The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach
This article is devoted to the directions of investment attractiveness increasing of Black Sea postsocialists countries which are formed on the base of Donetsk Investment Development Program with the usage of synergetic forming approaches. The offered approach of an estimation of investment potentia...
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irk-123456789-240252022-09-29T21:48:19Z The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach Makogon, Yu.V. Orekhova, T.V. International and Regional Economics This article is devoted to the directions of investment attractiveness increasing of Black Sea postsocialists countries which are formed on the base of Donetsk Investment Development Program with the usage of synergetic forming approaches. The offered approach of an estimation of investment potential of cities and the specified directions of increase of their investment appeal have universal character for the majority of the postsocialist countries of Black Sea Coast, considering rather similar characteristics of conditions internal and external environments of their development. Key words: Synergetic, investment climate, investment attractiveness, investment potential, Black Sea postsocialists countries, Donetsk investment development program. Стаття присвячена напрямкам збільшення інвестиційної привабливості постсоціалістичних причорноморських країн, що сформовані на основі Програми інвестиційного розвитку міста Донецька з використанням синергетичних підходів. Пропонований підхід оцінювання інвестиційного потенціалу міст та зазначених напрямків збільшення їхньої інвестиційної привабливості має універсальний характер для більшості постсоціалістичних країн Причорномор’я. Ключові слова: синергетичний, інвестиційний клімат, інвестиційна привабливість, інвестиційний потенціал, постсоціалістичні країни Причорномор’я, Програма інвестиційного розвитку міста Донецька. Статья посвящена направлениям увеличения инвестиционной привлекательности постсоциалистических Черноморских стран, которые сформированы на основе Программы инвестиционного развития города Донецка с использованием синергетических подходов. Предлагаемый подход оценки инвестиционного потенциала городов и указанных направлений увеличения их инвестиционной привлекательности имеет универсальный характер для большинства постсоциалистических стран Причерноморья. Ключевые слова: синергетический, инвестиционный климат, инвестиционная привлекательность, инвестиционный потенциал, постсоциалистические страны Причерноморья, Программа инвестиционного развития города Донецка. 2010 Article The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach / Yu.V. Makogon, T.V. Orekhova // Економічний вісник Донбасу. — 2010. — № 4(22). — С. 111-118. — Бібліогр.: 5 назв. — англ. 1817-3772 http://dspace.nbuv.gov.ua/handle/123456789/24025 330.322[(4-11)+(4-191.2)] en Економічний вісник Донбасу Інститут економіки промисловості НАН України |
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International and Regional Economics International and Regional Economics Makogon, Yu.V. Orekhova, T.V. The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach Економічний вісник Донбасу |
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This article is devoted to the directions of investment attractiveness increasing of Black Sea postsocialists countries which are formed on the base of Donetsk Investment Development Program with the usage of synergetic forming approaches. The offered approach of an estimation of investment potential of cities and the specified directions of increase of their investment appeal have universal character for the majority of the postsocialist countries of Black Sea Coast, considering rather similar characteristics of conditions internal and external environments of their development. Key words: Synergetic, investment climate, investment attractiveness, investment potential, Black Sea postsocialists countries, Donetsk investment development program. |
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Makogon, Yu.V. Orekhova, T.V. |
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Makogon, Yu.V. Orekhova, T.V. |
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Makogon, Yu.V. |
| title |
The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach |
| title_short |
The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach |
| title_full |
The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach |
| title_fullStr |
The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach |
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The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach |
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investment attractiveness increasing of black sea postsocialists countries: synergetic approach |
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Інститут економіки промисловості НАН України |
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2010 |
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International and Regional Economics |
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http://dspace.nbuv.gov.ua/handle/123456789/24025 |
| citation_txt |
The Investment Attractiveness Increasing Of Black Sea Postsocialists Countries: Synergetic Approach / Yu.V. Makogon, T.V. Orekhova // Економічний вісник Донбасу. — 2010. — № 4(22). — С. 111-118. — Бібліогр.: 5 назв. — англ. |
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111
Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
Introduction
For present situation taking place a global economy
and in the economy of the Black sea postsocialists
countries particular accurate and clear priorities in the
socioeconomic development n the cities of this region,
their self-determination among the objects of internal and
external environment on regional and international markets
which will enable to build up relations with investors and
financial organizations effectively, to reaction adequately
on strategic challenges of global economic system.
The methodological should be research determined
of global and regional integration of economic systems
was initially done in the works of Z. Amin, I. Wallerstein,
T. Levitt, A. Marshall, D. Meadowz, R. Merrit,
G. Modelski, G. Myrdal, J. Randers, J. Stiglitz, A. Frank,
S. Huntington, R. Schoenberg, J. Schumpeter and others.
The most significant works concerning this problem
belong to such Ukrainian and Russian scientists as
O. Bilous, I. Blank, V. Budkin, U. Kozak, V. Collontay,
E. Kochetov, D. Lukianenko, U. Makogon, V. Novitskiy,
U. Pachomov, E. Saveliev, B. Smitienko, V. Chugikov,
I. Shkola, O. Shnirkov.
Despite of the considerable number of works of
foreign and domestic scientists concerning countries’
investment attractiveness of the countries, regions and
certain branches of economy, there are should be system
approach to investigation of the investment development
process of cities of the Black sea countries in the context
of integration processes intensification within the
boundaries of The Black sea Economic Cooperation
Organization.
The aim of this article is to define approaches of
investment attractiveness growth of the cities of The
Black sea region on the examples of the methods used
for creating of Donetsk Investment Development
Program.
Research results
The invention of computers and the development
of computer technology have had a significant impact
on the methodology of scientists, researchers and
economists. Until recently, actually, a «life» experience
served to economists as the analogue of experiment,
which they have scooped from publications in scientific
journals, monographs, etc. As a further improvement of
methods for the study of socio-economic systems may
be the development of toolkit, which makes it possible to
carry out experiments with the model, but not with the
system itself. Methodological basis for modeling and
studying the economy as a complex nonlinear system
can be Synergetics or Selforganization theory. At present,
it is actively developing the study of socioeconomic
systems from the standpoint of new scientific directions
of Synergetics — Catastrophe theory, Chaos theory,
bifurcation, attractors, entropy, extra capacity and so on.
In spite of increased interest in Synergetics in recent
years (Yankovskiy et al., 2010), a lack of works in the
field of mathematical modeling of socio-economic systems
and insufficient number of teams working at a modern
level are observed.
Synergetic ideas began to penetrate into the socio-
economic sciences from the late 80-ies. Basically, with
few exceptions, the authors of the first works in the
field of economic synergetics were physicists and
mathematicians. Results have been obtained by means
of synergetics specific toolkit — identification of order
parameters, design of nonlinear mathematical models,
carrying out of computer experiment —, which should
be comprehended by economists, and they, in some
sense, can change the methodology of economic
researches.
Why do economists deal with Synergetics?
Synergetics, first of all, is of great importance as a view
on events that take place in the world, differing from the
traditional deterministic aspect, which has been dominating
over science since Newton’s times. In other words,
Synergetics is useful as means of scientific data
interpretation in a new way. It allows you to observe and
assess what, probably, remain outside the traditional
review. Thus, the initial terms of orthodox economics
are the following:
— people tend to the goal: consumers — to get the
maximum benefit, producers — the maximum profit;
— movement to the goal is a predefined process,
clearly predicted and universal (i.e. identical in all
countries). The result of the processequilibrium market
— is also unambiguous;
УДК 330.322[(4-11)+(4-191.2)]
Yu. V. Makogon,
Dr. of Science (Economics), Prof.,
T. V. Orekhova,
Dr. of Science (Economics), Prof., Donetsk National University, Ukraine
THE INVESTMENT ATTRACTIVENESS INCREASING OF BLACK SEA POSTSOCIALISTS
COUNTRIES: SYNERGETIC APPROACH
112
Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
— movement to the equilibrium market occurs
spontaneously and state control for this purpose is not
needed, moreover, it is not desirable.
Synergetic approach, on the contrary, bases its
conclusions on the following:
— economy is a developing system and should take
into account the theory of developing systems;
— when moving to the goal, due to nonlinear
feedback there can be unstable and chaotic stages. This,
in its turn, may lead to the different final states of market
equilibrium. Modern science can estimate the probability
of different options, but cannot give a definite answer
which of them will take place. Therefore, modern science
does not accept the unambiguous prediction of the future
and thus it differs from the orthodox economics;
— when there are several equilibrium states, the
problem of choice is aggravated. This problem should
be resolved by State taking into account the peculiarities
and national interests of the country.
Synergetics let us see the world from «another
system of coordinates». Synergetic scientist’s conclusions
are often unexpected and contrary to accepted truths.
However, it is such a view allows us to find out what is
lost in the traditional perspective, and to warn of the
serious dangers that may arise during the development
of society, if the critical, evolutionarily proved decisions
will not be taken at the bifurcation moment of choice.
Possibility of scientific study of crises and catastrophes
has long been questioned because of originality and
uniqueness of these phenomena. Later, however, much
common was found in development of crises and
catastrophes of various natures.
According to Synergetics (Yankovskiy et al., 2010),
two models describe the society development as a nonlinear
system: evolutionary and bifurcation. Distinctive feature of
the evolutionary development is the constancy of the system
quality. This is a period with well-predicted linear changes.
However, it is here the growth of internal disequilibrium
occurs, a growing crisis. The destruction, destabilization of
each system has its own way. The system structure has its
weak points, which can have the greatest impact. Therefore,
destabilization depends primarily not on the specifics of
external influence,but on the system structure.
The essence of the investment climate should be
considered at macro- and microeconomic levels. At the
macro level it includes factors that characterize political
and economic situation in a host country, and the socio-
psychological condition of the population. In the first
case the main role is devoted to such parameters as state
policy concerning foreign investments, the tradition of
observance of international agreements, the propensity
to nationalization of foreign property, the solidity of state
institutions, the level of state interference in the economy
etc. According to conditions the political factor is
dominating while evaluating the investment climate in our
country by a potential investor.
In terms of economic parameters of the investment
climate the prior ones are indexes that characterize the
overall macroeconomic dynamics, the currency status,
financial and credit system of the country, customs regime
and the regime of the work force employment.
The micro level the investment climate reveals itself
through bilateral relations between an investor and the
certain government bodies, economic entities —
suppliers, buyers, banks, trade unions and working teams
of a host company while both levels are closely
interrelated. The investment climate is formed under the
influence of the management activity of the public
authorities. The latter can be consciously directed to the
establishment of the particular investment environment
in the country and it can be built without taking into
account the possible consequences for the foreign
enterprise, but with the influence on it. Thus every
country opened to the import of capital has at her disposal
a specific system of capital adopting that represents a
set of the elements of the regulatory and legal base and
institutions which carry out state policy with regard to
foreign capital investments. Generally capital acceptance
system reflects the intention of the host country to find
the optimal variant to include foreign investments into
the solution of foreground tasks of national development.
To implement these objectives defined in Donetsk
socioeconomic development Strategy until 2020, it was
provided the elaboration of Donetsk Investment
Development Program until 2020, the main aim of which
was to attract maximum investments from the all sources
and an increase of efficiency of their usage by
concentrating on the prior directions of the socioeconomic
and social development of the city. The result of this
program realization should be:
— the improvement of living standards and the
population walfave in accordance with defined in the
strategy natural and monetary indexes of the
socioeconomic growth of the city and the standard of
living in Donetsk;
— the guaranteeing of constant socioeconomic
development of the city on the basis of the prior activities
determination and economic policy directions;
— Donetsk integration into the system of national
and international flow of financial resources;
— the formation of partnership between city’s
executive authorities, representatives of business and
general public;
— the creation of an effective control system of
the city in order to solve the problems connected to the
socioeconomic development.
113
Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
In order to achieve this goal in the process of the
work done by the executive team the chief of the work
team who is the author of this article has set and solved
such tasks:
• an assessment of investment attractiveness and
Donetsk potential has been made;
• the directions of investment attractiveness increase
and realization of Donetsk investment potential have been
elaborated in order to solve socioeconomic development
tasks;
• the long-term and short-term program of measures
and actions has been elaborated to mobilize investment
resources from budget and off-budget funds, private
domestic and foreign sources and also to use them
effectively for the constant innovative development of
the city;
• the system of encouraging companies which are
busy with the construction of buildings of paramount
importance for the city , has been formed;
• the methodical security of the assessment of
economic and social effect has been developed taking
into account investment projects which can be
implemented with use of state measures of stimulation;
• the information support system of the city’s
investment development has been formed;
• the directions of constant monitoring system of
the Donetsk investment climate have been determined.
The integrated index of cities’ investment
attractiveness according to the author’s methods
(Orekhova, 2009) was suggested to calculate as an
average quantity of five synthetic indexes which are
average quantity of the system of standard analytical
indexes:
G = 0,25ED + 0,2II + 0,2SDCh + 0.15MRD +
0,20IP,
Where ED —the level of city’s economic
development;
II —the development of commercial and investment
infrastructure;
SDCh —sociodemografic characteristic of the city;
MRD —the development of market relations;
IP —innovation potential of the city.
The assessment of Donetsk investment attractiveness
potential was made firstly on the principals of -SWOT
analysis, secondly —comparative analysis of the similar
indexes in Kiev and Dnipropetrovsk cities which leaders
to attract the direct foreign investments to Ukraine.
The comparative analysis of the indexes that
characterize the level of economic growth in Kiev,
Dnepropetrovsk and Donetsk gave a possibility to make
Fig. 1. System of analytical indexes, which characterize the level of economic development in Donetsk,
Dnepropetrovsk, Kiev
Source: Statistic department of Kiev, Donetsk and Dnepropetrovsk
0,68
0,42
0,290,312
0,367 0,363
0
0,1
0,2
0,3
0,4
0,5
0,6
0,7
0,8
Donetsk Dnepropetrovsk Kiev
re
la
tiv
e
am
ou
nt
Export's share of city
output aggregate
Share of unprofitable
entreprises
2091
1425
2300
9566,6
6878,9
14223
0
2000
4000
6000
8000
10000
12000
14000
16000
Donetsk Dnepropetrovsk Kiev
UA
H
Average monthly wages
UAH
Volum of investment per
capita, UAH
Volume of products sold per capita
18730,1
29375
33716
0
5000
10000
15000
20000
25000
30000
35000
40000
Donetsk Dnepropetrovsk Kiev
Volume of
products sold per
capita
0,05 0,04 0,129
1,11 1,06
4,4
0
0,5
1
1,5
2
2,5
3
3,5
4
4,5
5
Donetsk Dnepropetrovsk Kiev
re
la
te
vi
a
m
ou
nt
Citiy share of
country GDP
Total product's
rate of growth
114
Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
a conclusion that in Donetsk a number of the unprofitable
businesses are lower by 15% than a similar index in
Dnepropetrovsk, and by 14.01 % in Kiev. The share of
export in an output aggregate of the city exceeds the
similar index by 2.1 in Kiev and by 1.46 times in
Dnipropetrovsk.
At the same time the volume of the sold products
per capita in Donetsk is lower than similar indexes in
Dnepropetrovsk and Kiev (more than by 1.57 and 1.8
times respectively). Besides Donetsk is behind the above
mentioned cities in terms of the output aggregate increase
( in comparison with Kiev — almost by 4 times), and in
terms of the city’s specific gravity index in the gross
product of Ukraine Donetsk 2.58 times behind Kiev.
Although the Donetsk average wage rate is 1.5 higher
than the index in Dnepropetrovsk, but is 1.1 times lower
than the wage rate in Kiev.
The level of capital investments per capita in Donetsk
is higher than the similar index in Dnepropetrovsk, but
4656,4 UAH (by 1.5 times) lower than in Kiev.
The comparative analysis of the commercial and
investment infrastructure development that has been
carried out, has shown that the number of stock and
commodity exchanges in Donetsk the same as in
Dnepropetrovsk and 1.1 times higher than in Kiev (fig. 2).
At the same time Donetsk is 2.8 times lower than in
Kiev as for number of construction companies, in terms
of hotel business development is by 1.5 times lower than
in Kiev and by 1.53 times than in Dnepropetrovsk and as
for number of telephone lines per thousand inhabitants
— Donetsk is lower than than Kiev by 1.24,
Dnepropetrovsk by 1.11 times.
According to comparative analysis of the main
demographic characteristics Donetsk is behind
Dnepropetrovsk as for the number of students of University
from the total population of the city and it is 2 times behind
Kiev. In terms of the average monthly wage Donetsk is
ahead of Dnepropetrovsk and behind Kiev (fig. 3).
The comparative analysis of the level of market
relations development in the above cities has shown that
Donetsk is a leader in terms of the index of a joint stock
companies share in the total number of economic entities
(by 6.3 times higher than in Dnepropetrovsk and by 1.73
times — than in Kiev (fig. 4). At the same time we can
see the Donetsk weak position in terms of the number of
enterprises with foreign investments ( by 3.7 and 6.5
times respectively) (fig. 4).
The comparative analysis of indexes that
characterize the level of innovation potential development
reveals that Donetsk is behind in terms of the number of
Fig. 2. Indexes, which characterize the level of development commercial and investment infrastructure
Source: Statistic department of Kiev, Donetsk and Dnepropetrovsk
10,4
10,6
10,8
11
11,2
11,4
11,6
11,8
12
12,2
Number of commodity and stock exchange
Donetsk
Dnepropetrovsk
Kiev
Level of development hotel chain (per 1000 inhabitants)
0,03
0,046
0,045
0 0,005 0,01 0,015 0,02 0,025 0,03 0,035 0,04 0,045 0,05
Donetsk
Dnepropetrovsk
Kiev
307 341
382363
244
1020
0
200
400
600
800
1000
1200
Donetsk Dnepropetrovsk Kiev
Number of
phonelines per 1000
inhabitants
Number of contract
contruction
115
Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
“SRACD” executives compared with Dnepropetrovsk by
1.98 times, with Kiev — by 7.28 times; in terms of share
of the enterprises that introduce innovations it is 3.6 lower
than Kiev; in terms of the volume of the ‘SRACD ”
implemented — by 1.6 times than in Dnepropetrovsk
and by 6.7 times than Kiev (fig. 5).
So, the comparative analysis conducted on the basis
of author’s program of the investment attractiveness
potential of Donetsk, Kiev and Dnepropetrovsk has
shown that Donetsk is 1.5 lower than Kiev in terms of
integrated index of investment attractiveness potential,
but it is ahead of Dnepropetrovsk- by 1.2 times that is
confirmed by data about actual attracted foreign
investments in the economies of these cities (fig. 6).
Thus, strengths of investment potential of Donetsk
are advantages of economic and geographic location, high
industrial potential and good supply materials, presence
of large internal investors, developed system of
interindustrial links, presence of vertically-integrated
business, high personal income in comparison with
average income in Ukraine, presence of high scientific
and skilled potential, high level of education.
Business infrastructure is a resource which makes
Donetsk attractive for investors (transport, road and rail
network, hotel chain, telecommunication service, housing
and community amenities, informative services).
Dynamic of investments from all sources of
financing, development of market relations, part of low-
technology branches of industrial production, enterprises
innovative activity also play their role in this city attractive.
The long-term and short-term programs of the city
investment development need mobilization of investments
in a short-term period ( before 2012) for the real sector of
economy — 6645682.2 thd UAH, in the services and
infrastructure sector — 12014656.1 thd UAH, in the social
sector — 572950 thd UAH, in the innovation and energy
conservation sector — 586120,015 thousand UAH, in the
ecology and environment protection sector — 989134 thd
UAH; in a long-term period (before 2020): in the real
economy sector — 3232189 thd UAH, in the services and
infrastructure sector — 194191117.6 thd UAH, in the social
sector — 255805 thd UAH, in the innovation and energy-
saving sector — 4944369.55 thd UAH, in the ecology and
environment protection sector — 60126 thd UAh .
The total sum invested in perspective projects
which were in Donetsk Investment Development
Program before 2020 was 7652964.9 thd UAH, the total
demand for investments for these projects is 241811379.6
thd UAH. The general systematization of financial sources
of Donetsk Investment Program realization before 2020
is done on fig. 7.
The traditional financial sources of the investments
projects on industrial projects and in services are private
capital both from private investors funds and credit funds
except the state owned objects.
From the above said the directions of investment
attractiveness increase and realization of Donetsk
investment potential should be :
— the intensification of investment
attractiveness aimed at infrastructure development and
precisely transport infrastructure development with regard
to socioeconomic needs of city’s development; high
speed rates of communication infrastructure development,
the increase of investment attractiveness of IT spheres;
a substantial improvement of national telecommunication
network; the construction of the shopping malls, offices,
cultural and sport centers; the development of the hotel
business, reconstruction of old construction of the new
accommodation, reconstruction of engineering networks
and equipping of house and municipal services in order
to provide citizens with living conditions that are up to
the level of up-to-date quality standards; replacement of
industrial sites beyond the central part of the city;
— the improvement of the normative legal
Fig. 3. City’s social-demographic indexes
Source: Statistic department of Kiev,
Donetsk and Dnepropetrovsk
0,02
0,1
0,02
0,19
0,06
0,22
0
0,05
0,1
0,15
0,2
0,25
City's inhabitants rate of general
population
Student rate of general population
Donetsk
Dnepropetrovsk
Kiev
Fig. 4. Status of development market relations indexes
Source: Statistic department of Kiev, Donetsk and
Dnepropetrovsk
0,19
0,03
0,11
0,02
0,13
0,074
0
0,02
0,04
0,06
0,08
0,1
0,12
0,14
0,16
0,18
0,2
Donetsk Dnepropetrovsk Kiev
re
la
tiv
e
am
ou
nt
JSC's share of
economic agents
Share of
enterprise with
foreign
investments
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Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
regulation of the entrepreneurship: the improvement of
the procedure of passing and obtaining permissive
documents; the development of the new redaction of
Donetsk building Rules in accordance with the General
plan of the city; the confirmation of the normative
estimated money value of Donetsk nonagricultural lands;
— the investment potential development with the
aim of successive transition to international standards of
industrial goods production; economic stimulation of
resource- and energy saving, implementation of
environmentally friendly equipment and technology,
extension of the technologies in which innovative
resources are used; the formation of ecological works
and services, market the supply of environment protection
devices, the means of automation and equipment;
— the development of social sphere of the city in
Fig. 5. The level of development of innovative potential in cities
Source: Statistic department of Kiev, Donetsk and Dnepropetrovsk
47
93
342
9 11
32
0
50
100
150
200
250
300
350
400
Donetsk Dnepropetrovsk Kiev
Organization, which put in
scientific and sci-tech works
Corporates, which introduce
innovation
207,5
634,5
2640,7
0
500
1000
1500
2000
2500
3000
Donetsk Dnepropetrovsk Kiev
m
ill
io
n
UA
H
Fig. 6. The accounting result of integrated indexes of investment potential in Donetsk,
Dnepropetrovsk and Kiev.
Source: Statistic department of Kiev, Donetsk and Dnepropetrovsk
0,488
0,166
0,649
0,603
0,7
0,705
0,448
0,284
0,167
0,644
0,783
0,6
0,754
1
0,789
1
0,974
0,92
0 0,2 0,4 0,6 0,8 1 1,2
Integrated index of
investment potential
Capacity of innovation
Market ralations
development
Sociodemographic index
Commercial and
investment infrastructure
development
Level of economic growth
Kiev
Dnepropetrovsk
Donetsk
particular :development and implementation of special
programs of municipal housing construction, the formation
of social housing funds; stimulation of entrepreneurship
development, the creation of conditions for stable
performance and increase of operating efficiency of small
businesses and entrepreneurs; modernization of existing
workplaces, the upgrading of their technology level,
improvement of working conditions on workplaces; extra
workplaces; increase high-technology and innovative
workplaces share; increase in the number of working places
for noncompetitive workforce (disabled, women with small
children) on the labour market; increase of capital
investments in nonproduction and humanitarian sphere at
the expense of local budget; increase of investments in the
fixed capital for environment protection and rational use
of natural resources;
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Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
— the development of transport system which
should include updating of the park all kinds of transport
in the park, optimization of its structure and network;
research of sources for covering expenses and for
modernization of city passenger transport; reconstruction
andextention of streets; improvement of transport
network planning, organization of highway exits from
the city; continuation of the construction of underground
passages; adjusting control systems on the major cross-
roads to the real intensity of transport and guarantee its
realization using technical methods of regulation;
substantiation of directions for the development of
networks for trams and trolley busses and usage of
methods for upgrading its work ;
— the informational support of the city Investment
Development Program realization in particular: preparation
and distribution of presentation materials about Donetsk
and its Investment Development Program; creation of
“Investment activity” section on the site of the city mayor
and council; participation of municipality in exhibition
activities ( investment forums, international summits
,exhibitions etc); assistance in the development of the
international exhibition activity in the city by informing
and inviting businesses and organizations from near- and
far-abroad countries to the exhibition campaigns of
Donetsk; presentation of enterprises’ investment projects
which are important for the city during international
business meetings, exhibitions, forums; arrangement of
the contest of investment projects “Invest in Donbass
— invest in future”; arrangement of the International
economic Forum “Open Donbass”; development of
cooperation with the main investment funds, companies
and banks ( EBRD, the World Bank and others) in order
to submit an application for obtaining credits, grants for
the development of communal system and transport
infrastructure of the city; assistance in setting up the
representation offices, Honourable and General consulates
of the foreign countries in Donetsk ; cooperation with
near- and far-abroad countries concerning the
establishment of partnership and twin-city relations;
organization of cooperation with international
organizations that encourage the development of local
self-administration in Ukraine; provision of informational
support of investment projects;
— scientific and consulting activity: the provision
of consulting services to the owners of projects and
programs (communal and commercial enterprises,
representatives of small and medium-sized business ; the
participation in seminars, conferences, forums and other
activities concerning the attraction of foreign investments
and development of international relations; the
improvement of the foreign language skills of city council
specialists with a help of language courses;
— environmental improvement in cities by means
of mining and using coalmine methane as energy vector;
planting sanitary-protection zone around industrial
enterprises and creation of special areas for utilization of
waste to avoid air-spraying gassy toxins for a considerable
distance; utilization of mine waters; increasing, facilities
for recycling and cascade round of water utilization in
the industry; concentration of benefication rocks and
extraction of components of technologic minefields;
conversion of metallurgical production wastes, with
graphite; using attle for concreting exhausted mines;
coffin and mining sites restoration; forestry-based,
sanitary and hygienic, recreational, building,
hydroeconomic; liquidation of manufacturing, domestic
and building dumps; creation of so-called “waste yard”;
organization of separate domestic rubbish collecting and
providing of differentiate payment for heaped and sorted
waster collecting removal and charging extra payment
for unsorted waster; setting up new factories based on
current disposal plants.
Conclusion
To raise funds for local budget as means of financial
security of investment project implementation in social
sphere, they should create land market.
In addition, real property taxes, corporate profit
taxes, environmental payments are substantial stakes in
the reserves of increasing both private and fixed Donetsk
budget source of financing
Provided private investments for implementing
certain projects will be paid back, for these investments
may be used method of mutual funds, which widespread
in Europe, when central authorities, which are interested
in project implementation, and local authorities solve a
problem by means of mutual funds. The possible source
of finance funds in ecology investment are grants from
International ecology organizations, government
investments.
It is useful also to develop new for city ways of
accumulation extra-budgetary funds, that is accelerate
development of borrowed financing investments hierarchy
to city projects by internal municipal bonds, such as
governmentally guaranteed loans and setting up borrowed
banking public institute.
The primary element of system approach to
creating prosperous investment climate in city is setting
up institute for its regular monitoring, in which it should
be to included: organizating the work of municipal
investment and innovative commission; setting up the
independent investment monitoring agency in Donetsk
and attract officials from local government bodies,
academes and business to the agency. The goal of
establishing this Agency should be formation of social
partnership between all mentioned above bodies in order
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Економічний вісник Донбасу № 4 (22), 2010
Yu. V. Makogon, T. V. Orekhova
to settle there issuces of social-economy city
development, determine the priority investment’s
monitoring clime indexes in Donetsk, proceeding from
mentioned in “Financing sources of investment
development program in Donetsk by 2020 year” tasks,
the solution of which should be directed to increase of
its investment attractiveness and investment potential
implementation; an analysis of integrative index
dynamics of city investment attractiveness by proposed
methods; periodical informing of public and local
government bodies about results of investment clime in
Donetsk, adjustment of long-term tasks in project
“Financing sources of investment development program
in Donetsk by 2020 year’, based on its results.
Provided method of appraisal investment potential
of city and mentioned determined ways of increasing
their investment attractiveness are common for majority
post-socialist countries of Black Sea region, taking into
account relatively similar conditions of external and
internal environment of their development.
Synergetics and such its direction, as catastrophe
theory, chaos theory, bifurcations, attractors, entropy,
extra capacity and so on combined with the now classic
and long-known theories of cyclical development of the
economy are able to more accurately predict the
development processes of complex economic systems.
Knowledge and ability to use the laws of Synergetics
provide a more properly decision-making and efficient
detection of global trends.
References
1. www.gorstat.kiev.ua — Statistic department of
Kiev. 2. www.donetskstat.gov.ua — Statistic department
of Donetsk. 3. www.dneprstat.gov.ua — Statistic
department of Dnepropetrovsk. 4. Orekhova T. Forming
and Development Investment Attractiveness of the Black
Sea Area Cities / T. Orekhova // Problems and Prospects
of Cooperation Between the Countries of Southeastern
Europe within the Context of Black Sea Economic
Cooperation. — Collection of Scientific papers —
Sevastopol — Donetsk, 2009. — p.47 — 54.
5. Yankovskiy, M., Makogon, Y., Ryabchyn, O.,
Innovative and classical theories of catastrophes and
economic crises: Monograph / ed. Makogon Y. —
Donetsk : International Economics Department, Donetsk
National University, 2010.— 304 p.
Makogon Yu. V., Orekhova T. V. The
Investment Attractiveness Increasing Of Black Sea
Postsocialists Countries: Synergetic Approach
This article is devoted to the directions of investment
attractiveness increasing of Black Sea postsocialists
countries which are formed on the base of Donetsk
Investment Development Program with the usage of
synergetic forming approaches.
The offered approach of an estimation of investment
potential of cities and the specified directions of increase
of their investment appeal have universal character for
the majority of the postsocialist countries of Black Sea
Coast, considering rather similar characteristics of
conditions internal and external environments of their
development.
Key words: Synergetic, investment climate,
investment attractiveness, investment potential, Black Sea
postsocialists countries, Donetsk investment development
program
Макогон Ю. В., Орєхова Т. В. Зростання інве-
стиційної привабливості постсоціалістичних при-
чорноморських країн
Стаття присвячена напрямкам збільшення інвес-
тиційної привабливості постсоціалістичних причорно-
морських країн, що сформовані на основі Програми
інвестиційного розвитку міста Донецька з викорис-
танням синергетичних підходів.
Пропонований підхід оцінювання інвестиційного
потенціалу міст та зазначених напрямків збільшення
їхньої інвестиційної привабливості має універсальний
характер для більшості постсоціалістичних країн При-
чорномор’я.
Ключові слова: синергетичний, інвестиційний
клімат, інвестиційна привабливість, інвестиційний по-
тенціал, постсоціалістичні країни Причорномор’я, Про-
грама інвестиційного розвитку міста Донецька.
Макогон Ю. В., Орехова Т. В. Рост инвести-
ционной привлекательности постсоциалистичес-
ких причерноморских стран
Статья посвящена направлениям увеличения инве-
стиционной привлекательности постсоциалистичес-
ких Черноморских стран, которые сформированы на
основе Программы инвестиционного развития города
Донецка с использованием синергетических подходов.
Предлагаемый подход оценки инвестиционного
потенциала городов и указанных направлений увели-
чения их инвестиционной привлекательности имеет
универсальный характер для большинства постсоци-
алистических стран Причерноморья.
Ключевые слова: синергетический, инвестицион-
ный климат, инвестиционная привлекательность, ин-
вестиционный потенциал, постсоциалистические стра-
ны Причерноморья, Программа инвестиционного раз-
вития города Донецка.
Received by the editors: 29.10.2010
and final form in 01.12.2010
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