Regional dimension of investment system of the country transformation
В статті розглянуті концептуальні засади та методичні рекомендації прикладного характеру щодо трансформації інвестиційної системи країни у відповідності до сучасних вимог і стану розвитку вітчизняної економіки, в контексті її інтегрованості в світогосподарські зв’язки....
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irk-123456789-807112015-04-24T03:01:55Z Regional dimension of investment system of the country transformation Layko, A. Connecting systems В статті розглянуті концептуальні засади та методичні рекомендації прикладного характеру щодо трансформації інвестиційної системи країни у відповідності до сучасних вимог і стану розвитку вітчизняної економіки, в контексті її інтегрованості в світогосподарські зв’язки. 2013 Article Regional dimension of investment system of the country transformation / A. Layko // Економічні інновації: Зб. наук. пр. — Одеса: ІПРЕЕД НАН України, 2013. — Вип. 56. — С. 163-174. — Бібліогр.: 10 назв. — англ. XXXX-0066 http://dspace.nbuv.gov.ua/handle/123456789/80711 330.322.2 en Економічні інновації Інститут проблем ринку та економіко-екологічних досліджень НАН України |
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В статті розглянуті концептуальні засади та методичні рекомендації прикладного характеру щодо трансформації інвестиційної системи країни у відповідності до сучасних вимог і стану розвитку вітчизняної економіки, в контексті її інтегрованості в світогосподарські зв’язки. |
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Layko, A. |
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Regional dimension of investment system of the country transformation |
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Regional dimension of investment system of the country transformation |
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Regional dimension of investment system of the country transformation |
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Regional dimension of investment system of the country transformation |
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Regional dimension of investment system of the country transformation |
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regional dimension of investment system of the country transformation |
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Інститут проблем ринку та економіко-екологічних досліджень НАН України |
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Connecting systems |
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Regional dimension of investment system of the country transformation / A. Layko // Економічні інновації: Зб. наук. пр. — Одеса: ІПРЕЕД НАН України, 2013. — Вип. 56. — С. 163-174. — Бібліогр.: 10 назв. — англ. |
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Економічні інновації |
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AT laykoa regionaldimensionofinvestmentsystemofthecountrytransformation |
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2025-07-06T04:44:52Z |
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2025-07-06T04:44:52Z |
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1836871416487608320 |
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UDC 330.322.2
REGIONAL DIMENSION OF INVESTMENT SYSTEM
OF THE COUNTRY TRANSFORMATION
РЕГИОНАЛЬНЫЙ АСПЕКТ ТРАНСФОРМАЦИИ
ИНВЕСТИЦИОННОЙ СИСТЕМЫ СТРАНЫ
Alexander Layko
Лайко А.И.
В статті розглянуті концептуальні засади та методичні рекомендації
прикладного характеру щодо трансформації інвестиційної системи країни у
відповідності до сучасних вимог і стану розвитку вітчизняної економіки, в
контексті її інтегрованості в світогосподарські зв’язки.
The paper is dedicated to the conceptual framework and guidelines to the
application of transformation mechanisms for the investment system in the country
according to modern requirements and the state of the national economy, in the
context of its integration in the world economy. An approach to reforming of the
management of the investment process in the direction of supporting the development
of the industrial sector as a source of investments regeneration, and delegation of
effective state regulation of the investment process in the local (regional) level is
proposed. The decentralization of investments infrastructure is expected to use as a
catalyst for investment activities by simplifying and expediting of formal- permitting
procedures in the implementation of investment projects.
I. Introduction
Total economic growth and growth of the investments in Ukraine over the
past decade is insufficient for the expanded reproduction of society. Lack of financial
resources is felt in recent years particularly strong because of the impact of the effects
of global crises not only in our country but in most Eastern European countries and in
the 27 countries of the European Union, which makes the active search for ways to
improve the situation. These paths must be highly diversified, but based on the
classical principles of economic development. Correctly formed policy of state
regulation of the investment process is not the only source of creating and renewal
new resources for future development. From our point of view, investment activity
should now be directed to the development of the real sector of the economy and
should be somewhat distracted from the canons of pre-crisis years of the priority for
investments in highly profitable and thus attractive financial and infrastructure
sectors, is not already able to provide gain of real added value instead of nominal
money. For the countries of Eastern Europe, including Ukraine, often becomes an
obstacle discrepancy management systems investment structure their economic
systems, excessive centralization of government investment process also contributes
the inflows from new investors. Therefore the problem of investment activity
163 2013
Економічні інновації
Випуск 56
increasing should be considered from the standpoint of conformity investment overall
in economic structure of the country and at a basic level – as close to the actual
process of investment projects as possible.
The celerity of economic development and the challenge of the recent crisis
opens up new horizons and pose new challenges to researchers, despite the fact that
the acceleration of investment activity at the state and regional levels are well studied,
both domestic and foreign economists, scientists. However, the issue of regional
investment activity did not receive the proper application and solution because of the
lack of economic and financial power in the region.
The issue of regionalization of economic research comprehensively and on a
high scientific level considered in the works of Z. Gerasymchuk [1], M. Getmanchuk,
V. Semynozhenko, D. Stechenko, V. Reutov [2] and others. Problem of investment
activity regulation and development of methodological approaches to incentives for
domestic and foreign capital in the national economy are described in the works of
A. Amosha, B. Burkynskiy [3], V. Geets [4], O. Daciy [5], A. Peresada, V. Chizhova,
M. Chumachenko, A. Chukhno.
Approaches to the regionalization of economic development are researched
by such famous foreign economists like M.Porter, K. McConnell, M. Blumstrom, C.
Bru, S. Edwards, M. Lansbury, N. Payne [6], K. Smidkova and others.
However, full implementation of international experience to stimulate
investment in the regional economy is not possible because of the specific
characteristics and consequences of the global financial crisis that not only revealed
weaknesses of the domestic regulatory policy, but also demonstrated the absence of
some developed countries effective levers for development enhancement of their
economic systems and investments processes.
II. Formulation of the problem
Ukrainian economy with its stratification and regional sectoral specificity has
significant potential for future growth, but requires the effective regulatory policy,
able to create appropriate conditions for attracting new investments and their fast
renewal individually in each region and generally throughout the country. Growth of
investments is subject of effective reproduction of resources in the real economy. A
key element in the formation of an effective investment strategy in Ukraine is creation
of regulation system of reproductive processes in the commodity markets linked to
specific economic system of individual regions.
The consequences of the global financial crisis demonstrated inability of
subsidiary mechanisms of financial assistance to effectively promote economic
development. Required is systematic policy regulation of commodity markets, aimed
at creating favorable conditions for the reproduction of capital invested.
ІІІ. Results
Investment activity in the regions of Ukraine remains very low if been
compared to the needs in investments. The main indicators of economic development
of domestic economy has not yet reached a level that was in 1990 (table. 1).
Investment process in our country has not appropriate tendencies and the sum
of investments are too low for extended renewal of social production and for solution
of socially important problems. Even in case when the sum of investments grows the
structure of investments system does not develop and doesn’t change to better.
164
Економічні інновації
Випуск 56 2013
Table 1
Dynamics of the main indicators of economic development of Ukraine*
Year
GDP,
constant
2005y
prices
GDP,
current
prices
Per
capita
GDP
Average
world per
capita
GDP
Value
added
constant
2005y
prices
Value
added,
current
prices
Capital
investments,
constant
prices
1990y
Capital
invest-
ments,
current
prices
1990 137.4 90.2 1745.9 4208.5 134 79.1 16.1 no data
1991 125.4 85.2 1649.9 4332.1 121 93.9 15 no data
1992 113 78.6 1521.9 4567.9 100.4 83.8 9.4 no data
1993 96.9 68.9 1336.4 4580.7 81.2 74.1 8.5 no data
1994 74.7 54.2 1054.9 4825.9 66.5 51.7 6.6 no data
1995 65.6 48.6 950.7 5257 57 44.6 4.7 4.8
1996 59 44.6 877.6 5289.8 50.8 40 3.7 5
1997 57.2 50.2 996.1 5198.3 48.6 44.1 3.3 3.5
1998 56.1 41.9 840.0 5087.1 46.9 35.9 3.5 4
1999 56 31.6 639.7 5214.9 46.7 26.5 3.5 3.9
2000 59.3 31.3 639.4 5293.4 51.1 26.8 4.1 5.3
2001 64.8 38 784.5 5197 58.1 34.1 4.9 6.5
2002 68.2 42.4 882.5 5346.2 61.5 38.4 5.3 7.4
2003 74.8 50.1 1052.2 5932 67.9 45.8 7 10.2
2004 83.9 64.9 1372.4 6599.7 77 59.8 9 15.1
2005 86.1 86.1 1835.7 7056.9 77.3 77.3 9.2 18.6
2006 92.5 107.8 2312.7 7562.1 83 96.5 10.9 25.1
2007 99.8 142.7 3083.6 8420.4 90 130.1 14.1 37.7
2008 102.1 180 3913.5 9119 92.4 163.4 13.8 33.3
2009 87 117.2 2564.3 8532.5 80.8 108.8 8.1 19
2010 90.7 137.9 3034.9 9178.4 84.2 127.6 8 22.6
* – calculated according to UN statistics official data [7] and the State Statistics
Committee of Ukraine [8]
Nowadays stirring investment processes at the regional level through the
implementation of planned strategies for socio-economic development of the region,
and strategies to stimulate investment in the regions. In regional investment policy
national authorities undertake mainly traditional technical measures, such as public
information promotional activities, tax administration, regulation permit system,
proceedings of budget investments, nominal patronage of some socially significant
investment projects and similar standard measures that are most subsidiary character.
However, the formation of investment strategy should be done economically rational
way – namely, according to the laws of development of commodity markets. And the
165 2013
Економічні інновації
Випуск 56
task of the state in this process is to ensure efficient for the government, society and
business environment strategy of investment growth.
The restructuring of the economic system in Ukraine took part objectively, and
this development continues constantly. And according to this concept and the
objective economic laws the task of the state is to regulate the investment process in
order to get out of the crisis, to support the development of strategically important
economic activity, not only highly profitable, according to the largest share of funds
investors.
Regional dimension of the investment policy is crucial, because the existing
administrative system of distribution of powers between the central government and
the regions, and departmental subordination of most regulatory state agencies cannot
meet the needs of investors. Besides the process of economic restructuring and
economic regionalization objectively already started with the development of
business in Ukraine. So should the levers of state regulatory policy help effectively
run the process.
The general strategy of increasing investment activity in Ukraine is able to
establish basic principles for improving business conditions in all regions at all,
without detailed concretizations deductible and specifics of individual areas of their
cities and regions. However, taking into account the specifics are very necessary in
both strategic and operational aspects. Favorable conditions for farming should be
formed in certain regions on the basis of support for their economic specialization. To
control the investment of regional development in addition to spending more efficient
monitoring, control compliance management measures business conditions of the
region and promptly amend what can be done most effectively through our regional
programs or strategies.
Regional Investment development is influenced not only by instruments of
state regulation, but under internal subjective and objective external driving forces
regions. According to the spatial distribution of productive forces created cell
development in regions that need timely support and direct their development in
strategically correct for the local community and to society state channel. Justification
presence points of economic development in the regions in accordance with the
characteristics of spatial distribution of productive forces had in their works
representatives of the French school of regional analysis B. Perry and ZH.-R. Burvil
[9], forming a theory of regional economic growth poles. His continuation and
development of this theory is found in the works of V. Reutov [2], this doctrine
reoriented towards sectoral focus. Namely, in each region the leading industries are
allocated as the poles of economic growth in which both concentrate investment
resources because of their attractiveness to investors, dynamic development. The task
of government, in this case, is the selection of propulsive industries and the support of
their development.
However, it’s necessary to note that agriculture sector is one of former in the
economic system of the country and the region, although it has the administrative-
territorial division, still characterized by market structure. Therefore, it’s necessary to
offer a methodology for evaluating the effectiveness of the investment process, to
identify problem areas and concentrating on these regulatory measures, based on the
principle of allocation of regional segments of commodity markets. But the most
166
Економічні інновації
Випуск 56 2013
commodity markets, in this respect, given the role of the main institutions of the
market economy system, where a process of social production, the creation of added
value, which is a source of attraction and reproduction of investment resources.
Therefore, we believe that the investment strategy of intensification of regional
development should be concentrated on promoting sectors of the commodity market,
able to effectively play the invested capital by creating opportunities as possible for a
given commodity market sector value added. At the same time, should be considered
investment development in the context of each particular region or group of
geographically or economically related regions. Thus there is a need for a
combination of these two aspects of the study:
- Determination of the mechanisms and regulation of complex formation
regions and relevant regional strategies enhance investment development;
- Defining mechanisms to stimulate investment in commodity markets by
implementing strategic measures encouraging capital in the manufacturing sector,
which creates maximum added value compared to other market sectors that are the
source of reproduction of capital and its reinvestment.
We believe that these areas of investment activity: the path of regionalization
and the path of industrialization are implemented in parallel, rather than as two
alternative directions. But at the regional level in order to reflect local economic
specifics necessary consider conducting integrated research - namely, determining
trends in regional segments of commodity markets in order to develop regional
programs to stimulate investment in the industrial sector strategically important
commodity markets.
Commodity markets nowadays are That main institution that can provide
investment development and enhancement of capital invested. No need while trying
to attract foreign investment funds that are provided in exchange for certain interests
of foreign investors, but to promote their own manufacturing facilities. The benefits
of this are obvious: increase domestic investment resources, creating your own value
added as a source of employment and wages, pensions and other social guarantees of
demand in the domestic market of new equipment and facilities, ensuring a profit and
pay taxes in the budget that will be used implementation of social problems.
Therefore, a key issue in the investment processes is to ensure sound financial basis
for the development of productive sectors commodity markets.
Financial support for the reproductive processes in the commodity markets
should be considered as in terms of specific sectors, and in terms of components
created added value. An added value embodied in the finished product provides play
production capacity, costs for labor, invested capital investor, and provides tax
revenues and social funds state.
According to the pricing structure, the structure created by the added value we
offer to apply a number of factors characterizing the intensity of reproduction of
capital invested in the development of markets for goods, works and services. This
approach we feel justified in view of the fact that over 60% of capital investment in
Ukraine and each region at the expense of own funds of enterprises, and this is, in
fact, capital reinvestment, combined in the economic process.
We propose the following classification of intensity factors play capital
invested in commodity markets:
167 2013
Економічні інновації
Випуск 56
1) The reproduction of fixed assets:
1.1) The coefficient of fixed assets update
К𝐹𝐴 𝑢𝑝𝑑𝑡 =
𝐹𝑖𝑥𝑒𝑑 𝑎𝑠𝑠𝑒𝑡𝑠 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝑓𝑖𝑥𝑒𝑑 𝑎𝑠𝑠𝑒𝑡𝑠 𝑐𝑜𝑠𝑡
. (1)
1.2) Reproduction rate of fixed assets (ratio shows an increase in value of new capital
to increase the amount of accumulated depreciation)
К𝐹𝐴 𝑟𝑒𝑝𝑟 𝑟𝑎𝑡𝑒 =
𝐹𝑖𝑥𝑒𝑑 𝑎𝑠𝑠𝑒𝑡𝑠 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
𝑆𝑢𝑚 𝑜𝑓 𝑓𝑖𝑥𝑒𝑑 𝑎𝑠𝑠𝑒𝑡𝑠 𝑖𝑛𝑐𝑜𝑚𝑒
. (2)
1.3) Reproduction rate of investment in fixed capital (depreciation shows the ratio
that represents a sum of financial support playback of depreciation in the price of
goods to the amount of invested capital)
К𝐹𝐴 𝐼𝑛𝑣𝑒𝑠𝑡 𝑟𝑒𝑝𝑟 =
𝐷𝑒𝑝𝑟𝑒𝑐𝑖𝑎𝑡𝑖𝑜𝑛
𝐹𝑖𝑥𝑒𝑑 𝑎𝑠𝑠𝑒𝑡𝑠 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
. (3)
2) Reproduction rate of human capital:
К𝐻𝐾 𝑟𝑒𝑝𝑟𝑜𝑑 =
𝑊𝑎𝑔𝑒𝑠 𝑓𝑢𝑛𝑑
𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
. (4)
3) Reproduction rate of business capital (in fact it is the formula for calculating return
on investment):
К𝐵𝐾 𝑟𝑒𝑝𝑟𝑜𝑑 =
𝑁𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡
𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
. (5)
4) Reproduction rate of social security funds:
К𝑆𝑆𝐹 𝑟𝑒𝑝𝑟𝑜𝑑 =
𝑆𝑜𝑐𝑖𝑎𝑙 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦 𝑓𝑢𝑛𝑑𝑠 𝑑𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛𝑠
𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
. (6)
5) Coefficient of budget payments (this rate we will not classify as reproduction rate
because the funds listed in the budget are excluded from economic circulation):
К𝐵𝑃 𝑝𝑟𝑜𝑣𝑖𝑠𝑖𝑜𝑛 =
𝐷𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛𝑠 𝑜𝑓 𝑡𝑎𝑥𝑒𝑠 𝑏𝑢𝑑𝑔𝑒𝑡
𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
. (7)
6) Integral coefficient of investment renewal (this is actually the total rate of return on
investment):
К𝐼𝑛𝑡𝐼𝑛𝑣𝑒𝑠𝑡𝑅𝑒𝑛𝑒𝑤𝑎𝑙 =
𝑊𝑎𝑔𝑒𝑠
𝑓𝑢𝑛𝑑 + 𝑆𝑜𝑐.
𝑒𝑛𝑠. + 𝐷𝑒𝑝𝑟𝑒 −
𝑐𝑖𝑎𝑡𝑖𝑜𝑛 + 𝑃𝑟𝑜 −
𝑓𝑖𝑡 + 𝑇𝑎𝑥𝑒𝑠
𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠
. (8)
168
Економічні інновації
Випуск 56 2013
According to the proposed system of coefficients considered it is appropriate to
analyze the intensity and reproduction of capital invested in major markets on the
example of the Odessa region (Table 2). This calculation, in our opinion, would be
more objective if it is done according to averages over several years.
Table 2
Estimation of the financial investment playing in major markets
of Odessa region in the years 2006-2010*
Markets Capital
invest-
ments
Depreciation Wages
funds
Soc.
insurance
deductions
Profit of
profitable
entities
Tax
incomes of
budget
mln.
hrv.
К
upd.
mln.
hrv.
К
upd.
mln.
hrv.
К
upd.
mln.
hrv.
К
upd.
mln.
hrv.
К
upd.
Transport &
communica-
tions services
market
1999,8 1290,8 0,6 2801,1 1,4 1032,7 0,5 2137,7 1,1 1327,7 0,7
Agricultural
products
market
330,1 108,5 0,3 285,8 0,9 66,6 0,2 354,4 1,1 45,2 0,1
Wholesales,
retailing and
domestic
services
market
596,0 194,0 0,3 549,7 0,9 199,8 0,3 557,9 0,9 540,1 0,9
Foods
products
market
351,1 187,8 0,5 339,6 1,0 120,6 0,3 138,1 0,4 131,6 0,4
Chemical
and oil-
products
market
109,8 96,1 0,9 201,1 1,8 72,1 0,7 483,0 4,4 87,2 0,8
Machinery
market 97,5 75,5 0,8 238,4 2,4 93,0 1,0 85,7 0,9 72,2 0,7
Construction
s and real
estate’s
market
2195,0 433,5 0,2 379,9 0,2 340,2 0,2 214,2 0,1 243,1 0,1
Markets of
other goods
and services
3993,0 399,3 0,1 1437,3 0,4 304,7 0,1 865,3 0,2 841,3 0,2
Total: 9672,3 2785,5 0,3 6232,9 0,6 2229,7 0,2 4836,1 0,5 3114,0 0,3
* – calculated according to the Central Statistical Office in Odessa region [10]
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Reproduction coefficient take values greater than or less than unity, which
indicates whether an equity reproduce on certain items of expenditure for the chosen
period.
The calculation results show that the fastest return on invested capital through
financial flows in the markets is by such items as wages and profits. Return on
invested capital over labor, in our opinion, provides legal regulation and periodicity
of mandatory payment of wages.
At the same time in any of the markets for the year does not recover the cost
of capital invested in fixed assets. Judging by the size of the overall weighted average
intensity recovery current assets equal to 0.3, it can be argued that in the Odessa
region on the average, non-current assets entities are updated once about 3.5 years. At
the same time, in some markets (transport services, chemical and engineering
products) the level of tax burden is enormous and almost catches up with the volume
of annual investment. This suggests two possible solutions to the problem: either to
reduce the tax burden, or accelerated flow of capital by other means (such as
improving infrastructure software markets).
Agricultural production has attracted attention because it has low rates of
capital renewal and maintenance budget is characterized by low tax payments.
In our study, we pay special attention to the state of reproductive processes in
the markets of agricultural products and food products, as these types of economic
activity is a priority for development in the Odessa region through objective climatic
conditions through the provision of appropriate infrastructure, but also because of the
possibility of achieving significant growth in the short term. On the other hand the
need to develop effective measures of intensification of production on the basis of
renewal of agricultural market reproduction processes due to the declining of
economic activities. Therefore, the true emphasis placed on the development of
commodity markets and sectors of the commodities markets will attract investment
resources in strategically important areas of management and get effective returns.
To ensure active development of regional segments of commodity markets is
a necessary strategy for regional development investment, which include the
following key provisions:
- Providing of maximum financial and economic independence of the
regional bodies that supervise and accompany the investment process;
- Personal responsibility of officials for performance support investment
activities;
- Maximum consistency issues on the project at the regional level through
management companies and investment development departments;
- Ensuring of favorable conditions for the development of productive sectors
commodity markets specifying the specific measures for regional segments of
commodity markets;
- The maximum possible consideration of specific entities in each region in
the regulation of activities, including in the field of taxation.
IV. Conclusions
The process of economic development occurring independently of subjective
desires, but somehow they have to be regulated to ensure a society desired effects.
The control system of the investment process in Ukraine can be roughly divided into
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central portion for administrative and regional basis, each of which is usually in the
preparation of medium-term strategies or programs on the basis of policy planning
and in their future performance.
We proposed an approach to managing the investment process not only in
terms of administrative-territorial units, but also in terms of markets for goods and
services, allowing focus on the support and development of production sectors of
commodity markets, which creates maximum value added necessary to Play invested
resources. The focus, in our opinion, should not be given to attracting new financial
resources from different sources, and create favorable conditions for the reproduction
of capital invested in those commodity markets and in their sectors that are
strategically important to the future economic growth of the country, the region, to
strengthen the position in international commodity markets.
Regionalization process research and regulation of commodity markets as a
medium for investment strategies are also necessary, but not always possible to
conduct studies of reproductive processes in the commodity markets in regional
segments for the reason that most commodity markets are integrated in the processes
of regional and international economic exchange and their scope is much broader than
the territorial boundaries of the region. Therefore, we offer a methodical approach to
evaluating the possibility of investigating regional segments of commodity markets
and then develop regulatory measures to enhance the reproduction of capital in the
strategically important region for economic activities. Detailing the structure study of
reproductive processes in regional segments commodity markets held us in terms of
the basic elements of pricing and product structure of value added, since this is the
estimate of the items require special attention and create measures to enhance play in
the regional market segment cost of the fixed assets at wages and so on.
This methodological approach was tested on the example of the Odessa
region and studied the major markets of goods and services. The choice of such
markets carried us on the criterion contribution of each market in gross output or
gross value added in the region.
On the basis of this sample we have selected strategically important for the
economy of the Odessa region markets for goods and services, namely: the market for
transport services and communication market of agricultural production, market sales,
repair and other public services, the market of food production and processing
sыlskohospodarskyh products, market products of chemical and petroleum
production, market production engineering, construction and services market
operations with real estate, the market for other goods and services.
The offered system of estimation of value added elements renawal intensity
allows to playback the rate of value-added components, identify the problem for the
regional segment of commodity market place and to formulate certain regulatory
measures.
Thus, special attention should be paid value added items such as salaries and
depreciation as at their expense, not only supported the further development of production,
testing his equipment, but also the emerging market demand for consumer goods.
The general approach of transforming the management of the investment
process reduces us to combine approaches from regional perspective of mezzo-
economical subsystems functioning of the national economy, as well as consideration
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of the functioning of individual commodity markets. Regional strategy to stimulate
investment, the author's opinion, should contain besides general measures of
promotion of knowledge about investment opportunities in the region and to improve
the business environment also leverages enhance reproductive processes in some
sectors the most important commodity markets. Offered system weightings intensity
play elements added value allows you to identify problem areas in the development of
commodity markets at the level of individual components created added value.
We offer strategic measures to enhance the investment process include both
elements of regionalization of management and control elements of the reproductive
processes in the market segments in the region. Namely, the regionalization measures
include proposals to provide maximum financial and economic independence of the
regional bodies that supervise and accompany the investment process, the
introduction of the personal responsibility of officials for performance support
investment, creating conditions for maximum consistency issues on the project at the
regional level with management companies and investment development departments.
Measures to support the development of regional segments of the commodity markets
are as much as possible taking into account the specifics of management in each
region in the regulation of activities, including in the field of taxation.
Referenses
1. Gerasymchuk Z.V., Podernya-Masyuk Y.A. Economical essence of
regional infrastructure investment. Electronic resource. Mode of access:
(http://www.nbuv.gov.ua/portal/soc_gum/en_re/2008_5_2/zbirnuk_RE_2_6.pdf).
2. Reutov V.E. Regional dimension of structural changes in the economy of
Ukraine. Electronic resource. Mode of access: _ (http://www.nbuv.gov.ua/portal/
soc_gum/dtr/ep/2010_2/files/EC210_37.pdf).
3. BurkynskiyB.V., Harichkov S.K. Politics of mobilization of region
integrated resource. – Odessa: IMPEER of NAS of Ukraine, 2002. – P. 96-152.
4. Priorities for national economic development in the context of
globalization challenges: monography: in 2 parts. Part 2 / V.M. Geyts, A.A.
Mazaraki. – Kyiv: Kyiv. – Econ. University Press, 2008. – 273 p.
5. Daciy O.I. Areas of public policy to encourage investment in the regions.
Electronic resource. Mode of access: _ (http://www.nbuv.gov.ua/portal/Soc_Gum/Nrzd/
2011_2/5.pdf).
6. Marshall A. Principles of Economic Science / Marshall A. – M.: Progress
"Unyvere", 1993. – Vol. 2. – 994 p.
7. United nations statistics division. National accounts main agregates
database. Electronic resource. Mode of access: _ (http://unstats.un.org/unsd/
snaama/selbasicFast.asp).
8. State Statistics Service of Ukraine. Investments in fixed capital 1995-
2011. Electronic resource. Mode of access: _ (http://www.ukrstat.gov.ua/operativ/
operativ2005/ibd/ibd_rik/ibd_u/iok_u.htm).
9. Klevtsova M.G. The regional polarization: sectoral and territorial aspects.
Electronic resource. Mode of access: _ (www.klgtu.ru/students/vestnik/2011/I.22.doc)
10. Department of Statistics in the Odessa region. Investment in fixed assets
by source of funding (2002-2011.). Electronic resource. Mode of access: _
(http://www.od.ukrstat.gov.ua/stat_info/invest/invest6.htm).
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http://www.nbuv.gov.ua/portal/soc_gum/en_re/2008_5_2/zbirnuk_RE_2_6.pdf
http://www.nbuv.gov.ua/portal/%20soc_gum/dtr/ep/2010_2/files/EC210_37.pdf
http://www.nbuv.gov.ua/portal/%20soc_gum/dtr/ep/2010_2/files/EC210_37.pdf
http://www.nbuv.gov.ua/portal/Soc_Gum/Nrzd/%202011_2/5.pdf
http://www.nbuv.gov.ua/portal/Soc_Gum/Nrzd/%202011_2/5.pdf
http://unstats.un.org/unsd/%20snaama/selbasicFast.asp
http://unstats.un.org/unsd/%20snaama/selbasicFast.asp
http://www.ukrstat.gov.ua/operativ/%20operativ2005/ibd/ibd_rik/ibd_u/iok_u.htm
http://www.ukrstat.gov.ua/operativ/%20operativ2005/ibd/ibd_rik/ibd_u/iok_u.htm
Аннотация
Повышение уровня благосостояния общества и преодоление
последствий кризисных явлений требуют новых финансовых ресурсов,
основным источником которых, на современном этапе развития, должны быть
не внешние капиталовложения, а процессы воспроизводства отечественного
капитала в промышленном секторе товарных рынков. Темпы экономического
роста и инвестиционная активность в Украине за последние десятилетия
являются недостаточными для расширенного воспроизводства всего общества.
Нехватка финансовых ресурсов ощущается в последние годы особенно остро
из-за влияния последствий глобальных кризисных явлений не только в нашей
стране, но и в большинстве стран Восточной Европы и 27 странах Европейского
сообщества, принуждает к активному поиску путей улучшения ситуации. Такие
пути должны быть крайне диверсифицированными, однако базироваться на
классических принципах развития экономики. Верно сформированная политика
государственного регулирования инвестиционным процессом является
источником создания и воспроизводства новых ресурсов для будущего
развития. По нашему мнению, инвестиционная деятельность теперь должна
быть направлена на развитие реального сектора экономики и должна несколько
отвлечься от канонов предкризисных лет по приоритетности капиталовложений
в высокорентабельный и этим привлекательный финансово-инфраструктурный
сектор, способный обеспечивать номинальный прирост денег, а не реальной
добавленной стоимости. Для стран Восточной Европы, в том числе и Украины,
становится коллизией несоответствие систем управления инвестиционным
процессом типу и структуре сформировавшихся экономических систем,
чрезмерная централизированность системы государственного управления
инвестиционным процессом также не способствует приходу новых инвесторов.
Поэтому проблему повышения инвестиционной активности предлагается
рассматривать с позиций соответствия системы капиталовложений общему
экономическом строю страны и на базовом уровне – максимально
приближенном к процессу реализации инвестиционных проектов.
Несмотря на достаточно полную и комплексную исследованность
вопросов регулирования процессов капиталовложений, в том числе, на
региональном уровне, необходимость в разработке действенных механизмов
регулирования воспроизводственных процессов в региональных сегментах
товарных рынков в качестве инструментов повышения инвестиционной
активности ощущается довольно остро из-за влияния кризисных явлений.
Нами предлагается подход к управлению инвестиционным процессом не
только в разрезе административно-территориальных образований, но и в
разрезе рынков товаров, работ, услуг, позволяющий проводить поддержку и
развитие производственных секторов товарных рынков, в которых создается
максимальная доля добавленной стоимости, необходимой для воспроизводства
инвестированных ресурсов. Главное внимание, на наш взгляд, должно уделяться
не привлечению новых финансовых ресурсов из различных источников, а
созданию выгодных условий для воспроизводства инвестированного капитала в
тех товарных рынках и в их секторах, которые являются стратегически
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важными для будущего экономического роста страны, региона, для укрепления
позиций на международных товарных рынках.
Общий подход к трансформации системы управления инвестиционным
процессом сводится нами к объединению подходов по учету региональных
особенностей функционирования мезо-экономических подсистем в национальной
экономике, а также учета особенностей функционирования отдельных товарных
рынков. Региональные стратегии активизации инвестиционной деятельности,
по мнению автора, должны включать в себя кроме общих мероприятий по
продвижению знаний об инвестиционных возможностях региона, по улучшению
условий ведения бизнеса также рычаги активизации воспроизводственных
процессов в отдельных секторах наиболее значимых товарных рынков.
Предлагаемая нами система коэффициентов оценки интенсивности воспроизводства
элементов добавленной стоимости позволяет выявлять проблемные места в
развитии товарных рынков на уровне отдельных составляющих создаваемой
добавленной стоимости.
Предлагаемые нами стратегические меры по активизации инвестиционного
процесса включают в себя как элементы регионализации управления, так и
элементы регулирования воспроизводственных процессов в рыночных
сегментах региона. А именно, к мерам регионализации можно отнести
предложения по предоставлению максимальной финансово-экономической
независимости региональным органам власти, которые контролируют и
сопровождают инвестиционный процесс, внедрение личной ответственности
должностных лиц за результативность сопровождения инвестиционной
деятельности, создание условий для максимальной согласованности вопросов
по инвестиционным проектам на региональном уровне при помощи управляющих
компаний и департаментов инвестиционного развития. Мероприятия по
поддержке развития региональных сегментов товарных рынков заключаются в
максимально возможном учете специфики хозяйствования в каждом отдельном
регионе в сфере регулирования деятельности, в т.ч. в сфере налогообложения.
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