Relevance of the study is due to the need to implement tools of strategic municipal management in local self-government authorities in order to successfully complete the reform of decentralization. Foreign experience testifies that one such tool is the Balanced Scorecard (BSC) of Kaplan and Norton, which was evolved from a performance management tool for business to a dominant system of strategic management in the public setor. This tool allows use of non-financial indicators, take into account social aspects and environment as well as manage risks under uncertainty. The article argues that the BSC implementation in local self-government authorities will ensure the solution of the following tasks: 1) aligning the strategic and tactical goals with measures for their implementation; 2) increasing the institutional capacity of authorities (through development and motivation of personnel, formation of innovative organizational culture, introduction of performance management system, improvement of internal processes, development of information systems); 3) increasing the transparency and stakeholders confidence, in particular foreign investors, to attract financing in the post-war period. It was found that the structure of the BSC model and the algorithm of its implementation depend on the field of activity, size, tasks and features of the organization. An algorithm for developing the BSC model of the city council executive committee (its structural unit for the pilot project implementation) is proposed and the main strategies for the four components of this model (stakeholders, finance, internal processes, training and development) are identified. Based on the experience of Canada, Denmark, the Czech Republic and other countries, the main advantages, conditions of success and challenges of implementing the BSC concept in local self-government authorities are identified, taking into account political, organizational, financial and other aspects. It is proposed to define the ways to solve considered challenges using the design thinking methodology.
І. М. Грищенко, Yurii Bondar, Svitlana Serohina, Ірина Бодрова · 5 authors
Decentralization is a common component of public finance development and reform strategies through efficiency, better governance and accountability. It has become particularly important for the local governments to recognize and test policies and practices that promote building the capacity of local communities by revealing their latent potential. The aim of the article was to identify and describe the current state of the decentralization process in Ukraine and in the EU, the problems and achievements of local communities. Observation and comparison were the leading methodological tools. The research found that the effective development of territorial communities of Ukraine requires further implementation of the relevant regional strategic planning of the European Union. The appropriateness and prospects of the LEADER/CLLD approach in the form of cooperation and partnership between urban and rural areas were established. Fiscal decentralization as a basic factor on the way to improving the level of regional development was determined through a comparative analysis of the factors of positive dynamics of development of territorial communities in the EU and Ukraine. A comparative analysis of the practice of Ukraine and EU countries in the implementation of LEADER/CLLD projects in the context of building the capacity of local communities by revealing their latent potential is a promising vector of further research.
The subject of the study is theoretical aspects and practical proposals regarding the strategic directions of development of enterprises and institutions of social infrastructure in the countryside under conditions of decentralization. The purpose of the article is to substantiate the theoretical principles and practical recommendations regarding the directions of development and increasing the efficiency of the functioning of enterprises of the social infrastructure of rural territorial communities in conditions of decentralization. The methodological basis of the article is the methods and approaches of economic, institutional and theory of sustainable development. In particular, historical, monographic, economic comparisons, statistical-economic, systemic-structural analysis and synthesis were used. Results of the article. As a result of the research, it was found that the main problems of the enterprises of the socio-cultural sphere, respectively, and the strategic directions of development relate to the optimization of their placement and ensuring operation and proper maintenance; expansion of the range of services and their optimization and new forms of provision; development of new sources of financing, motivation of personnel and intensification of community cooperation in socio-cultural activities. The directions of the development of educational institutions relate to improving the quality of educational services, improving the content and organization of training, financing, including and on the principles of implementing the "New Ukrainian School" concept; ensuring budgeting and filling of preschool education institutions with children; increasing the prestige and preserving the network of professional (vocational and technical) education institutions on the basis of duality of education, improving educational programs in cooperation with employers. The directions of development of medical institutions in the village relate to the spread of family and insurance medicine; improvement of primary medical care forms; introduction of innovations in all types of services and financial income "according to the patient". Field of application of results. Conclusions and practical recommendations can be used in the activities of social infrastructure enterprises; business and public organizations; territorial communities and their leadership; the educational process of institutions of secondary special and higher education. Conclusions. A comprehensive analysis of the problems of the development of enterprises and organizations and institutions of the main sectors of social infrastructure in the village (socio-cultural, educational, medical) made it possible to come to the conclusion that they were and in many cases remain acute and require an urgent solution; have different manifestations in accordance with sectoral and territorial characteristics; depend on the effectiveness of the management decisions of the management, community specialists, and the active civic position of all their members. Meanwhile, it is decentralization that allows them to be solved most productively, systematically and in a short time. The financial resources and authorities available to communities already provide and can provide in the future the main strategic directions of the development of social infrastructure enterprises: optimization of the number, placement and capacity of institutions and forms of service provision; introduction of innovations directly into the main activity, management and organization, investment and their modernization.
The importance of the study of the united territorial communities functioning and the identification of the main problems of organizational support of local budget management are substantiated. It has been studied that the issues related to the development of organizational support of local budget management are insufficiently researched in the domestic scientific literature. The paper clarifies that the decentralization of government should ensure the democratization of society, combine administrative, political, fiscal decentralization and involves the transformation of the interaction between governmental agencies and citizens, NGOs and businesses. The regulatory framework for the reform process is provided. Problems of united territorial communities development are identified. One of the first of them is the problem of proper implementation of the territorial community functions, which is intertwined with the filling of the UTC budget, the formation of financial resources sufficient to adequately finance the urgent social needs of communities based on the principle of subsidiarity, implementation of their economic and technological development. Conditions for the formation of able-bodied territorial communities are provided. The own and delegated powers of the united territorial communities in Ukraine are studied. The factors and subjects of ensuring the financial capacity of territorial communities are singled out and generalized. As a result, the well-established interaction of the subjects of financial relations under the influence of both external and internal factors will help meet the legitimate needs and interests of local communities. The basic legislative bases of the mechanism of voluntary association of territorial communities are generalized. It is determined that the current state of local budgets does not seem to be the best, which hinders the complex tasks assigned to local authorities: scarcity of their own sources of income, almost complete dependence on the state budget, lack of transparency of budgetary relations in providing financial assistance from the center, additional assistance revenues and economic expenditure of budget funds. According to the analysis conducted by the authors, a set of problems of organizational support of local budgets is proposed.
Traditional agricultural product traceability system adopts centralized storage, and the traceability process is solidified, which results in the low reliability of traceability results and the poor flexibility of the system. Aiming to solve this problem, blockchain technology is applied to supply chain traceability, and a supply chain traceability system based on sidechain technology is proposed. Goods management, information sharing, and product traceability in supply chain are realized through Ethereum smart contract. The sidechain technology is adopted to expand Ethereum so that it can meet the needs of practical applications. The experiment results show that the proposed system has a transaction function and information sharing function. Compared with similar trading systems, the proposed system has more advantages in throughput and security.
The public finance sector plays a special role in the functioning of the financial system. A significant part of the funds is accumulated and redistributed through state and local budgets. At the same time, the formation of budget expenditures of all levels, their structure, determine the state and opportunities for the state to perform its functions, which is manifested through the structure of budget expenditures according to functional classification, as well as the distribution of funds to ensure current needs and capital expenditures, and its social orientation - through the structure of expenditures for economic classification. At the same time, the state of formation of budget expenditures at different levels is characterized by structural imbalance, so the article evaluates the formation of state, local, and consolidated budget expenditures according to economic and functional classification. The method of structural-dynamic analysis was used during the research and integral coefficients were calculated - linear and quadratic coefficients of structural shifts, integral coefficients of Gatev and Salai, which made it possible to substantiate the state of unbalanced budget expenditures of all levels. For the study, the period from 2015 to 2021 was taken on a quarterly basis, separately according to the expenses of the economic classification and according to the expenses of the functional classification of the state, local and consolidated budgets of Ukraine. In contrast to existing approaches, this study takes into account the peculiarities of the formation of expenses, which are associated with their quarterly fluctuations. It is substantiated that the structure of expenditures according to the economic classification of state and local budgets is unstable. The calculation of integral coefficients made it possible to draw a conclusion about the significant intensity of structural shifts, which indicates the absence of a consistent budget policy, since it, in turn, is based on the consistency of the economic policy implemented in Ukraine. The imbalance of expenditures by functional purpose, compared to the structural imbalance of expenditures by economic classification, is much smaller. The obtained indicators proved the process of redistribution of cash flows between budget levels as a result of reforms in Ukraine, related to decentralization and redistribution of powers between the national and local levels.
Introduction. The decentralization processes have updated the need to solve two interdependent tasks: to substantiate the role of local governments in meeting the needs of the population and thus determine public goods that have to be secured at the level of territorial communities, regions, and the country and sources of financial resources for their provision; to outline the ways of territorial communities’ development in a long run and achievement of their self-sufficiency as an efficiency criterion of administrative-territorial reform. For that matter, the substantiation of theoretical foundations of territorial communities’ self-sufficiency is an important scientific task. The purpose of the article is to substantiate the theoretical foundations of territorial communities’ financial self-sufficiency and determine its place in the structure of communities’ self-sufficiency. Methods. The methods of dialectical analysis, synthesis, and logical generalization, as well as comparison and formalization, were used in the research. Results. The nature of the territorial community concept is defined and its economic features are outlined. The theoretical foundations of territorial communities’ financial self-sufficiency are examined and on this basis, the definition is interpreted considering the interrelated concepts of socio-economic systems’ self-sufficiency and territorial communities’ self-sufficiency. A territorial community is financially self-sufficient if its financial system is characterized by self-reliance in conditions of vertical integration into the system of public finance, and if it is capable to maintain and/or improve the achieved development level and secure normativity of providing social goods to the population due to efficient use of financial tools under the impact of external and internal factors. The paper emphasized the role of vertical integration of the community’s financial system with the system of public finance and the top priority of internal capacity to develop in the community for achievement of financial self-sufficiency. It also substantiates the need to determine the normativity of public goods provision to the population in the process of the use of financial tools.
The purpose of this article is to develop and substantiate a conceptual and analytical model of the structure of energy generation and consumption at the local level in the context of the decentralisation reform in Ukraine on the basis of an analysis of current world-wide and European trends as to ensuring a sufficient level of energy efficiency. The current trends of world energy consumption are illustrated, the forecast for the development of renewable energy is built, the energy efficiency analysis of the national economy is carried out. In order to form a holistic system of energy management on the local grounds, a model of generation and consumption for use at the local level is proposed, the financing of which is provided for by the results of the use of a comprehensive mechanism. A number of normative and organizational-institutional proposals on the normalization of energy efficiency improvement processes are suggested. The factors of energy efficiency of this model, financial instruments for its effective functioning in the form of a mechanism of interest-making budget revenues and specialized funds are disclosed; organizational and institutional support of such reform is proposed; the functional dependence of the target function of the model of energy generation and consumption is detailed, taking into account the methods of generation and the main consumers at the appropriate levels. The analysis of the main risks is carried out and the flaws of this process are defined; a number of regulatory and institutional transformations are proposed to improve the effectiveness of the implementation of an effective policy of energy efficiency of hromadas thus ensuring the energy security of the State. It is recognized as expedient to adopt a package of bills and resolutions on energy cooperation, organization of a biofuel exchange. The model of organization and functioning of a cooperative for the generation and consumption of solar energy, which is based on the regulatory framework, is presented. The above mentioned allowed to develop scientific and applied recommendations for improving regulatory provisions, which will enable the hromada to become an effective player in the wholesale electricity market, marketing the energy according to the green tariff.
Objective. The objective of the present article is to identify the benefits and risks of stablecoins for the financial stability of sustainable development. Methods. In the research process, the following general scientific methods and techniques of cognition were used: methods of scientific abstraction, analysis and synthesis (to study the essence of decentralized finance, stablecoins), systematic generalization (to systematize the categorical apparatus of decentralized finance research, to determine the essence of stablecoins and their types, the positive aspects of stablecoins, highlighting the risks of using stablecoins, measures to reduce the risks associated with their use). Results. Based on the results of the conducted research, the essence and types of stablecoins, the advantages and disadvantages of stablecoins by category were determined; the advantages of stablecoins (reliable, transparent, secure decentralized structure, low volatility, technical and physical security against manipulation, automatic execution of contracts, no need for an element of trust, reduction of the cost of transactions when increasing their speed, protection of capital from market instability, use by traders and investors for hedging risks, protection against high inflation rates, automation and lack of regulation, economic efficiency); the risks of using stablecoins are highlighted (market risks (vulnerability to the volatility of the crypto market), liquidity risks, cyber risks (asset theft, undermining the reputation of platforms, which can lead to withdrawal of funds by depositors), money laundering and terrorist financing risks, legal and legal uncertainties; the issue of regulation is considered stablecoins; measures to reduce the risks associated with the use of stablecoins are defined.
Active use of virtual electronic information environments – metaverses is the most perspective way of information and communication technologies development. In the meta-environment, traditional accounting objects undergo significant changes due to their intangible interpretation, which requires improving their accounting and auditing reflection. Accordingly, the purpose of this study is to improve the methodology and organization of accounting and auditing in the metaverse in terms of identification, recognition, and reflection in the accounting system of non-current intangible assets, goodwill of IT companies, NFT (non-fungible tokens), cryptocurrencies, sales costs and other objects in the meta-environment. To implement the purpose of scientific research, systemic, innovative, and institutional approaches and economic and mathematical modelling, bibliographic and comparative analysis have been used. Given the significant public distrust and active threats in the digital business, the need to introduce an audit in the metaverse to ensure the reliability, integrity, and legitimacy of information flows is justified. The possibility of recognizing from the standpoint of accounting and auditing of all virtual tools and objects of work that carry out the cycle in the meta-environment in the form of NFT, assets due to: uniqueness and separation from other accounting objects; opportunities for free purchase (sale) in the meta space, potential economic value in the case of retention and accumulation; reliable determination of value based on costs, sales contract or expert (market) assessment. It is proposed to classify NFT according to the criterion of useful life on non-current and current assets with the appropriate reflection in the composition of non-current and current intangible assets. The prospects of personalized marketing promotion of products (goods, services) in the metaverse with separate accounting of costs for the sale of tangible and intangible objects to ensure the reliability, analytical, and comparability of accounting information have been defined. As a result, a conclusion was formed on the expediency of transforming the reporting structure of meta-environment enterprises in terms of increasing the share of intangible assets and the potential absence of any tangible assets in terms of the full transfer of financial and economic activities in a virtual environment. The order of structuring the reporting of the enterprises of the metaverse needs further research.
The decentralization of finance in the context of reform of local self-government in Ukraine needs the improvement of the tax system i.e. the optimal allocation of taxes between the local and state budgets. The purpose of this research is to enhance the existing experience of budget decentralization with the identification of the practical results of the decentralization reform and its impact on the local territorial communities in Ukraine. The article examines and summarizes the current experience of budget decentralization in Ukraine and the results of the reform, as well as their community impact. The main focus of the study is on the principles of tax policy implementation in terms of taxes and fees credited to local budgets. The purpose of the study is to optimize the tax mechanisms for filling local budgets in Ukraine. The article examines the state of filling local budgets and its impact on socio-economic development of the community. It is determined that the basis of revenues are tax revenues, the share of which is growing every year. The reform resulted in increased interest of local governments in increasing revenues to local budgets, finding reserves to fill them, improving the efficiency of administration of taxes and fees. Thus, the main budget-forming tax is the personal income tax, which in the amount of 60 percent is credited to the budgets of rural, township, urban territorial communities. In its turn, the positive dynamics is the reduction of intergovernmental transfers. Increasing the dependence of local budgets on personal income tax and own local taxes is a positive consequence of the implemented budget reform. According to the results of the study, the directions of optimizing the use of tax instruments in filling local budgets are substantiated. One of the crucial conditions for creating a highly developed market economy is the formation of local self-government as an effectively functioning part of the public sector.
One of the main tasks of financial and economic policy of industrial enterprises is to create conditions for their sustainable development through the use of modern management tools that will promote the balance between resources and potential of enterprises. In particular, such a tool is management methods based on forms of interaction between the state and business in the framework of public-private partnership. The problem of managing sustainable development of industrial enterprises on the basis of public-private partnership, their financial support is covered in the works of such researchers and specialists as I. Ansoff, K. Bowman, P. Drucker, D. Cleland, G. Mintzberg, J. Strickland, A. Thompson, F. Berger, V. Varnavsky, M. Gerard, T. Crystal, A. Reid, T. Voronkova, E. Savas, L. Sharinger and other domestic and foreign authors. Recently, disparities in the gradual dynamics of the formation of financial resources within the state are obvious: revenue sources are centralized only at the state budget level, revenue liabilities are decentralized to the regional and local levels. The greatest impact on the financial autonomy of an industrial enterprise has the amount of own budget revenues, in particular its share in total consolidated revenues. Inter-budgetary transfers from the budget are one of the sources of income of industrial enterprises and to some extent determine the solvency of industrial enterprises. The main purpose of the system of intergovernmental relations, as well as the entire system of public finance, is to provide conditions for improving the quality of life. PPP is seen not only as a tool for financing and implementing individual projects, but as a form of interaction between the state and the private sector, which is built into the management system based on co-financing, risk and revenue sharing, pooling of professional knowledge that serves to achieve certain positive social , economic and political results and is a key element of the industrial enterprise’s strategy to ensure sustainable industrial and resource-sustainable development. The main purpose of public-private partnership in an industrial enterprise within the framework of sustainable development is to achieve public socio-economic interests through the implementation of infrastructure projects of an industrial enterprise. The basis of PPP’s institutional infrastructure in Ukraine can be industrial infrastructure, which operates not on the basis of state administrative structures, but independently. Problems such as improving the legal framework of the partnership, creating a single coordinating and regulatory body, expanding the base of PPP participants (more active involvement of small and medium-sized businesses), and developing a strategy for the development of this structure need to be addressed. The tools of inter-budgetary regulation are considered - inter-budgetary transfers that determine the solvency of an industrial enterprise. The internal risks of industrial enterprises are substantiated. The advantages and disadvantages of current methods of industrial management are noted. The forms of PPP used in Ukraine and abroad are described, the most effective of them are indicated. Deterrent factors of PPP development are determined. The model of PPP at the level of the industrial enterprise is offered. The principles of optimal functioning and development of PPP are determined.
The article considers and investigates the system of decision making in the production processes of an agricultural enterprise. In dynamic conditions of decision-making and operational adjustments, a methodology of operational analysis of the current situation is needed to obtain the necessary results. Decentralized blockchain-based systems are the most promising for doing business. Usage areas of decentralized systems are production and logistics. Globalized production and distribution of agricultural tasks have brought a new milestone in the development and optimization of existing systems. The growing number of issues related to the optimization of internal processes in enterprises, has caused an urgent need for an effective solution to process tracking, which serves as an important tool for quality management and provides adequate protection of the process in the agricultural production chain. Blockchain is one of the main technologies that can provide innovative solutions for tracking agricultural products and food supply chains. Modern agricultural supply chains are a complex ecosystem that includes a number of stakeholders and therefore complicates the verification of important criteria: country of origin, stages of crop development, compliance with quality standards, yield monitoring. Ethereum Smart Contracts can effectively monitor and seamlessly integrate business operations and workflows for a stable supply of agricultural products. The agricultural sector has great potential for modernization and optimization of production, which in general can be a breakthrough for the economy as a whole. It is thanks to him that the country receives a significant flow of currency. After the abolition of tariffs restricting the supply of products to Europe, new markets were opened for production. Demand for agricultural products is high and by modernizing the management system, we will be able to get even better results. Also, the involvement of information technology provides good conditions for productive and confident development of small and medium-sized agricultural enterprises and farms. For example, blockchain technology will provide access to new markets and reduce the bureaucratic burden on the company, simplify communication with suppliers and customers.
The article identifies the role of agricultural enterprises, rural communities, and the state in the development of rural areas of Ukraine. The author gives her vision of the category “rural areas” for this study and summarizes the functions inherent in rural areas. This paper determines the integrated function of rural areas, which is to create a spatial basis for comfortable living, economic activity, preservation, and enhancement of bio- and landscape diversity. The article analyzes the main indicators of activity of agricultural enterprises, indicators of agricultural development, and socioeconomic indicators of the level and quality of life of rural residents. It is determined that the positive dynamics of agricultural production in Ukraine is not accompanied with a corresponding improvement in living standards of rural residents. It is concluded that it is necessary to modify the role of agricultural enterprises through compliance with the principles of sustainable development while maximizing their target functions. The paper examines the participation of the state and united territorial communities (UTC) in rural development. It is outlined that in Ukraine support for rural development at the state level is carried out mainly based on a sectoral approach in the presence of elements of a territorial approach. Such elements include the financing of infrastructure projects in rural areas. Decentralization in the country has strengthened the role of UTC in rural development. The paper identifies the advantages and challenges faced by UTC in the process of rural development planning. The importance of maintaining the advantages of rural areas is substantiated. It is emphasized that the development of rural infrastructure, the improvement of its ecological condition is possible with the common efforts of the state, local governments, and enterprises. Keywords: rural areas, rurbanization, decentralization, agricultural enterprises, sustainable development.
Abstract. A Ukrainian intellectual-expert community is at the initial stage of forming a methodological basis of the rural economy ontogenesis that is determined, first of all, by the ongoing decentralization reform, a new role of the rural economy from the national perspective of a new (both coronavirus and post-COVID) economic reality in ensuring food sovereignty, economic recovery of the economy, in general, and rural territorial communities, in particular, with regard to new challenges associated with the ageing of the rural community, de-population, predominance of the rural employment in the rural area and financivization of relationships within the rural economic agents, ultimately creating a new normality of the operation and development of the rural economy. Taking into account that Ukraine has strategically outlined its aspiration for integrating into the European Community having successfully passed a forming phase of group dynamics (according to Bruce Tuckman), has moved to a conflict phase having enlarged its orthodox understanding to the absence of proper parity in the development of socioeconomic, financial-institutional processes inside the rural economy, having created the threats to its transition to comprehensive digitalization and «greening» of finances applied for it. In the European Union, this problematics has been studied and an analysis of searches of directions of its solution has been carried out since the 50s of the past century actualizing the necessity to typologize best regional practices, their implementation from the perspective of the agrarian policy with regard to iteration of the Public Finance Management System Development Strategy, directions of the modernization of state support for agricultural goods producers, a gradual transition from a support institution to an assistance institution. To achieve the goal, which was defined as typologization of theoretical leverages and empirical inter-influences and inter-dependencies of the ontogenesis of the rural economy in the conditions of the implementation, by the European Community, of the UN 2030 Sustainable Development Goals as the basis for new strategying and financivization (including their «greening») of its development in our country, the methods were used: of induction and deduction, comparison and systematization — in researching the historiography of the notion «rural economy», penetrating it with a «financial» spirit and processes of «greening» financial-economic relationships of the economic agents of the rural economy; of synthesis and analysis — for characterization of financial support (assistance) of the rural economy with regard to modern approaches to the establishment and development of the Common Agricultural Policy in the EU member countries in order to implement a comprehensive regulatory European-colored movement towards digitalization and financivization including the post-COVID financial recovery of the rural economy, the formation of the basis for the financial central focus on local value added; of morphological analysis — for a new parametrization of the rural economy with regard to evolvement of the financial vector towards stimulating agro-producers for sustainable and comprehensive development; a graphical method — for vivid presentation of theoretical and methodical material; а abstract-logical method — for theoretical generalization and formulation of conclusions from the conducted research. Formed typologies of theoretical leverages of the rural economy enabled to clearly crystallize the parameters inherent to it only, in particular: goal-oriented collaboration of various economic activity types carried out within the rural territorial community in order to form local value added, ensure local food sovereignty and food security, create conditions for developing integrated corporate associations based on symbiomatics of the agrarian and construction economies; both enterprises (corporations, agro-food clusters) and individual entrepreneurs as well as households determining the operation of the food market and focusing the financial system on the respective genotype of economic agents involved in the rural economy, act as the entities of the rural economy; the compliance id provided, with the principle of sustainable and inclusive development, the «green» ontogenesis of the system of state support (assistance) of agro-producers; the orientation is substantiated, towards a new scaling of rural construction projects, social infrastructure including that involved in counteracting a coronavirus infection providing conditions for meeting the intellectual-staff needs of economic agents-stakeholders of the rural economy. Conducted generalization enabled to single out a number of modernization stages of the EU Common Agricultural Policy, in particular, in terms of mass-qualitative and mass-variable characteristics of financial support (assistance) of agro-producers as well as characterize the current central focus in their development on the rural economy institution expressed, in particular, through rural territories (rural territorial communities) in terms of promoting implementation of village-saving projects of rural development and solution to financial-economic, social and ecological problems of the rural area. A new European-colored parametrization of the rural economy has become a basis for formulating an own conceptual-categorical construct, in particular, the «rural economy» and its related financial-economic categories and notions as a system of the economic agents, whose activities being associated with the rural territory envisage using natural and other raw-material-climatic resources to meet the food needs of the community and perform financial-economic, social-food functions within the modelity of the operation of the national economy, with regard to the basic principles of sustainable and inclusive development, «greening» of state and local finances etc. The proposed definition relying on laid foundations in scientific studies of Ukrainian and foreign academic economists and actual parameters of development of rural territories, in particular, in respect of the mechanisms of financial support (assistance) in the EU member countries promotes further formation of the methodological basis for the harmonization of co-development of agrarian and financial policies in order to stabilize the rural economy, give it the signs of sustainability and European-formed financivization priorities. Keywords: rural economy, financivazation, state support (assistance), agriculture, rural territory, agrarian policy, state and local finances, natural-climatic resources, «green» finances. JEL Classіfіcatіon Q18 Formulas: 0; fig.: 2; tabl.: 0; bibl.: 20.
Наталя Трусова, Viktor P. Synchak, Любов Боровік, Serhii Kostornoi · 6 authors
The article deals with fiscal policy in the decentralized space of the financial system of Ukraine. The methodology of complex, systematic assessment of fiscal policy in the decentralized space of the financial system of the state is grounded. It is proved that effective methodological approach to assessing fiscal policy in the decentralized space of the financial system of the state is a vector auto regression (VAR), which provides dynamic correlation of time series with simultaneous determination of each exogenous and endogenous variable in the system, in case of fiscal impulses (shocks) in economy. The production-institutional function is used which, when adapting to the relationship between GDP and tax burden with specific statistics, changes the type of trend of tax revenue. A method for evaluating the effectiveness of financing targeted programs for decentralized territory has been developed. The dynamics of direct and indirect taxes to the state and local budgets are analyzed and the fiscal significance of VAT in GDP, the state budget and tax revenues of Ukraine is determined. The amount of tax debt and the state budget deficit has been estimated and the structure of tax benefits in terms of taxes and fees in Ukraine is presented. The projected values of real tax revenues per capita are substantiated and the forecast parameters of the level of subsidization of local budgets of decentralized territories are given.
Peculiarities of territorial community (hromada) development management are revealed and theoretical approaches to budget decentralization in Ukraine are substantiated. Based on the analysis of the composition and structure of local budgets, as well as the calculation of financial independence of territorial communities (hromadas), it is proved that the current budget system of Ukraine is characterized by a high degree of budgetary resources centralization, which does not provide real independence. Building an efficient model of fiscal decentralization consists in determining the tax potential of a separate administrative-territorial unit (territorial community). For further success of decentralization, it is necessary to determine the optimal amount of government functions that are appropriate and cost-effective to delegate to the appropriate local level on a permanent basis, thereby converting them into the local government's own functions.Purpose of study. The aim of the study is to assess the impact of budget decentralization on the sustainable development of territorial communities (hromadas), to determine its relationship with changes in the administrative-territorial structure of Ukraine and to strengthen the financial independence of newly established institutions (amalgamated hromadas).Methodology. In the course of the research the following methods were used: analogy and comparative analysis to identify the features of the implementation of fiscal decentralization in different countries of the world and in Ukraine; settlement and constructive – used in determining the indicators of territorial communities' financial independence in the process of budget decentralization implementation in Ukraine; abstract-logical to reveal the main threats to the financial security of territorial communities and justify proposals and recommendations to ensure their sustainable development.Results of the study. The study showed the presence of certain features in the implementation of budget decentralization reform in Ukraine in modern conditions due to a number of macroeconomic and institutional factors with a long-term and globalization nature of manifestation. They led to the emergence of clearly defined trends and patterns of change in the choice of regional development financial instruments, which will further improve the process of development management of Ukrainian administrative-territorial units in terms of decentralization to achieve the priorities of socio-economic development.Peculiarities of territorial community development management are revealed and theoretical approaches to budget decentralization in Ukraine are substantiated. Based on the analysis of the local budget revenues composition and structure, as well as the calculation of the territorial community financial independence indicators, it was proved that the modern budget system of Ukraine is characterized by a high degree of centralization of budgetary resources.It has been substantiated that the difficulties arising in the financing of state budget expenditures under both unitary and federal systems are largely due to the imperfection or inconsistency of certain provisions of the Basic Law (the Constitution) with the current state of interstate relations and the domestic political situation.Conclusion. It is emphasized that the main problem to be solved to build an effective and efficient model of fiscal decentralization is to determine the tax potential of a particular administrative-territorial unit (territorial community) and the optimal volume of state functions that are expedient and cost-effective to delegate to the local level as own functions of local self-government.
Introduction. Differences in the understanding of the main management and information and security approaches to the formation of an innovative cluster group of SME with large industrial enterprises indicate the ambiguity of ways to measure and evaluate such interaction and its scope, which in Covid-19 on the basis of sustainability, decentralization and European integration requires further study. Methods. The historical and logical method is used in the article; the method of systematization, classification and theoretical generalization; the method of institutional analysis; the method of system analysis; the method of logical analysis and synthesis; the method of graphical analysis. Results. It is proved that the cooperation of industrial SME with large industrial enterprises makes certain demands on them. Before attempting to cooperate with large and medium-sized industrial enterprises, manufacturing SME must have a clear idea of the state of their activities, their own potential and its use, the market position of goods and services relative to competitors. Therefore, the procedure of diagnostics of the state of activity of industrial SME is developed in the work, the leading one in which is the assessment of its solvency. The competitiveness of a production SME, its potential and sustainability are assessed using available methods. Production SME differ in scale and types of activity, policy of its financing, degree of integration into the economy of the region or production cluster, which determines the multiplicity of areas of their support. Discussion. Market support for manufacturing SME should be directed to intensify their activities - assistance in finding markets, customers and business partners, the use of mechanisms for adaptation of enterprises using the full range of opportunities for administrative support. Cooperation of manufacturing SME with large industrial enterprises as a kind of business partnership can take place not only in traditional forms, but also using its most common organizational and economic models - subcontracting, franchising, leasing and venture business. The use of such a range of organizational and economic models of cooperation will help meet the interests of each of its participants and strengthen the economy of the region. Keywords: modern management, information and security approaches, innovative cluster group, COVID-19, sustainability, decentralization, European integration.
Здійснено спробу розв'язати проблему визнання, бухгалтерської класифікації та подальшого обліку криптовалют. У межах цього дослідження побудовано логічну схему класифікації криптовалют як активу для цілей бухгалтерського обліку. Така схема охоплює питання, що є основою для прийняття рішень (професійного судження бухгалтера). Також проведено порівняння можливих моделей оцінки криптовалют на основі традиційних підходів до оцінки активів з МСФЗ/НП(С)БО. У результаті запропонована мультикласова модель обліку змін у ринковій вартості криптовалют, яка передбачає можливість багатоваріантного визнання криптовалют у бухгалтерському обліку в залежності від мети їх утримання: у складі еквівалентів грошових коштів, запасів (товарів або готової продукції) або нематеріальних активів. Така модель розв'язує проблему не тільки класифікації криптовалют, але й містить рішення щодо облікової оцінки криптовалют.
In the 21st century, it is becoming increasingly clear that human activities and the activities of enterprises affect the environment. Therefore, it is important to learn about the methods in which companies minimize the negative effects of their activities. The article presents the steps taken and innovative actions carried out by enterprises in the energy sector. The article analyzes innovative activities undertaken and implemented by enterprises from the energy sector. The relationships between innovative strategies, including, inter alia, digitization, and Industry 4.0 solutions, in the development of companies and the achieved results concerning sustainable development and environmental impact. Digitization has far exceeded traditional productivity improvement ranges of 3–5% per year, with a clear cost improvement potential of well above 25%. Enterprises on a large scale make attempts to increase energy efficiency by implementing the state-of-the-art innovative technical and technological solutions, which increase reliability and durability (material and mechanical engineering). Digitization of energy companies allows them to reduce operating costs and increases efficiency. With digital advances, the useful life of an energy plant can be increased up to 30%. Advanced technologies, blockchain, and the use of intelligent networks enables the activation of prosumers in the electricity market. Reducing energy consumption in industry and at the same time increasing energy efficiency for which the European Union is fighting in the clean air package for all Europeans have a positive impact on environmental protection, sustainable development, and the implementation of the decarbonization program.
Introduction. Current trends in the growth of demand for public goods at the local level increase the expenditures of local budgets for their financial support. Transformation processes in Ukraine to increase the role of local budgets necessitate a clear distribution of sources of tax revenues between the levels of the budget system in direct proportion to the financing of local budgets and the introduction of an effective mechanism for effective financing of local budgets through ensuring the socio-economic development of regions.The purpose of the research is to substantiate the scientific and practical basis of the role of expenditures of local budgets of Ukraine in ensuring the socio-economic development of regions.Research methods are based on the dialectical method of scientific knowledge and a systematic approach to the study of local budget expenditures of Ukraine in terms of budget decentralization using methods of scientific abstractions and analogies, analysis and synthesis, economic and statistical analysis to study the role of local budget expenditures in ensuring socio-economic development of the regions.Results. The directions of activity of local authorities in the context of regulation of social and economic development of regions are considered and defined. The system of indicators according to which the monitoring of socio-economic development of regions is carried out is researched. Expenditures of local budgets of Ukraine of social orientation and expenditures on economic activity in the context of determining their impact on the socio-economic development of the regions are analyzed. The role of regional target programs as an important means of effective application of program-targeted budgeting is determined. The directions of growth of influence of expenses of local budgets in definition and maintenance of priorities of social and economic development of regions are outlined. Prospects. Further research is important to focus on increasing the efficiency of expenditure of local budgets in the context of ensuring the socio-economic development of the regions.
Dmytro Nemish, M. Gumeniuk, Іван Баланюк, Діана Шеленко · 5 authors
Goal. To reveal the modern features of the functioning of personal farms (PF), to highlight the main problems and prospects for their development. Methods. The methodological basis of the study formed general and special methods: abstract, analysis and synthesis, comparative, graphical, analytical groupings, sociological, computational and constructive. Results. The analysis of the structure of agricultural products is carried out. It is established that the share of PF in its production is significant and will contribute to the food supply of the region. Research confirms that the specialization of PF is regulated by the area of available agricultural land and production. It is determined that the development of these farms, turns them into major producers of most types of agricultural products. PF can compete with the public sector in some aspects of its activities, to promote the restructuring of the agricultural sector of the economy, to influence the change of land, property and labor relations. The main problems in their activities are the low level of technical equipment, high cost and complexity of products, limited financial resources and sales opportunities, changes in the socio-demographic situation in rural areas. The newly created united territorial communities (UTC) may solve these problems. Conclusions. The development of PF in a market economy is one of the conditions for the survival of the modern rural family. Several options for the transformation of PF depending on their area have been identified, in particular, the transformation into family farms. At the level of UTC, it is advisable to use measures aimed at stimulating the development of PF in the existing form and in the form of family farms to increase the efficiency of the industry and improve the financing of rural residents.
The article is aimed at deeper studying and identifying the theoretical and methodological principles for the formation of sources of expansion of the fiscal space of territorial communities in the context of transformation processes in Ukraine. The publication proposes the authors’ own definition of the category of «fiscal space of territorial communities» as an environment for interaction between fiscal policy actors on the redistribution of budget resources and ensuring the financial capacity of amalgamated hromadas (AHs). The composition of revenues of budgets of AHs is analyzed. The main advantages of decentralization and certain risks inherent therein are presented. The goals of administrative and financial decentralization in terms of levels of public administration are characterized. The share of local budget revenues in the GDP of different countries is studied. It is defined that in the process of decentralization, the tax system of Ukraine has undergone changes in the structure of tax distribution between levels of management directed towards the benefits of local self-government. In particular, as the financial basis of local self-government in terms of the performance of their own powers is determined taxes and fees that have a direct «connection» with the territory of the relevant administrative and territorial unit. By amending the Budget and Tax Codes of Ukraine, it was achieved to consolidate stable sources of income of local budgets and expand the budget powers of local self-government bodies. Prospects for further research in this direction are the development of practical recommendations on the sources of expansion of the fiscal space of territorial communities in the context of transformation processes in Ukraine, the definition of effective and affordable ways to finance territorial communities.