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Liburkina L. M.

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Theoretical Foundations of Investment Policy in Modern Conditions of State Development: The Green Vector
Turchenko A. V., Bozhenko V. V.

Turchenko, Anastasiia V., and Bozhenko, Viktoriia V. (2026) “Theoretical Foundations of Investment Policy in Modern Conditions of State Development: The Green Vector.” Business Inform 3:180–188.
https://doi.org/10.32983/2222-4459-2026-3-180-188

Section: Investment Processes

Article is written in English
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UDC 330.322:338.242:502.131.1

Abstract:
The article examines the theoretical foundations of the formation and transformation of the State’s investment policy in the modern development context, with an emphasis on strengthening the green vector. It is substantiated that global structural shifts caused by the digitalization of the economy, climate change, the growing role of sustainable development, human capital, and ecological innovations significantly change traditional approaches to investing and require a rethinking of the State’s role in regulating investment processes. Within the scope of the study, scientific approaches to interpreting the category of «investment policy» are systematized, in particular, the regulatory-legal, economic, institutional-organizational, strategic, and ecological approaches, which allowed revealing its complex and interdisciplinary nature. The methodological basis of the research was the systemic and institutional-economic approaches, as well as methods of comparative, structural-logical, and generalizing analysis, which provided a holistic view of the evolution of investment policy under conditions of a green transition. Based on theoretical generalization, it has been determined that investment policy is a multi-level system of strategic goals and mechanisms for their implementation, the efficiency of which depends on the consistency of institutional decisions, the stability of the regulatory environment, and the ability to adapt to global challenges. The article provides a comparative analysis of the directive investment policy model of the European Union and the market-oriented model of the United States of America, identifying their key instruments, advantages, and limitations in the context of promoting green investments. It is proved that the absence of a universal investment policy model necessitates the formation of adaptive hybrid approaches that take into account national institutional characteristics and global sustainable development trends. It is concluded that the green vector of investment policy acquires the status of a strategic factor for long-term economic stability, competitiveness, and environmental security of the State. The practical significance of the obtained results lies in their potential use in the formation and adjustment of State investment policy, the development of strategic green development documents, as well as in further scientific research on the issues of sustainable and institutionally oriented investment.

Keywords: sustainable development; investment policy models; innovations; green economy; strategic development.

Tabl.: 1. Bibl.: 22.

Turchenko Anastasiia V. – Postgraduate Student, Department of International Economic Relations, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: [email protected]
Bozhenko Viktoriia V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economic Cybernetics, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: [email protected]

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