Financial decentralization in Ukraine: prerequisites, problems, prospects

The purpose of the article is to analyze the prerequisites, advantages, problems and prospects for the development of the processes of financial decentralization in Ukraine. Initially, the article reveals the features of the federal and unitary arrangements of states. As research has shown, the principles of fiscal federalism have been increasingly used by unitary states. The legislative and normative legal acts regulating the implementation of the decentralization policy in Ukraine are justified and given. Characteristics of the formation of new structures, such as: united territorial societies and their sources of financing are characterized. Changes in incomes in local budgets as a result of decentralization are analyzed, and their significant growth is observed. The mechanism of horizontal leveling of the tax ability of territories has been developed, which helps to remove imbalances and unevenness, most of the budgets of Ukraine are recipients of budgetary funds, since they receive a basic subsidy. The influence of the development of information technologies on entrepreneurial activity in small towns and villages is determined. Information technology is a tool of points of growth of territories. Decentralization will not gradually increase due to urbanization processes, but will be accompanied by new development mechanisms, where the labor force and the means of production will unite and help create a qualitatively new environment

Ukrainian experience of personnel vocational training: problems and prospects

A critical analysis of the Ukrainian experience of vocational training of personnel is conducted in the work. The statistics data on the number of employees who participated in vocational training activities during 2016-2018 are presented and analyzed. Based on the analysis, the main reasons for the low interest of Ukrainian business owners in the personnel vocational training were identified. In the work, the author also has highlighted the factors that restrain and activate the development of vocational training of personnel at Ukrainian enterprises. In order to increase the efficiency of professional development of personnel at Ukrainian enterprises, the author proposes to use modern methods for this purpose. Because traditional methods do not produce the desired results. Ukrainian enterprises need to invest in staff training, which is the main reserve for improving their performance

Development of methodology of alternative rationale for financial ensuring of bridges building

The purpose of the article is to develop a methodology for alternative substantiation of financial support for bridge construction. To achieve the purpose, the following general scientific and special methods and techniques of research were used: “golden ratio” rule; systematization and generalization; generalization of the results of the analysis and the logical generation of conclusions. Initially, the article analyzed the state of bridge structures in Europe and Ukraine. Based on the analysis, a disappointing situation has been identified, namely that a significant ratio of bridges number require major overhaul or are in critical condition. During the research, the following tasks were solved, namely: physical wear of the bridge as a failure was considered; the feasibility of investing in reconstruction or new bridge construction was determined. For the purpose of rational use of financial resources, which are limited in the age of economic challenges, and on the basis of the rule of “golden proportion”, the maximum percentage of investment in reconstruction is determined. If the limit is exceeded, it is decided to build a new bridge. This result allows making an economically sound decision and evaluating the effectiveness of the invested resources. It is proved that if the wear index of the overhaul bridge construction is higher than the wear rate of the new bridge construction by λ2 / λ1, and the amount of funds for overhaul reaches 70% of the funds needed to build a new one, it is better to build a new bridge

Social entrepreneurship as an instrument of development of small and medium entrepreneurship in Ukraine

The article describes the features of social entrepreneur development as a way of government regulation of labor market. Different ways of definition “social enterprise” are analyzed. During the research, the models of improvement and development about regulation of this activity in other countries were analyzed. Analyzing the modern models of social entrepreneurship in other countries demonstrates how it is popular and deals with the problems of unemployment and social safety. In the current situation in Ukraine this model of entrepreneurship is not so popular. For the changing situation we described and proposed the mechanism of development of social entrepreneurship. For the more active development of this entrepreneurship model we have proposed: to create, pass and apply the law about social entrepreneurship, which can measure the criteria for this type of activities and the law mechanism to support social entrepreneurship; to spread information about this type of activity through the informational channels; to develop and establish programs about professional education for people, who would like to work at the social entrepreneurship area. The characteristics of social entrepreneurship were compared, charitable organizations and traditional business. Features and criteria, which characterize the social entrepreneurship are described. Experience of developing social entrepreneurship in other countries and the benefits of involving labor force in Ukraine are compared. The methods used for research are comparing and analyzing. The main goal of social entrepreneurship is producing goods and services for solving social problems and searching the ways of improving the economic situation in Ukraine

Forecasting the state of agricultural enterprises based on the results of economic diagnostics

This article is devoted to the study of information support and methodological tools for economic diagnostics of agricultural enterprises, based on the results of which the cost of resource potential predicted. Determined the factors of influence of the internal and external environment on forecasting the cost resource potential of agricultural enterprises. The methodological toolkit for forecasting the cost resource potential of agricultural enterprises used, taking into account the extrapolation of indicators and the coefficient of change. Built the economic-mathematical models for forecasting the general potential of agricultural enterprises in Ukraine. Proposed the scheme of forecasting the state of agricultural enterprises and complex information support the stages of making managerial decisions by the management of agricultural enterprises. For agricultural enterprises of Ukraine, promising directions for the development of economic activities are proposed

Ensuring the financial safety of Ukrainian agricultural enterprises in the context of export products and the impact on macroeconomic indicators

This article is devoted to the study of directions of financial safety of Ukrainian agricultural enterprises through the assessment of indicators economic activity and analysis of the export potential of agricultural products. The financial indicators of economic activity of Ukrainian agricultural enterprises, which affect the ensuring of financial safety, are determined. The activity of large Ukrainian agricultural enterprises in terms of their capitalization and formation of own capital are studied. Analyzed the commodity structure of exports agricultural products of Ukrainian agricultural enterprises and determined the amount of foreign exchange earnings from EU countries. Due to economic-statistical and mathematical tools, a study of the dependence of GDP and the euro on foreign exchange earnings from exports of agricultural products of Ukrainian agricultural enterprises to the EU countries. Offered the scheme of directions of maintenance of financial safety of the agricultural enterprises of Ukraine in the context of internal environment of activity of economic entities and stabilization of macroeconomic indicators of the country

Tourist industry of Ukraine: reserves of financial and economic growth and determinants of quality management

Authors presented main aspects of tourism industry of Ukraine. The opinion was expressed that one of the factors in the recovery of domestic and international tourism in Ukraine will be the new quality of management of the industry. Main proposals regarding the restoration of tourist flows to the capital of Ukraine and the country in particular were named, namely: to develop a strategy aimed at eliminating the crisis situation and improving the image of the city and which will be able to neutralize the status of a dangerous city; to encourage the standardization of accommodation facilities (hotels, motels) and their official registration and functioning; to create a practical and convenient public transport infrastructure and travel navigation in three main languages (Ukrainian, English and Chinese). Statistical data on the flow of tourists from European and Asian countries have been analyzed, and the countries to which Ukrainians travel most often have been indicated. Authors expressed the opinion that the financial policy in tourism and hotel business sector should be conducted in a flexible way, and should be carried out with the help of attracting investments from private companies, charitable, social, and foreign organizations. According to the presented SWOT-analysis, the team of authors indicated that there is a need in Ukraine to develop a new anti-crisis strategy to maximize tourist flows to the city, as well as to develop measures to improve the image of Ukrainian capital and an accessible destination

Management of BAIS: technological trends and digital iInitiatives 4.0

Successful operation of modern banking institutions significantly depends on the use of the latest information and communication technologies in process management, from motivation and communication with staff, to remote control of banking operations. Purpose of scientific research is a study of the principles and features of banking automated information system in terms of implementation of the latest information and cloud technologies by banking institutions. The object of scientific research is banking automated information system of banking institutions. The result of the article: research proved that the creation and selection of banking automated information system of banking institution is based on the planning of all systems related to the functioning of the complete infrastructure of the bank, built on information technology; the causes and consequences of various risk situations by channels of their occurrence in the banking sector as a result of using a bank automated information system are substantiated; main requirements for information support of banking institution and the main criteria for choosing banking automated information system of a banking institution are identified. Practical implications: priority ways of overcoming the risks of introduction of banking automated information system are offered, taking into account the scope and spread of risks. Value/originality: the introduction of a banking automated information system of a banking institution today is impossible without the use of cloud technologies, each of which has a number of strengths and weaknesses

Financial mechanisms of ensuring the development of business under high interest rates

In the given article the problems of choice as for the types and forms of debt and share financing on the developing and “frontier markets” with high interest rates have been considered, the definition of what kind of interest rates can be viewed as high and under which circumstances nominal interest rate and in which ones – the real interest rate is important for business. Also, the classification of debt and sharing financing is given and the comparative analysis of such financing is made. Some close attention has been paid to the calculation of the real interest rate according to the inflation forecast. Recommendations concerning attracting of relatively cheap trade financing including international financial and credit organizations, development of operation factoring, financing from captive financial institutions of the exporters of the materials and equipment from the EU and the US have been grounded. The opportunity of relatively free of charge share financing through the mechanism of placing shares IPO/SPO is emphasized, exemplified by the results of placing shares on stock exchanges and their alternative platforms of issuing banks with businesses in Ukraine in 2005 – 2013. As a result, the conclusion concerning the necessity of thorough analysis of financial conditions on the developing and frontier markets before gaining such financing has been made. High interest rates within the average indicators even on the basis of prime rates do not necessarily mean absence of attractive conditions of financing

The impact of the sanctions on the economy of the Russian Federation

The article analyses the impact of the sanctions of civilized countries on the Russian economy. Particular attention is paid to sectoral sanctions on the markets of oil and oil products, in the banking and financial sectors, as well as on the market of transport services. The authors analysed the prospects for expanding sanctions on the oil market for Russia in the context of setting a maximum price for the export of Russian oil by the main buyers. Conclusions are drawn not only about the impact of sanctions on Russian oil production, but also about a possible decrease in prices for oil and other energy resources in the region. The authors positively assessed the US and EU anti-Russian sanctions in the financial sector. The impact of sanctions on the Russian banking system, insurance, and stock markets was studied. Particular attention was paid to the impact of disconnecting the banking system of the Russian Federation from the international payment system SWIFT. The authors also focused on the gradual division of the Russian economy under the influence of sanctions and trends in the energy market into the energy sector and the rest. It was found that the most affected by the sanctions were air transportation, mechanical engineering, and ferrous metallurgy sectors. Conclusions are drawn about the need to continue sanctions pressure on the Russian economy. High energy prices during the 200 days of the war with Ukraine allowed the Russian Federation to subsidize economic sectors that suffered from the war at the expense of the energy sector. A market reduction of the oil prices or their correction with the help of the sanctions policy should cause significant and irreversible damage to the Russian economy