ВПЛИВ ІНФЛЯЦІЇ НА ІНВЕСТИЦІЙНУ АКТИВНІСТЬ ПІДПРИЄМСТВ ПРОМИСЛОВОСТІ

Abstract

The article discusses the influence of the price factor on the investment activities of industrial enterprises. The influence of the main factors on the increase in financial resources of enterprises of the industry for the production of investment goods is determined It is proved that the rise in prices adversely affects the dynamics of investment processes, requires significant amounts of funding. Inflation undermines the incentives for a massive renewal of capital on a new technical basis, since the level of profit becomes hardly predictable due to the difficulties in determining the difference between the value of production costs and wholesale prices. As a result, the course of restructuring of industrial production slows down. Analysis of the movement of producer prices for engineering products in the developed EU countries suggests that in countries with low price growth rates there are more favorable conditions for realizing the requirements of scientific and technological progress in the structure of industrial production. The significant price increase during the economic crisis period holds back the next renewal of fixed capital, undermines the incentives to improve technology. For Ukrainian engineering enterprises producing investment products, high rates of price growth are characteristic. Particularly high rates of growth in prices for products of enterprises producing electrical equipment. It should be noted that the advantage in the growth of prices was obtained mainly by monopolies in the production of commodities and goods with a low degree of processing, while the branches of the investment engineering industry, in particular the enterprises for the production of electrical equipment, computers, electronic and optical products, which are designed to determine the country's economic potential. have become outsiders in the price race, as can be seen from the dynamics of prices. It has been established that the price factor had a decisive influence on the increase in the output of investment engineering products. The analysis showed that the growth of investment demand for the investigated period was largely due to the price factor. In particular, in 2018, with the growth of production of electrical equipment at 7,6 billion UAH at the expense of the price factor, the amount of financial resources necessary to finance investment activity in the purchase of electrical equipment increased by UAH 12,7 billion.