The aim of the article is to research the prospects and opportunities for using blockchain technology in entrepreneurship, as well as international payments and banking operations. On the basis of current and up-to-date data and opinions of authoritative English-language publications on business, the problems concerning the relevance of technology of a distributed ledger have been comprehensively examined, and the results of many startups – young companies working on blockchain-solutions in various spheres, have been evaluated. As a result of the research, the main directions of work of startups in the field of application of blockchain technology were identified: smart contracts; cloud data storage; production processes; sphere of remuneration of employees; electronic voting with protection against breaking; "sharing economy". Prospects for further research in this direction are specific justification of the applicability of distributed ledger technology and the concept of decentralization in developing sectors (the "sharing economy", "Internet of Things"), as well as a deeper analysis of the impact of new solutions in relation to the traditional sectors of the economy, including Ukraine.
This article examines economic aspects of managing territorial development. Themain principles of interaction between central and local authorities which exist in modern Ukrainian society have been defined. Some approaches to ensuring economic territorial development are revealed. The normative legal framework, on the basis of which the implementation of management actions in separate territories is carried out, has been examined. The decentralization reform and the activities of unified territorial communities that manage territorial development are characterized. The disadvantages that exist in the sphere of administrative decision-making concerning territorial development are considered. Particular emphasis is placed on improving public policy in order to intensify the decentralization reform at the sub-regional level, to increase the level of financing of unified territorial communities and improve control over the use of their budgetary funds.
Статья посвящена обоснованию организационно-экономических основ создания инновационно-интегрированных структур в условиях социально-экономической нестабильности на основании анализа текущего состояния показателей конкурентоспособности и инновационного развития Украины на международной арене и мировых тенденций инновационной динамики. Охарактеризованы предпосылки, факторы, принципы, составляющие и задачи развития инновационно-интегрированных объединений. Обоснована целесообразность учета основных составляющих формирования и развития инновационно-интегрированных структур. Статья посвящена обоснованию организационно-экономических основ создания инновационно-интегрированных структур в условиях социально-экономической нестабильности на основании анализа текущего состояния показателей конкурентоспособности и инновационного развития Украины на международной арене и мировых тенденций инновационной динамики. Охарактеризованы предпосылки, факторы, принципы, составляющие и задачи развития инновационно-интегрированных объединений. Обоснована целесообразность учета основных составляющих формирования и развития инновационно-интегрированных структур. The article is devoted to the substantiation of the organizational and economic principles of creation of innovative-integrated structures in the conditions of socio-economic instability on the basis of the results of the analysis of the current state of competitiveness's indicators and innovative development of Ukraine in the international arena and world tendencies of innovation dynamics. The comparative characteristic of the key indicators of innovative development in Ukraine with the individual countries of the world, are made it possible to ascertain both significant negative socioeconomic processes and a fairly significant level of lagging behind the key indicators of innovative development from countries of the world, which are showing the high rates of innovative dynamics or are at the stage of growth. The preconditions, factors, principles, components and tasks of development of innovative-integrated associations were characterized. The expediency of taking into account the main components of the forming and development of innovative-integrated structures, including the educational component of training specialists for innovative-integrated structures (quality, competitiveness of educational services, financing, scientific activity of educational institutions); professional development of employees of innovative-integrated structures (lifelong learning, increasing of human capital); personnel support (availability of innovative type of personnel, innovative development of human capital); directions of improvement of the organizational and regulatory influence in the conditions of decentralization of power and management (development of strategies, territorial priorities, transparency of public procurement, implementation of program-targeted approach); financial analysis, audit and information support (financial information, audit services, currency rate regulation, information requirements); tax regulation (advantages and disadvantages of the taxation system, tax incentives); investment support (state financial support, investment attractiveness of enterprises); stimulation of entrepreneurial activity (problems and prospects of development of innovative entrepreneurship); social development (development of social capital); ensuring national security (the role of innovative-integrated structures) was substantiated. Thus, the improvement of the organizational-economic principles for the creation of innovative-integrated structures should take into account the latest trends associated with the results of the 4th industrial revolution, the peculiarities of implementing innovative activities in conditions of socio-economic instability, must be oriented towards the formation of innovative ecosystems, introduction of a smart approach to management organization, territorial branding, enhancement of the competitiveness of the territories and their investment attractiveness.
Decentralization of the power authorities inUkrainewill greatly bring science closer to the needs of production in its primary links, and will improve the use of agricultural potential in each region (Sabluk, 2017). Under these conditions, it is possible to practically implement the proposed improved model of management of agricultural projects, which is based on the coordination of efforts of agrarian producers with specialists of the relevant departments of regional state administrations (Prysiazhniuk and Plotnikova, 2017). Creation of innovative centers for the development of agricultural production and rural areas in the regions will contribute the activation of the development and implementation of innovative projects. It actualizes the problem of formation of sources of financing of agricultural projects. Material and methods. The purpose of the work is a scientific substantiation of the possibility of capitalization of agricultural lands as a potential source of project financing on the example of the regional level of management of agricultural production. The methodological and theoretical basis of the study is the modern works of Ukrainian and foreign scientists, as well as the results of own research. In the process of research the following methods were used: monographic, abstract-logical, statistical-economic, analysis and synthesis. Results and discussion. The possibility of capitalization of agricultural lands as a potential source of project financing on the example of the regional level of management of agricultural production inUkraine is substantiated. The evaluation of potential volumes of crediting of projects of the agricultural enterprises of regions ofUkraine depending on size of the collateral value of the land and the rights of rent is executed. The investment potential of agricultural enterprises of the regions of Ukraine in the context of project financing, taking into account the collateral value of the land resource and investment profit (the sum of net profit and amortization of fixed assets) is calculated. Conclusion. Estimation of the potential volume of credit support for projects of agrarian enterprises in the regions ofUkraine, depending on size of the collateral value of the land and the rights of rent, indicates the important role of this potential source of financing. So, for example, the potential volume of credit financing for projects of agricultural enterprises inUkraine subject to 50 % of the value of land mortgage is about 267.6 billion UAH. Involvement of these funds to finance innovative agricultural projects will contribute to the expansion of opportunities for the practical implementation of these projects and to ensure sustainable development.
The implementation of strategic planning of the development of united territorial communities in the conditions of decentralization in Ukraine is justified. The stages of strategic planning of territories development in Ukraine are described. The authors identified the features of the current stage of strategic planning of the development of territories. The problems of strategic planning of socio-economic development of communities are described in the article: methodical problems; organizational problems; economic problems; problems of personnel; social problems. The authors pay special attention to the characteristics of financing of the united territorial communities in the Donetsk region. The need to assess the financial situation in the united territorial communities, the right choice of priorities for community development is emphasized.
The article is devoted to the assessment of the state of implementation of the decentralization reform of public administration, aimed at ensuring, first of all, the financial and social self-sufficiency of the united territorial communities. The development of the regional economy, as well as the implementation of decentralization reform, are priority areas for the current government. During the period since the beginning of the reform, certain results have been achieved, in particular, the profitability of local budgets has increased significantly, and a number of regulations have been adopted in this area. However, despite all the positive results of the reform, the established organizational and economic mechanism for the development of rural territorial communities is not ideal and needs to be improved to ensure further development in the already formed rural united territorial communities. The purpose of the study is to highlight the main achievements that have been achieved since the implementation of decentralization reform, as well as to identify problematic issues of development of territorial communities. Particular attention is paid to proposals to improve public policy measures aimed at promoting community support and their capacity for future development. In writing the article used general scientific research methods such as analysis, synthesis and generalization, in particular, they were used in the division of communities into categories, determining the level of their refinement and profitability. The indicators of development of the united territorial communities are analyzed and the main sources of their financing are determined. The study pays special attention to intergovernmental transfers, in particular, it was possible to identify the regularity of their reduction from year to year, shows an increase in local budget revenues. The main problems of decentralization implementation in Ukraine, especially in rural areas, are studied. This research serves as both a practical and theoretical example of building the financial capacity of communities and will allow them to optimize the process of filling local budgets with sufficient financial resources needed for their proper functioning and development of rural areas, in particular. Guaranteeing financial capacity will allow the community to develop confidently in the future and accelerate the process of solving existing problems.
Introduction.The objective reason for the existence of an institution of local budgets is an increase in the efficiency of the provision of public services guaranteed by the state due to the proximity of such services to the immediate consumer. This process is based on the principle of subsidiarity, requires a sufficient level of financial security of local budgets and demonstrates the basic idea of the concept of fiscal decentralization. The decentralization reform is systematic and involves structural changes in various spheres of public life. The object of research of this article is the impact of changes in tax and budget laws aimed at decentralization on structure and dynamics of income and expenditures of local budgets. Purpose.The purpose of the article is to identify trends, priorities and unresolved issues in financing local budget expenditures, compare dynamics of expenditures with dynamics and structural changes in local budget revenues. Results. In the course of the research, the expenditures and revenues of local budgets of Ternopil region during 2004-2017 were analysed, comparison with trends in Ukraine was made. It has been established that due to slowed down economic growth and a systematic decrease in the share of own revenues in recent years, the amount of funding for institutions and activities in the social and cultural sphere has been reduced and the transfer of important functions to the local level was not accompanied by the transfer of sufficient amount of financial resources. Conclusions.The strategic goal of decentralization is to ensure the availability and proper quality of public services for all categories of the population. The decentralized budget system should function on the basis of a coordinated, unified national cooperation policy for many independent institutions, each of which has a legislatively defined sphere of autonomy. Since tax revenues form the main volume of own revenues of local budgets, the issue of improving the efficiency of tax administration comes to the forefront in the context of decentralization changes. Therefore, on the way to ensuring the increase of tax revenues, the strategic goal of local authorities should be to promote economic development of regions.
<em>In the article considered the implementation problem an effective organizational and economic mechanism (algorithm) and ensuring the safety of the process of decentralization of management of natural resources is considered as an organized transfer of powers from the sphere of state management to water, land, forest and mineral resources to territorial communities.</em> <em>The concept of the mechanism of ensuring the security of the decentralization process in the system of management of natural resources with the participation of local communities is proposed.</em>
Radical transformation processes in the economy, administrative reform and modernization of the public relations system entail the need for building adequate regulatory mechanisms to eliminate influences of negative factors, stabilize and sustain the development dynamics in the conditions of limited resources. The prolonged prevalence of situational analysis for purposes of administrative decisions making on budget-related issues prevented from effective setting and implementation of strategic objectives, which, once coordinated, would enhance the effectiveness of reforms in the budget system in the whole and the mechanism for interbudget relations in particular. Their high effectiveness is a key and complicated objective of public finance administration in a country. Solutions of problems related with stabilization of economic dynamics, overcoming of consequences of financial and economic crisis require advanced theoretical approaches to enhancing the effectiveness of inter-budget relations as an important component of budget control. The amendments to the budget legislation, adopted in 2014-2015, are supposed to provide for anew model for financing of local budgets and inter-budget relations and the guidelines for reforms of budget and taxation decentralization. The practice of budget control in 2015 shows that the current legal system for control of inter-budget relations had many unsettled issues which calls for its further improvement. Further implementation of the reform of budget decentralization and enhancement of inter-budget relations effectiveness requires extension of rights of local governance bodies, enlargement of their budget autonomy and clearly specified responsibilities.
The aim of the article is to identify the structural features of the local finance system as an aggregate of socio-economic relations under conditions of decentralization. The features of formation and development of the local finance system are analyzed. It is noted that the main place in the system belongs to local budgets as an important tool for the development of the socio-economic sphere. The importance of local finance in the formation of financial resources of local authorities under conditions of decentralization is studied. The shortcomings of the national budgetary policy at the local level are revealed. It is substantiated that the budgetary policy at the local level should be aimed at achieving an optimal balance between its economic and social aspects. Recommendations for improving the regulatory framework for the development of the finance system of the local self-government in Ukraine under conditions of decentralization are proposed. The need for providing access of the public to information and to participation in solving these issues is grounded.
Mar 28, 2017·Вісник Житомирського державного технологічного університету. Серія: Економічні науки // THE JOURNAL OF ZHYTOMYR STATE TECHNOLOGICAL UNIVERSITY. SERIES: ECONOMICS
The article analyses the directions of tax management in the context of budgetary decentralization. The paper aims to research tax management in the system of forming local budgets in the conditions of financial resources decentralization and analyze the current tools of tax management on the local level. In spite of a great number of researches, the issue of tax management in strengthening financial independence of local budgets is not enough studied; therefore, to reach financial independence of local communities it is necessary to adopt new normative and legal acts concerning decentralization of financial resources taking into account tax potential of each territorial community. The lack of financial resources causes the problem of optimal redistribution of power among central and local authorities. The author proposes the new mechanisms of solving the current problems on the example of local budget of the city of Uzgorod to contribute budgetary decentralization. The principal idea while conducting the reform of the budgetary process must be the adoption of certain changes in budgetary legislation which have to shift the mechanisms of budgetary financing and equating local budgets. The author concludes that the progressive vector of well-being increasing completely depends on the developed concept of regional economic policy. The article pays attention to the importance of taking into account the tax potential of a territory and characterizes the directions of strengthening financial independence of local government.
Urgency of the research. The objective need to popularize the foundations of sustainable development is due to an increase of anthropogenic impact on the environment. An important point is the formation of financial instruments for the sustainable development of rural areas and the development of ways of environmentalizing the agrosphere. Actual scientific researches and issues analysis. The scientific works of such scholars as M. Y. Malik, M. A. Khvesyk, O. M. Alymov, I. M. Lytsur, V. V. Mykytenko, E. M. Libanova and others deal with the financial support of sustainable development of rural territories. Uninvestigated parts of general matters defining. The scientists have not yet sufficiently developed the argumentation of the implementation opportunities of the priority areas of the formation of financial instrumentation for the sustainable agricultural development innovative approach. The research objective. The aim of this article is the substantiation of innovative approaches to the formation of financial instruments for sustainable development of rural communities. The statement of basic materials. The article deals with the features of the formation of financial instruments for sustainable rural development. The key role of the financial sector in the sustainable development of local natural and economic systems has been proved. We have calculated the resource of the local budget of Mukachevo district in 2014-2016. There have been defined the directions of expansion forms and sources of financing of the processes of reproduction of natural resources and improving environmental management through the rent relations in the process of financial providing of sustainable development management of rural communities. Conclusions. The concept of sustainable development, which covers the economic, social and environmental trends, needs to be prioritized. Strengthening the progress of the priority components of the concept of decentralized sustainable development, the possibilities of modernizing economic relations will be expanded on the basis of coordination of interests of communities with the interests of the authorities. It is also necessary to strengthen the development of the concept of a mutually integrated mechanism of accumulation and use of financial resources to ensure the economic basis of environmentally-oriented growth.
Subject of research is fiscal decentralization. The goal of this research paper is the analysis of the dynamics and status of fiscal decentralization. Methods which were used in course of research: generalization, comparative analysis method, statistical method and other methods. Study results. Characterized and analyzed Application of results: Ministry of Finance of Ukraine, the Verkhovna Rada of Ukraine. Conclusions. Decentralization in terms of expansion of powers at the local level leads to high efficiency of public administration at the lowest level, and to improve the efficiency and quality of public services. But the significant transfer of powers and functions from state to local levels without adequate financial security can lead to negative financial results. It is therefore particularly important is finding the optimum between the volume of granted powers, and their support by adequate financial resources.
The article highlights the essence of budgetary control. The features of control in the public sector performance are grounded as well as the relationship between verifiability and the controllability. It is proved that the achievement of public finance management needs its controllability. There is no alternative verifiability by ensuring controllability of budget resources. The classification criteria of budgetary control types according to the different classification criteria are developed. It has allowed to distinguish its following types: scheduled, unscheduled, previous, current, next, state, municipal, specialized, departmental, public, external, internal, solid, selective, comprehensive, effective, ineffective, centralized, decentralized, legislative, realizable, further, active, passive, available, projected, intermediate, final, mixed. The purpose of the article is to provide a classification criteria of budgetary control development, taking into account the role and functions of control in public finance management. The subject of the study is a set of financial relationships arising during the budgetary control due to appropriation of financial resources. Methodology. The following methods have been used in the process of writing: cognition, induction, deduction, analysis and synthesis. Results of the survey. Thus, the main directions of budgetary control implementation we can consider the following ones: monitoring compliance with procedures for preparation, review and approval of state and local budgets; the implementation of revenue and expenditure of the budget at the national and local levels control; detection of theft of public funds, as well as their misuse; accuracy of accounting control; increasing the revenue base of the state budget detection; preventive measures to combat corruption and bribery in the public sector. The author’s approach to classification criteria of budgetary control types, unlike existing ones considers budgetary control as a complex in all its manifestations. It allows implementing budgetary control in full and at all stages of the budget process. It will significantly increase its efficiency and effectiveness. Value/originality is specified in the following items. Classification of budgetary control, which differs from previous approaches in more detail and grouping features has been improved according to: the degree of planning and subordination:, control entities, stages of implementation, level of activity, time direction, nature of action, implementation and assessment according to the timing, forms of implementation, the scope that makes more effective budgetary financial management control.
The preconditions appearance Ukrainian phenomenon of "Dutch disease" and the transition of the national economy on a trajectory of "resource curse" that requires improving the system of fiscal regulation nature use and review priorities of increasing energy potential of territorial communities through integrated use of local natural resources are considered. Public-private partnerships agreements as a priority institutional form of realization of projects for increasing the energy potential of territorial communities in conditions of decentralization based on increasing the efficiency of processing of a waste of agricultural and forestry production and recovery capacity of small hydropower are defined. Stimulate the use of hydropower potential of small rivers based on introduction of a concession regime of use water fund lands is proposed. Advisability increasing of energy efficiency of land use based on processing of a waste of grain and industrial crops and not increasing cultivated areas of energy direction agricultural crops is proved. Creation of forest clusters based on subjects of forestry business, local governments and finance and credit institutions for creation conditions for reducing losses forest raw and manufacturing energy wood from recycled waste wood are proposed.
This article is about one type of cryptocurrencybitcoin.The main topic of this work is a level of risk connected with cryptocurrency market.The work consists of theory, a definition of cryptocurrency and bitcoins, an analysis of risk level in this kind of investments on cryptocurrency market and a bibliography. A definition of cryptocurrency and bitcoinsA Cryptocurrency is a modern digital medium of exchange.It is a new decentralized, limited and peer-to-peer payment system.Most cryptocurrencies are created to introduce new units of currency, whose total amount is limited.All cryptocurrencies use cryptography to control the creation and transfer of money.The first cryptocurrency was Bitcoin, created in 2008 and introduced in 2009.Nowadays it is the most popular cryptocurrency which is used as an open source software.The creator of Bitcoin was Satoshi Nakamoto, a person or a group of people.Nakamoto published a work on The Cryptography Mailing list in which he described the Bitcoin currency.Next year, the first Bitcoin software was launched on the network, which started Bitcoin's flow.Bitcoins are introduced to the market by a process called mining.In this process engage computer network participantsusers who provide their computing power, next verify and record payments into a network in exchange for minted bitcoins and transaction fees.Bitcoins are transferred by wallet software
Open access
Economic and Business Development Strategies
Digitalization and Economic Development in Agriculture
Economic, Social, and Public Health Issues in Russia and Globally
In the course of financing of innovative industrial clusters, it is the informational move that investors finance enterprises or projects. Investors have difference in priori probabilities, which will lead to the diversity of opinion among investors. The degree of the diversity has determined investors choose to take decentralized action or collective action. The difference of market finance and intermediated finance in reducing the cost of collecting and processing information determines that the difference of the performance in financing of innovative industrial clusters among different methods of financing.
The competitive position of companies is increasingly linked to their capacity to attract and retain competent personnel. Human resources management, in particular compensation, is a crucial component of this quest for competencies. Yet companies must choose between several types of compensation policies. They must determine on which basis to select a policy so as to maximize the effectiveness of the compensation system. These choices may be linked to external strategies of the company, e.g. diversification, differentiation, or internal strategies such as autonomous work teams, total quality and participative management. This article therefore attempts to analyze the extent to which external and internal strategies identified by companies dictate their choice of compensation policies. In other words, do companies that adopt particular external and internal strategies also opt for differentiated compensation policies?The data were collected by a questionnaire mailed to vice-presidents and human resources managers of Quebec companies in competitive sectors. We received 252 usable questionnaires, equal to an 11.4% response rate. The variables have been grouped into four main categories: compensation policies, external strategies, internal strategies and control variables. By means of a multiple regression analysis using the forced entry method we have tested the contribution of each category of variables, thus allowing for verification of the hypotheses formulated. The control variables were entered first in a single block, followed by the external strategies and internal strategies. Utility tests were performed to verify whether the order of entry of the variables influenced the results obtained.The principal findings suggest that internal strategies dictate the choice of compensation policy to a much greater extent than do external strategies. In effect, companies seek above all to create internal coherence among their HR policies and organizational development strategies. For example, companies that rely heavily on autonomous work teams, engage in more participative management and promote quality management have compensation systems that are less traditional and characterized by a greater emphasis on performance, transparency of information provided to employees and, to a lesser extent, leader pay policies and decentralization of decision-making, which is consistent with the literature. Regarding the impact of external strategies, our results are more mitigated. Only competitive strategies emanating from business units exert a slight influence on the choice of compensation policies. Moreover, corporate strategies such as degree of diversification do not affect the choice of compensation policies. This type of strategy is apparently too far removed from the concerns of HR managers. Lastly, of the control variables examined, unionization plays the most determining role in the choice of compensation policies. In fact, this variable is the most consequential in our analytical model. This result raises important questions about the importance of the strategic approach to human resources management and reinforces the relevance of exploring institutional approaches to compensation policies.
(1) As it is shown in the answering rate itself, concern of top management on the rationalization of business finance is very sincere. (2) As for depreciation system, contraction of depreciation terms and general or partial widening of the rooms for arbitrary depreciation are earnestly desired. (3) Corporate tax has been intensely criticized, and opinion of the majority takes its revision as a premise for financial rationalization. (4) Regarding budget system, opinion of the majority asserts concentrative management, but not a few recognize the necessity of decentralized system. (5) Upon internal audit and concept of cost, a fundamental shift from the traditional idea is fairly evident.