Кафедра економічної теорії

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Active Ageing in Ukraine: in the View of Statistical Evaluation and Comparison Analysis
(2017) Kurylo, Iryna; Krimer, Borys
Material of the IV International Scientific Conference "Statistics of the XXI century: new challenges, new opportunities", 2017.
An algorithm of selecting the pricing model for a construction contract
(2019) Bugrov, Oleksandr; Bugrova, Olena
An algorithm has been developed for selecting a price model for a construction contract. This is important because price is one of the key parameters of a contract. It is this parameter that determines how much of the value created in the framework of the contract in a monetary form goes to the contractor and what remains to the client. The study has found that the contract drivers of pricing are the initial price, control, incentives (moral hazard), and the final price. This interpretation coincides with the fundamentals of contract theory and is a prerequisite for the fundamental credibility of the developed system. The basic input components of the decision-making algorithm on the most appropriate pricing strategy are the matrix of properties of contract price models and a metric of questions for evaluating the client’s respective priorities for the project. The system helps choose one of five key pricing strategies: CRC, MC, TC, LS or GMP, which are used in international practice. Applying the system of choosing the pricing model of a contract in conjunction with the system of selecting the organizational profile of the project provides an opportunity to choose the most appropriate strategy from 130 paired alternatives. The proposed approach in a cumulative way contributes to the success of construction projects and has a unified character. The formalized toolkit for benchmarking alternatives is the digital content of the strategic COMP – Contract Organizational Mechanisms: Pricing. The algorithm is built on estimating the priority vectors of pricing factors for a project (based on certain sets of ranks and ratings) with a further grading of the feasibility of using each of the alternative price models in the project. Approbation of the COMP system in the construction project of the Ice Arena in Kyiv has shown that the created conceptual model (the proposed algorithm) makes it possible to take an expedient decision on the pricing strategy for a contract with mathematical, high theoretical and practical argumentation.
Balanced system of indicators as a tool of the formation of the creative potential of companies
(2021) Ivanova, Nataliia; Klymenko, A.; Kucherenko, D.; Kuznetsova, Tetyana; Salimon, O.
The modern driver of the country’s economic development is the creative economy, which is considered by many scientists as a new model of the growth. Ukraine has not stayed away from the process of forming a creative economy. According to the rating of the Global Creativity of the Martin Prosperity Institute, Ukraine ranked 45th among 139 countries. Analysis of the content of the Global Index suggests that it is the high rating of the Talent Index (24 positions) that caused a fairly high Global Index. The reinforcing components of the High Talent Index are the number of the highly educated people and the share of creative workers. The Technology Index is quite high (43 positions). As for the Tolerance Index, Ukraine ranked 105th. The considered components of the indices allowed us to draw a conclusion about the existing unrealized and powerful reserves of Ukraine’s creativity. An important component of the formation of the creative economy of Ukraine is the creative industries. However, research has shown that the sources of creative potential are in non-creative industries. The basis of such sources is a human capital. It is important to find tools that will increase the creative potential of any business structure, regardless of its industry affiliation. However, research has shown that this problem has gone unnoticed by scientists. The article proves that such a tool is a balanced scorecard. The aim of the article is to analyze a balanced system of indicators in terms of their compliance with the requirements of the creative economy and to find sources for adapting this system to new requirements. The system is not only evaluative, but also serves as a means of the strategic management, as it allows you to direct the development strategy of the organization in the plane of specific strategic objectives and indicators. The advantages of the system are the ability to identify performance indicators to determine the main direction of the organization, and for individual units; use of feedback; bringing specific goals to each specific performer; motivation of employees of the enterprise depending on the results of the task; universality of application of the system. Analysis of the essence of a balanced scorecard allowed to identify sources of creativity for each of the four components of the system (financial, customer evaluation, business process efficiency, staff). The search for sources of system adaptation was carried out for BAKER TILLY Ukraine LLC. The company uses a balanced scorecard, which has its four main components and does not belong to the creative industries. As a result of the analysis of the company’s activity, the sources of increasing the creative potential were identified and the methods of their implementation were proposed.
The Banking system of the UK: analysis and modelling
(2022) Korol, Maryna; Bazhenova, Olena; Korol, Ihor; Bazhenov, Volodymyr; Yarmolenko, Julia; Vasylets, Nelya
The paper deals with the analysis of the banking system of the UK. The UK banking sector is quite diverse, and at the same time oligopolistic. The UK exit from the EU is already having a negative impact on main banking indicators. Uncertainty in the banking sector and among the business community is, definitely, very high. This means that banks will have to work on potential and alternative outcomes, depending on their development. The impact of Brexit on banks and banking in the UK will be determined by both government-level arrangements and the response of individual firms to operating conditions changes. At the same time, the realities of the banking environment after the crisis of 2008—2009 mean that it is necessary not only to strengthen market discipline, but also to avoid excessive proliferation and diversification of commercial banks and concentration of the banking system. The post-crisis environment is characterized by a decrease in the number of commercial banks in the UK. However, the reduction in the number of banks does not prevent an increase in the value of the banking system’s assets and an improvement in their quality. Moreover, the paper explores the crisis of 2008—2009 impact on the functioning of the UK banking system (loans to monetary financial institutions, loans to non-monetary financial institutions, loans to non-monetary financial institutions, loans to the central government, deposits of monetary financial institutions, deposits of non-monetary financial institutions, central government deposits). For this purpose, the system of six vector models of autoregression has been constructed. The results of the simulations have shown that all variables have similar dynamics after the crisis shock, except for central government deposits. In the future, the leveling of the shock is observed for these variables starting from the fourth year. There is only an increase in central government deposits, starting from the second year after the shock The other variables do not respond to the crisis shock.
The basic principles of innovative development of priority sectors of the processing industry of Ukraine
(2019) Boiko, Olena
The economic development of the industrial sector in Ukraine today creates a new perspective on innovative development. Therefore, in the article special attention is given to the monitoring of industrial activity, which is carried out on the example of industries of the processing industry. For this purpose, the functioning of the industries of the Ukrainian processing industry in 2017 was analyzed. Not only the main trends of development, but also existing problems and further perspectives were determined. In the article the author attempts to determine the basic principles of innovative development of the Ukrainian processing industry in such areas as light and chemical industry with the purpose of priority development of production capacities of enterprises of different types of ownership. In particular, it is such an enterprise of light industry as "Olteks", as well as enterprises of the chemical industry "Chinbar" and "Borshchagovsky chemical and pharmaceutical factory". The work of monitoring the activities of the industrial enterprises of the processing industry, located in the city of Kiev. The strengths and weaknesses of their activities, as well as opportunities and threats have been identified. Measures have been developed to implement the Concept of building up export potential of industrial enterprises in Kyiv, including the EU countries. The author's attention is focused on the functioning of special forms of organization of innovation activity, which can contribute to the development of industries in the processing industry in Ukraine. In particular, it concerns the development of techno-polises and industrial parks. Their main tendencies of development, problems and their ways of further functioning are offered. This is especially true of the legal and regulatory framework. Proposals for the improvement of legislative and other legal acts on the issues of technopolis activity and industrial parks on the territory of Ukraine are developed.
Bazhal, Iurii. The Political Economy of Innovation Development: Breaking the Vicious Cycle of Economic Theory: [book review, preprint]
(2018-03)
Explores the category of Schumpeterian innovations as an isolated factor of economic development, which creates a new added value and may become like a “stem cell” of new mainstream theory of economic development, assessing the gap between neoclassical theory and innovation activities. Discusses innovations—a known unknown phenomenon of economy; key features of Joseph Schumpeter’s theory of economic development; the “vicious cycle” of a political economy without innovations; innovation development versus reindustrialization; evaluating innovation’s impact on economy; and human capital and innovation development. Bazhal is Head of the Economics Department at the National University of Kyiv–Mohyla Academy.
Characteristics of external labour migration from independent Ukraine
(2020) Kurbet, Oleksandra
In this conference paper, we analysed the general characteristics of external labour migration from independent Ukraine. The massive character of the fourth migration wave is partly explained as a realisation of migration potential, which had been formed in the Soviet era. We defined motives, sources and vectors of migration, the educational level of labour migrants, the volume of remittances and their role in the economy.
Comparative analysis of labour markets in Ukraine, Armenia, Moldova, and Estonia: Institutional approach, 1995-2020
(2023) Zhurauliou, Aliaksei; Palomino, Jordan; Gulevych, Olena; Vasa, László
The study investigates the labour market and economic transformation in Armenia, Estonia, Moldova, and Ukraine. After the 30th anniversary since gaining independence. all 15 former Soviet states demonstrated different speeds and results of economic transition. While Estonia is known as the most successful post-Soviet state, Ukraine and Moldova are still transforming their economies towards joining the EU, and Armenia is part of the pro-Russian economic bloc. This study aims to compare labour markets through the prism of institutional transformations. The econometric modelling revealed the relationship between institutional aspects of the labour market and further economic development. The labour market of the post-Soviet countries in general, and those of Ukraine, Armenia, Moldova, and Estonia in particular, do not constitute a significant part of the global labour market. However, their important regional features allow us to assess the level of institutional transformations of the economies of these countries. The tools and methodological approaches used in this study can be used for further research in the field of labour and institutional economics to understand the transformational processes of different speeds that are taking place in the post-Soviet space. The choice of countries for research is due to their inclusion in the economic complex of the former USSR, being in Europe, the polarity of the integration course, similar demographic trends, and since the authors of this study had the opportunity to visit these countries in 2020–2021. The random-effect regression model results indicated that the life expectancy at birth has a statistically significant impact on GDP, unlike traditional labour market indicators such as years of schooling, unemployment, and female participation in labour force.
Control process development on the ground of project value dynamics laws
(2020) Bugrov, Oleksandr; Bugrova, Olena
Об’єктом дослідження є концептуальний підхід до процесу контролю динаміки фінансово-економічної цінності будівельного проекту, досягнутої завдяки проведеному інжинірингу. Прискорення науково-техніч ного прогресу підкреслює перспективність цієї теми. Встановлено, що теорія динаміки цінності проекту ґрунтується на трьох законах. Перший закон динаміки цінності проекту наголошує, що якісне, динамічне зростання цінності відбувається лише завдяки інноваціям (раціоналізації, креативу), а решта проектних змін має статичний характер. Графіки ізо-цінності демонструють потенційні стани фінансово-економічної цінності проекту у чотирьохвимірному просторі «час-вигоди-витрати-ризики». Кожна наступна лінія ізо-цінності, яка проходить далі від початку координат, відображає більш високий рівень інтенсивної цінності проекту. Другий закон динаміки цінності вказує, що ентропія внаслідок виконання проекту поступово знижується. Таким чином, чим раніше відбуваються інжинірингові сесії (в межах життєвого циклу проекту) для запровадження інновацій, тим вищим є потенціал впливу на динаміку цінності проекту. Третій закон динаміки цінності проекту передбачає, що абсолютний максимум цінності не може бути досягнутий. Отже, інновації, на відміну від інших факторів фінансово-економічного зростання, є невичерп ним джерелом підвищення цінності проектів. Єдиним фінансово-економічним показником, який адекватно відображає динаміку цінності проекту, є коефіцієнт "вигоди-витрати" ("benefit-cost" ratio – BCR). Цей показник чітко враховує всі чотири фактори (виміри) ефективності проекту та фіксує саме динамічні, якісні зміни цінності. BCR дуже схожий на визначення цінності, яке застосовується у функціо нально-вартісному та ієрархічному аналізі. Це сприяє взаєморозумінню та конвергенції у комунікаціях між зацікавленими сторонами проекту (в комплексній моделі "Кристалу" управління цінністю). Процес контролю динаміки цінності проекту спрямовує роботу команди з інжинірингу цінності на досягнення таких фінансово-економічних результатів по інвестиційно-будівельному проекту, які найкращим чином відповідають інтересам інвесторів за умови бережливого ставлення до природи та піклування про наступні покоління.
Corporate Social Responsibility as a Basis for Innovative Entrepreneurship Development
(2023) Berdar, Marharyta; Minochkina, Olha; Kot, Liudmyla; Yevtushevska, Olha; Sapachuk, Yurii
The purpose of this study is a theoretical and empirical analysis of the phenomenon of social responsibility as the basis for innovative development of entrepreneurship and an important tool for simultaneously meeting the needs of business and society. In this study, a qualitative method is utilized. The study examines the concept, models, and tools of Corporate Social Responsibility (CSR), defines co-dependency of business and society as a necessary condition for sustainable development, analyses the application of CSR practices in business activities, substantiates the fact that social responsibility is a factor of increasing competitiveness, productivity and added value of goods and services, and the introduction of innovation. This paper contributes to a better understanding of the co-dependency of business and society and a link between CSR practices and innovative development, emphasizing the importance of open innovation in sustainable development. Future research directions include investigating CSR as a mechanism for the innovative development of entrepreneurship, analyzing case studies from Ukrainian and global perspectives, and examining the interdisciplinary discourse on social responsibility. However, the research is primarily based on the Ukrainian context, potentially limiting its applicability to other settings.
Creative staff as a factor of the enterprise's success
(2022) Ivanova, Nataliia; Kucherenko, D.; Kuznetsova, Tetyana; Rasulova, A.; Salimon, O.
Changes in the economic, technological, social and demographic situation in recent years have caused a number of new phenomena at all levels of economic activity. These include increasing the availability of information and the speed of exchange; changes in the structure and nature of consumption of goods and services; increasing the rate of change in the economy and its discrete nature; increasing competition. At present, it is not enough for companies to provide quality products and services in order to be successful in their field, as the number of similar products and services on the market is growing every year. Therefore, the creation of unique products and making effective extraordinary creative decisions come to the fore. Analysis of the experience of the most successful companies revealed key factors in their success. This promotes the development of the creative abilities of staff; creating a highly productive work environment; involvement of the most talented and creative managers; providing processes, methods and funding to support creative initiatives. In other words, we are talking about the formation and development of creative staff. To confirm the impact of staff creativity on entrepreneurship, the authors analyzed global indices of creativity and entrepreneurship. The analysis allowed us to conclude that there is a significant link between creativity and entrepreneurship. Thus, it can be argued that creativity is an important component of successful entrepreneurship. This means that the more creative the company and its potential, ie the more the team is able to think creatively and create creative ideas, the more innovative products and services the team can provide, and the greater the success of the company. Research shows that Ukrainian companies employ people who have great intellectual potential, and who are able to generate creative ideas and turn them into innovations. However, there is a number of reasons why employees cannot realize this potential and convert creative ideas into innovation. These reasons include both objective and subjective. Objective reasons are the lack of funds and the weak mechanism for implementing new ideas in the activities of enterprises, low employment, the outflow of the most qualified personnel abroad. Subjective reasons include the following: the adherence of managers to management methods that were formed in a team economy; weak motivation of work behavior; fear of changing the usual way of working; unwillingness to make efforts for additional training. Thus, the issue of forming and stimulating the development of creative thinking of the staff of domestic enterprises and organizations is extremely important.
DCFTA: a starting gear for structural changes in Ukraine's trade relations with the EU
(2017) Zhalilo, Yaroslav
Section 2.1 of the book "Integration without Membership : Potential and limits of Ukraine's Association with the EU".
Developing competition in the Ukrainian mobile communications market
(2021) Umantsiv, Yurii; Nikolaiets, Kateryna; Lebedeva, Larysa; Kononenko, Evheniia
Based on the study of the mobile market of Ukraine, the main elements of its structure and the degree of intensity of competition between the main actors have been determined. The necessity to take into account several factors that influence coordination capacity of the market and the conditions of collective dominance of the largest subjects of mobile services market have been outlined. The market concentration indicators and their characteristic tendencies have been analyzed, as well as the conditions and nature of the growth of the mobile market in Ukraine at the present stage. The study of the competitive environment has led to the conclusion about the oligopolistic structure of the Ukrainian mobile communications market with prominent leaders such as PJSC "Kyivstar", PJSC "VF Ukraine", LLC "Lifecell". The study results allow to characterize the Ukrainian mobile communications market as favorable for collusion between the largest operators.
Development of conceptual model of project value dynamics analysis in conditions of uncertainty
(2021) Bugrov, Oleksandr; Bugrova, Olena
A conceptual model for analyzing the dynamics of the value of the project, achieved as a result of engineer-ing, under conditions of uncertainty has been developed. In the methodological context, the proposed approach is based on an array of isovalues, each of which corre-sponds to its own level of optimism in forecasting the cash flow for the project. With the increase in the effi-ciency of the project due to engineering, the entire array of iso-value lines’ changes its geometrical position, mov-ing further from the origin (in the four-dimensional space "time-benefit-cost-risk"). The proposed model includes three stages. At the first stage, input information is col-lected and the corresponding analysis is initiated. The result of the second stage is a multivariate cash flow forecast and calculation of the benefit-cost ratio (BCR) and its changes for each scenario. The third stage pro-vides the calculation of the expected BCR and its change, an assessment of the risk of making an erroneous deci-sion and changing this risk as a result of the engineer-ing session. The model makes it possible to calculate the achieved proportion of the static and dynamic vectors of change in the value of the project. In the example con-sidered, the share of the dynamic vector of growth in the value of the project was found to be 35.47 %. The model has an environmental property - the assessment of the success of value engineering under conditions of uncer-tainty is carried out on the basis of the annual total ben-efits and the annual total costs throughout the project cycle. Thus, the analysis takes into account the impact of the project on the environment, which is reflected in the risk assessment. The given case testifies to the feasibility of applying the model in the practice of engineering the value of construction projects.
The development of innovative forms of enterprise in Ukraine in terms of globalization in 21 century
(2017) Suprun, Nataliia; Yelisieieva, L.
Urgency of the research. The importance of studying the innovative enterprise is determined by the need to optimization of development proportions and overcome the manifestations of the systemic crisis in national economy. Target setting. It is reasonable to study development of innovative business of Ukraine as reaction to globalization of the spread of the network economy and smart technologies etc. Actual scientific researches and issues analysis. The scientific works of such scholars as P. Diamandis, S. Case, C. Clayton, Y. Bazhal and others deal with the innovative enterprise. Uninvestigated parts of general matters defining. The scientists have not yet sufficiently studied the reasons for the introduction and features of the innovative enterprise development in Ukraine after 2014. The research objective. The article aims to investigate the causes of introduction, dynamics, obstacles and perspectives of domestic innovative business development in the context of globalization of the XXI century. The statement of basic materials. It was proved that the exponential development of Internet technologies, network economy caused the economic establishment of communal consumption and uprise of sharing companies being new types of enterprise structures. It was found that the main organizational enterprise forms in the field of economics of common use are ridesharing, crowd-funding, coworking and others. The author has studied the specificity and consequences of national sharing enterprise. Conclusions. It is defined that involvement to common production such previously non-used resources (such as: solidarism, social unity, responsibility, cooperation); creating of positive competitive conditions for businesses; cultural and behavioral changes of consumers become the basis for conscious and ecological consumption, producing new standards for businesses and becoming an integral part of social culture.
Development of the conceptual model of implementation of the state strategy of communication with realization of European integration approaches
(2022) Ovechkina, Olena; Mykhailyshyn, Lilya; Shevchenko, Olena; Shevchuk, Vladyslava; Korovchuk, Yurii; Kohut-Ferens, Oksana
The article examines the aspects of the conceptual model of state communication strategy (SCS), which implements the approaches of European integration. Tasks to be solved by SCS are established. They include, in particular, a decrease in the lack of information in society, the lack of communication between communities and each citizen, ignorance of the direction of current political processes, and a decrease in the level of social tension. The main goal of the conceptual model of this strategy was formulated. This is the unity of society on the way to overcoming threats, reducing society's level of public anxiety, fear of taking responsibility for actions, for the protection of the country and public good, and to use all the mechanisms and tools provided by European integration. The importance of the formation of reliable feedback and the introduction of a self-regulatory process is indicated. Defects in the communication process have been identified, and SCS must be directed to correct them. A structural diagram of a conceptual model of the implementation of SCS with the realization of EU a pproaches was developed using a system approach. The developed scheme should become a methodical basis for the construction of SCS, which implements the approaches and basic principles of European integration under the conditions of discrediting the work of the aggressor. It is indicated that the conceptual model should take into account the need for external communication. For this purpose, it is necessary to improve the contractual basis between Ukraine and the EU in the sphere of security policy. The main paradigm of external communication which consists of the need to form a synergy of all public strata in the formation of information influence on the outside world for the implementation of cooperation policy and reduction of common threats has been revealed. The creation of a synergistic effect should be the result of SCS implementation.
Digital technologies and their impact on economic and social spheres in Ukraine
(2022) Silakova, Hanna; Solomka, Olga; Bila, Iryna; Koliadych, Oleksandr; Sanduhei, Valentyna
Purpose. To determine the specifics of the impact of IT use on the economic and social spheres in Ukraine. To develop a mathematical model for evaluating and forecasting the impact of IT on these areas.
Does Economy Affect Political Choice? Evidence from Ukraine
(2022) Slukhai, Sergii; Slukhai, Nataliia; Bazhenova, Olena
In this paper economic performance as a determinant of political choice in a transition nation has been analyzed. The bulk of public choice and politic study literature published in the recent decades (see e.g. Bustrikova & Zechmeister, 2017; Jastramskis, Kuokštis and Baltrukevičius 2019; Lewis-Beck & Stegmaier 2019; Talving 2018; Valdini & Lewis-Beck 2018) delivers results that support the economic vote hypothesis not only in developed countries, but also in certain transition nations. Thus, the authors set out to ascertain whether this hypothesis holds in the conditions of Ukraine. The paper is based on an analysis of panel data collected in Ukraine since independence. The authors try to find out whether economic performance really has an influence on the outcome of political choice in such in a specific nation in transit as Ukraine. Due to relevance criteria only three out of seven presidential elections in Ukraine have been analyzed with respective association to economic data of the pre-election period. It is proven through a panel model that, unlike in countries with developed democracies, in Ukraine the retrospective economic vote in presidential elections was not observed; it turned out to be prospective instead with regard to the latest presidential election in 2019. The authors presented a set of possible reasons to explain this phenomenon: lack of democratic experience, relying on heuristics and emotions, low public mood among others. Some of them have been flagged by us before on a theoretical level (Slukhai 2021). It has been demonstrated that Ukrainians‘ political choice in 2019 has consequences for the economy, which may contribute to the loss of a nation‘s development guidelines for a certain period of time, as well as subsequent social disappointment. The results achieved could be applied to the prospective development of the economic and political situation in Ukraine; it may give clues on how the country could develop after the ongoing Russian-Ukrainian war is over.
Economic Performance and Political Choice in Ukraine
(2022) Slukhai, Sergii; Slukhai, Nataliia; Bazhenova, Olena
In this article the economic performance as a factor that determined the political choice of Ukrainians has been analyzed. It is proven by a panel model that, unlike the countries with developed democracies, a retrospective economic vote in presidential elections was not observed in Ukraine; it turned out to be prospective instead with regard to the last (year 2019) presidential election. The authors presented a set of reasons which could explain such situation: lack of democratic experience, relying on heuristics and emotions, low public mood among the others. It has been demonstrated that Ukrainians’ political choice in 2019 has some consequences for the economy, which may contribute to the loss of a nation’s development guidelines for a certain period of time and subsequent social disappointment.
Economic Theory: Its Nature and Economizing Problem
(2007) Orel, Evgeniy
Presentation.

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