The Problems of Economy

23-31

Authors: Kornіvska V. O.

The purpose of the article is to disclose the influence of institutional factors on the formation of the effects of the introduction of a central bank digital currency and to substantiate the prerequisites for the possible introduction of a central bank digital currency (CBDC) in the Ukrainian system of financial and institutional coordinates. The carried out study concludes that the global regulatory community has no final certainty about the very fact of creating such a revolutionary payment mechanism. At the same time, approaches to the design, goals, and possible results of putting the CBDC into circulation are focused on functional areas of analysis, while the issue of the influence of the institutional environment on the formation of the effects of the digital transformation of the monetary space requires a more thorough research. The search for answers to the question of how to use the CBDC to form a controlled, inclusive, transparent, and efficient financial and institutional space should include, as an essential constituent, an analysis of trust in the actions of the government and the central bank at each stage of the CBDC development. The poor and complex experience of introducing the CBDC demonstrates that in the absence of a sufficient level of trust, the financial, economic, and social situation becomes destabilized. The experience of introducing digital currency in an unstable economic environment shows that a central bank’s digital currency can be introduced only if there is a high level of trust in the national currency, the monetary policy pursued by the central bank, and a low level of inflation; the conversion of the national currency into digital form should be preceded by an effective monetary policy aimed at increasing the reliability of the national currency. The author concludes that, given the revolutionary nature of the reform, the introduction of digital currency cannot be used as an element of stabilization measures and cannot be considered a monetary experiment; its prospects should be conditioned by general economic and monetary stabilization

42-48

Authors: Zinchenko O. A., Apalkov S. S.

The article is concerned with substantiating the directions of implementation of the European Green Deal in the system of ensuring national economic interests. The authors characterize the European Green Deal and define the current directions of its implementation in the conditions of post-war development of Ukraine. Among the national economic interests in the reconstruction of Ukraine in the vector of the European Green Deal, the authors distinguish «green» recovery, ensuring raw materials and energy security, «green» transition, restoration of industry on the basis of a circular economy, overcoming the negative environmental consequences of hostilities, spreading the principles of conscious consumption and social responsibility, ensuring food stability in compliance with eco-standards, supporting green projects in all spheres of social activity, green education and environmental culture in educating youth, effective functioning and transparent use of target and donor funds for the development of a «green» economy, decentralization of management and involvement of the public and communities in decision-making. The article substantiates each of these directions, determines the current state and prospects of its implementation. The authors prove that for the success of recovery processes, it is necessary to change the paradigm of thinking from an egocentric attitude to nature to conscious consumption and social responsibility. And active participation of the public in discussing the concept of reconstruction of the country, involving communities in making important decisions on the restoration of territories, information transparency and inclusiveness of power represent the key to the adoption by society of all further administrative, economic, social changes on the way to implementing the European Green Deal. As promising directions for future research, the authors highlight the development of mechanisms for implementing the «green» course with a perspective on post-war recovery, the methodological content of these mechanisms, the development of their instruments.

58-64

Authors: Kondratenko N. O., Dobryanskyy O. I.

The article forms an integrated system of economic security at the national level. It is noted that new threats to Ukraine’s national security today are caused by hostilities on its own territory and certain problems in the country’s economy. In this regard, a sharp lag in technical-technological, organizational, managerial, marketing, and human resources potentials in almost all sectors of the national economy is observed, which significantly affects the level of economic security at the national level. It is specified that when forming an integrated system of economic security at the national level, it is necessary to take into account certain objective circumstances, neglect of which may lead to a loss of control over national interests. It is defined that in today’s conditions, the economic security of a country is the foundation for the functioning of all elements related to this system: political, social, military, environmental, technological, information security, etc. Thus, it can be confidently stated that it occupies a central place in the national security system, since its provision guarantees the vital activity of virtually all spheres of society and contributes to the socioeconomic development of the State. A structure of the economic security of the State is proposed. After analyzing the proposed integrated system of economic security at the national level, the authors note the close interrelation of all types of threats and their impact on the realization of the national interests of the State. It is concluded that the formation of an integrated system of economic security at the national level, which combines the identification of threats to national security and the level of economic security of the country, can ensure the sustainability of all sectors of the economy, long-term economic growth and high quality of life of the country’s population. When building an integrated system of economic security at the national level, the authors identify the main types of threats: of national level, internal economic relations, of territorial level, and threats to public relations, the presence and relevance of which prove the need for an integrated approach to solving the problems of economic security.

74-85

Authors: Iefimova G. V., Pavlova M. D.

The process of reforming local self-government in Ukraine began recently and faces a large number of threats that require detailed study and determination of development prospects. The study aims at identifying the threats and prospects for attracting foreign investment in the Ukrainian territorial communities’ (UTC) activities. It provides an overview of the current state of foreign investment in Ukraine and analyzes the legal and regulatory framework for attracting foreign investment. The research is based on a comprehensive analysis of existing literature and UTCs’ reports, as well as primary data collected by the official website of the decentralization of Ukraine. The study finds that Ukraine has significant potential for attracting foreign investment, but there are several threats that hinder this process. These threats include a lack of transparency, corruption, an unstable political and economic environment, acts of war, and a weak legal and regulatory framework. These factors make it difficult for foreign investors to operate in Ukraine and negatively affect the country’s investment climate. Despite these threats, there are several prospects for attracting foreign investment in Ukrainian territorial communities’ activity. These prospects include the decentralization of power, which has created a favorable environment for local economic development and investment. Additionally, Ukraine has a highly educated workforce, abundant natural resources, and a strategic location at the crossroads of Europe and Asia, making it an attractive investment destination. To realize these prospects, the study recommends that the Ukrainian government take steps to improve the investment climate, including strengthening the legal and regulatory framework, combating corruption, and providing greater transparency. It also recommends that territorial communities develop investment strategies, promote their investment potential, and establish partnerships with foreign investors. By means of SWOT and TOWS analyses, taking into account trends, information provided about the strengths and weaknesses of the community, its capabilities, and threats, in order to attract foreign investment in Ukrainian territorial communities’ activities, the "strengths-opportunities" strategy was chosen. The research emphasizes the common features of UTCs, but developing an investment strategy for each region takes into account its peculiarities. Thus, the choice of a strategic goal is based on the community’s position regarding its advantages and capabilities, existing strengths, and a parallel focus on solving the most pressing problems. This combination will give a powerful impetus to the UTCs’ development and, if implemented, the opportunity to eliminate weaknesses and threats. Overall, the study concludes that Ukraine has the potential to attract significant foreign investment, but this requires a concerted effort from the government and territorial communities to address the threats and capitalize on the prospects.

96-104

Authors: Illiashenko S. M., Shypulina Y. S., Illiashenko N. S.

The article is aimed at developing an approach to defining strategic directions and, in their line, strategies for innovative development of enterprise in the context of technological transformations, depending on the ratio of the levels of its innovative capital and innovative culture, which are considered, respectively, as a set of intellectual resources and the ability to implement them. The structure of intellectual capital and the structure of the innovative culture of enterprise are closer defined in terms of adjusting the composition of their elements and their characteristics in order to account the specifics of innovative development in the unstable conditions of changing technological modes and the fourth industrial revolution. The scheme of interaction between intellectual capital and the innovative culture of enterprise in the process of substantiating the choice of promising directions, focused on the knowledge of its innovative development and the development of appropriate innovative strategies, is determined. This allowed to clarify the role of the basic prerequisites for innovative development: intellectual capital, which concentrates the intellect and knowledge of staff, being the main means and results of innovative activity, as well as innovative culture, which ensures perception, promotes the creation and use of innovations. The article proposes a methodical approach to assessing on a verbal-numerical scale the level of intellectual capital and innovation culture of the enterprise developing in an innovative way. A table of decisions is developed to determine promising directions and corresponding strategies for the innovative development of enterprise, depending on the ratio of assessments of the levels of its intellectual capital and innovative culture. The obtained and aggregated results deepen the foundations of innovation management in the part of improving the management system by formalized procedures for the processes of determining promising directions and strategies for innovative development of enterprises, taking account of the available intellectual resources and opportunities for their implementation in the context of changing technological modes and the fourth industrial revolution. Further research should be aimed at determining the role and place of innovative capital and innovative culture of innovative business enterprises in various spheres of activity and industry branches

111-129

Authors: Iastremska O. M.

The competitiveness of enterprises depends not only on the efficient use of economic resources, promotion of the product brand, but also on meeting the needs of consumers for quality products. Therefore, economic entities should pay attention to the production of goods without deviations from standards and norms and without rejects, which will allow them to win in the market competition. This justifies the relevance of the subject matter of the article and its timeliness. The purpose of the article is to generalize the theoretical concepts of the product quality management process and to develop recommendations on the example of an industrial enterprise of the flow type of production to reduce product defects. The object is the process of managing product quality and reducing rejects. The article’s subject is the theoretical provisions, methods, methodological and practical recommendations for managing the quality of products of industrial enterprises aimed at reducing the percentage of defective products. The main methods used in the article are general scientific methods of cognition: analysis and synthesis, theoretical generalization, monographic, structural-logical and system analyses, special research methods: statistical analysis, expert survey, Pareto rule, Ishikawa method, and graphical method. The main results presented in the article are as follows. Based on the generalization of scientific literature, the author proposes a definition of the concept of quality. Quality should be understood as ensuring the quality of each type of economic resource, which allows for a high-quality course of business processes and production of goods which satisfy the needs of consumers and are provided with their effective demand. In other words, products that are defective in terms of their technical or quality characteristics do not meet their standard and are unable to provide their intended functions. Products can be recognized as defective at any stage of production and operations of the production cycle. On the example of the industrial enterprise under study, the article considers the statistics of nonconformity and defective products in the most important production unit, the work of which is characterized by a significant percentage of rejects, according to operational and output control. Using the Pareto rule, the main causes of rejects are identified and Ishikawa diagrams are constructed for the most significant two causes. Further, in accordance with the Ishikawa diagrams, measures to prevent nonconformities and defects in products are proposed for two main reasons and five sections: equipment; control system; staff; raw materials; and working conditions. A unified standardized sequence for determining the causes of deviations and rejects in 16 stages has been developed. The use of training methods for staff of an industrial enterprise to improve product quality and reduce rejects is proposed.

138-150

Authors: Karpinskyi B. A., Karpinska O. B.

The purpose of the article is to allocate and systematize scientific views on the motives that become an effective strategiologic trend in the formation and development of the State, synthesized and manifested through the State-Creating Patriotism of the Nation (SCPN) with its dominants: qualitative; and quantitative (tax-based). It is emphasized and substantiated that the motives have their own characteristic hierarchy within the system of manifestation of both SCPN and strategiology of development, since they are oriented towards a particular person or the international community of States in general. It is emphasized that in order to select and analyze in detail the manifestation of characteristic motives as to the considered issues of creation of the State and their further activation, it is necessary to carry out a gradation regarding the classification of citizens according to the fundamental provisions of sociology, in particular, through subcultures (i. e., groups of people who recognize a certain system of values and are united are united according to certain social characteristics). It is substantiated that the SCPN represents all that the people in general and every citizen in particular do in the interests of creating an independent, sovereign, civilized State. It is noted that taxes are a quantitative feature and a measure of the motive-actual SCPN to specify the real participation (current and future) of taxpayers in the formation of the financial component of life provision and further development of the State. The author emphasizes that a taxpayer does not just pay taxes, but by doing so, creates his/her own civilized State - for himself/herself and the descendants. It is through a purposeful strategiologic activation of the motiveness of SCPN, changing only by 1% the level of shadowing of the world economy, that it is possible to provide up to $ 350 billion of additional tax revenues to the States’ budget. The motive-based mechanism for activating the process of creation of the State based on the paradigm of the SCPN and the strategiology of the State development is highlighted. The motivational fundamentality of activating the quantitative approach of the SCPN as an effective strategiologic direction of development of each State ensures, in particular: growth of budget revenues; reduction of both the level of the shadow economy due to the both activation of patriotic sentiments of taxpayers and the costs of tax administration; accumulation of more effective opportunities for the State to resolve and ensure the constitutional rights of citizens.

161-169

Authors: Arzhevitin S. M., Makarov O. Y., Krasnova I. V.

Monetary support of the economy represents a necessary prerequisite for ensuring sustainable economic development, which is a priority strategic direction of public policy of any State. The purpose of the article is to identify the features and trends of monetary provision of the world economy in general and in terms of groups of countries, which will contribute to a better understanding of the relationship between economic development and the process of monetization of the economy. The concept of «monetization of the economy» is distinguished as a state and as a process. In the context of management, the monetization of the economy should be considered as a process that is a product of a reaction to the measures of public policies to manage the supply and demand for money, which is expressed in the remonetization and demonetization of the economy, while the state of monetization of the economy is proposed to be considered as a criterion for the adequacy of monetary provision to the economy. It is noted that a sufficient level of monetary provision of the economy has a positive impact on economic development, the dominant component of which is defined as economic growth. The analysis of the monetization of the world economy in the dynamics for 2000-2020 reveals a general trend towards monetary expansion of world economies. Based on data for 133 countries, the article identifies an increasing correlation between the level of monetization of the economy and economic development in the years of 2000, 2010 and 2020, which shows the importance of ensuring the processes of remonetization of economies for the economic development of the global economy. It is determined that the monetization of the world economy has a general upward trend, which intensifies after the passage of economic crises. The hypothesis that there is a link between the level of monetary support of the economy and economic development in other countries is justified. The existence of a positive relationship over the past 20 years, which has been strengthening over time, has been revealed. Several countries have a generally high level of monetization, but do not have tangible progress in economic development, which is primarily due to the non-monetary features of the development of these countries.

185-191

Authors: Kaneva T. V., Karpenko M. Y.

The purpose of the article is to disclose and deepen the theoretical provisions on the nature and role of the revenue side of local budgets in ensuring the socioeconomic development of territories. The State financial policy should be focused not only on solving urgent current problems and tasks, but also have a perspective character, which consists in creating the preconditions for socioeconomic development. The article conceptualizes the role of the local budgets’ revenues in ensuring the socioeconomic development of territorial communities. The main functions of local budgets are defined. The concept of sustainable development and a totality of indicators that characterize it are studied. The theoretical aspects of the impact of local budget revenues on socioeconomic development are revealed. The advantages of budgetary decentralization are determined, the indicators of budgetary decentralization in the field of revenues are considered. The provisions on the impact of decentralization on socioeconomic development are generalized. The authors applied a system approach. They also used the dialectical method, methods of synthesis and analysis, comparison and generalization. It is substantiated that local budgets play a significant role in regulating socioeconomic processes, performing both distributive and regulatory functions. Local institutions should have sufficient financial resources at their disposal to finance public services and infrastructure development. The transformation of interbudgetary relations is intended to increase fiscal responsibility and motivation to accumulate own budget revenues to cover expenditures. It is defined that fiscal decentralization is aimed at improving the quality of public administration and the formation of financially viable territorial communities. The decentralization processes are intended to improve the quality of public administration and form financially viable territorial communities in which the basic set of public services will be as close to the consumer as possible, and the quality of these services will meet the established criteria.

198-204

Authors: Lysenko O. V.

The world market of hotel services is constantly changing, has a dynamic structure, develops in interaction with other markets of goods and services, is influenced by the market environment. Therefore, modern hotels have to adapt to a new type of tourists with rather high requirements for accommodation conditions. In Europe, there is a tendency to stay in 1* and 2* hotels. The study covers data from such Polish cities as Wroclaw, Poznan, Gdansk. And they are the spatial series, on the basis of which regression mathematical models are built for evaluating the trends of changes in the level of prices for the corresponding hotel rooms. The series are spatial because the data are collected at a specific moment in time, but from different objects located geographically at different points. The built models are not representative, but they provide an opportunity to assess the trends of price growth or decline and the possibility of entering into crisis economic manifestations. The work is devoted to the analysis of trends in hotel room price changes and the evaluation of these changes using the construction of regression economic-mathematical models of space and time series. The relevance and significance of the study lies in the analysis and assessment of price trends for standard hotel rooms in the popular segment of 1* and 2* hotels in Poland. This country is Ukraine's closest neighbor, therefore the study of economic trends in the development of its hotel industry is relevant not only for trends in Europe, but also for the future of the hotel segment of our country. The trends in the development of the hotel industry in Europe and in Poland in particular are analyzed. Extensive statistical material has been collected, which is up-to-date, because the figures are taken from booking sites as of November 2022. Most often, the analysis of economic trends in the development of the hotel industry is based on expert assessments or statistical data from travel agencies. The conducted analysis is based on approaches to mathematical modeling and the use of mathematical and statistical tools of the Microsoft Excel software. The conducted analysis showed the presence of a mathematically defined tendency towards a moderate increase in prices for «STANDARD» hotel rooms. The price function for these hotel rooms is increasing and crosses the growth limit which is the corresponding exponential function built on the base of the same spatial number series.