The influence of main agriculture policy tools on the dynamics of crop prices has been investigated. In particular, the impact of the preferential VAT regime (and its abolition), sunflower export duty, preferential loans and the Memorandum of Understanding with grain exporters on the level of farm-gate prices and incomes of agricultural producers were determined. Recommendations regarding each policy tool were provided. In particular, the main effect of reforming the preferential VAT regime for agricultural producers, which provides the return of the tax on grain exports, is the growth of domestic prices for the value of "non-returned VAT", as well as increased specialization of production, which is harmful to the formation of sustainable agriculture. The author believes that the establishment of export duty on sunflower seeds contributed to the growth of oil-processing complex capacities, which resulted in high demand and excessively high prices for raw materials inside the country. In addition, given the absence of legislative regulation of crop rotation norms, an increase of planted areas under sunflower leads to the depletion of fertile soils and reduction of the national agricultural potential. The annual signing of the Memorandum of Understanding with grain exporters increases the opacity of the market because the document regulates export volumes for each marketing year. However, the Memorandum is a more progressive instrument for market regulation and, for example, export quotas; so market participants have time to adapt to changing market conditions. Also in the publication was analyzed the effect of programs to reduce the cost of loans for agricultural producers. In our opinion, the compensation of interest rates is an extremely important tool because cheap loans increase the liquidity of agricultural enterprises. Thus, farmers can sell their products throughout the marketing year, avoiding mass sales after harvesting, which leads to the drop of domestic prices.
{"title":"The influence of modern tools of agrifood policy on prices in Ukraine","authors":"P. Martyshev","doi":"10.15407/EIP2017.03.111","DOIUrl":"https://doi.org/10.15407/EIP2017.03.111","url":null,"abstract":"The influence of main agriculture policy tools on the dynamics of crop prices has been investigated. In particular, the impact of the preferential VAT regime (and its abolition), sunflower export duty, preferential loans and the Memorandum of Understanding with grain exporters on the level of farm-gate prices and incomes of agricultural producers were determined. Recommendations regarding each policy tool were provided. In particular, the main effect of reforming the preferential VAT regime for agricultural producers, which provides the return of the tax on grain exports, is the growth of domestic prices for the value of \"non-returned VAT\", as well as increased specialization of production, which is harmful to the formation of sustainable agriculture. The author believes that the establishment of export duty on sunflower seeds contributed to the growth of oil-processing complex capacities, which resulted in high demand and excessively high prices for raw materials inside the country. In addition, given the absence of legislative regulation of crop rotation norms, an increase of planted areas under sunflower leads to the depletion of fertile soils and reduction of the national agricultural potential. The annual signing of the Memorandum of Understanding with grain exporters increases the opacity of the market because the document regulates export volumes for each marketing year. However, the Memorandum is a more progressive instrument for market regulation and, for example, export quotas; so market participants have time to adapt to changing market conditions. Also in the publication was analyzed the effect of programs to reduce the cost of loans for agricultural producers. In our opinion, the compensation of interest rates is an extremely important tool because cheap loans increase the liquidity of agricultural enterprises. Thus, farmers can sell their products throughout the marketing year, avoiding mass sales after harvesting, which leads to the drop of domestic prices.","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115060893","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article presents an analysis of the interaction between Universities, industry, the state, and scientific institutions in Ukraine in context of the implementation of "triple helix" model of the innovation management. This model ensures the successful and efficient processes of the commercialization of scientific and technological achievements. International comparative analysis has been presented, which showed that Ukraine is significantly behind the world trends in the development of interaction between higher educational institutions, industry, the state, and scientific institutions in this context. It is shown that Ukrainian stakeholders of the linear innovation cycle have a low level of cooperation that determines the low final economic results and effectiveness of the national innovation ecosystem, despite some progress in the intermediate stages of the innovation cycle. The presented statistical analyses demonstrate that fundamental scientific potential of Ukrainian Universities has been very poorly transformed into innovative industrial designs and in relevant commercialized innovative products. This lack is also due to objective reasons in Ukrainian legislation, which does not consider the budget organizations, including universities and research institutions, as entrepreneurial entities entitled to receive income in the form of profit. The article proposes the managerial model "triple helix" as the measure to improve this situation. It is important to transform the existing linear model of innovation cycle in Ukraine for conversion to cooperative model, and the adoption of appropriate special legislation for this. The carried on analysis has shown that Ukraine has considerable financial potential for economic support of the "triple helix" model. Each institutional component of the innovation cycle, working separately, cannot effectively provide the final commercial result of innovation. This is due to the fact that each such institution lacks creative cooperation and the use of achievements received by another institution that works at another stage of the innovation cycle. Accordingly, the low final innovative performance of each staker of the innovation process limits the interest of investors in financing innovative processes. This applies to both private and public investors, including the Ministry of Finance. The "triple helix" model allows us to eliminate this shortcoming, and to successfully bring innovations to the final commercial stage of the innovation cycle, which will create a positive financial result that will in turn attract investors for all the institutional constituents. In framework of this managerial approach, it is necessary to significantly increase the role and motivation of Ukrainian Universities to influence all processes of innovation cycle, because these institutions naturally become the system-forming centers of the "triple helix" model. To accomplish this task, it is possible to use the already well-deve
{"title":"Implementation of the 'triple helix' model in innovation ecosystem of Ukraine","authors":"I. Bazhal","doi":"10.15407/EIP2017.03.124","DOIUrl":"https://doi.org/10.15407/EIP2017.03.124","url":null,"abstract":"The article presents an analysis of the interaction between Universities, industry, the state, and scientific institutions in Ukraine in context of the implementation of \"triple helix\" model of the innovation management. This model ensures the successful and efficient processes of the commercialization of scientific and technological achievements. International comparative analysis has been presented, which showed that Ukraine is significantly behind the world trends in the development of interaction between higher educational institutions, industry, the state, and scientific institutions in this context. It is shown that Ukrainian stakeholders of the linear innovation cycle have a low level of cooperation that determines the low final economic results and effectiveness of the national innovation ecosystem, despite some progress in the intermediate stages of the innovation cycle. The presented statistical analyses demonstrate that fundamental scientific potential of Ukrainian Universities has been very poorly transformed into innovative industrial designs and in relevant commercialized innovative products. This lack is also due to objective reasons in Ukrainian legislation, which does not consider the budget organizations, including universities and research institutions, as entrepreneurial entities entitled to receive income in the form of profit. The article proposes the managerial model \"triple helix\" as the measure to improve this situation. It is important to transform the existing linear model of innovation cycle in Ukraine for conversion to cooperative model, and the adoption of appropriate special legislation for this. The carried on analysis has shown that Ukraine has considerable financial potential for economic support of the \"triple helix\" model. Each institutional component of the innovation cycle, working separately, cannot effectively provide the final commercial result of innovation. This is due to the fact that each such institution lacks creative cooperation and the use of achievements received by another institution that works at another stage of the innovation cycle. Accordingly, the low final innovative performance of each staker of the innovation process limits the interest of investors in financing innovative processes. This applies to both private and public investors, including the Ministry of Finance. The \"triple helix\" model allows us to eliminate this shortcoming, and to successfully bring innovations to the final commercial stage of the innovation cycle, which will create a positive financial result that will in turn attract investors for all the institutional constituents. In framework of this managerial approach, it is necessary to significantly increase the role and motivation of Ukrainian Universities to influence all processes of innovation cycle, because these institutions naturally become the system-forming centers of the \"triple helix\" model. To accomplish this task, it is possible to use the already well-deve","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"198 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128663485","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Common Agricultural Policy of European Union (CAP EU) is the most modern model of agrarian policy, that provides equal competitive capacities for the development of each agriproducer and rural areas. Taking into account the European vector of Ukraine' development, this investigation aims to analyze the European support system in terms of the promotion of small argiproducers, which can help to offer some recommendations for the improvement of Ukrainian agrarian policy. Analysis of CAP EU indicates that measures of rural development pillar are more favorable for small farm development than market support programs. But the inclusion of small farms and, in particular, semi-subsistence farms into the rural development programs is lower than that of the larger commercial enterprises. And access limitation to the support program for small farms depends both on the direct factors (minimal access levels) and on the indirect ones (entrepreneur and personal skills, education level, information availability etc.). Practical experience of CEE countries confirms that participation of small farms in the non-oriented rural development programs is very low (less than 0.5 percent of total). In this case it is more efficient to use the target programs, like the Measure 141 "Semi-subsistence farm support", implemented specially for the CEE countries. Each CEE country adapted the European regulation with regard to their agriculture structure. This helped to identify a well-defined target group of the most viable beneficiary farms. The most successful case study among the investigated CEE countries is the Polish one due to the favorable institutional environment (including fiscal policy for small agriproducers) and the active work of the local advisory services. Specialists mention the insufficiency of a solely financial support for modernization of small farms. The development of these agriproducers requires a parallel solution of one more problem, namely the expansion of their outlets. We estimated the number of potential applicants in the case of implementing a similar program in Ukraine using different scenarios of access criteria. In determining the amount of support, one should consider not only the need to expand financing of current production costs, but primarily the need to raise capital investment in the farms' fixed assets. Since it has been established that the possibilities of increasing agrarian output and the level of commercialization of semi-subsistence farms in Ukraine are related to the development of livestock production, much attention should be paid to the expansion of the trade channels and, above all, their inclusion into the agri-food chains (short and long ones). In this case, it is necessary to use all the opportunities arising in the context of strengthening connection and communication between towns and villages, as well as increasing the mobility and accessibility of remote areas.
{"title":"The inclusion of small agriproducers in the state support system","authors":"S. Kyryziuk","doi":"10.15407/EIP2017.03.097","DOIUrl":"https://doi.org/10.15407/EIP2017.03.097","url":null,"abstract":"The Common Agricultural Policy of European Union (CAP EU) is the most modern model of agrarian policy, that provides equal competitive capacities for the development of each agriproducer and rural areas. Taking into account the European vector of Ukraine' development, this investigation aims to analyze the European support system in terms of the promotion of small argiproducers, which can help to offer some recommendations for the improvement of Ukrainian agrarian policy. Analysis of CAP EU indicates that measures of rural development pillar are more favorable for small farm development than market support programs. But the inclusion of small farms and, in particular, semi-subsistence farms into the rural development programs is lower than that of the larger commercial enterprises. And access limitation to the support program for small farms depends both on the direct factors (minimal access levels) and on the indirect ones (entrepreneur and personal skills, education level, information availability etc.). Practical experience of CEE countries confirms that participation of small farms in the non-oriented rural development programs is very low (less than 0.5 percent of total). In this case it is more efficient to use the target programs, like the Measure 141 \"Semi-subsistence farm support\", implemented specially for the CEE countries. Each CEE country adapted the European regulation with regard to their agriculture structure. This helped to identify a well-defined target group of the most viable beneficiary farms. The most successful case study among the investigated CEE countries is the Polish one due to the favorable institutional environment (including fiscal policy for small agriproducers) and the active work of the local advisory services. Specialists mention the insufficiency of a solely financial support for modernization of small farms. The development of these agriproducers requires a parallel solution of one more problem, namely the expansion of their outlets. We estimated the number of potential applicants in the case of implementing a similar program in Ukraine using different scenarios of access criteria. In determining the amount of support, one should consider not only the need to expand financing of current production costs, but primarily the need to raise capital investment in the farms' fixed assets. Since it has been established that the possibilities of increasing agrarian output and the level of commercialization of semi-subsistence farms in Ukraine are related to the development of livestock production, much attention should be paid to the expansion of the trade channels and, above all, their inclusion into the agri-food chains (short and long ones). In this case, it is necessary to use all the opportunities arising in the context of strengthening connection and communication between towns and villages, as well as increasing the mobility and accessibility of remote areas.","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130882001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Assimilation of regularities of the development of cooperative movement becomes particularly relevant in the conditions of the globalization of economic processes, and concentration of economic power in the hands of large capitalist companies, which compete with small and medium-sized commodity producers only due to their unification on cooperative principles. In the world of practice, there are about 750 thousand cooperative structures, whose members and users of the services are more than 800 million people. Most of them account for Asia (63%), the EU - 22%, and North and South America - 13%. Cooperatives occupy a significant part of the product markets of milk and finished dairy products, livestock and meat, grain, fruit and vegetable and other types of agricultural products. In China, 60% of all agricultural products are sold through cooperatives on domestic and foreign markets. A significant place is occupied by cooperatives in the markets of material, technical, financial resources, and technological, information and other services. Stability and longevity of cooperatives are due to their peculiarities: they provide the agricultural producers with cheaper, compared with commercial structures, services, which increases their competitiveness; the principles of the cooperatives' operation open to their members the same conditions for access to goods and services and the same benefits, which is one of the most important social aspects; the presence on the market of nonprofit cooperatives prevents the monopolistic rise in prices for goods by large capitalist trading companies, which broadens the access to consumer goods for low-income population and confirms the socio-humanistic nature of cooperatives. The multi-functional importance of cooperatives for small and medium-sized businesses is recognized by the international community. In Ukraine, such units produce from 65 to 95% of labor-intensive types of food, ensuring the formation of almost 2/3 of the nomenclature of the consumer food basket. However, the development of agricultural co-operation has not become an integral part in the reform program of the agrarian sector. There is no strategy for the development of cooperatives and their associations. Only over half of the registered more than a thousand cooperatives are really functioning. And even these figures are not quite accurate, since official statistics do not keep a record of service cooperatives and their activities. The constraining factors for the development of cooperatives are the imperfect cooperative legislation, which greatly complicates, and in many cases makes it impossible to form agricultural cooperative units; the lack of economic mechanisms for their support at the stage of formation and in the process of functioning, such as the transfer of realty facilities from state and communal property to cooperatives on the principles of preferential rent with further buy-out or free-of-charge, which is common practice in many co
{"title":"Economic and socio-humanitarian foundations of the development of cooperative forms of economic management in Ukraine","authors":"L. Moldavan","doi":"10.15407/EIP2017.03.085","DOIUrl":"https://doi.org/10.15407/EIP2017.03.085","url":null,"abstract":"Assimilation of regularities of the development of cooperative movement becomes particularly relevant in the conditions of the globalization of economic processes, and concentration of economic power in the hands of large capitalist companies, which compete with small and medium-sized commodity producers only due to their unification on cooperative principles. In the world of practice, there are about 750 thousand cooperative structures, whose members and users of the services are more than 800 million people. Most of them account for Asia (63%), the EU - 22%, and North and South America - 13%. Cooperatives occupy a significant part of the product markets of milk and finished dairy products, livestock and meat, grain, fruit and vegetable and other types of agricultural products. In China, 60% of all agricultural products are sold through cooperatives on domestic and foreign markets. A significant place is occupied by cooperatives in the markets of material, technical, financial resources, and technological, information and other services. Stability and longevity of cooperatives are due to their peculiarities: they provide the agricultural producers with cheaper, compared with commercial structures, services, which increases their competitiveness; the principles of the cooperatives' operation open to their members the same conditions for access to goods and services and the same benefits, which is one of the most important social aspects; the presence on the market of nonprofit cooperatives prevents the monopolistic rise in prices for goods by large capitalist trading companies, which broadens the access to consumer goods for low-income population and confirms the socio-humanistic nature of cooperatives. The multi-functional importance of cooperatives for small and medium-sized businesses is recognized by the international community. In Ukraine, such units produce from 65 to 95% of labor-intensive types of food, ensuring the formation of almost 2/3 of the nomenclature of the consumer food basket. However, the development of agricultural co-operation has not become an integral part in the reform program of the agrarian sector. There is no strategy for the development of cooperatives and their associations. Only over half of the registered more than a thousand cooperatives are really functioning. And even these figures are not quite accurate, since official statistics do not keep a record of service cooperatives and their activities. The constraining factors for the development of cooperatives are the imperfect cooperative legislation, which greatly complicates, and in many cases makes it impossible to form agricultural cooperative units; the lack of economic mechanisms for their support at the stage of formation and in the process of functioning, such as the transfer of realty facilities from state and communal property to cooperatives on the principles of preferential rent with further buy-out or free-of-charge, which is common practice in many co","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124891925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article examines the evolution of approaches for the construction of a multi-level pension provision model proposed by the leading international financial institutions and organizations. This model must meet the criteria of sufficiency, cost-effectiveness, sustainability, and reliability. It underlies of the concept of pension reform in Ukraine, which involves the implementation of measures of parametric and systemic character. Non-state pension provision, as an integral component of the pension system, is intended for the voluntary accumulation of savings for the additional pensions. The basic legislation on non-state pension provision came into force in Ukraine in 2004, but the amount of funds attracted by non-state pension funds remains insignificant at this time. Till 2008, an extensive growth of the non-state pension provision market was taking place: against the backdrop of a low base, the value of non-state pension funds assets actually doubled, the number of non-state pension funds, their contributors and participants increased dynamically. After the crisis of 2008-2009, annual growth rates of assets of non-state pension funds stabilized at the level of 25-30%, reaching, at the end of 2014, UAH 2 469.2 million, while the number of contributors and participants remained almost unchanged, and the number of non-state pension funds began to decrease, which is explained by the beginning of consolidation in this market. As a result of the crisis of 2014-2015, a decapitalization of non-state pension funds took place and their total assets at the beginning of 2016 decreased to UAH 1,980.0 million. The two main forms of decapitalization were net outflow of capital (exceeding the amount of pension payments above the amount of pension contributions) and loss-making activities (depreciation of securities, loss of deposits in banks and assets in the Crimea and in the east of the country). In 2016, despite the fact that the net outflow of capital continued, the process of growth of the non-state pension funds assets resumed. The two main categories of non-state pension fund contributors are individuals (households) and corporations (employers). Till 2015, in the total contributions, the share of the former was from 3 to 6%, and that of the latter from 94 to 97% (the phenomenon of growth of the share of individuals in 2016 in the total contributions to 16.4% requires additional study, but there is a high probability that such an increase occurred under the influence of employers, who prompted employees to co-finance corporate pension schemes). According to sociological surveys, only 10% of households in Ukraine saved part of their income, while giving preference to short-term investments, and about 40% of households indicated that they were forced to direct all income received to current needs. Statistics from other countries confirm the thesis of a direct relationship between household income and their inclination to save on an additional pension.
{"title":"Non-state pension prevision development in Ukraine","authors":"S. Zubyk","doi":"10.15407/EIP2017.03.031","DOIUrl":"https://doi.org/10.15407/EIP2017.03.031","url":null,"abstract":"The article examines the evolution of approaches for the construction of a multi-level pension provision model proposed by the leading international financial institutions and organizations. This model must meet the criteria of sufficiency, cost-effectiveness, sustainability, and reliability. It underlies of the concept of pension reform in Ukraine, which involves the implementation of measures of parametric and systemic character. Non-state pension provision, as an integral component of the pension system, is intended for the voluntary accumulation of savings for the additional pensions. The basic legislation on non-state pension provision came into force in Ukraine in 2004, but the amount of funds attracted by non-state pension funds remains insignificant at this time. Till 2008, an extensive growth of the non-state pension provision market was taking place: against the backdrop of a low base, the value of non-state pension funds assets actually doubled, the number of non-state pension funds, their contributors and participants increased dynamically. After the crisis of 2008-2009, annual growth rates of assets of non-state pension funds stabilized at the level of 25-30%, reaching, at the end of 2014, UAH 2 469.2 million, while the number of contributors and participants remained almost unchanged, and the number of non-state pension funds began to decrease, which is explained by the beginning of consolidation in this market. As a result of the crisis of 2014-2015, a decapitalization of non-state pension funds took place and their total assets at the beginning of 2016 decreased to UAH 1,980.0 million. The two main forms of decapitalization were net outflow of capital (exceeding the amount of pension payments above the amount of pension contributions) and loss-making activities (depreciation of securities, loss of deposits in banks and assets in the Crimea and in the east of the country). In 2016, despite the fact that the net outflow of capital continued, the process of growth of the non-state pension funds assets resumed. The two main categories of non-state pension fund contributors are individuals (households) and corporations (employers). Till 2015, in the total contributions, the share of the former was from 3 to 6%, and that of the latter from 94 to 97% (the phenomenon of growth of the share of individuals in 2016 in the total contributions to 16.4% requires additional study, but there is a high probability that such an increase occurred under the influence of employers, who prompted employees to co-finance corporate pension schemes). According to sociological surveys, only 10% of households in Ukraine saved part of their income, while giving preference to short-term investments, and about 40% of households indicated that they were forced to direct all income received to current needs. Statistics from other countries confirm the thesis of a direct relationship between household income and their inclination to save on an additional pension. ","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126148432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article conveys the current state and dynamics of Ukraine currency market. As banks are deemed key currency market players the authors have shown macro-trends in the banking system reflecting banks' currency market activity. The authors also outlined influential factors of the Ukrainian foreign currency market and applied to the "new normal" concept as the reference point after the fundamental change of market conditions for further monitoring of the market development.
{"title":"Currency market in Ukraine: problems and challenges","authors":"A. Shkliar, K. Anufriieva","doi":"10.15407/EIP2017.03.051","DOIUrl":"https://doi.org/10.15407/EIP2017.03.051","url":null,"abstract":"The article conveys the current state and dynamics of Ukraine currency market. As banks are deemed key currency market players the authors have shown macro-trends in the banking system reflecting banks' currency market activity. The authors also outlined influential factors of the Ukrainian foreign currency market and applied to the \"new normal\" concept as the reference point after the fundamental change of market conditions for further monitoring of the market development.","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127064273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article is devoted to the problem of formation and development of entrepreneurship in Ukraine. The author shows historical conditionality of modern features of entrepreneurial activity and reveals the causes and factors of the deformation of the institution of entrepreneurship. The importance of private enterprise for economic development is explored, and the roles of innovation and competition are underlined. The author uses the methods of evolutionary economic theory and institutional history, carries out a retrospective review of the origin, formation and development of entrepreneurship and reveals the importance of primary forms of entrepreneurship in the Middle Ages. The economy and trade were of a high level and progressive character on the Ukrainian lands. Institutional norms contributed to the development of private entrepreneurship. Kievan Rus was an economic leader of Europe. Further disintegration of the state had negative consequences. Political, social and religious barriers arose for the entrepreneurial activity of the Ukrainian population. In the article, the reverse character of institutional evolution is justified. The author reveals the role of the Ukrainian Cossack State and the policy of Bohdan Khmelnitsky in economic democratization and shows the dependence between the processes of formation of the national state and the formation of the national market. The myth of the primacy of state and landowner manufactories is refuted. In mid-17th century, manufactories developed on the basis of private crafts, being the private property and hired labor at the heart of entrepreneurship. Institutional scrapping occurred later, when the Russian empire planted state-owned manufactories and factories. The concentration of power and property in the hands of the landlords and the state hindered the development of capitalism. Reforms of the second half of the 19 - early 20th centuries strengthened the integration of the Ukrainian economy into the Russian market, though numerous features of the feudal system were preserved. The asymmetry of access to economic resources aggravated. The policy of "internal protectionism" contributed to the rapid development of new industries and monopolization of the economy. A merge between business and state took place. At the same time, the unevenness of economic development intensified social contradictions. Another institutional breakdown in the history of entrepreneurship in Ukraine occurred during the Soviet period. Mental and behavioral archetypes of economic activity were undermined, and the institutional foundations of private enterprise were destroyed. Privatization and liberalization of the economy during the years of Ukraine's Independence have failed to overcome the historical trajectory of the development of economic institutions. Competition and private enterprise are inferior to monopoly and bureaucracy. The formation of a new entrepreneurship paradigm requires inclusion and social responsib
{"title":"Development of entrepreneurship in Ukraine: historical determinants and prospects","authors":"V. Nebrat","doi":"10.15407/EIP2017.03.140","DOIUrl":"https://doi.org/10.15407/EIP2017.03.140","url":null,"abstract":"The article is devoted to the problem of formation and development of entrepreneurship in Ukraine. The author shows historical conditionality of modern features of entrepreneurial activity and reveals the causes and factors of the deformation of the institution of entrepreneurship. The importance of private enterprise for economic development is explored, and the roles of innovation and competition are underlined. The author uses the methods of evolutionary economic theory and institutional history, carries out a retrospective review of the origin, formation and development of entrepreneurship and reveals the importance of primary forms of entrepreneurship in the Middle Ages. The economy and trade were of a high level and progressive character on the Ukrainian lands. Institutional norms contributed to the development of private entrepreneurship. Kievan Rus was an economic leader of Europe. Further disintegration of the state had negative consequences. Political, social and religious barriers arose for the entrepreneurial activity of the Ukrainian population. In the article, the reverse character of institutional evolution is justified. The author reveals the role of the Ukrainian Cossack State and the policy of Bohdan Khmelnitsky in economic democratization and shows the dependence between the processes of formation of the national state and the formation of the national market. The myth of the primacy of state and landowner manufactories is refuted. In mid-17th century, manufactories developed on the basis of private crafts, being the private property and hired labor at the heart of entrepreneurship. Institutional scrapping occurred later, when the Russian empire planted state-owned manufactories and factories. The concentration of power and property in the hands of the landlords and the state hindered the development of capitalism. Reforms of the second half of the 19 - early 20th centuries strengthened the integration of the Ukrainian economy into the Russian market, though numerous features of the feudal system were preserved. The asymmetry of access to economic resources aggravated. The policy of \"internal protectionism\" contributed to the rapid development of new industries and monopolization of the economy. A merge between business and state took place. At the same time, the unevenness of economic development intensified social contradictions. Another institutional breakdown in the history of entrepreneurship in Ukraine occurred during the Soviet period. Mental and behavioral archetypes of economic activity were undermined, and the institutional foundations of private enterprise were destroyed. Privatization and liberalization of the economy during the years of Ukraine's Independence have failed to overcome the historical trajectory of the development of economic institutions. Competition and private enterprise are inferior to monopoly and bureaucracy. The formation of a new entrepreneurship paradigm requires inclusion and social responsib","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126692035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ukraine's electricity market can be considered as rigidly regulated by the state, low competitive and inefficient, and such that does not fulfill its main functions: regulatory, distribution, stimulating, informational ones etc. Its transformation in the context of European integration of the national economy requires the creation of an institutional environment that would enhance its openness, transparency and competitiveness at the expense of domestic and foreign sources and improved government regulation of economic relations on it. The purpose of the article is to assess the state of price competition in Ukraine's electricity market, the level of market power of the electricity producing companies and other market participants in terms of pricing and regulation of electricity prices. The methodological basis of the study is the institutional and behavioral approach to the definition and analysis of institutional conditions, in particular regarding the freedom, restrictions and government regulation of economic activities of the power generating companies on Ukraine's wholesale electricity market, assessment of the preconditions for the emergence and availability of market power in determination of electricity prices and implementation of price policy. The presence and abuse of market power of the electricity producing companies was assessed using a comparative analysis of their profitability. It has been determined that current conditions and rules of functioning of Ukraine's electricity market essentially determine the freedom of economic activities of power generating companies as regards pricing. In fact, the power generating companies are price-takers and have a limited impact on the terms of goods turnover on the market. Instead, the main players on the market with the highest market power are the government bodies, namely the energy regulator and the corresponding ministry. This situation can be characterized as an institutional monopoly. Assessment of the profitability of power generating companies in Ukraine according to Lerner coefficients and EBITDA margin indicates that they have no extra high yield (monopoly rent) compared to average industry indicators of Ukraine and groups of countries, which indicates their lack of market power or abuse of a dominant position on the market.
{"title":"Price policy and market power of electricity producing companies","authors":"B. Serebrennikov","doi":"10.15407/EIP2017.03.056","DOIUrl":"https://doi.org/10.15407/EIP2017.03.056","url":null,"abstract":"Ukraine's electricity market can be considered as rigidly regulated by the state, low competitive and inefficient, and such that does not fulfill its main functions: regulatory, distribution, stimulating, informational ones etc. Its transformation in the context of European integration of the national economy requires the creation of an institutional environment that would enhance its openness, transparency and competitiveness at the expense of domestic and foreign sources and improved government regulation of economic relations on it. The purpose of the article is to assess the state of price competition in Ukraine's electricity market, the level of market power of the electricity producing companies and other market participants in terms of pricing and regulation of electricity prices. The methodological basis of the study is the institutional and behavioral approach to the definition and analysis of institutional conditions, in particular regarding the freedom, restrictions and government regulation of economic activities of the power generating companies on Ukraine's wholesale electricity market, assessment of the preconditions for the emergence and availability of market power in determination of electricity prices and implementation of price policy. The presence and abuse of market power of the electricity producing companies was assessed using a comparative analysis of their profitability. It has been determined that current conditions and rules of functioning of Ukraine's electricity market essentially determine the freedom of economic activities of power generating companies as regards pricing. In fact, the power generating companies are price-takers and have a limited impact on the terms of goods turnover on the market. Instead, the main players on the market with the highest market power are the government bodies, namely the energy regulator and the corresponding ministry. This situation can be characterized as an institutional monopoly. Assessment of the profitability of power generating companies in Ukraine according to Lerner coefficients and EBITDA margin indicates that they have no extra high yield (monopoly rent) compared to average industry indicators of Ukraine and groups of countries, which indicates their lack of market power or abuse of a dominant position on the market.","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131190691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article considers the preconditions for the transformation of Ukraine's metallurgical industry into a global producer and exporter of metal products. It is shown that this process began in the early 90's of the 20th century, after inheritance, from the former USSR, of a powerful mining and metallurgical complex representing an integrate technological system from extraction and processing of iron ore to the production of finished rolled metal and pipes. An additional factor contributing to the development of the industry's foreign economic activities was its resource potential based on the presence of national highly skilled personnel, domestic raw material base and numerous production facilities able not only to fully satisfy the needs of the domestic market but also provide significant volumes of exports. The authors prove that, due to its export orientation, Ukrainian metallurgical industry of Ukraine has become a hostage to the foreign economic situation, which in adverse periods negatively affects its development. It is shown that this negative influence is manifested, first of all in the decrease of domestic output and exports of metal products, lower profitability of the metallurgical enterprises, and reduction of production personnel. In order to reduce the negative impact of the foreign trade situation on the development of domestic metallurgical industry, the authors have analyzed the experience of the largest steel producing countries. It is proved that the main outlets of these countries are their domestic markets. In particular, the share of domestic consumption of metal products in the five largest steel producing countries in their total metal output in 2015 ranged from 64.5% in Japan to almost 99.1% in Germany, while in Ukraine the share of domestic consumption of metal products in 2015 was only 16.6%. Based on the results of the research, the authors develop and propose guidelines for the reorientation of domestic metal producers to the priority satisfaction of domestic demand through intensive development of domestic metal consumption. In particular, they prove that increasing the domestic consumption of metal products can be achieved through the development and implementation of national programs in industry, especially in construction, engineering, transport, energy and housing and public utilities. Also, the research has proved that expansion of the domestic metal market is only possible with increase in the output of deeply processed metal products and creation of their new types, improved quality and competitiveness, reduced resource intensity of the sector, as well as with innovation based upgrade of machinery and technology for the production of metal products; and reduced environmental hazards. It is impossible to achieve these goals without a radical modernization of the metallurgical enterprises.
{"title":"Domestic market as a development factor for Ukraine's metal industry","authors":"V. Venger, V. Osypov","doi":"10.15407/EIP2017.03.069","DOIUrl":"https://doi.org/10.15407/EIP2017.03.069","url":null,"abstract":"The article considers the preconditions for the transformation of Ukraine's metallurgical industry into a global producer and exporter of metal products. It is shown that this process began in the early 90's of the 20th century, after inheritance, from the former USSR, of a powerful mining and metallurgical complex representing an integrate technological system from extraction and processing of iron ore to the production of finished rolled metal and pipes. An additional factor contributing to the development of the industry's foreign economic activities was its resource potential based on the presence of national highly skilled personnel, domestic raw material base and numerous production facilities able not only to fully satisfy the needs of the domestic market but also provide significant volumes of exports. The authors prove that, due to its export orientation, Ukrainian metallurgical industry of Ukraine has become a hostage to the foreign economic situation, which in adverse periods negatively affects its development. It is shown that this negative influence is manifested, first of all in the decrease of domestic output and exports of metal products, lower profitability of the metallurgical enterprises, and reduction of production personnel. In order to reduce the negative impact of the foreign trade situation on the development of domestic metallurgical industry, the authors have analyzed the experience of the largest steel producing countries. It is proved that the main outlets of these countries are their domestic markets. In particular, the share of domestic consumption of metal products in the five largest steel producing countries in their total metal output in 2015 ranged from 64.5% in Japan to almost 99.1% in Germany, while in Ukraine the share of domestic consumption of metal products in 2015 was only 16.6%. Based on the results of the research, the authors develop and propose guidelines for the reorientation of domestic metal producers to the priority satisfaction of domestic demand through intensive development of domestic metal consumption. In particular, they prove that increasing the domestic consumption of metal products can be achieved through the development and implementation of national programs in industry, especially in construction, engineering, transport, energy and housing and public utilities. Also, the research has proved that expansion of the domestic metal market is only possible with increase in the output of deeply processed metal products and creation of their new types, improved quality and competitiveness, reduced resource intensity of the sector, as well as with innovation based upgrade of machinery and technology for the production of metal products; and reduced environmental hazards. It is impossible to achieve these goals without a radical modernization of the metallurgical enterprises.","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115955487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The organic sector is growing steadily throughout the world. At the same time, in Ukraine this growth is constrained by improper legislative environment, lack of state financial support, low domestic effective demand and inadequate development of the relevant infrastructure. Ukrainian organic sector has inviting development prospects. First of all, this applies to crop production: sunflower seeds, soybeans and cereals, high protein crops, processed fruits and berries, walnuts, medicinal herbs, aromatic plants, and honey. Comparative evaluation of the Ukrainian and European regulatory and legal frameworks in the regulation of organic sector allows to conclude on a general convergence of the above documents. The most problematic issue remains the state support for the development of organic production. In this context, the primary task consists in practical implementation of the still only declared strategy of the priority development of organic production in Ukraine. For this purpose it is necessary: to form an appropriate regulatory and legal framework and effective certification system; to provide financial support of agro-producers during the conversion period; to stimulate relevant scientific and research developments and provide informational, advisory and educational services to the operators in organic sector, together with supporting the cooperative movement there; to develop the infrastructure of the organic market; and to organize collection and processing of the on organic operators in the context of the EU indicators.
{"title":"Organic agriculture in Ukraine","authors":"O. Shubravska","doi":"10.15407/EIP2017.02.116","DOIUrl":"https://doi.org/10.15407/EIP2017.02.116","url":null,"abstract":"The organic sector is growing steadily throughout the world. At the same time, in Ukraine this growth is constrained by improper legislative environment, lack of state financial support, low domestic effective demand and inadequate development of the relevant infrastructure. Ukrainian organic sector has inviting development prospects. First of all, this applies to crop production: sunflower seeds, soybeans and cereals, high protein crops, processed fruits and berries, walnuts, medicinal herbs, aromatic plants, and honey. Comparative evaluation of the Ukrainian and European regulatory and legal frameworks in the regulation of organic sector allows to conclude on a general convergence of the above documents. The most problematic issue remains the state support for the development of organic production. In this context, the primary task consists in practical implementation of the still only declared strategy of the priority development of organic production in Ukraine. For this purpose it is necessary: to form an appropriate regulatory and legal framework and effective certification system; to provide financial support of agro-producers during the conversion period; to stimulate relevant scientific and research developments and provide informational, advisory and educational services to the operators in organic sector, together with supporting the cooperative movement there; to develop the infrastructure of the organic market; and to organize collection and processing of the on organic operators in the context of the EU indicators.","PeriodicalId":212761,"journal":{"name":"Economy and Forecasting","volume":"2017 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129334816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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