural insurance market in the world. Types of agricultural insurance are defined as follows: private agricultural insurance, the State-based agricultural insurance, non-commercial agricultural insurance. It is noted that the world experience of introducing new insurance programs under the influence of globalization transformations in the global agri-food markets demonstrates new opportunities and challenges for the development of agricultural insurance in Ukraine and requires further scientific researches. A number of reasons have been identified that hinder the development of the agricultural insurance market world-wide. A discrepancy between the dynamics of the development of the agricultural sector of the economy and the volume of agricultural insurance in the world is identified, also the underdevelopment of the insurance instrumentarium in the full extent is specified. It is emphasized that the development, implementation and success of agricultural insurance programs require a high level of coordination, cooperation and common vision. The conclusion on the extant problems of development of the insurance market in Ukraine, caused by the lack of a clear strategy for its development along with no consideration of the interests of all its participants, is substantiated.

Article is written in Ukrainian

Biletska O. A.
Features of Scientific Research Financing in the European Union (p. 37 - 43)
The article is aimed at identifying the scope and features of financial provision for scientific research in the founding countries of the EU – Germany, France and Italy, as well as in new countries – the Czech Republic, Hungary and Slovakia. Methodological basis of researches constituted the publications of scholars on this issue, analytical methods, the Eurostat data, and developed scientific approaches. According to the substantiated criteria, the analysis of research costs in terms of total expenses, costs by sector and per person is carried out. The identified features are grouped by common and distinctive characteristics regarding business structures, the public sector and higher education institutions. The dynamics of increasing or reducing these costs for a particular country during 2014–2019 are distinguished. The acyclicity of expenses detected during the specified period in all the analyzed countries by certain sectors is an evidence of a permanent search for the optimal ratio between the subjects of financing and reflects the specifics of the financial policy implemented by governments. Significant results of the study are the definition of a significant role of Germany in financing these costs, the share of which is almost a third of all EU spending, as well as the identification among the analyzed countries of a significant difference in costs between Germany, as the most economically developed EU country, and Slovakia, as the least developed, which makes 141 times. Separately, it is emphasized that the peculiarities of financing the costs are determined by the factors of historical, economic and mental content, which are disclosed with the appropriate substantiation in the article. The conclusions of the completed research are consistent with the views of other scholars whose works are taken into account in this article. A reasoning of the research results is provided and the feasibility of further searches for optimization of research costs is defined.

Article is written in Ukrainian

BUSINESS INFORM №11-2021

Podluzhna N. O., Dolha V. S.
Formation of the State Regional Policy: The Experience of the G7 Countries (p. 49 - 58)
The possibilities of adaptation of the experience of the G7 countries in the conditions of Ukraine regarding the regulatory and legal support for the formation and implementation of the State regional policy are determined. Methods of analysis and synthesis of information were used, which allowed to establish advantages and «weaknesses» in the legislation of both Ukraine and the G7 countries to ensure the development of the regional economy, also a comparison method based on which the possibility of adaptation of foreign experience in the formation and implementation of the State regional policy was determined. The main directions of implementation of the State regional policy were established through a detailed study of the existing regulatory and legal documents of Ukraine. Advantages and «weaknesses» in the legislation of Ukraine on regulation of regional development are identified. It is defined that the «weaknesses» of Ukrainian legislation in the direction of regulation of the State regional policy are the following: development and implementation of generalized programs for the development of regions without taking into account the level of development of territorial units; weak stimulation of innovations; lack of transparency of the activities of the State administration bodies and control over documentation as to local budgets; lack of provisions to increase the level of development of depressed regions. The possibility of using the experience of the G7 countries to develop recommendations for improving the State regional policy are substantiated. It is determined that the United Kingdom, France and Italy do not have special legislation on regional policy, but it is effective in the United States, Canada, Japan and Germany. The experience of using instruments for the implementation of the State regional policy by the G7 countries in the absence of special legislation was studied. The normative and legal documents of the State regional policy of the G7 countries, which have special legislation on the development of regions, were monitored. A comparative analysis of Ukrainian and foreign experience on implementation of regional development policy was carried out. Recommendations on accelerating the processes of stimulating the development of regions by activating regional policy towards supporting depressed regions are proposed as follows: support for small and medium-sized businesses; introduction of smart specialization with simultaneous development of diversified forms of knowledge economy; introduction of instruments of innovative and digital economy in all spheres of activity of economic entities; inclusion of priorities of small towns and villages into the regional development plans.

Article is written in Ukrainian

Pasichnyi M. D., Novytska N. V.
Development of the Mechanism for Administration of Excise Tax on Tobacco Products (p. 58 - 66)
The article is aimed at systematizing the foreign experience in the development of the mechanism for administration of excise tax on tobacco products, taking into account the institutional peculiarities of fiscal policy. Further changes in the excise taxation system should take into consideration both the domestic retrospective experience and the empirical experience of other countries. The article discusses the system of licensing for the production, import and export of tobacco products and production equipment, as well as wholesale and retail trade in these products. The European experience of licensing of retail trade in tobacco products is researched. Licensing should be considered as a potential source of budget revenues, as well as an additional tool for ensuring the implementation of other provisions on the organization of the activities of the places for selling excisable goods. The expediency of adaptation of the experience of countries with an emergent economy as to the use of video surveillance systems in tax warehouses is substantiated. The architecture of the video surveillance system must be coordinated with fiscal authorities, which can determinate and verify its functionality and efficiency. The approaches to interaction between fiscal and law enforcement bodies in the sphere of counteraction to illegal trade in tobacco products are generalized. Coordination of customs authorities and special investigation units is a key element in the successful counteraction to the illegal trade in tobacco products. The peculiarities of functional powers of regulatory authorities in the sphere of counteraction to the illegal tobacco market in Germany, Italy and Lithuania are determined. The specifics of cross-border cooperation between the EU Member States and European institutions on countering the cigarette and raw tobacco material smuggling are studied.

Article is written in Ukrainian

BUSINESS INFORM №12-2021

Vlasova V. P., Tarnovska I. V.
Foreign Experience in Implementing Concession Projects in the Social Sphere in the Context of the COVID-19 Pandemic (p. 48 - 54)
The article substantiates that concession is an effective instrument for the implementation by countries of social projects aimed at solving the urgent needs of territorial communities in the context of the COVID-19 pandemic. It is emphasized that the application of concession activities allows countries to remain the owner of objects, while maintaining administrative and control functions. The peculiarities of application of public-private partnership models under the concession agreement are presented. The foreign experience of implementation of concession projects in the social sphere is generalized, in particular, successful practices of attracting investments in the conditions of financial decentralization are considered. It is determined that the most popular areas for the implementation of concession projects are transport (34%), environment (16%), education (14%), telecommunications (7%), healthcare (5%), and other sectors (24%). It is specified that concession activities abroad, as a rule, are regulated by separate legislation, the cooperation of the public and private sectors is based solely on contractual relations, according to which the private operator is guaranteed to receive remuneration for the work performed or services provided from a public organization and/or direct users. Based on the carried out research, the reasons for the widespread use of concession as a form of public-private partnership in different countries are determined, among which the main are: more effective management of projects on the part of the private sector; lack of financial resources of the State and the willingness of the concessionaire to take most of the risks from the implementation of large-scale infrastructure projects. Concessional shortcomings are also presented, which include: lack of professional management experience at the regional and local levels from private partners who implement projects for the first time; significant level of financial risk to the private sector, including the likelihood of bankruptcy; political and socioeconomic situation in the world due to the consequences of the COVID-19 pandemic. Upon the grounds of a generalization of world experience, the main directions of monitoring the impact of COVID-19 on concession projects are allocated, which can assist in determining the appropriate level of actions that can be taken by governments.

Article is written in Ukrainian

Kondratenko N. O., Mushchynska N. Y.
World Experience in Managing Social Protection (p. 55 - 60)
The article is concerned with studying the world experience in managing social protection of the population. The concept of «social protection», the formation of priorities for managing the social protection system from the standpoint of international organizations, and a description of social policy models that characterize the system of social protection of the population and the definition of certain recommendations for Ukraine are defined. It is specified that Ukraine lacks in legislative definitions while showing a certain disorder of legislative use of the terms of «social protection» and «social security». It is noted that there are still some disagreements as to the main purpose of social protection. That is, each country (organization, politician, etc.), forming the priorities of the social protection system, must decide what is the most important and significant at the very moment. A critical analysis of existing theories and practices of social protection management of the population was carried out; the main empirical approaches to the construction and management of the social protection system used by international organizations are determined. The models of social policy are classified in the studies of domestic and foreign scholars taking into account the following criteria (subject of responsibility, purpose/priority of social protection, political basis, social protection instruments, typical countries) and conclusions about the implementation of these models in Ukraine are drawn. It is also concluded that the situation in Ukraine, as in many countries of the world, is characterized by a number of programs that have appeared in recent years and provide a certain degree of protection, but do not have a legal substantiation. Such initiatives cannot be considered as proposals of the same amount and scope based on the law, because they do not establish legal rights or rights to be exercised. At the same time, they play an important role in improving the situation of those who benefit from them.

Article is written in Ukrainian

BUSINESS INFORM №1-2022

Lavreniuk V. V., Lavreniuk A. V.
Improving the Financial Literacy of the Population: The Foreign Experience (p. 59 - 67)
The article is aimed at studying foreign experience in improving the financial literacy of the population and possible ways of its implementation in Ukraine. The article substantiates the need to increase the financial literacy of the population in the context of strengthening financial inclusion. The level of financial literacy of the population of Ukraine, as reflected by the Financial Literacy Index, which is calculated according to the USAID methodology, is analyzed. Based on the study of theoretical and methodological approaches, the essence of the category of «financial literacy» is disclosed. Four areas of formation of cognitive knowledge, competences and skills as to the financial literacy of financially isolated and low-income citizens are defined: 1) availability of basic financial services; 2) availability of mobile banking services; 3) availability of microfinance; 4) availability of innovative FinTech solutions. The study of foreign experience demonstrated the development of various directions of improving financial literacy: 1) involving business in improving financial literacy; 2) improving the financial literacy of schoolchildren and young people; 3) improving the financial literacy of the poor population; 4) improving financial literacy in the workplace; 5) remote improvement of financial literacy; 6) national programs to improve financial literacy. The study of international best practices allowed to identify a number of problems in the domestic practice of strengthening financial literacy, namely: 1) insufficient work with vulnerable groups of the population (taking into account age and geography); 2) problematic age categories are: 18-24 years old (especially 18-19 years old) and over 60 years old; 3) rural population has low financial literacy; 4) a significant proportion of bank depositors do not know about the existence of guaranteeing deposits of individuals; 5) a small number of bank customers know that banks must disclose information about the real interest rate on loans. In order to increase the level of financial literacy of the population, taking into account the best foreign experience, the need to introduce the following measures is substantiated: 1) teaching children basic economic categories from an early age; 2) development of special compulsory financial literacy courses for schoolchildren; 3) creation of a system of teacher training; 4) popularization of the need to increase the level of financial literacy (master classes, round tables, lectures, seminars, conferences, methodological literature, etc.); 5) creation of information and advisory centers for providing assistance to the population on financial issues; 6) media involvement, use of social networks, development of websites, platforms for the development of financial literacy. Prospect for further research in this direction is the development of models for quantitative assessment of the impact of the level of financial literacy on financial inclusion by means of: 1) logistics regression; 2) Probit regression. Further attention require the management of risks associated with financial literacy, financial behavior and financial inclusion.

Article is written in Ukrainian

Shuba O. А.
Leading Trends in the Process of Virtualization of the World Stock Market (p. 67 - 73)
The article is aimed at studying the current state and trends in the process of virtualization of the world stock market. The modern stage of virtualization of the world stock market is analyzed, which is marked by the development of existing and the emergence of new electronic financial services and electronic money; increasing the scale of use of electronic payment systems, cashless payment systems and the spread of virtual currencies (cryptocurrencies). Among the main consequences of the process of virtualization of the world stock market, the article determines the consolidation of exchanges, the rapid pace of development of over-the-counter trade; increase in the volume of trade in virtual derivatives in order to obtain speculative profits; broadening of the sphere of application of cryptocurrencies. It is noted that there is a phenomenon of speculative virtualization, the essence of which is to orient financial market participants to profit from price fluctuations in the value of financial assets (stocks, bonds and derivatives). It is also specified that contemporary exchange technologies allow to create exclusive financial instruments, which are essentially virtual capital, which without material grounds forms a tendency to self-growth. Attention is paid to the process of increasing fictitious-speculative capital, which is unmanageable, while existing in the form of stock instruments that in turn exist independently of their own material basis, in a state of independent self-growth. It is concluded that the modern stage of virtualization of the world stock market contains two main aspects: first, the dominance of virtual (digital) infrastructure (trading platforms, fundamentally new consolidated clearing systems); secondly, the growth of virtual speculative derivatives of financial instruments, which is facilitated by the use of IT and innovative software. Among the consequences of virtualization of financial markets, a change in the structure of investors is also considered: if earlier institutional investors were the main participants in the stock markets, then in recent years, thanks to information technology, the number of individuals who now also risk significant financial losses has been growing.

Article is written in Ukrainian

Avhustоva O. O., Romashko O. M., Kuzmenko O. P.
Corporate Reporting: European Experience (p. 74 - 82)
Disclosure of environmental, social and governance aspects (ESG) in the activities of companies of the European Union Member States (mainly large and medium-sized businesses) has recently become increasingly relevant. The purpose of the study is to summarize the European experience regarding the essence, format of presentation, contents, regulatory support and the main problems that arise in the preparation of corporate reporting. The article determines that corporate reporting in the EU is at the stage of development and continuous improvement, since information requests of internal and external stakeholders are changing daily, to which the management of companies has to respond promptly and efficiently. European experience in understanding the economic essence of corporate reporting is considered. The main prerequisites for the implementation of corporate reporting and elements of the non-financial component of corporate reports in the EU are allocated. The regulatory support operating in individual Member States of the European Union on the formation of corporate reporting (the scope of the company’s activities, non-financial indicators reflected in the reporting, etc.) is considered and analyzed, which constitutes an important basis for the development of the principles of sustainable development. The main proposals on corporate reporting on sustainable development, submitted in 2021 by the European Commission, are outlined. The most common reporting formats reflecting the effectiveness of the implementation of ESG aspects at enterprises are considered. It is determined that the formation of a non-financial component in corporate reporting provides specific benefits for the company, helps to strengthen investor confidence, be more transparent, open up access to new sources of capital for companies, but at the same time it is a troublesome process that creates new challenges for the scientific community and business.

Article is written in Ukrainian

Savchenko M. V., Kleshchenko B. S., Sheihets A. M.
International Taxation, Features of the Functioning of Tax Systems in the Leading World Countries (p. 82 - 88)
The article is aimed at defining the concept of international taxation and its role in the development of society, the impact of tax systems on the economic growth of the countries of the world, the peculiarities of the tax systems of developed countries and their place in the ranking on the index of international competitiveness of a tax system. The main changes in taxation in developed countries are also investigated, a rating was compiled and an analysis is carried out on the basis of indicators of tax revenues and competitiveness. Analyzing, systematizing and generalizing the scientific works of many scholars, contemporary models of taxation, along with features and differences of tax systems of the leading countries of the world were considered. Thus, it is found that the main source of budget revenues compared to other sources is taxes – both in developed and developing countries. Taxation is the main function of management. It has the potential to form relations between the State and society. Tax revenues allow countries to ensure security and provide public goods. In addition, tax policy, which complements monetary policy, is vital in maintaining economic stability by limiting inflation and balancing equilibrium in the market. As a result of the study, the main taxes used to measure the International Tax Competitiveness Index concerning a particular tax system are determined, an analysis of the change in the position in the rating of the International Tax Competitiveness Index of the G7 countries is presented. Prospects for further research in this direction are to substantiate the relationship between the functioning of the tax systems of the G7 countries and the economic situation and development of these countries, as well as the impact of tax revenues on GDP. There is a need to identify the main tendencies in the functioning of tax systems of the leading world countries, determine the impact of external factors on tax policy, as well as assess the tax systems of developed countries according to the International Tax Competitiveness Index.

Article is written in Ukrainian

BUSINESS INFORM №3-2022

Bielikova N. V., Doronina M. S.
Foreign Experience in Solving Problematic Situations in Terms of Regional Development after Military Conflicts (p. 10 - 16)
The military aggression of the RF, which began on the 24th of February 2022, has already led to a huge number of deaths, the loss of industrial enterprises due to their complete or partial damage, the destruction of housing and other social infrastructure. These and other grave consequences together indicate a huge humanitarian catastrophe in our country. Currently, it is impossible to estimate all the losses of Ukrainian economy from the war owing to lack of statistics, but the projected drop in Ukraine’s GDP in 2022 will range from –10% to –40% provided that the active phase of the war lasts no longer than several months and the geography of the occupied territories does not expand. The projected economic decline as a result of hostilities is exacerbated by a sharp decrease in export opportunities due to the blocking of seaports, the loss of metallurgical enterprises, impossible sowing activities because of the mined agricultural fields, etc. As of April 2022, the most war-affected were nine regions of Ukraine, which in 2020 accounted for 30% of the country’s GDP, including the Kharkiv region. Under these conditions, it is useful to study foreign experience in solving problematic situations in terms of post-conflict regional development. The purpose of this article is to generalize foreign experience in solving problematic situations and economic recovery in different world countries together with their regions after military conflicts. The carried out analysis of the impact of military conflicts on the economies of the affected countries indicates the rapid dynamics of the fall in GDP per capita after the military actions. Therefore, the issue of creating effective mechanisms for solving problematic situations in regional development caused by the war arises immediately after the completion of hostilities. The peculiarities of the implementation of the Marshall Plan as an exhaustive example of an effective mechanism for the reconstruction of the economy of European countries and their regions, the elimination of trade barriers, the restoration of production potential, and the development of a democratic society are researched. An analysis of the experience of Yugoslavia after the Second World War, when obtaining assistance from the United States, which allowed to introduce a sufficiently effective State policy to stimulate the socioeconomic development of the country’s troubled regions, is carried out.

Article is written in Ukrainian

BUSINESS INFORM №6-2022

Romanenko S. S.
Foreign Experience in Management of the Development of Sports and Health Activities (p. 14 - 19)
In the conditions of military aggression and hostilities taking place in Ukraine, the problems of sports and health activities, unfortunately, are relegated to secondary positions. A large part of the sports infrastructure is destroyed by the enemy, training and competitions were stopped for the most part, threatening the loss of the country's sports potential. The industry has experienced a significant reduction in funding, and some promising athletes have moved out abroad. Studies have shown that currently there are no systematic scientific and practical developments regarding the formation and development of the sports and health sector in the conditions of hostilities and the postwar period, which limits our possibilities in the terms of prediction and forecasting for the future, nonetheless actualizing further research in this direction. The industry has experienced a significant reduction in funding, and some promising athletes have gone abroad. Studies have shown that currently, there are no systematic scientific and practical developments regarding the formation and development of the sports and health sector in the conditions of hostilities and the post-war period, which limits our possibilities in the framework of prediction and forecasting for the future and actualizes further research in this direction. The article aims to study the foreign experience of managing the development of sports and health activities and the possibility of its use in Ukraine. The experience of leading countries in managing sports and health activities has been studied and systematized. The possibilities of implementing particular mechanisms and tools into the national model at its current reorganization stage have been determined. It is noted that currently the basic condition for the development of the system is the search for the most optimal balance of powers between the State, regions, and the private sector regarding the management of this sphere, which includes the advantages of the American model on the one hand (primarily in terms of creating favorable conditions for attracting private capital) and the European model on the other hand, which involves moderate handing over on the part of the State by establishing priorities, coordination of economic entities and targeted funding of priority areas. It is noted that the defining features that are characteristic of the management system of sports and health activities in all countries that have achieved high results in this sphere are, first of all: a developed regulatory and legislative framework and institutions, the clear State-controlled priorities for the development of sports, diversified sources of funding and instruments for stimulation of entrepreneurship, as well as close attention to personnel training and development of science and technology in the industry.

Article is written in Ukrainian

BUSINESS INFORM №7-2022

Shuba M. V., Frolova V. R.
The Population Aging in the European Union: Features and Socioeconomic Consequences (p. 11 - 17)
The article is aimed at determining the characteristics and socioeconomic consequences of the population aging for the countries of the European Union. The article presents the proportion of the population over 65 years of age of the total population of the EU for the period 2011-2021, identifies the EU countries with the largest and smallest proportion of the elderly population in the total population, as well as changes in this indicator in 2021 compared to 2011. It is determined that the main reasons for the increase in the relative proportion of older people in the EU are an increase in life expectancy and a consistently low birth rate over the years. The data as to life expectancy at birth along with the dynamics of birth rate in the EU are provided. The coefficient of demographic load of the elderly population in the EU is considered. The correlation coefficient between the elderly population and GDP, as well as between the elderly population and household consumer spending, is computed. The result indicates a close relationship between these indicators. Among the main socioeconomic consequences of the population aging are the reduction of supply in the labor market, the impact on the rate of economic growth, changes in the amount of savings in the financial system, the budget deficit of pension systems, the growing burden on the bodies of health care system, etc. Three options for the influence of the EU Member States on the current situation are given: encourage marriages or cohabitation and the birth of children; carry out additional activities to attract immigrants of working age; develop new social policy measures aimed at mitigating the negative effects of the population aging. One of the main instruments to overcome the negative consequences of the aging process of the population be the effective realization of the resource potential of the older generation. Measures to increase the size of the workforce, such as lifelong learning and employment policies for the elderly, are also defined as important.

Article is written in Ukrainian

Shuba O. А., Lotkina V. V.
The Current State of Neobanking in the USA and European Countries (p. 17 - 24)
The purpose of the article is to study the current state and trends of neobanking in the United States and European countries. It is noted that the world highest indicator of the number of customers who have bank accounts exclusively in digital format was recorded in the United States. A further increase in the number of such clients is predicted, firstly, due to the existing potential of the population, and secondly, due to the increase in the number of banks that conduct operations exclusively in digital format. In 2022, the value of neobanking transactions in the United States should reach 1.2 trillion U.S. Dollar, and in 2017 it amounted slightly over 9.0 billion U.S. Dollar. The cost of a transaction per user of neobanking in 2021 was on average about 25 thousand U.S. Dollar per year and showed a tendency to grow. At the beginning of 2022, 60 neobanks were registered in the United States. It is noted that in Europe the first neobanks began to appear in 2015, and financial companies in the UK, Germany, France and Finland were the leaders of a new movement – the fintech industry. Over time, this trend has spread to other European countries, where there are now more than 70 neobanks. The positive dynamics of the number of consumers of neobank services is formed due to a number of advantages, including not only online service. Neobanks have the following advantages compared to traditional banks: they offer more attractive interest rates on deposits due to savings on the maintenance of branches and employees; they have a simplified process of granting loans through the use of modern technologies for assessing the credit risk of customers; they offer lower tariffs, sometimes there are no fees for card service and money transfers; they have fundamentally new solutions for conventional banking services, providing services for automatic analysis of account transactions and offering users of accounts personalized financial solutions. It is concluded that the main trends in the digital banking market in Europe are the following: focus on national markets; vital activities of traditional banks to expand digital banking services; gradual transformation of neobanks into full-fledged banking institutions.

Article is written in Ukrainian

Xu Weidong
Implementation of Innovative Processes to Ensure the Development of the Social Infrastructure of China (p. 25 - 31)
Implementation of dynamic processes of innovative transformations in the social sphere of many countries of the world is a guarantee for an effective management of their socio-economic systems. Today, the People’s Republic of China (PRC) is trying to find its own approach to the effective development of the social infrastructure of the territories, the problem of which is actualized in the context of large-scale socio-economic reforms, and the possibility of a solution is supported by the significant growth of the innovative potential of the PRC. It is noted that maintenance at the achieved level and further socio-economic development of the state are not possible without regular implementation of innovations. China is one of the world’s technological and scientific leaders, adapting quickly and creating its own innovations. However, the development of the social sector requires separate innovative initiatives and projects. It is determined that social innovation has been promoted as China’s national development strategy since the mid-2010s. New ideas, patterns of organizational behavior, and political agendas have been transformed into social innovations. These events create a climate that promotes social innovation as a general conception. The views of scientists of the People’s Republic of China regarding the harmonious social development of Chinese society were considered, including the implementation of the priority strategy of education; improving the health care system; active implementation of employment policy; creation of a fair distribution system; fair social guarantees; coordinated development of regions. The steps for implementing China’s socio-economic breakthrough strategy are highlighted: first, increasing the share of the market economy and reducing the level of support for the state-owned enterprises; secondly, stimulation of the domestic market and consumption; third, improving social protection, which will help solve the demographic problem; fourth, invest in the development of less polluting industries, gradually reduce the number of thermal power plants, switch to alternative energy sources; fifthly, the fight against corruption and strengthening the rule of law are of fundamental importance.

Article is written in English

BUSINESS INFORM №10-2022

Duginets G. V., Lukianenko V. V.
The Management Activities in International Companies in the Post-COVID Period (p. 21 - 26)
The global COVID-19 pandemic has caused significant uncertainty in international business. This is due to the fact that the spread of the virus significantly affects the State policy on social restrictions, as well as on the economic behavior of the population, which, in turn, leads to the development of crisis phenomena in business. Therefore, international companies must adopt new corporate behaviors that are in line with proper health protocols, but taking into account the existing significant differences in the activities of these companies. The aim of the study is to identify the features of the transformation of management activities in international companies in the post-COVID period. The study was conducted using methods of theoretical generalization, comparative analysis, synthesis, induction and deduction, which allowed to establish the risk factors of the COVID-19 pandemic for business, as well as their impact on the formation of a management strategy for international companies in the post-COVID period. As a result of the analysis of factual material, approaches to business risks management in connection with the COVID-19 pandemic are summarized. They include the study of macro- and micro-risks from an economic point of view and their impact on consumer behavior along wuth purchasing power. As result of the pandemic, businesses have experienced difficulties owing to a decrease in trade turnover caused by a decrease in consumer demand. It is proved that the easing of social restrictions on economic activity with regard to the danger of transmission of COVID-19 should be interpreted taking into account possible risks for international companies. That is, there is a need to transform risks management in international companies as response to COVID-19. It must be carried out in a disciplined manner and with zero tolerance for any negligence. It is substantiated that the new model of management activities of an international company should help control the spread of COVID-19 and, accordingly, should include three main stages – planning, introducing, and embedding. Future research in this scientific field will be more focused on the development of a risk management instrumentarium, based on the differentiated needs of international companies, which are due to the presence of significant differences in their activities.

Article is written in Ukrainian

BUSINESS INFORM №11-2022

Kyzym M. O., Salashenko T. I., Kotliarov Y. I.
Development of Heat Energy Markets: Experience of European Countries and Conclusions for Ukraine (p. 64 - 75)
The purpose of the article is to study the European experience of the functioning of heat energy markets, identify the components of their deregulation, and develop proposals for the formation of regional heat markets in Ukraine. The article stipulates that currently there is no trans-European legislation on the formation of heat energy markets, there are only certain provisions that relate to its production, consumption and accounting. From a theoretical point of view, there are three types of competition in the heat energy markets: between heat supply sources; between producers of centralized heat; between companies for assets. The analyzed experience in the development of heat energy markets in three European countries testifies to the fundamental differences in its structure. Denmark’s heat energy markets are government-regulated, where there is a partial distinction between the functions of production, transportation, and distribution of heat; pricing is carried out on a regulatory basis of non-profit; there are no transparent conditions for access to the network, and the consumer has limited opportunities to disconnect from the system. In Sweden, competition is open at the wholesale level between heat producers; the functions of production and supply are demarcated, and the distribution and supply functions are combined; the retail heat market is self-regulating, which implies the need to coordinate heat prices between suppliers and consumers who, in case of disagreement, have the opportunity to refuse centralized heat supply. Lithuanian heat energy markets are open to wholesale competition and operate in the forward segment, while at the retail level they are regulated, where the transmission from production and supply has been unbundled; regulatory access to heating networks for independent producers has been introduced, and consumers have the right to refuse centralized heat supply. The highlighted features allowed to provide proposals for the formation of heat energy markets in Ukraine, including: the development of competition between heat producers; delimitation of the functions of production, transmission and distribution; formation of its forward, spot and balancing segments; introduction of auctions with the declared pricing method under the pressure of regulatory price restrictions, which are established on the basis of business standards according to the benchmarking system.

Article is written in Ukrainian

BUSINESS INFORM №12-2022

Nestor O. Y.
The Instruments for Implementing the Marshall Plan and Features and Consequences of the Impact of American Policy on Europe (p. 87 - 92)
The article discloses the range of instruments used by the Economic Cooperation Administration (ECA) during the implementation of the Marshall Plan: invitations to action, consultations, cooperation of specialists, joint responsibility, analysis of national accounts, a range of analytical approaches, persuasion, control over the assistance provided, the right to vote on the use of funds from auxiliary partner funds, project procedure, technical assistance. Some of them were much more efficient and effective than others, for example, consultations, cooperation of specialists, technical assistance. The program of restoration of Europe was a common cause of the USA and Europe, during its development conditions were not imposed that contradicted the interests of Europeans and did not subordinate the economies of European countries to the economy of the United States of America. The goals of the Marshall Plan were ethically sound, which was very important for establishing trust in the United States and acting to achieve mutually beneficial goals. The course was set on democratic world leadership, not imperialism. The article discusses the impact of the United States on the European economy during the implementation of the Marshall Plan, as well as aspects of the influence and engagement of the United States of America. The peculiarities and consequences of the influence of American policy on Europe are analyzed, in particular: large-scale goals of the Marshall Plan, clear administration, mutual understanding and respect, political and economic reliability, coherence between principles and actions, and others. It is recommended to use the following instruments for the recovery program of Ukraine: consultations, cooperation of specialists, joint responsibility, control over the assistance provided along with the right to vote on the directions of its use, project procedure, technical assistance. It is noted that this list is not exhaustive, therefore, during the implementation of the «Marshall Plan for Ukraine», new instruments for implementing the assistance program, both universal and specific, can be created that can be applied only in the context of the Ukrainian situation.

Article is written in Ukrainian

BUSINESS INFORM №4-2023

Li Zongkeng, Li Zhuoran, Sokhan I. V., Zhuquan Yang
Study on the Features of Balanced Economic and Social Development in Ethnic Regions of Southwest China under the Perspective of Common Prosperity (p. 21 - 26)
With economic and social progress, the focus of regional unbalanced development has evolved. In the new era of socialism with Chinese characteristics, people’s aspirations for a better life are no longer limited to material and cultural necessities; the notion of a better life has become increasingly diversified, transcending individual or family micro-level welfare to embrace a comprehensive perspective of societal development. Focusing on the ethnic regions of Southwest China, this paper examines the fundamental characteristics of their coordinated economic and social development and offers relevant policy recommendations that provide a theoretical framework for scholars studying balanced regional economic growth. This study describes the characteristics of balanced economic and social development in Southwest China’s ethnic regions in four dimensions: sustainable economic growth, social stability, ecological civilization construction, and people-centered development ideology. Through comparative analysis, it presents a synthesis of domestic and international research, and summarizes the theoretical foundations and practical experiences essential for the future development of Southwest China’s ethnic regions. This paper examines four key elements for the development of ethnic regions in Southwest China. First, it emphasizes high-quality economic growth, which increases total factor productivity through supply-side structural reform and promotes the establishment of a modern industrial system. Second, social stability, a crucial component in realizing a better life, requires strengthening social justice and strengthening the social security system while maintaining national unity. Third, the paper stresses the importance of building an ecological civilization and advocates green technology, green industry and green consumption to achieve sustainable development. Finally, a people-centered development ideology safeguards livelihoods and focuses on education, income distribution, employment, and other areas. This paper explores the basic characteristics of coordinated economic and social progress in Southwest China’s ethnic regions, and provides a theoretical framework for scholars to explore balanced regional economic development.

Article is written in English

Liu Lin
Analyzing the Experience of China and Uzbekistan in the Industry of Agriculture (p. 27 - 33)
China’s mega-project «One Belt, One Road» is a continuation of the government project known as the «New Silk Road», aimed at creating a transport corridor between China and European countries. Within the terms of this project, the countries of Central Asia, to which the Republic of Uzbekistan belongs, were assigned the role of territories through which several complementary branches of transit of Chinese goods to Europe and South Asia pass. The article’s purpose is to study the status and possibilities of interstate cooperation between the PRC and Uzbekistan in the industry of agriculture along with implementation of related infrastructure projects. Cooperation between the two countries is directed not only towards the development of transport and infrastructure facilities, but also of some industries, attractive for export-import activities of both countries, particularly, agriculture. The common features of socio-historical development and the absence of ideological antagonism between governments contribute to their harmonious economic cooperation. The reforms carried out in China’s industry and agriculture had both positive and negative consequences. As industrialization continues to spread rapidly in the country, huge agricultural areas are turning into industrial zones. As a result, there is a problem of insufficiency of territories suitable for agriculture. The Republic of Uzbekistan is the sixth largest producer and second largest exporter of cotton in the world. In recent years, the acreage in the country has decreased significantly. The main reason is the lack of water. Cooperation between the two countries is aimed at overcoming these problems. Attracting China’s investments exclusively into agriculture of Uzbekistan, without the implementation of related infrastructure projects, will not give a significant economic effect. Among the intentions of joint cooperation between China and Uzbekistan is also the construction of solar power plants, renewable energy facilities, telecommunications networks and infrastructure projects.

Article is written in Ukrainian

BUSINESS INFORM №5-2023

Ilyash O. I., Lupak R. L., Smoliar L. G., Khaustova V. Y., Boiarynova К. О.
A Composition of Comparative Characteristics of Social Policy of European Countries (p. 24 - 32)
The aim of the study is a scientific substantiation and compositional presentation of comparative characteristics of social policy trends in a number of European countries, taking into account a certain set of social security criteria and drawing analytical conclusions about their changes. The relevance of expanding the spheres of implementation of social policy, conditioned by the current transformations of social values and rapid technological development of the world economy, is substantiated. This requires constant monitoring of social changes and analysis of the impact of the global environment on the socioeconomic development of countries. Some comparative characterizations of social security of the population of several European countries are provided according to a number of criteria (ratification of the updated ILO Conventions on Social Security, effective social protection coverage (including the SDG indicators 1.3.1, 3.8.1), expenditures on health care and social protection, legislative coverage of social protection, child and family benefits, maternity protection, sickness assistance, protection against occupational injuries, protection against unemployment, disability benefits, old age pensions). The clear difference between the social policy of Ukraine and the European countries, which is mainly related to the socioeconomic situation of our country and has intensified since the beginning of the aggravation of hybrid threats and the need for military protection, is emphasized. The tendencies that determine the critical necessity of the current reforms in social policy and having a significant impact on the socioeconomic situation of the European countries are allocated. The further deepening of social problems and the need for even more active reform of the social sphere are emphasized. It is concluded that the main task of Ukraine in the current conditions is to meet the basic needs and interests of society, to maintain the basic processes of life of society, to ensure the development and creation of social values at a sufficient level.

Article is written in Ukrainian

BUSINESS INFORM №8-2023

Galutskykh N. А., Didorchuk I. L., Koshkarova Y. L., Shuba O. А., Takhtaulova A. V.
The Current State of the U.S. Foreign Debt (p. 43 - 53)
In recent decades, the world economy is characterized by a constant increase in external debt of almost all countries of the world (the only exceptions are those countries to which investors and creditors have no confidence), which exacerbates the problem of world debt and the interdependence of creditor countries and debtor countries. The article is aimed at analyzing the current state of foreign debt of the United States as a country that still has an impeccable credit history and high credit ratings, and at the same time in many publications is considered as a potential threat to the whole world in case of default. During the studied period (70 years), the U.S. external debt has been constantly growing, and the trend analysis conducted in the work indicates that this growth will continue in the medium term. The U.S. foreign debt in absolute terms is the largest in the world, having almost doubled over the past 10 years. At the same time, among the countries that have the highest ratio of total public debt to GDP, the United States ranks only fifth, because the USA have the largest GDP in the world. Among the main reasons for such a significant public debt, analysts point out the world’s largest military budget, significant tax cuts in recent years and significant costs to overcome the consequences of COVID-19. Due to the high level of GDP, high credit ratings and the status of a reserve currency in the U.S. dollar, the U.S. government securities are attractive to investors. Central banks of other countries, pension, insurance and investment funds still have a sufficient level of confidence in the United States and invest financial resources in debt securities of the U.S. government. The prospects for the U.S. foreign debt depend on the ability of the Federal Reserve System (FRS) to find solutions to domestic problems, among which the most acute are rising inflation and reducing household spending. A U.S. default is considered extremely unlikely, but in case of its announcement, it would have serious consequences for the global economy, creating uncertainty not only for the U.S. economy, but also for global financial stability. A default on the U.S. external obligations would result in a downgrade of the U.S. credit rating, which would cause significant volatility in the global stock market, a drop in stock indices and an increase in the cost of borrowing, which, in turn, would significantly reduce the ability of businesses and households to obtain loans. The fall of the U.S. dollar, which will result from the announced default, will cause commodity prices, including oil, to rise, leading to higher inflation globally. There will also be problems with supply chains in international trade.

Article is written in Ukrainian

Karpenko M. Y.
Formation of Local Budgets Revenues in the EU Member States (p. 53 - 64)
The aim of the article is to generalize and systematize the experience of formation of local budget revenues in the EU Member States. It is determined that the average value of the ratio of local budget revenues to GDP in 27 EU Member States for the period 2001–2022 is 12.24%, but the range of values of this indicator varies significantly by country. Thus, in island countries, such as Malta and Cyprus, this ratio is 0.58% and 1.69%, respectively, while in Denmark it constitutes 33.67%. Transfers have the highest fiscal significance in the structure of budget revenues of local budgets, followed by tax revenues. Tax revenues of local budgets include the category of local taxes and fees, as well as split revenues from national taxes (shared taxes). The category of the latter includes personal income tax and corporate tax. The article computes the degree of budgetary decentralization in the sphere of income in the EU countries. The most decentralized in terms of income are the Nordic countries, as well as countries with a three-tier budget system. In the sample of Central European countries that are members of the EU, the highest level of decentralization display the Czech Republic and Poland. The main source of tax revenues for local budgets is property taxes. The key advantages of including these taxes in the local ones are the immobility of the tax base, as well as the greater awareness of local authorities compared to the central authorities regarding the property status of residents of the territorial community, so it is a logical step that local authorities, in the vast majority of cases, set tax rates and determine tax benefits. It is found that in the EU Member States, in the vast majority of cases, two classic real estate objects – land and buildings – are taxed at the same time. However, in some cases, only land can be taxed – this practice is present, for example, in Estonia and Denmark, and in Lithuania, the Netherlands and Ireland, the object of taxation is buildings located on land plots, and the land itself is not subject to such taxation. The directions of increasing the fiscal efficiency of property taxes are substantiated.

Article is written in Ukrainian

BUSINESS INFORM №9-2023

Mukhin V. А., Bielikova N. V.
Directions and Prospects for the Implementation of Foreign Experience in the Restoration of Socioeconomic Development after Military Conflicts (p. 19 - 26)
One of the most powerful in terms of the scale of destruction during the war, the involvement of the population in hostilities and the speed of post-war recovery is the experience of countries that went through World War II. In addition to the Marshall Plan, history has several other examples of successful post-war recovery of socioeconomic development, the return of the potential destroyed by the war, as well as the successful post-war modernization of the economy. In this regard, some further deepening requires research on the directions and prospects for the implementation of foreign post-war experience in the realities of Ukraine, also the search for ways to address possible problematic issues that will accompany this process. The aim of the article is to generalize the foreign experience of post-war economic recovery and analyze the possibilities of its implementation in Ukraine and its regions in the post-war period. An analysis of the mechanisms and features of the post-war recovery of South Korea, Japan, and Germany is carried out and it is determined that the common point for all countries is the combination of international assistance (its transparent and effective use) and the creation of the country-specific mechanisms for post-war recovery, corresponding to national socioeconomic institutions. It is substantiated that the ongoing monitoring and assessment of losses indicate significant damage, which Ukraine is unlikely to be able to compensate for on its own. On the positive side, the availability of donor support is one of the success factors in the post-war recovery of the countries analyzed above. It is determined that the presence of significant losses to the economy after the war does not mean that post-war recovery cannot be effective. On the contrary, the experience of foreign countries that successfully recovered in the post-war period shows that sufficient amounts of donor assistance and a transparent mechanism for its use is the key to the recovery of industry on a qualitatively new basis and an increase in the efficiency of the economy as a whole compared to the pre-war period. It is proved that an effective post-war recovery plan for Ukraine must necessarily take into account national and regional characteristics, for example, when determining priorities for the first-order recovery – industries that have innovative competitive potential. In the process of post-war recovery, the model of the economy should change by modernizing each of its components, which will ensure its efficiency and resilience to external and internal challenges in the future.

Article is written in Ukrainian

Shchupakivskyi R. V.
The Global Experience of Setting up and Developing a System of Public Administration of Digitization Processes: The Institutional Basis and Resource Provision (p. 26 - 31)
The aim of the article is to generalize the global experience of setting up and developing a system of public administration of digitalization processes, focusing on the institutional basis and resource provision. Analyzing, systematizing and summarizing the scientific works of numerous scholars, also taking into account the dynamic trends of deepening globalization and neo-industrialization, conclusions are drawn about the constant development and active use of new mechanisms and means by highly developed countries in the implementation of digital transformation of the economy. As a result of the study, it was found that the system of public management of digitalization processes is built in accordance with the established institutional basis (existing regulatory framework; adopted strategies, target programs, conceptions, projects). On the example of numerous highly developed countries, the progressive spread of e-government in the system of public regulation of the digital transformation of the economy is underlined, which provides for the transfer of a number of administrative services to the information and communication format, the creation of a system of electronic interaction of public authorities, the formation of digital platforms for communication of the regular people, business, and the State institutions. It is emphasized that despite the absence of separate bodies in the system of the State power, some countries create non-government institutions to organize the digital transformation of the economy. It is proved that an important structural component of the national policy of digitalization is resource provision, and first of all, the accumulation of financial and investment resources through investment funds (agencies), banking structures, credit organizations, and other institutions. The priority object of the State policy for the development of the digital economy sector is considered to be institutional and infrastructural support. In this context, an important role of research structures in the development of digitalization of the economy is highlighted. Prospects for further research in this direction should be considered to determine, in accordance with the successful experience of highly developed countries, other priority areas of public regulation of the digital economy sector, taking into account organizational, economic, technological, and other features of digital development.

Article is written in Ukrainian

Melnyk M. I., Leshchukh I. V.
European Experience in the Formation and Implementation of Youth Policy in the Context of Social Protection, Youth Development, and Preservation of Human Potential (p. 32 - 40)
The article studies the European experience of formation and implementation of youth policy in the context of social protection, youth development, and preservation of human potential on the example of the Nordic countries (Norway, Denmark, Sweden, Iceland, Finland, Great Britain, and the Baltic countries). The common features of the youth policy of the studied countries are revealed as follows: the inter-sectoral nature of youth policy; multi-aspectivity in substantiating the strategic objectives of youth policy; decentralization of the administration system; observance of parity between the State and the civil society structures; focus on strengthening the involvement of young people in the life of society; ensuring equal opportunities for different social groups of young people; protection of young people in the labor market, etc. The basic principles laid down by the Nordic countries in the substantiation and implementation of youth policy are established as follows: participation of young people in public life at the local and regional levels should become part of the general policy of involving citizens in public life; the strategies that are implemented in all areas should include a youth component, so local and regional authorities are obligated to ensure in practice various forms of youth participation in the life of society; the provisions and various forms of participation in society apply to all young people without discrimination. This study will be useful in developing specific proposals for upgrading the National Youth Strategy until 2030, as well as in updating the list of measures for its implementation in 2024-2030.

Article is written in Ukrainian

Varvashenko V. A., Matyushenko I. Y.
The Features of the Development of the Green Economy of the People’s Republic of China (p. 41 - 49)
The article is aimed at assessing the current state of development of the green economy of China and providing recommendations for the development of the economy of such kind. As a result of the study, the definition of the «green economy» was analyzed, information was collected on the origins and development of the conception of the green economy, which covers economic, environmental, and social factors. The place of the People’s Republic of China among the selected countries (Canada, the USA, Germany, Japan, Turkmenistan, Ukraine) according to certain indicators of the green economy, in particular: CO2 emissions, the use of renewable energy sources, research and development costs, air pollution called PM2.5, total greenhouse gas emissions were substantiated. The article also compares the indicators of the green economy in the PRC with the average for all countries of the world. Recommendations for further development of the green economy in the PRC are provided, in particular, it concerns: increasing the volume of construction of environmental protection infrastructure and improving the environmental protection system; increasing investment in education and focusing on human capital; strengthening financial support for the green economy; improvement of the mechanism of patenting inventions and transformation of scientific and technological achievements; combination of the economic and the green development; deepening reforms and opening up to improve the quality of foreign investment. Prospects for further research in this direction are the assessment of the green economy of the PRC in the regional context on the basis of entropy along with systematization of existing indicators, as well as the construction of an own system of indices to assess the level of development of the green economy. Based on the calculated results of the assessment, it would be advisable to provide appropriate policy recommendations for each region of China in order to further develop the green economy.

Article is written in Ukrainian

Synianskyi G. O.
Drivers of German Economic Development in the Context of the Megatrend of Digitalization (p. 49 - 55)
Digitalization is one of the key modern drivers of influence on the development of the economies of both individual countries and the world economy as a whole. Accordingly, the megatrend of digitalization determines both opportunities and challenges for national economies with the most significant focus on the largest economies of the countries to which the German economy belongs. The aim of the article is to analyze the features of the complex of actions of the part of the Federal Republic of Germany to support digitalization in the traditional sectors of the economy. The article discusses the features of transformation under the influence of digitalization in the traditional sectors of the German economy, which leads to significant changes in the driving forces of the economic model of the Federal Republic. It is noted that the German economy faces a number of short-term challenges, including the long-term consequences of the COVID-19 pandemic and the Russian-Ukrainian war. In particular, under the influence of exogenous factors, the inflation rate in Germany increased to 7.9% in 2022 from 3.1% in 2021. These crisis challenges have put a certain strain on various sectors of the German economy, creating new challenges for economic development. It is noted that the Federal Government of Germany applies an integrated approach aimed at stimulating both economic development at the short-term stage and long-term growth, based on investments in renewable energy and digitalization. It is emphasized that this balanced approach within the framework of the public policy has contributed to reducing Germany’s dependence on existing exogenous challenges, also to the active emergence of Germany as a leader in the world economic transformation. The key directions of the public policy of digital transformation of Germany are allocated. In addition, the main challenges of digital transformation for the national economy of the Federal Republic of Germany are emphasized. The proposed research can be useful for specialized scientists and analysts, research centers, authorities of both the State and the local levels, and international organizations. The prospects of this study are seen in the analysis of cases of leading national economies on digital transformation and their adaptation in Germany.

Article is written in Ukrainian

BUSINESS INFORM №10-2023

Рopelo O. V., Zhavoronok A. V., Popelo O. P.
The World Experience of Stimulating Higher Education Institutions for Development on the Basis of the Principles of Sustainability (p. 45 - 53)
The article examines the foreign experience of development of higher education institutions according to the principles of sustainability. The main principles of stimulation of higher education institutions for development according to the concept of sustainable development are analyzed. The major barriers, trends and ways of further development of foreign universities in the implementation of the principles of sustainable development are allocated. The article proposes an organizational mechanism for stimulating the development of higher education institutions on the principles of sustainability with an outline of the principles that underlie their sustainable development; motivating factors; constraints; issues addressed by sustainable universities and measures to encourage universities to develop according to the principles of sustainability. The prospects and advantages of the development of higher education institutions according to the principles of sustainable development are outlined: the introduction of the principles of sustainable development in the educational process; development of a comprehensive sustainable development plan, which clearly states the goals and objectives of the university for sustainable development; promoting the use of renewable energy sources; concentration on various aspects of recycling that help reduce waste generation and save resources; introduction of green construction standards based on the principles of energy efficiency and sustainability, as well as the implementation of water conservation measures through the use of the best international experience. Among the main trends in the development of foreign higher education institutions according to the principles of sustainability are: integration of the conception of sustainability into the educational process of higher education institutions; leadership development; creation of sustainable development centers; the propagation of sustainable universities; intensification of cooperation between educational institutions. Attention is focused on that that foreign universities actively involve all participants in the educational process and other stakeholders in promoting the implementation of the principles of sustainability, thereby ensuring the continuity of sustainable development of the country and its regions.

Article is written in Ukrainian

Zhukovych I. A., Krasnonosova O. M.
Organization of Evaluation of Scientific Activity in China: Methodology and Experience (p. 53 - 63)
Building an effective system of organization of scientific activity, which is harmonized with the needs of society, is becoming an urgent task for Ukraine. A decisive role in this process is played by the procedure for evaluating the efficiency of activities of scientific institutions. The aim of the publication is generalizing the practical experience gained in the People’s Republic of China (PRC) and searching for opportunities to implement the organizational principles of the methodology for evaluating the results of scientific activity into the practice of the National Academy of Sciences of Ukraine. In recent decades, the PRC has made significant progress in the development of scientific and innovative activities. Scientific research in China is carried out by research institutes and research universities. The system of financing scientific activities in this country is built on the basis of the results of evaluation, obtained by creating a unique methodology in which scientometric instrumentarium is combined with expert evaluation. The peculiarity of the organization of scientific activity in the PRC is that that if there are more than 2.5 thousand higher education institutions in the country, most scientific research is carried out by a small number of scientific organizations, that include only about 100 universities. The reform of the organizational mechanism of the State management of scientific activities in China took place in several stages, each of which deserves to be studied on the subject of positive experience and possibilities of avoiding the undesirable mistakes. The practical experience of continuous reform of the organizational system of management of scientific activities in China deserves a detailed study and search for ways of possible implementation of the instrumentarium for evaluating the results of scientific activity in the practice of the National Academy of Sciences of Ukraine, taking into account the similarity of the structure of the scientific sphere. Both countries have similar research management structures, including relevant ministries and a network of national academies of sciences. This fact speaks in favor of using the existing practical experience of reforming the field of scientific research and preventing mistakes made by government officials during the implementation of a number of reforms in China (for example, the proven inexpediency of evaluating the results of the activities of scientific institutions, relying solely on quantitative indicators of scientific activity). Also noteworthy is the experience of mixed funding of scientific research, which combines the public sources with the competitive ones.

Article is written in Ukrainian

Shuba O. А., Han Rui
Positions of Chinese Car Manufacturers in the World Car Market (p. 63 - 70)
The global car market is one of the most competitive markets in the world, with characteristics including technological advancements, product diversity, competition, and innovation. The aim of the article is to study the experience and features of participation of car manufacturers of the People’s Republic of China (PRC) in the world car market. It is determined that the leading car manufacturers in the world market are China, the USA, Japan, India, and Germany. The leading exporters of cars, in terms of value, are Germany, Japan, the USA, South Korea, and Mexico, in terms of quantity – Japan, Germany, China, South Korea and the USA. It is specified that the contemporary automotive industry of the People’s Republic of China consists of a small number of large companies, most of which have a State-owned share, and thousands of small enterprises that produce auto components and spare parts for local companies. The competitive advantage of Chinese cars, which increases their exports, remains their cost. The results of the carried out trend analysis indicate that the growth of exports of cars produced in China will continue in the coming years. It is examined how the PRC government stimulated car manufacturers to achieve leadership in the production of electric vehicles. That is, electric bus lines were laid in several cities of the country and electric vehicles were purchased, all of them made in China. It was the introduction of electric public transport and taxi fleets that helped Chinese car manufacturers subsequently become leaders in the global electric transport market. In the field of production of environmentally friendly cars, the leader is BYD company, being the largest manufacturer of electric vehicles in the world. The following features of the participation of automobile companies of the People’s Republic of China in the world car market are specified: export of a wide range of cars (from the least expensive to premium), the quantitative output of which is larger than in any country in the world; the People’s Republic of China not only develops its own production, but also expands its presence in the global automotive industry, using acquisitions, joint ventures and strategic partnerships; China is one of the largest markets for potential car consumers in the world, from which global car manufacturers are being gradually squeezed out, who cannot compete with locally produced cars in terms of price and range; it is projected that the average annual growth rate in the automotive industry of the People’s Republic of China in the coming years will reach 4.0%. It is concluded that China’s car manufacturers are active participants in the global car market and leaders in the export of new cars, including electric vehicles, the quality and safety of which have significantly improved in recent years.

Article is written in Ukrainian

BUSINESS INFORM №11-2023

Kyshakevych B. Y., Demedyuk B. T., Bytsiv M. M.
The Methods of Regulatory Influence on Small and Medium-Sized Businesses in European Countries (p. 38 - 44)
The article shows the importance of regulatory policy in the context of support and development of small and medium-sized enterprises (SMEs) in Europe. The authors have demonstrated how different regulatory instruments affect SMEs in an international context, especially in the face of rapid global and technological change. It is emphasized that SMEs are key players in European economies that create a significant number of jobs and foster innovation. As regulatory policy has a direct impact on the stability and predictability of the business environment, its role in shaping the conditions for SMEs is crucial. The article emphasizes the importance of harmonization of norms in the European Union and its impact on the cross-border activities of SMEs. The specific features of the application of various instruments for regulatory impact assessment, including RIA (Regulatory Impact Assessment), the iREG (International Regulatory Evaluation Group) survey and the Regulatory Quality Index, are analyzed. It is shown that a significant advantage of the Regulatory Quality Index over other methods is the consideration of a wide range of aspects of regulatory policy and the ability to generate a numerical expression of the quality of regulatory policy, which makes it possible to compare countries and regions. Each of these instruments is considered in terms of its potential, advantages and limitations in the context of analyzing the impact of regulatory policy on SMEs. The need for a combination of different assessment methods to obtain a complete and balanced view of the quality of regulatory policy is emphasized, which represents a multifaceted approach to understanding and improving the regulatory environment that contributes to the development and competitiveness of SMEs in Europe. It is shown that the regulatory policy of the European Union and Ukraine in relation to small and medium-sized businesses has a number of differences, which can be explained by different institutional frameworks, level of economic development and historical factors.

Article is written in Ukrainian

BUSINESS INFORM №12-2023

Krasnonosova O. M., Cui Zengfeng, , Zhang Lei
Global Trends in Small Business Development (p. 51 - 58)
The article analyzes the global trends in the development of small business. The world distribution of enterprises according to the size by countries of the world is studied. An analysis of the development of small and medium-sized businesses by countries of the European Union has been carried out, which has made it possible to identify countries in which small business forms the basis of the formation of the gross domestic product of the State. Enterprises are analyzed in terms of size, indicators of value added, employment and the number of enterprises in the context of sectors of the economy. It is substantiated that the change in value added, employment of the population and the number of enterprises in the context of types of business allows to allocate promising directions for investment in the development of entrepreneurship. The trends of development of small business in different countries of the world have been studied, which has made it possible to allocate the regularities of its development and the relevant factors that contribute to stimulating the development of small enterprises. The directions of reconstruction and development of small businesses in countries after military conflicts have made it possible to identify features and commonalities in terms of the State regulation and support for such changes. On the basis of the carried-out study of the international development of small enterprises, similar directions in the State and regional policy of Ukraine regarding the support and stimulation of small enterprises during the wartime have been formed. Taking into account international experience, the main directions for promoting the development of small business in Ukraine in the post-war period are proposed, which will contribute to the overall socioeconomic growth of the regions and the State as a whole.

Article is written in Ukrainian

Matrunchyk D. M., Lakas V. V.
Regional Features of Foreign Experience of Investment Support of Innovative Transformations: The Specifics of Financing Research and Development Activities (p. 58 - 64)
The article substantiates the expediency of borrowing advanced foreign experience of investment support of innovation activity to accelerate the processes of innovative transformations in the regional economic complexes of Ukraine in order to ensure accelerated post-war recovery and formation of the sector of high-tech industries. The authors summarize the best foreign experience (the USA, Japan, Germany) in financing research and development (R&D) in the context of the main trends in the development of the global economy. It has been found that the models of investment provision of innovation activity in the United States, Japan and Germany differ both in terms of subject-object base and in terms of financing priorities regarding the development of the material and technical base and the formation of human resources for university science and the research industry of the corporate sector. It is determined that in the context of interweaving of national economies and formation of international network structures, the key actors in financing innovation activities are transnational corporations, which, due to the high level of concentration of investment potential, finance the most capital-intensive innovative projects, thus decisively affecting the modernization of the basic links of the economies of the advanced countries of the world and the pace and scale of development of the natural wealth of the world economy. It is substantiated that in the context of borrowing advanced foreign experience for the domestic practice of financing innovative developments at the regional level, it is worth adopting the experience of financial and investment support for innovation activities in the Federal lands of Germany. It is proved that the implementation of the experience of financing innovation activities in the German Federal lands, specializing in the development of the agricultural sector, processing and food production and woodworking, will allow the regions of Ukraine of agrarian specialization to form poles of economic growth and ensure the effective use of local labor, production, technical and natural resource potential. It is substantiated that in the context of the deficit of local public finances, the basis for stimulating innovative development at the regional level is the creation of cluster-type network structures, allowing to consolidate the efforts of local authorities, higher education institutions, research institutions, design organizations and financial and credit structures in the direction of producing innovative products and their implementation in the practice of production, economic and commercial activities.

Article is written in Ukrainian

BUSINESS INFORM №1-2024

Androsova T. V., Kulinich O. A.
Institutions of Innovative Development as a Factor of Competitive Advantages of the Country (p. 56 - 62)
The aim of the research is to generalize the foreign experience of gaining competitive advantages by the country through institutional influence on the innovative development of the economy and to study the possibility of its application in Ukraine. In the context of global challenges that make changes in the traditional world order of economic management, when competition for leadership and maintenance of innovative competitive advantages in the international arena is intensifying, there is a need to study the impact of institutions on the innovative development of the economy of the most powerful countries of the world along with the countries catching up in development, including Ukraine. The carried out research systematized scientific views; generalized them taking into account more contemporary thoughts; the data of the ratings of competitive advantages of countries and their dimensions are analyzed; the experience of institutional development of the leading countries and the principle of consistency in building an effective national scientific and innovation system are compared. It is verified that inclusive political institutions create obstacles to the usurpation of power and generate inclusive economic institutions that provide greater stability to the country’s economy. A general rating characterization of the economic development of countries that underlie innovation and acquisition of competitive advantages in the world market is carried out. The experience of foreign countries in transforming institutions into a competitive advantage that contributes to the innovative development of the State is studied. Obstacles to the innovative development of Ukraine have been identified. It is proved that increasing the international competitiveness of the country’s economy depends on the formation of institutions of innovative development as the basis of national policy and private business. The conditions for building an innovation-type economy as a modern national innovation system of Ukraine are presented and the prospects for their further research are defined.

Article is written in Ukrainian

Shuba O. А.
Experience of Neobanking in the Countries of the Asia-Pacific Region (p. 63 - 70)
The trend towards the development of neobanking has swept almost the entire world, changing traditional banking and shaping the offer of digital financial services. The Asia-Pacific region is characterized by the dynamic spread of neobanking, which is significantly facilitated by the demographic situation and the increase in the number of technology companies with a corresponding increase in the number of IT devices. The use of fintech services in the Asia-Pacific region is growing dynamically. The leaders in terms of growth rates are China, Hong Kong, Singapore, and South Korea. According to current forecasts, another 663 million people in the Asia-Pacific region will start using mobile Internet by 2025, which will contribute to the further development of neobanking. The number of neobanks in the Asia-Pacific region lags behind the countries of Europe and the United States, but their number is growing at a much faster pace. Despite the constant growth in the number of consumers of neobank services in the region, there are also constraints that hinder growth. These include: lack of trust in services of the new format, reluctance to change the provider of financial services, and lack of information about the capabilities of neobanks. Also, in some areas, there is virtually no stable access to the Internet, this becomes another obstacle to the activities of neobanks. The number of neobank users in the Asia-Pacific region is constantly growing – from 2.9 million people in 2017 to 22.8 million people in 2021. In each market of Southeast Asia, regulatory authorities have their own specifics of regulating the activities of neobanks, regulations vary significantly depending on the country. As a result, the range of services provided by neobanks in the countries of the region is different: from a full range of banking services to a narrow specialization in servicing small business owners. Further prospects for the development of neobanking in the countries of the Asia-Pacific region depend on the following main factors: State regulation of the banking sector; technical capabilities of neobanks to personalize financial services, process large amounts of data and conduct online transactions; competition or cooperation with traditional banks. There is already a tendency in the world for traditional banks and neobanks to search for mutually beneficial options for cooperation. For example, P2P lending and P2B lending, in which traditional banks are trying to participate, teaming up with neobanks. Neobanking is also supported by the issue that modern bank customers are less and less inclined to visit physical bank branches to conduct financial transactions. It is concluded that although there is a significant number of the population not covered by banking services, the development of neobanking in the Asia-Pacific region is proceeding at a rapid pace, which is facilitated by demographic indicators, high rates of economic growth, and cooperation with traditional banking institutions. Malaysia, Indonesia, the Philippines, Vietnam, India, and Thailand have the greatest potential for the development of neobanking.

Article is written in Ukrainian

Holian V. A., Korobka R. V., Bardas V. М.
Investment Support for Hydrocarbon Production in the United States: Main Trends, Energy Alternatives, and Environmental Determinants (p. 70 - 80)
It is substantiated that the United States are present as the main actor in the global energy market in terms of both forming the supply of energy carriers and ensuring the stability of its functioning. It is found that in recent decades, the production of hydrocarbons in the United States has been regulated by the federal government, based on conjunctural fluctuations in the world hydrocarbon market and the reformatting of the centers of gravity in global energy flows. It is found that in 2010–2022 in the United States, despite the growth of hydrocarbon production, there was a decrease in the volume of investment support for the development of the oil and gas industry. It is proved that the reduction of investment injections into oil and gas production in recent years is due to the diversification of the investment portfolio of «hydrocarbon» TNCs and the change in priorities in the development of hydrocarbon reserves. It is identified that the diversification of the investment portfolio of oil and gas companies occurs through the transfer of financial flows to the development of alternative energy and giving priority to the implementation of small, less risky megaprojects, rather than excessively risky megaprojects. It is substantiated that the United States has formed a diversified investment landscape in the field of natural gas and oil production, which includes large transnational corporations, independent oil and gas companies, financial institutions, and private investment companies. It is agreed that one of the main priorities of investment support for hydrocarbon extraction projects is the extraction of shale gas, based on its significant reserves and taking into account the emergence of new niches in the capacious market of Western Europe as a result of the imposition of sanctions against oil and gas suppliers from terrorist countries. It is verified that an effective form of investment support for shale gas extraction are public-private partnership (PPP) agreements, which provide investment in the development of the infrastructure of technological and innovation centers, which are focused on the development of advanced technologies related to the exploration, production and use of this component of hydrocarbon raw materials. This creates conditions for gaining competitive advantages in the volatile and sensitive global oil and gas market.

Article is written in Ukrainian

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