Development Of Economic System Research Articles

Development of Economic Evaluation System for Building Project Based on Computer Technology

In order to effectively reduce the risk of construction project (CEP) and maximize the benefit of CEP, this study establishes the construction project economic evaluation (PEE) system by using computer technologies such as transfinite learning machine, artificial intelligence algorithm, and related fuzzy neural network and compares the coupling and sensitivity of different algorithms for PEE indicators, Through the demonstration of the comprehensive efficiency of the PEE system under the condition of computer technology, The results show that the index coupling and early warning sensitivity of the project economic evaluation system using the artificial intelligence algorithm of overlimit learning machine under computer technology are better than the previous traditional algorithms, which can realize the artificial intelligence of the economic evaluation system, reduce the investment cost of the project and improve the delivery time of the project, make the best balance between the technical application and economic operation of the project, and promote the sustainable development of the construction project.

Philosophical Category of Integration as a Condition of Economic Systems Development

The article analyzes the concept of integration in dialectic unity with differentiation by its application during the study of economic systems development, including supply chains. The differentiation is a problem, i.e. the nature of occurrence of a critical situation in the system stipulating the need to generate new goals for the interaction of its components; integration is a solution to a problem, the basis for the transition to a new stage of system development. The study results reveal that the main integration drivers are factors that ensure the complementarity and compatibility of system components. It is stated that the functionality is the first condition for integration, that is, the potential for the unhindered implementation of individual goals and objectives which are not destructive to the system. The homology is the second condition, which ensures the compatibility of system components. The integratedness is the third condition that can be defined as the degree of firmness of links between system parts on which the system stability and viability depend. The author notes the importance of permanent diagnostics of connections within and between the economic system and environment since inter-organizational links constitute a differentiation factor.

Integrated assessment of the efficiency of the development of the national of the economic system of the republic of belarus from the position of households

The article proposes a criterion for evaluating the effectiveness of the development of the national economic system of the Republic of Belarus from the perspective of households using a dynamic system of indicators, which allows for an integral assessment of the effectiveness of purposeful activities in dynamics and taking into account the development trends of the country's economy, as well as a reasonable approach to the development of mechanisms for achieving the set goals. development goals in accordance with the proposed performance criterion. The effectiveness of the development of the national economic system of the Republic of Belarus was assessed from the perspective of households for 2016– 2020. On the basis of the proposed efficiency criterion, the directions for achieving the goals of development of subjects of economic relations and the national economic system of the Republic of Belarus are determined.

TRENDS IN DEVELOPMENT OF MANAGEMENT ACCOUNTING IN GEORGIA

Trends in the development of management accounting in Georgia although the term management accounting has been used around the world since the second half of the 20th century, in Georgia, the scientists have been arguing about the essence of this phenomenon since about the 80s. Is it an independent science? Is it part of science that does not have an independent subject? This is pseudoscience, e.g., such a phenomenon does not exist at all and so on. The dispute is largely due to the reality of accounting science and practice in specific countries. It would be a mistake to think of management accounting as a novelty for the domestic economy. The accountant of that time was engaged both in accounting and in planning and analytical work. Along with the development of the socialist economic system in the country and the strengthening of central planning, there was a gradual separation from the Accounting Service of the Planning and Financial Departments, with the transfer of part of the accounting authority to them. As a result, the activities of the accountant were actually reduced to the accounting of the facts of the economic life of the enterprise. As a result, the activities of the accountant were actually reduced to the accounting of the facts of the economic life of the enterprise. Thus, summarizing the issues discussed above, it should be noted that management accounting - is an integrated system of cost accounting and revenue, valuation, planning, monitoring, and analysis which systematizes information for operational management decisions. The existing organizational structure of the enterprise should be regularly reviewed and revised to reflect the changes occurring in the economic activity (production of new products, technological change, change management, etc.), and the achievements of scientific and technological progress. In improving the organizational structure of enterprises, it is important to properly change the approaches to the preparation of internal reporting and performance assessment.

Resident Willingness to Pay for Ecosystem Services in Hillside Forests.

This study investigated the willingness of residents to pay for ecosystem services in a hillside forest in the Lanyang River Basin, which is among the most vulnerable watersheds in Taiwan. The economic value of provisioning, regulating, cultural, and supporting ecosystem services was evaluated. The Contingent Valuation Method (CVM) was applied for economic analysis of public welfare. The determinants of the economic values were identified. A total of 444 respondents completed the questionnaire. The results revealed that the four ecosystem services had high economic value, indicating that conserving hillside forests can ensure the welfare of nearby residents. The findings of this study can serve as reference for regional land planning and social and economic system development policies. In addition, this study addressed policy implementation from the perspective of ecological economics to contribute to an improved Anthropocene.

Russian economy: a systematic view

The article proposes a systematic description of Russian economy, in order to move from its unilateral definitions to its comprehensive assessment. This assessment is necessary to determine both the foundations of the current state of Russian economy and the prospects for its development. This characteristic is intended to reflect the level of development of the Russian economic system, its place in the system of world economy and its national peculiarities. The article deals with a set of features reflecting the internal structure of the Russian economic system: market situation, the system of reproduction, economy structure, the main socio-economic institutions etc., taking into account the historical development that led to the formation of the current state of affairs. Within the framework of this point of view, Russian economy appears to be a peculiar version of a mixed economy with a significant share of state participation and the structure of private property, formed largely as a result of its noneconomic redistribution. In such an economy there are no economic, institutional and social conditions that provide effective domestic sources of economic development. The national and cultural peculiarities of the Russian economy are determined on the basis of a variety of factors, ranging from natural-climatic, spatial, and up to socio-psychological formed, among other things, due to the influence of peculiar features of social relations’ historical evolution. Finally, the Russian economy place in the system of global economy is considered. It is defined primarily on the basis of qualities and level of Russian economic system development. The conclusion is made that Russian economic system meets the characteristics of semiperipheral economies. Such a characteristic of Russian economic system does not exclude the capability of its modernization, but makes it possible only in case of qualitative changes in the existing economic model.

The Role and Significance of Statistics in Economic and Social Development

With the rapid development and great progress of the social and economic system in China and the world in the new era, the application of statistics has played an increasingly important role in the development of the national economic operation system and economic society. Statistics is an important means of collecting, sorting, analyzing, processing, and demonstrating data related to economic and social development in economic development. The theoretical system and method play a key role in sorting out and analyzing the economic situation, process and trend of the Chinese people and the world. At the same time, it has extensive and far-reaching significance for governments and departments at all levels to scientifically formulate economic development directions, understand the laws of economic and social operation, and grasp the basic state of economic trends. This paper mainly starts from the basic concepts of statistics, combines the current situation of economic development, and explains and discusses the important role and effect of statistics in economic development according to the application and reaction of relevant knowledge of statistics in the current rapid economic development. profound meaning.

Modeling the Harmony of Economic Development of Regions in the Context of Sustainable Development

The study simulates the harmony of economic development of the regional economic systems in the context of sustainable development for the following successive stages: separation of indicators from the array of statistics in the regional context; standardization of indicators of economic development of the regional economic systems; use of correlation analysis to determine the integrated index of economic development of the regional economic systems; taking into account the coefficients of influence of indicators on the integrated index of economic development of the regional economic systems; determining the harmony of economic development of the regional economic systems using the hyperbolic Fibonacci cone; approbation of modeling the harmony of economic development of the regional economic systems. In accordance with the outlined stages, the proposed method was tested for the regions of Ukraine and an example was given in relation to the economic component of sustainable development. The highest integrated index of economic development is observed in Kyiv, and the lowest in Luhansk region, the difference between the values is 17.6 times. According to the results of calculations, the regions are grouped according to the harmonies of economic development, and cartographic analysis is given.

ФОРСАЙТ-ПІДХІД ДО ОРГАНІЗАЦІЇ ТА ФІНАНСУВАННЯ СТАЛОГО ГОСПОДАРЮВАННЯ

The substantive features of the foresight methodology as a means to implement sustainable economic management are revealed, the basic formats and algorithm for the organization of financing of sustainable economic management on the basis of foresight approach are outlined. Emphasis is placed on the need to update the methodology for managing the sustainable development of economic systems using the foresight approach. Foresight design is identified as an effective tool for proactive management of economic systems, which creates opportunities for the formation of financial and logistical chain of funding the projects that involve natural resources in economic circulation, taking into account key competencies and smart specialization of various spatial entities with the participation of key economic process stakeholders - government, business and population. Creating funds for sustainable development financing is proven expedient, three main formats of their functioning are proposed: budget - focused on the target of professional financial planning of budget expenditures for the future, taking into account foresight strategy; service - related to the target functions of public-private partnership and involvement of business structures and their resources in the implementation of foresight; project - aimed at the formation of balanced, from the standpoint of liquidity, profitability and capital structure of investment proposals, secured, in turn, by income from foresight projects. The structural scheme of step-by-step interaction of economic process stakeholders in the organization of sustainable financing of foresight in a platform format is proposed. The basic stages of financing the foresight project of sustainable development are outlined, including the stage of investment, when the public sector and business structures enter into agreement on partnership in the investment project; the issue stage when a special legal entity SPV with the participation of an independent rating agency and under the supervision of a state regulator issues and sells on the stock market securities secured by future income from the project; the stage of refinancing the project by SPV company for its completion or operation or modernization and settlement with investors and originators on the issued financial obligations, etc.

ENVIRONMENTAL PERFORMANCE OF CHINA'S ECONOMIC SYSTEM: INTEGRATIVE PERSPECTIVE OF EFFICIENCY AND PRODUCTIVITY

The high-quality development of regional economic system is inseparable from the collective efforts of multiple economic sectors. Increasing attention has been paid to the environmental performance evaluation of different administrative levels or economic sectors, but integrated research is scarce. Taking the three industries (the primary, secondary and tertiary industries) into account, this paper proposes a data envelopment analysis (DEA) model with parallel network structure to assess the environmental performance of 30 provinces in China from integrative perspective of efficiency and productivity. Then, the Tobit model is adopted to investigate the effects of external factors on the environmental performance. The results show that environmental efficiency of Chinese economy is only 0.4436 during 2010–2019 and the performance of the secondary industry is the highest, followed by the tertiary and the primary industries. Moreover, the environmental efficiency of eastern region is far higher than that of the central or western regions. Technological progress is the main driver of environmental productivity improvement for China’s economic system. Most of the external factors such as energy structure and technology innovation, have different effects on the environmental performance of different regions. Finally, several targeted policy implications are suggested for improving the environmental performance of China’s economic system.

Диджитализация предпринимательской деятельности как стратегия перехода к модели smart-предприятия

The modern dynamic development of the global economic system depends on many factors, but the phenomenon of digitalization plays a major role in this process. The phenomenon covers techniques and technologies, households and enterprises, management and production, as well as various aspects of society in general, i.e. everything from digital identity cards to cryptocurrencies. After three major industrial revolutions of the XVIII–XX centuries, the modern society is entering the era of the Fourth Industrial Revolution. It is based on advanced information and communication technologies, databases, and artificial intelligence. These technologies open up enormous opportunities for the modern entrepreneur to increase productivity, competitiveness, and added value. Artificial intelligence and new generations of robots will eventually lead to smart enterprises and the so-called Industry 4.0. Entrepreneurs must adapt to the new situation by introducing digitalization business strategies into their production and economic activities. This research features the digitalization of entrepreneurial activity in the global economic system. The research objective was to identify the main factors that affect the development of smart enterprises. It featured factors and structuring tools that develop digitalization business strategies. The author defined the concept of digitalization in the activities of business entities at the present stage of global economy and established the development factors, as well as the tendencies of the formation of smart enterprises. The research relied on standard methods of gaining scientific knowledge to define various aspects of digitalization in connection with the development of smart enterprises and the policy of Industry 4.0. The study clarified the term of digitalization as a multidimensional process that brings the real and virtual world together, thus becoming the main driver of innovation and changes in the economy. Its development depends on many different factors, which can be structured as follows: 1) The Internet of Things and The Internet of Everything; 2) ubiquitous connectivity (hyperconnectivity); 3) cloud-based apps and services; 4) big data analytics and big data as a service; 5) automation and robotization; 6) multichannel and all-channel models of distribution of goods and services. The leading trends in digitalization and smart enterprises included the change in management, transition to strategic management, convergence of multidimensional technologies, and modernization of human capital.

THE IMPACT OF SENSITIVITY ANALYSIS ON THE EVALUATION OF THE LOGISTICS PERFORMANCE INDEX

The logistics performance index (LPI) represents an important indicator of the state of logistics and its development in countries. The LPI is directly linked to the level of economic system development, and as such provides an adequate basis for the improvement of economy, through logistics and trade. The aim of this paper is to determine the impact of sensitivity analysis on the evaluation and ranking of the LPI in the Balkan countries, according to the report of the World Bank. Sensitivity analysis implies the change of the importance of six criteria based on which the LPI ranking is done. The multi-criteria decision-making model (MCDM), which consists of CRITIC and MARCOS methods for determining the LPI rank in the Balkan countries, was previously used. Criteria weights are simulated through 36 scenarios, whereby the weights of the observed criteria change in the range of 15% - 90%. The final results show that criteria values play very important role in the ranking of the Balkan countries, when it comes to the LPI.

Sustainability assessment of value flow of end consumer’s products and/or services

The purpose of article is to develop an approach to sustainability assessment of value flow of end consumer's products and/or services as a basis for improving the management system of corporate sustainability and sustainable development of economic systems and processes based on the study of patterns of consumer behavior and their decision to purchase products and/ or services. The research hypothesis is based on the assumption that sustainable development of the economy is determined by the sustainability of enterprises generating flows of products and/or services consumed by end consumers focused on receiving value flows. Terminological analysis, methods of grouping, typology and classification chosen as research methods, and binary matrices formed on the basis of qualitative attributes of object and it dichotomies used as tools to substantiate the scientific novelty of research. The following results are obtained in the article: the author's definitions of terms value, value flow, value sustainability and value flow sustainability; main consumption types of products and/or services from the perspective of sustainability; an approach to sustainability assessment of states, feelings and impressions of end consumer as basis for substantiating recommendations to improve the management of corporate sustainability and sustainable development of economic systems and processes.

Green economy in the conditions of modern challenges: conceptual frameworks

Ensuring the sustainable development of economic systems requires the introduction of organizational and managerial and environmentally friendly technologies and innovative business models aimed at reducing the negative impact on the environment. This is in line with the concept of "green growth" proposed by the Organization for Economic Co-operation and Development. As international experience shows, increasing the level of environmental safety of the national economy can be achieved through the implementation of conceptually new management tools based on integrated (combination of system, process, situational, functional) approaches to concept sustainable development. The purpose of the paper is to clarify the essence and content of the term "green economy" on the basis of generalization and systematization of existing conceptual approaches to the definition of this concept. Methodology. The methodological basis of the study is the scientific works of foreign and Ukrainian scientists on the problems of green economy, circular economy, and environmental management. The research was conducted using general scientific methods: analysis and synthesis – to summarize the existing conceptual approaches and provisions, scientific developments on the development of the green economy and greening of logistics systems, clarification of the terminology; classifications – to systematize theoretical approaches to the definition of "green economy", which are proposed by various scientific schools; structural and logical generalization – to clarify the essence and content of the term "green economy". Results. The evolution and preconditions of formation and challenges of the development of a green economy are investigated. The existing scientific approaches to the definition of "green economy" are analysed and generalized. Practical implications. The key goal of the transition to a green economy is to change the paradigm of logistics, rethink the value chain and develop new business models that must meet modern requirements and challenges in the global world. The practical significance of the results of the study lies in the possibility of developing recommendations for "green" transformation of logistics systems in a circular economy and regional strategies for industrial waste management in economic regions of Ukraine, taking into account their specifics. Value/originality. The author's approach to the formulation of the category "green economy" is theoretically substantiated.

INSTITUTIONS AND THEIR IMPACT ON THE ECONOMIC DEVELOPMENT: MIDDLE INCOME TRAP

The article is devoted to the study of the relationship between institutional and economic development of post-socialist countries. The author substantiates the relevance of the chosen topic for post-socialist countries, describes the essence and features of the middle income trap and explains the economic and institutional basis for its formation. The dynamics of economic development of 24 post-socialist countries for the period 2007-2020 is analysed based on World Bank data. Clustering by the method of k-means is made based on this analysis also. The interdependence between the level of institutional development and the level of economic development of the analysed countries was revealed by analysing the institutional indicators (international property rights index and corruption perception index) of post-socialist countries in 2020, which confirmed the main hypothesis of the study. The author describes the essence of the dysfunctional phenomenon of the institutional development paradox and its role in the institutional development of post-socialist countries in the context of overcoming the middle-income trap. It is established that the institutional dysfunctions formed in the transformation period continue to hurt the development of economic systems, including the economy of Ukraine. Based on the results, the author proposes practical recommendations for further implementation of the necessary institutional reforms aimed at avoiding the middle income trap economy of Ukraine. They include measures to further liberalize the economy, improve mechanisms to protect property rights, combat corruption and more.

THE INFLUENCE OF ECONOMIC MENTALITY ON SOCIO-ECONOMIC DEVELOPMENT

Abstract. The current stage of socio-economic development is characterized by structural reforms connected with forming of competitive market environment, development of various forms of ownership, formation of qualitatively new forms of economic activity organization, deepening integration processes. Authors underline inconsistenciesbetween the interaction of the formal and historically formed informal institutions actualizes the role of economic mentality, since it directly influences the general vector of socio-economic system development. The article draws attention to the informal component of the institutional environment — economic mentality, which haracterizes the historically formed values, motives and models of economic behavior of individual and collective actors that directly affect the overall vector of socio-economic system development and transformation.It is determined that economic mentality determines the dynamics of the institutional environment development of by influencing the effectiveness of formal and informal institutions interaction, ensuring the performance of complementary functions; mediates the process of institutionalization of historically determined values, stereotypes and models of economic behavior in the system of formal norms and rules; provides under the influence of other socio-economic factors adaptability and dynamism of nstitutional structure, promotes the formation and development of new institutions. The aim of this research is to explore the relationship between economic mentality as a a long-term determinant of economic behavior and international indicators of economic system development. The methodology is based on the correlation-regression analysis to reveal the dependence between the indicators of the national economies efficiency and the dimensions of economic mentality by G. Hofstede. As a result the significant links can be traced between Gross National Income, Index of Economic Freedom, the Global Innovation Index and economic mentality indicators of Individualism, Power distance and Uncertainty avoidance index. Keywords: economic mentality, social and economic policy, development strategy, corporate culture, economic behavior. JEL Classification C21, E03.3 Formulas: 9; fig.: 2; tabl.: 1; bibl.: 19.

PRINCIPLES AND MECHANISMS OF FORMATION OF REGIONAL ECONOMIC SYSTEMS

Topicality. The study of the development mechanisms of regional economic systems is an urgent task in connection with the reform of decentralization in Ukraine, which creates new opportunities for economic development of territories. The relevance of this study is determined by: the State Strategy for Regional Development 2021-2027 (Strategic Objectives � 1-3) [1], the Concept of Local Government Reform [2], the National Economic Strategy for the period up to 2030 [3]. In particular, these documents emphasize [1] the need to build competitive regions and functional areas by involving all actors in development and overcoming the inequality of socio-economic development of regions. Aim and tasks. The aim of the article is to determine the conceptual foundations and methodological principles of building and increasing the capacity of economic systems of territorial communities in Ukraine, as well as the formation of mechanisms for implementing relevant principles of forming and ensuring effective functioning of regional economic systems. Research results. The basic principles according to which the regional economy should develop are revealed. The problem of regional economic systems (RES) management from the point of view of network management is considered. The hypothesis of a new economic system is put forward. The connection of the institutional basis of RES with the goals of sustainable development is shown. The institutional basis for ensuring the effective development of regional economic systems in the context of local government reform is substantiated and the current principles are formulated, according to which territorial economic systems should function in accordance with the requirements of national and European regulations. Hypotheses about the need to supplement the existing list of principles of functioning of regional economic systems with the principles of structural and institutional support of their development are proved. The mechanisms of realization of the principles of functioning of regional economic systems in modern conditions are substantiated, which include instruments: tax, credit, financial-budgetary, organizational-infrastructural, property-legal. Measures are proposed to ensure effective economic cooperation of communities. Conclusion. The successful functioning of communities depends primarily on the activities of regional economic systems. The joint implementation of economic projects by communities is most conducive to their cooperation in all areas. The activities of the regional economic system must comply with the principle of structure and the principle of economic cohesion (economic solidarity). In the long run, these principles should lead to the emergence of a new solidarity-based economic paradigm.

ТИПОЛОГІЗАЦІЯ ІННОВАЦІЙНИХ ФАКТОРІВ ЕКОНОМІЧНОГО РОЗВИТКУ

The purpose of the scientific article is to outline the basic classification features and to typologize the innovative factors of economic system development according to certain features. Methodology. In the course of the research the method of typology was applied, which allowed to identify classification features and to group innovative factors of economic development; the theory of potentials, which allowed to present the innovation factor as a set of explicit or latent capabilities; method of dialectical approach in determining evolutionary and revolutionary factors; scientific principles of modern management in the division of innovation factors into strategic and tactical. Results. Types of innovative factors are identified depending on the following features: a) role in the development of civilization and the inherent economic system, b) type of management, c) strength, d) the ability to track the behavior of the factor and control its action and outcome. The first feature allows us to outline such types of innovation factors as revolutionary and evolutionary, the type of management highlights strategic factors and tactical factors; control capabilities require the delineation of latent and explicit factors; The fork of action allows to classify the factors into those that have a great potential impact on economic development and those that have little potential impact. Practical meaning. The proposed classification allows to identify factors and identify their role in the development of regional economy, which in turn allows regional authorities to optimally spend resources to support a particular type of innovation activity, depending on what role this type of innovation activity plays in building regional competitiveness.

Development of a Methodology for Forecasting the Sustainable Development of Industry in Russia Based on the Tools of Factor and Discriminant Analysis

The problem of sustainable development is one of the central issues on the agenda of the global community. However, it is difficult to assess the pace and quality of sustainable development of individual economic systems—in particular, industry—due to the lack of a unified methodological approach. In this regard, the following research goal was formulated—to develop and test a methodology for forecasting sustainable development by using statistical tools. The achievement of the goal was facilitated by the application of formalization methods, factor analysis, discriminant analysis, the method of weighted sum of the criteria, and the method of comparison. The results of the study are new scientific and practical solutions that develop the ability to diagnose economic systems for the transition to environmentally friendly production. Firstly, methodological solutions are proposed to assess the nature of the transition of industry to sustainable development (low, medium, or high rate). The methodology is based on the proposed aggregated indicator of sustainable industrial development based on the results of factor analysis (by the method of principal components). As a result, the patterns of sustainable development of the extractive and manufacturing sectors of the Russian economy are revealed. Secondly, integral indicators of economic, environmental and social factors of sustainable development are calculated, and classification functions for each type of industrial transition to sustainable development (low, medium, or high) are formed through discriminant analysis. Scenarios of industrial development are developed, taking into account the multidirectional trajectories of the socioeconomic development of the country. Thirdly, the DFD model of the process of scenario forecasting of sustainable industrial development is formalized, reflecting the movement of data flows necessary for forecasting sustainable industrial development. It is revealed that the manufacturing industry is expected to maintain a low rate of transition to sustainable development. On the contrary, for the extractive industry, if efforts and resources are concentrated on environmental innovations, average transition rates are predicted. The uniqueness of the proposed approach lies in combining two types of multivariate statistical analysis and taking into account the indicators that characterize the contribution of industrial enterprises to sustainable development.

Metatheoretical Issues of the Evolution of the International Political Economy

The topicality of the international political economy is determined by the complexity and dynamism of transformation processes in the world economic system, which are developing through information networks and financial technologies. The purpose of the article is to reveal the meta-theory elements of the international political economy in the context of their renewal in the context of the world economic system development in the wave of “information society”. To obtain scientifically sound results, the article uses the historical–logical method, the dialectical method of proceeding from the abstract to the concrete, institutional and evolutionary approaches. The article develops theoretical and methodological foundations for developing the international political economy. It is substantiated that the research agenda of the international political economy is characterized by socio-integrative trends of economic development in the global dimension. The interaction among actors of international relations is analyzed, and the structural components of their functional transformation under the conditions of integration processes advance within the world political and economic space are determined. It is concluded that the international political economy serves as a theoretical foundation, an integral general theoretical basis for establishing adaptive conceptual frameworks for building trust and solidarity among the subjects of the world economic system. Theoretical and methodological principles of the international political economy should be based on analyzing systemic and structural transformations of the world economic system; determining the criteria of social legitimacy of international authorities, based on the norms and values of social and environmental justice; and developing conditions for fulfilling the individual’s creative potential the field of world social capital.