Factor In Economic Development Research Articles

СТРАТЕГІЧНЕ ПЛАНУВАННЯ СТАЛОГО РОЗВИТКУ ТЕРИТОРІЙ: ПРОБЛЕМИ ТА ПЕРСПЕКТИВИ

The article defines the place of planning in the system of strategic management, reveals modern trends, limitations and opportunities for its development. It is noted that strategic planning of sustainable socio-economic development of territories is a widely demanded practice of management activity. The most frequently used approaches to analyzing the state and choosing ways to solve the problem of regional sustainable development, as well as approaches based on monitoring the main determinants of the rates of economic growth and sustainable development, are defined. It is noted that the modern approach to the sustainable development of regions requires the creation of a balance between the economic, social and environmental components. The economic components of sustainable development are determined through growth, productivity and the fairness of the distribution of material goods. Social components include participation in decision-making, creation and promotion of social welfare for all population groups. Environmental components include preservation of physical and biological diversity and protection of natural resources. The author emphasizes that the problem of substantiating the theory of strategic planning and management is that the strategic process as a whole at the macro, micro or nano level involves the functioning and interaction of completely different components. They include: the object of strategic planning; subject of strategic planning; strategic planning process; strategy as a result of the strategic planning process. Attention is focused on the fact that the planning of sustainable development of regions should be based on the analysis of the state and capabilities of each of the territorial communities of the region and the region as a whole, under the influence of selected economic, social and environmental factors of development. The limitations and possibilities of strategic planning in the socio-economic development of territories are substantiated. It is concluded that the strategic planning of the sustainable development of territories is a continuous process that must be frequently monitored and updated. It involves the integration of many sectors and institutions, the use of innovation and technology, the promotion of community cohesion and sustainable economic growth.

The Challenges of Industrialization in Nigeria and The Way Forward

Industrialization is a major factor in economic growth and development of any nation. The availability of essential goods and services, improved living standard, stimulation of other sectors of the economy, poverty reduction, job creation, development of skilled manpower are all elements of any nation’s level of industrialization. In Nigeria’s case, a plethora of policies, programs and strategies have been formulated towards the advancement of industrialization process since its independence in 1960. One of the key considerations for these industrial policies in Nigeria is gained from the conviction that the growth of industries would provide the avenue for employment of labour, thereby reducing poverty to the lowest level. These policies have proved abortive due to myriad of challenges, including incessant power outages, lack of finance/capital, multiple government taxations, and insecurity. This study, therefore, aims to highlight the challenges of industrialization in Nigeria, as well as the way forward. To achieve this, the study adopts the qualitative methodology which includes the narrative and descriptive analysis of data, and involved investigations and eliciting relevant information from the secondary sources. The adoption of Schumpeter’s Innovation Theory was used to explain the importance of entrepreneurs as catalysts for industrialization through their innovative activities. The study concludes that the creation of a business-enabling environment is required for the needed industrial base in order to diversify the economy. This study, therefore, recommends that government should formulate and adopt policies that would encourage trade performance, local manufacturing, self-reliance and entrepreneurship among citizens as well as industrial advancement to promote economic growth. Since industrialization facilitate economic growth through the innovative activities of entrepreneurs, the range of financing instruments available to SMEs and entrepreneurs should be expanded to enable them to continue their role in investment, growth, innovation, and employment.

УПРАВЛІННЯ РОЗВИТКОМ КОМПОНЕНТІВ МОРСЬКОГО КЛАСТЕРУ НА ШЛЯХУ ДО НАЛАГОДЖЕННЯ ІНТЕГРАЦІЙНИХ ПРОЦЕСІВ ТРАНСПОРТНОЇ СИСТЕМИ КРАЇНИ

The article considers the concept of a cluster, the special attention is paid to maritime clusters. The purpose of the article is to analyze the Ukrainian maritime clusters enterprises indicators, determine the condition of the integration potential implementation in the system of strategic development of the state, and develop recommendations for finding ways to preserve pre-war volumes of transportation. World experience shows that in the conditions of globalization, such a high-tech industry as the transport industry develops most successfully on the basis of regional innovation and industrial clusters. Over the past decade, in many countries, the traditional sectoral form of business organization has been replaced by clusters – informal associations of large leading companies with an unlimited number of small and medium-sized enterprises, technology centers, design and construction firms, related market institutions that interact with each other within a single value chain located at a relatively short distance from each other in the same region. Clustering makes it possible to form a comprehensive approach to the state development policy of the country and its regions, taking into account the potential of economic entities. At the current stage, the world economy is characterized by the deepening of integration processes, which necessitates the reorientation of the national economy to modern processes in the world economy. The implementation of integration functions is an important factor in the modern economic development of the state and currently acts as a separate promising aspect of forming the basis for a qualitative breakthrough in the country's economic development. In the Ukrainian transport system, in its performance of the transit role and integration functions, all components of its maritime clusters are of great importance: ports, shipbuilding factories, stevedore companies, companies providing forwarding and agency services, universities, certification agencies. All these components require an effective management strategy as a complete production and economic system, which should be based on an integrated approach.

КЛЮЧЕВЫЕ АСПЕКТЫ ФОРМИРОВАНИЯ ИННОВАЦИОННОЙ СТРАТЕГИИ РАЗВИТИЯ ПРЕДПРИЯТИЯ В УСЛОВИЯХ ЦИФРОВИЗАЦИИ

The key innovative technologies of Industry 4.0 are considered, which make it possible to increase the efficiency of production and business processes. The necessity of developing and forming a strategy for advanced innovative development of enterprises is substantiated. The scientific novelty and practical significance of the work lies in the fact that as a result of the study, the conditions for the successful implementation of innovative development at the enterprise, as well as the key stages of its formation, are formulated. A classification of innovative development strategies is proposed. For a better understanding of the features of the company’s transition to a strategy of advanced innovative development, the key factors of advanced economic development have been identified.

Оценка уровня цифровизации и устойчивого развития в странах европейского региона

The world economic development nowadays is characterised by the significance of digital innovations and sustainable development in all areas of production and management. However, the existing literature still cannot explain how environmental, economic and social factors of sustainable development corresponding to these innovations affect the new global ecosystem, based on the introduction and adaptation of digital technologies and achievement of the United Nations Sustainable Development Goals (SDGs) at the national level. The article presents the results of the authors’ assessment and classification of countries according to the achievement of the SDGs and implementation of digital innovations in the national and global economy. The empirical analysis utilises the data on the digitalisation performance indicators of the Global Innovation Index (GII) and the Sustainable Development Goals Index (SDG Index). The country assessment matrix was classified in terms of digitalisation and sustainable development and tested on a sample of European countries. Cluster analysis of 39 European countries identified four homogeneous clusters, which have distinctive systemic characteristics: advanced countries, catching-up countries, locomotive countries and leaders in sustainable and digital development. The identified clusters ex-pand the possibilities for substantiating socio-economic and technological strategies at the country – region – industry level. Russia is revealed as one of the eleven catching-up countries. The paper specifies the directions of the strategy to achieve the target digitalisation and sustainable development in the process of integration of the SDGs into national indicators. The proposed assessment can be used to adjust the state policy for the co-development of digital innovations and sustainable development indicators.

UN Women Structure: Work in the African Direction

Political, economic and cultural factors of development have become a powerful catalyst for the women’s movement on the African continent, which has intensified in the last decades. One of the African women’s gains was the right to participate in various socio-political organizations that significantly influence the internal policies of governments. Among the international organizations focusing on gender equality and human rights issues is UN Women, which celebrated its 10th anniversary in January 2021. UN Women promotes cooperation with national governments and civil society organizations to develop a legislative framework, social policy, targeted programs and services for the implementation of standards of gender equality and justice. The above involves the equal participation of women in social, political, economic and cultural activities. The focus is on the following priority areas: leadership and decision-making level; violence against women; peacemaking and security; women’s economic empowerment; adoption of gender equality in national development planning and budget policy development. The UN Women structure coordinates and supports the work of the entire UN system aimed at achieving gender equality, and all discussions and agreements related to the 2030 Agenda. The work carried out in African countries by the staff and volunteers of the UN Women structure is diverse and fruitful both in the involving African women in economic processes, and in the enhancing their participation in the socio-political life. However, this organization needs more support from national governments, since gender equality and the empowerment of women is a must for comprehensive, equitable and sustainable development.

ИНФЛЯЦИЯ В СИСТЕМЕ ФАКТОРОВ РЕГИОНАЛЬНОГО ЭКОНОМИЧЕСКОГО РАЗВИТИЯ

The article sets the task from a theoretical point of view to substantiate the relationship between inflation and regional economic development. The study from the position of the factor approach proves that the factors of inflation have an impact on the economic development of the region, as well as that inflation is a factor of regional economic development. The author’s classification of the factors of regional economic development is presented, demonstrating their relationship with the factors of inflation. The results of the analysis can be useful from the point of view of developing an effective policy for managing regional development and identifying the causes of interregional differentiation of socio-economic development.

КРЕАТИВНАЯ ЭКОНОМИКА: МИРОВАЯ ПРАКТИКА И ВЫЗОВЫ ДЛЯ РОССИИ

A significant segment of the modern economic system is the creative economy, which is rapidly developing and progressing on a global scale. The rise of the creative economy is taking place against the background of the crisis, which has posed new challenges to the world community related to the search for the latest directions for the development of the world economy. In the developed countries of the world, the importance of creative industries for the modern economy has been recognized and declared one of the priorities of their development. Therefore, creative thinking inherent in creative industries in modern conditions becomes an important source of new ideas and non-standard solutions, which leads to the revival or rebranding of cities, regions and countries, the creation of new goods and services, the promotion of ideas of ecological and sustainable development, increasing global communication and the development of individual territories. Undoubtedly, the global market of creative industries is currently developing quite rapidly and mobile, which requires from our state and domestic entrepreneurs high adaptive abilities corresponding to global trends. In the article, the author proves that the creative potential of a person is an important factor of economic stability and sustainable development of the domestic economy, and creative industries allow generating profits, creating new jobs and new industries, filling the budget, etc.

The Role of Renewable Energy in the Transition to Green, Low-Carbon Power Generation in Asia

An essential factor in a nation's economic development is energy. Among the various energy sources, renewable energies have demonstrated that they can replace fossil fuels in electricity production without harming the environment and are a trustworthy and affordable source to meet future energy requirements. Asia is now involved in an energy and economy transition process to move away from a fossil fuel-based energy matrix toward a green economy, where electricity generation will depend on renewable energy. This shift should be carried out and supported by governments and energy industries in different countries. The manuscript aims to provide governments and industry representatives with the latest information they need to guide the energy transaction to a green economy, minimizing the harmful ecological and environmental impact.

INFORMATION AND COMMUNICATION TECHNOLOGIES AS A VECTOR OF THE DIRECTION OF E-GENERATION OF THE COUNTRY

In the modern post-industrial society, information is gaining more and more importance and the properties of a strategic resource, becoming a decisive factor in modern political and economic development. Today, the information product is the basis of increasing the production of material goods and one of the determining factors of the democratic transformation of management. The informational role in the preparation and adoption of highly effective decisions makes high demands on its quality in the process of forming the information technology system in public administration. Over the past two decades, information and communication technologies (ICT) have contributed to a dramatic transformation of society, culture, and the economy. The world has witnessed changes brought about by the rapid advancement of technologies in the ICT ecosystem such as social media, big data and the Internet. Mobile technology and broadband access are already widespread in developed countries and are now expanding rapidly in developing and emerging markets. Social media has significantly affected the way people interact with each other and with their governments. Open government data and cloud computing combined with increased mobile consumption have further enriched economic systems. The article reveals the place and role of information and communication technologies in the conditions of transformation of state administration and the business community. The role of information and communication technologies as an authoritative and significant factor at the state level is explained. It has been confirmed theoretically and from a practical point of view that information and communication networks and systems are an independent environment in which the latest business processes and economic principles on the issues of effective state management, affecting all sections of society, are generated. For the successful implementation of projects and their management in the field of electronic government, it is very important to understand that information technologies act only as a tool for the transformation of administrative processes and structures and cannot by themselves solve the problems facing state structures.

A study on the influencing factors of Tianjin's economic development based on the entropy method

Due to epidemic factors, Tianjin's economy has declined year by year. To explore the influence factors of Tianjin's economy with the different planning, this paper uses the entropy method to study the economic quality, urban civilization degree, ecological civilization construction, happiness, and governance ability. This paper found that Tianjin lacked innovation and a driving force. This paper puts forward the corresponding suggestions and solutions based on the above analysis.

Identification of social and economic factors of human capital development in HRM

Goal: to rank the socio-economic factors of extension of human capital. Research methodology: the conceptual dominant of the research methodology is the statement about the possibility of considering human capital as a multi-parameter socio-resource component of the vector of sustainable innovative development of a modern organization. The validity of this statement is illustrated by the solving the poorly structured task of identifying the determinants of a decrease in the unemployment rate (one of the key parametric characteristics of human capital) that is relevant using a system of interrelated methods of system analysis and econometric modeling. Findings: evidence of the possibility of using expert-econometric tools for a comprehensive multifactorial assessment of the variation in the parametric characteristics of humancapital and the choice on its basis of priority areas for its development (increment); identification and ranking of statistically significant factors that determine the main vectors of the strategic policy for the development of human capital. Originality and contribution of the authors: this study substantiates the algorithm for systemic expert-econometric analysis of the determinants of human capital growth using the TOPSIS method, which has demonstrated effectiveness in terms of completeness, objectivity and clarity of the results of multi-criteria assessment in a complex system of managing the human resource component of sustainable innovation economic trends. Using the results of the study to analyze the causes of fluctuations in the unemployment rate and identify (rank) the most significant of them will help increase the sustainability of human capital development management.

Методи регуляторного впливу на малий і середній бізнес у країнах Європи

The article shows the importance of regulatory policy in the context of support and development of small and medium-sized enterprises (SMEs) in Europe. The authors have demonstrated how different regulatory instruments affect SMEs in an international context, especially in the face of rapid global and technological change. It is emphasized that SMEs are key players in European economies that create a significant number of jobs and foster innovation. As regulatory policy has a direct impact on the stability and predictability of the business environment, its role in shaping the conditions for SMEs is crucial. The article emphasizes the importance of harmonization of norms in the European Union and its impact on the cross-border activities of SMEs. The specific features of the application of various instruments for regulatory impact assessment, including RIA (Regulatory Impact Assessment), the iREG (International Regulatory Evaluation Group) survey and the Regulatory Quality Index, are analyzed. It is shown that a significant advantage of the Regulatory Quality Index over other methods is the consideration of a wide range of aspects of regulatory policy and the ability to generate a numerical expression of the quality of regulatory policy, which makes it possible to compare countries and regions. Each of these instruments is considered in terms of its potential, advantages and limitations in the context of analyzing the impact of regulatory policy on SMEs. The need for a combination of different assessment methods to obtain a complete and balanced view of the quality of regulatory policy is emphasized, which represents a multifaceted approach to understanding and improving the regulatory environment that contributes to the development and competitiveness of SMEs in Europe. It is shown that the regulatory policy of the European Union and Ukraine in relation to small and medium-sized businesses has a number of differences, which can be explained by different institutional frameworks, level of economic development and historical factors.

Fractal Theory-Based Analysis of Architectural Form Design for Rural Dwellings in Plain Regions: A Case Study of T Village in Z City, H Province

Fractal theory is a nonlinear research method that uses fractal geometry to study complex phenomena. This study applies fractal theory to analyze the individual housing units, spatial environment, and other influencing factors in T Village, a region located in the central plains of China. The analysis highlights the importance of considering local integration, the construction of a harmonious relationship between humans and the natural environment, and the impact of political, economic, and urban development factors on housing design. The aim of this study is to provide a broader path for the design of rural housing in the central plains region.

ФИНАНСОВАЯ ИНКЛЮЗИВНОСТЬ КАК ФАКТОР СОЦИАЛЬНО-ЭКОНОМИЧЕСКОГО РАЗВИТИЯ

The purpose of the article is to reveal scientific and practical approaches to the definition of the concept and place of financial inclusion in the system of factors of socio-economic development. The methodology of the research is based on the application of methods of theoretical generalization and abstract-logical analysis in the systematization and generalization of scientific approaches to understanding financial inclusion. As a result, we have studied the evolution of the concept of «inclusion» from the sphere of analysis of social processes at the level of social groups (including various social relations) to the macroeconomic level. It is revealed that various interpretations of the concept of «financial inclusion» contain its definition as a «process», «stage» or «state» (development). Financial inclusion is established to be one of the factors of economic development, and also the need to study the role of financial inclusion among the factors of socio-economic development is justified. The author's definition of the concept of financial inclusion is proposed. An alternative view on the definition of financial inclusion is substantiated based on its opposite – financial exclusivity, which is either voluntary (self-exclusivity) or compulsory and is determined by four groups of reasons. The consensus formed in the scientific literature on the three main components of financial inclusion: coverage, use and quality of financial services is analyzed. Positive factors and risks of financial inclusion development, as well as negative aspects of financial exclusivity are identified.

ЦИФРОВІЗАЦІЯ РОЗВИТКУ ЛЮДСЬКОГО КАПІТАЛУ

The article analyses the processes of digitalization of the economy and information space as crucial factors of economic growth in a modern convergent society. Attention is paid to issues related to the quality of human capital development. The aim of the research is to analyze the development of human capital in the conditions of digitalization, the prospects for further deepening of digital transformations at enterprises, and the assessment of the readiness of the legislative framework and legal regulators in this area. Foreign and domestic studies of digitization with an emphasis on human capital are analyzed. It has been studied that the center of all changes in the information society is the process of human capital transformation. The significance of the role and development of human capital in the process of digitalization is proved by a great number of scientific research and specific surveys of different organizations and business structures. The opinion in our analytical research was formed that the formation of the human capital of enterprises may be a key factor of economic development because human resources play an important role in informatization, digitalization, and virtualization not only in the sphere of economics but also in other spheres. Implementing information technologies in the sphere of production, services, and trade is the basis for creating corporate networks and implementing data analysis with the help of artificial intelligence. Increasing the level of digitization of human capital can be developed by Ukrainian business entities at the level of highly developed countries of the world. According to the analysis, this condition can be reached with the implementation of governmental regulations on the macro level of the economics and then building the strategy for the digitalization of Ukrainian enterprises. It is noted that for the complex digitalization of the economics, there is also a need in changing the education system, including adaptation to global challenges, creation of new flexible specialties, and improving the requalification strategy of human resources.

Cultural or Economic Nation? The Concept of “Cultural Economy” in the Contemporary Germany‘s Political Discourse

The conceptualization and dissemination of the concept of “cultural economics” has significantly influenced the idea of culture in Germany. In recent decades, culture is increasingly represented as one of the most important factors of economic development, whereas cultural economy as one of the most significant economic sectors with a large number of employees and impressive revenues. Based on the methodology of historical semantics and historical sociology, the article provides a multifaceted study of the concept of “cultural economics”. The concept has become an indicator and driver of the revision of cultural policy in Germany in recent decades, which has led to significant changes in both institutional design and discourse about culture. The introduction of this concept into the election campaign texts of the largest political parties in Germany entailed a modification of the political discourse about culture. This has led to the fact that sections of election programs dedicated to culture increasingly contain financial, economic and industrial vocabulary. Such changes in the political discourse about culture have led to a new contextualization, resemantization and a change in the relationship between the basic concepts of “cultural nation” and “economic nation” in relation to contemporary Germany.

Preduzetnički potencijali u BiH u kontekstu aktuelnih socio-ekonomskih kretanja

This paper explores the pivotal role of entrepreneurship in economic development and the maintenance of a stable social structure. Entrepreneurship, as a combination of labor, creativity, capital, and technology, generates innovative products, services, and socioeconomic activities, becoming increasingly significant in post-industrial societies. Its efficiency, particularly in the development of small businesses, is becoming crucial in mitigating the influence of the corporate world. In the specific context of Bosnia and Herzegovina, entrepreneurial spirit and the potential of citizens emerge as key factors for economic development and social stability. The paper utilizes a theoretical framework encompassing the characteristics of entrepreneurship, along with social, economic, cultural, and educational assumptions for its development, aligning them with the current socioeconomic conditions in the country. Empirical research analyzes the motives, ambitions, and readiness of citizens to initiate their own entrepreneurship in Bosnia and Herzegovina, with a specific focus on unemployed youth and their social integration as drivers of socioeconomic development.

ОКРЕМІ АСПЕКТИ ІНСТИТУЦІОНАЛІЗАЦІЇ ЕКОНОМІЧНОГО РОЗВИТКУ ЦИФРОВОГО СУСПІЛЬСТВА

The article analyses the creation of inclusive institutions to ensure economic development. The authors aim to identify the institutional factors of economic development that have emerged as a result of digitalisation and determine the emergence of inclusive institutions in the digital society in Ukraine. Attention is focused on those phenomena and processes related to the economic sphere that determine the emergence of characteristic (attributive) features of a digital society: the role of digitalisation in economic development, factors of institutionalisation of a digital society, and institutional support for economic development. The article considers the content and features of the digital society, internal institutional transformations, and the impact of socio-cultural factors on institutionalisation. It is proved that digitalisation has become an instrument of virtual socialisation and institutionalisation, accumulation of institutional and socio-cultural potential of the digital society. The author highlights the technological aspect of institutionalisation and institutional features of the digital society formed as a result of the use of digital information networks. The factors that reduce the disparities in the internal socio-economic structures and incomes of people are identified. The role of digitalisation and informatisation in the processes of socio-cultural change is shown. It is proved that the institutionalisation of a new system of social values, the increase in social and creative capabilities of a person, the spread of virtual forms of labour organisation are associated with the use of a computer as a widely available means of production. The factors that weaken social ties in the digital society and are associated with the deepening of social differentiation are identified. The role of digitalisation in the process of institutionalisation and formation of inclusive development institutions is shown. The prospects for economic and social development are determined by the transformation of political and economic institutions towards greater pluralism. Institutional changes are considered in the context of the processes of continuous historical struggle between exclusive and inclusive institutions to form a new institutional structure of the digital society.

Foreign Economic Strategy and Innovative Economic Development of Uzbekistan

In the concept of socio-economic development of Uzbekistan until 2030, a macroeconomic policy aimed at ensuring sustainable economic growth and fighting against poverty, as well as increasing the competitiveness of national exports is recognized as an important economic basis. Successful implementation of the Concept of integrated socio-economic development of the Republic of Uzbekistan until 2030, as well as Development Strategy of New Uzbekistan for 2022-2026 undoubtedly, require significant attention to external factors of economic development, including promotion of competitive exports. Today the issue of regulation of global socio-economic processes is one of the most important issues at the international level. The World Trade Organization (WTO), as a legal and institutional body of the multilateral trading system, is an international organization that enjoys differen advantages in the process of free goods exchange. At present, 164 countries are members of this organization, and the accession of Uzbekistan to the World Trade Organization (WTO) has caused a variety of observations among experts and scientists.