KV #19905-9705 PR dated 02.04.2013.







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Foreign Experience


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 Ukrainan


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 Ukrainan


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 Ukrainan


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 Ukrainan


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 Ukrainan

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


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 Ukrainan

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 Ukrainan

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 Ukrainan


Yaroshenko I. V., Semigulina 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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan


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 Ukrainan

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


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 Ukrainan

Heiman O. A., Kozyrieva O. V., Krasnonosova Y. N.
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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan


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 Ukrainan


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


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 Ukrainan

Semigulina 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 Ukrainan

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 Ukrainan

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 Ukrainan


Yaroshenko I. V., Semigulina 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 Ukrainan

Izmaylov 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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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


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 Ukrainan

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 Ukrainan


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


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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan

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


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 Ukrainan

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


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 Ukrainan

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 Ukrainan

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


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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan

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


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 Ukrainan

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 Ukrainan

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


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan


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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan

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 Ukrainan

Нaponenko A. 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 Ukrainan


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 Ukrainan

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 Ukrainan

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 Ukrainan


Melnyk O. G., 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 Ukrainan

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 Ukrainan

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 Ukrainan


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


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 Ukrainan


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 Ukrainan

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 Ukrainan

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 Ukrainan

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


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 Ukrainan

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


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., Gamiye 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 Ukrainan


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

Izmaylov 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 Ukrainan


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 Ukrainan

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 Ukrainan

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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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


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 Ukrainan

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 Ukrainan


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 Ukrainan


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 Ukrainan

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 Ukrainan


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 Ukrainan

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 Ukrainan


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