Stability Of Economic System Research Articles

Directions for the development of the innovative potential of industrial enterprises

The article provides a comparative assessment of various scientists and economists studying theoretical approaches to sustainable strategic development of innovative potential of industrial enterprises. The conducted research identifies the main directions of the theoretical approaches to its study, both by Russian scientists and foreign ones. In this regard, it is necessary to pay more attention to the processes aimed at ensuring stable economic growth and, perhaps, even be unable to influence them. In the context of transforming global economic relations, the stability of economic systems is a key element of the development and strategic growth of the innovative potential of industrial enterprises. It is needed to introduce and use various theoretical approaches in the process of forming directions for the strategic development of this potential contributing to the effective establishment of the industrial complex. Methodological approaches of scientific research to the conceptual and essential characteristics and categorisation of the innovative potential of industrial enterprises as part of the economic system are also considered and systematised. The obtained results of the conducted research can be used in assessing the theoretical foundations aimed at studying the theoretical directions of industrial and spatial development of the country’s economic sectors and at the strategic development of the innovative potential of industrial enterprises.

Modelling a financial literacy strategy as a life project concept

Financial literacy as a key element of ensuring sustainability and stability of economic systems is becoming important in the process of economic development. Financial literacy contributes to improving the well-being of citizens and the efficiency of financial resource management at the macro level. Thus, the purpose of the present study was to develop models for evaluating the effectiveness of various financial literacy strategies and their impact on the formation of life projects. A complex of scientific methods, including the analysis of statistical data and modelling of financial behaviour, was used to create a strategic model of financial literacy as a concept of a life project. A methodological approach, encompassing the decomposition of the stages of a person’s life and the identification of the peculiarities, connected with the use of money at each of these stages, was implemented in the research. Approaches to financial literacy focused on various forms of interaction with financial resources were suggested, and effective strategies for improving financial literacy were identified. The concept of financial literacy was examined and specified through the lens of knowledge, skills, and confidence for making responsible financial decisions. The advantages and disadvantages of developing financial literacy in Ukraine were identified, and examples of successful strategies of leading countries were provided. The importance of financial education at different stages of a person’s life was substantiated; the key periods of a person’s life and development, when money can act as earnings, expenses, accumulation, preservation, and transfer, were specified. The assessment of the influence of financial literacy on economic behaviour was carried out, and a life project model that takes into account financial decisions and actions was developed. Monetary models of preservation and accumulation of parental income, pocket money, and earnings from employment were considered in detail. The results of this study can be applied in practice when creating a state strategy aimed at increasing the level of financial literacy of the population and ensuring economic security

A structural model of mutual influence of human capital development and regional academic ecosystems in the context of socio-economic diversity of the Russian Far East

Subject. This article discusses the issues of the Russian Far East research and production capacity development, population migration, and its impact on the economic system's stability. Objectives. The article aims to develop mechanisms for cooperation between government officials, entrepreneurs, and heads of educational centers of the Far Eastern Federal District, and identify the key economic and demographic problems, the solution of which can contribute to the human capital development. Methods. For the study, we used a systems analysis. Conclusions. The article concludes that it is necessary to strengthen the role of regional universities in the training of specialists. The quality of human capital is negatively affected by the imbalance of supply and demand in the labor market, shuttle migration, outflow and population decline. The Russian Far East regions lagging behind the other regions of the country in terms of the number of students is a threat to the unity of Russia's economic space.

Специфика цифровизации в России и регионах в условиях неопределенности

The purpose of the article is to reveal the specifics of digital development in Russia and its regions in the conditions of increasing uncertainty and to determine the directions of state policy that would ensure improvement in the economic system's stability. The authors use the analysis of theoretical literary sources, analysis and synthesis, systematization, comparative and economic analysis. Research identified three periods of uncertainty. Despite the positive dynamics of digitalization, in the period before the pandemic, the digital development of Russian regions was uneven. The uncertainty caused by the COVID-19 pandemic has led to the intensification of digital development, as well as launched new socio-economic transformations. The study revealed the tendency to increase expenditures on regions’ digitalization during the period of geopolitical tension and determined state policy directions for overcoming the negative impact of geopolitical uncertainty on economic systems. Financial and economic uncertainty has not become an obstacle to the development of a digital society. On the contrary, the expansion of digital infrastructure and social progress created conditions for its intensification.

ФАКТОРЫ УСТОЙЧИВОСТИ РЕГИОНАЛЬНЫХ ЭКОНОМИЧЕСКИХ СИСТЕМ

In this paper, the issues of sustainability of regional economic systems are considered. In particular, this paper examines and systematizes the factors of stability of economic systems and their indicators.
 The functioning of the regional economic system is influenced by internal and external forces that can lead to the destabilization of the economic environment of the region. An unstable economic environment can lead to a sharp decline in the production of the main economic sectors of the region, therefore it is necessary to increase the stability of regional economic systems.
 In this paper, the analysis of the following indicators is carried out: the dynamics of the number of enterprises and organizations by regions of the Russian Federation; the dynamics of the workforce; water intake from natural water bodies for use. The analysis showed that, despite the fact that the regions of the Russian Federation as a whole are quite stable, three main factors of regional economic systems must be taken into account to stabilize economic development.

Evaluation of the implementation of the state program of the Russian Federation "Development of the nuclear power industry" in order to ensure the economic security of the country

The subject of the study is to study the effectiveness and efficiency of measures for the development of the nuclear energy industrial complex, taken during the implementation of the relevant state program. Data from nuclear energy, investments and innovative projects are analyzed, taking into account compliance with the strategic goals of economic security. These measures are designed to ensure the stability of the Russian economic system and minimize potential risks. An important component of the study is also the analysis of the compliance of these measures with the general state strategic goals of ensuring economic security. The study is based on an analysis of data on the current state of the Russian nuclear energy sector, investment and innovation projects implemented within the framework of the program under consideration, as well as an assessment of their impact on the economic situation of the country. The research methodology includes a comprehensive analysis of the current state of the nuclear energy industrial complex, as well as a study of investment and innovation projects implemented within the framework of the program. The assessment of the implementation of the state program of the Russian Federation "Development of the nuclear energy-industrial complex" allows us to say that the analysis of program implementation indicators shows positive dynamics and achievement of the set goals. High performance indicators, such as a high degree of readiness of power units, an increase in electricity generation, an increase in the number of results of intellectual activity and the creation of new jobs, indicate the successful implementation of the program. The results of the study will be useful for developing further strategies and adjusting program measures aimed at increasing the stability of the economic system and minimizing risks, taking into account national strategic goals.

Dynamics of stability of the world economic system

<abstract> <p>The current global economic crisis has actualized the problem of studying non-equilibrium processes in the economy. To approach the problem, a discrete dynamic model (DDM) was developed that describes the dynamics of the rate of change in the global GDP for the period 1961-2021. This paper publishes the results of studies of two types of stability. The first is connected with the global economic system stability, which can be described by a DDM in different time periods. The second studies sensitivity of the DDM to the annual GDP growth values that were used to construct it (sensitivity analysis). The conducted research depicted the various periods of development of the global economic system, characterized by varying degrees of stability. The DDM determined that during periods of crises, the stability of the global economic system decreases. Our studies have shown that at present the world economic system is on the verge of a complete loss of stability. To assess the sensitivity of the DDM to the input data, a sensitivity indicator was introduced. It was found that the DDM is insensitive to input data during periods of crisis, i.e., the results obtained are reliable. In turn, periods of stable development of the global economic system are characterized by less reliability in the DDM results.</p> </abstract>

Проблемы экономической устойчивости нефтесервисных компаний в условиях высокотурбулентной среды.

The article discusses specific features of oilfield services company functioning as a part of Russian oilfield services which are the driver of Russian oil-and-gas industry. The key features of the formation of the Russian oilfield services market are noted as follows: a short time of formation in comparison with evolution of the worldwide oilfield services market and high turbulence of the business environment together with characteristic sighs of the oilfield services companies such as high degree of innovation and advanced management. The purpose of study is justification of influence factors and key risks for sustainable economic development of oilfield services company under dynamically changing external conditions. The main theoretical ideas about the construction of business models of the company are analyzed and the definitions of such basic terms as sustainability and sustainable development are considered. The oilfield services company definition as an open complicated industrial and economic system with multilevel internal links was done. The possibility of applying classical concepts of the theory of stability of economic systems to oilfield services market objects is estimated. The key factors are identified and the effects of the external economic environment are generalized, the assessment of the possibility of using various types of well-known business models for the oilfield services company is given. The characteristic features of the oilfield services business are analyzed as follows: advanced technological level of production, innovation and unique competencies of staff from the view of ensuring competitive advantages between the oil-and-gas industry and identified risk-factors of the sustainable development. It’s identified that the economical efficiency of the oilfield services company business models is provided by its opportunities in the external environment and the internal unique production resources, ability to adapt for changes, flexibility of management systems, dynamic information integrity, contractual capacity and high level of management responsibility.

ЗАБЕЗПЕЧЕННЯ СТІЙКОСТІ ЕКОНОМІЧНОЇ СИСТЕМИ ЯК ЧИННИК СТАЛОГО РОЗВИТКУ ПІДПРИЄМСТВ ЗАЛІЗНИЧНОГО ТРАНСПОРТУ

Currently, in an unstable economic situation for each company to ensure sustainable operation. A significant proportion of enterprises focus on achieving sustainability and stability and achieve the outlined objectives through effective management in the implementation of an effective competitive development strategy. The problem of sustainable development of railway transport enterprises is relevant both in terms of forming effective mechanisms for ensuring the stability of the country's economy, and as a factor in adapting to global challenges. After all, transport, including rail, is the foundation of the modern economy. The functioning and development of all sectors of the economy, enterprises, their associations and complexes depend on its activities. One of the main forms of struggle for survival, an effective mechanism for selection and regulation in a market economy is competition. Competition is the competition between economic, market actors for markets in order to obtain the greatest profits. State intervention in the economy under conditions when the system is balanced and the structure of the economy – rational, becomes redundant. But within a real, not an idealized free market, when a person is confronted with reality, when state control is weakened, the economic system can be transferred from a state of resilience to instability, leading to imperfect competition. Unfortunately, a real market economic system can be stable for a long period of time only if the state intervenes in the economy. Thus, in the conditions of instability of development of global economic processes and directions of economic development the question of maintenance of stability of economic system remains the urgency. This leads to the need for the state to create economic incentives for all market participants in order to ensure their sustainability. Continuous and comprehensive optimization of business processes, improving the principles of management of structural units of the industry, focusing on improving the efficiency of transport production and maintaining competitiveness in the long run are among the main areas of sustainability of railway transport enterprises; implementation of the transition to innovative railway transport while maintaining the unity of management in all parts of the transportation process; maintaining competitiveness compared to other market participants; development and implementation of new organizational and technological solutions, etc.

Концептуальные аспекты устойчивого развития экономических систем: эволюция подходов и современная парадигма

Introduction. The relevance of scientific substantiation of approaches to sustainable development management is due to the need to take into account external changes and the development of conceptual provisions for the adaptation of economic systems. Theoretical analysis. The article summarizes the main approaches to the interpretation of the “sustainable development” concept. The evolution of economic thought and the historical transformation of views towards the study of sustainable development concerning various objects are considered. The scientific approaches and studies of leading foreign and domestic scientists are presented, which constituted the theoretical and methodological basis of the sustainable development concept. The essence of the category “sustainability of development” concerning economic systems is revealed. Empirical analysis. The economic, social and environmental substantiation of the sustainable development concept is given. The external and internal factors influencing the stability of economic systems are investigated. The stability of the system is considered through the prism of such interrelated system characteristics as controllability and adaptability. Results. The relevance of the application of an integrated approach to the study of the triad “society – economy – ecology” is shown. It is substantiated that the synergy of the main provisions of economic theory, conceptual principles of sustainable development, system analysis of the countries’ development determinants in the context of new global challenges and threats should underlie the strategic provision of sustainable development in the long term.

Methodology of Economic Science and Problems of Objectivity in Economics

The article described the specifics of economic science in the context of general scientific principles of cognition and the need to ensure the stability of economic systems. The research examined the nature and essence of objective and subjective factors of economic behavior, the nature of their interaction and the mechanism of transformation. Objective economic laws of differentiation of economic entities by the level of absolute welfare and equality of relative welfare are formulated. The state of the economic system is considered from the position of thermodynamic equilibrium. We formulated the condition of thermodynamic equilibrium of economic systems, which differs from the condition of equilibrium in the light of mechanistic concepts. The moment of the first archaic division of labor was highlighted as the point of bifurcation and the exit of the economic system from the state of thermodynamic equilibrium. The irreversible nature of this transition was emphasized. We found that it is necessary to study economic systems as non-equilibrium from the standpoint of assessing the state of complex dynamic structural formations.

Targeted Management of Labor Productivity for Sustainable Development of Enterprises

Study purpose: scientific substantiation of an innovative approach to economic concepts related to productivity and determination of the location of labor productivity in the product value added chain to ensure sustainable development. Methodology: the development of a model for creating added value with the allocation of a stage in it at which human labor is used, allowed the author to determine the possibility of setting goals for the short, medium and long term for various stages of production. The article substantiates the need to divide the principles of calculating labor productivity by stages of added value creation, highlighting the stage of creating innovations. As a result of the decomposition of the goals of the production system, the author comes to the conclusion that there is a need for more accurate positioning of labor productivity in the value-added chain and the transition from setting the goal of increasing labor productivity to solving a problem that ensures an increase in the efficiency and stability of the entire economic system. As a result of the research, a model for coordinating the growth of labor productivity and investment directions to achieve high rates of productivity and stability of the economic system has been drawn up.

Ensuring the Stability of Economic Systems by the Dominants of Homeostasis

Ensuring the Stability of Economic Systems by the Dominants of Homeostasis

Dynamic Analysis and Chaos Control of Bertrand Triopoly Based on Differentiated Products and Heterogeneous Expectations

Price competition has become a universal commercial phenomenon nowadays. This paper considers a dynamic Bertrand price game model, in which enterprises have heterogeneous expectations. By the stability theory of the dynamic behavior of the Bertrand price game model, the instability of the boundary equilibrium point and the stability condition of the internal equilibrium point are obtained. Furthermore, bifurcation diagram, basin of attraction, and critical curve are introduced to investigate the dynamic behavior of this game. Numerical analysis shows that the change of model parameters in a dynamic system has a significant impact on the stability of the system and can even lead to complex dynamic behaviors in the evolution of the entire economic system. This kind of complex dynamic behavior will cause certain damage to the stability of the whole economic system, causing the market to fall into a chaotic state, which is manifested as a kind of market disorder competition, which is very unfavorable to the stability of the economic system. Therefore, the chaotic behavior of the dynamical system is controlled by time-delay feedback control and the numerical analysis shows that the effective control of the dynamical system can be unstable behavior and the rapid recovery of the market can be stable and orderly.

The Legal Fundamentals for the Sustainable Development of the Industrial Enterprises while the Introduction of the Innovative Functional Units

In modern conditions, innovative activity is a special purposeful systematic set of measures to use innovative potential in order to achieve a new quality in the economic system in the process of ensuring its sustainable development. The implementation of innovative projects by industrial enterprises leads to disturbing influences in the form of innovative structural changes in the implementation of innovative structural units, affects the stability of economic systems and the effectiveness of their innovative activities. The presence of the legal grounds for changing the organizational structure of the enterprise in connection with the implementation of the activities aimed at the development of innovative goods and products is a prerequisite for the introduction of innovative units at an industrial enterprise. It should be noted that the regulatory framework governing innovative activity is quite contradictory and imperfect due to the lack of certain consistency regarding the definition of basic concepts and the existing conflict and inconsistency of legal regulation of relations in the field of innovative activity, so the relevance of its research and analysis is beyond doubt. Keywords: legal fundamentals, innovative unit, industrial enterprises, sustainable development

A strategy of insurance market development in conditions of latent military conflict in Ukraine

One of the basic preconditions of overcoming economic consequences of the military conflict in the East of Ukraine is a developed financial sector, an integral part of which is insurance market. Considering existence of internal problems of the industry’s development, that are strengthened by influence of military-political instability, the domestic insurance companies cannot fully achieve effective redistribution of risks and capital, as well as provide stability of economic system in the whole. This research is directed to the theoretical justification of a perspective strategy of the insurance market’s development in conditions of latent military conflict as well as to offer the appropriate practical recommendations for Ukraine. In order to achieve the set goal, there was substantiated the necessity of a complex application of the general scientific and special methods of cognition, namely methods of abstraction, analysis, synthesis, grouping, analogy and comparison, as well as the economic-mathematical methods. Basing on the official data on an insurance market’s development in Ukraine, there was revealed a tendency to worsening of its abilities in provision of national financial security, that is confirmed by shortening of volumes of insurance premiums and formed insurance reserves, as well as reduction of ratio of the insurance premiums to GDP and number of population in Ukraine during the last years. Moreover, with the help of instruments of correlation-regressive analysis, there was revealed a dependence of the level of the insurance market’s financial potential usage on the level of insurance penetration in Ukraine in the years 2002-2019. We define economic problems of latent military conflict, which can be solved with the help of insurance market, in particular, a slow economic growth, conditioned by a high level of credit risks, the unresolved issues of responsibilities’ fulfillment by insurance companies in conditions of military conflict and after it, as well as a rapid increase of financial needs of healthcare system. In accordance to this, there were given recommendations concerning their solution, which foresee a priority in medical insurance development, widening of insurance conditions and list of insurance risks, connected with bank crediting, as well as development of new insurance products, considering an influence of a military conflict’s factor. In conditions of overcoming the consequences of military conflict, the transformation of insurance market’s role appears, which is connected with increase of risks level and slowing down of financial resources movement. The proposals, formed as the result of this research, can be useful to develop the perspective plans of Ukrainian insurance market’s development. At the same time, the coordination of actions of the state regulators, unions of market’s participants, owners and management of insurers, as well as consumers of insurance services, are needed.

Concept of a Sustainable Economy of a Trade Enterprise

The article presents the results of scientific research on the problem of system monitoring of sustainable development of the micro-level economic system. The authors prove that the stability of economic systems is characterized by the ability to return to equilibrium under the influence of external and internal factors. Currently, the problem of ensuring sustainable economic development is debatable and actively discussed. This circumstance determined the relevance of the chosen scientific direction of research, the purpose of which was to develop a scientifically based conceptual position of the economic and financial stability of the trade enterprise. The goal of the study was achieved by applying the constructive direction of system research (system analysis) in the framework of systems theory and decision-making. The scientific and practical significance of the presented results lies in the development of the authors ‘ conceptual position that provides an understanding of the problems of economic stability and the need for systematic, timely diagnosis, and subsequent management decision-making to reduce the risks of loss of stability of the economic system.

BUDGETARY REVENUE BREAKDOWN AT THE LOCAL LEVEL OF PUBLIC ADMINISTRATION IN FEDERAL COUNTRIES

Ensuring the financial autonomy of local government bodies is an important component for creating conditions on accelerating the development of individual territories of the country and increasing the efficiency of their use. Creation of mechanisms for providing sufficient amounts of financial resources, activities of the above-mentioned authorities require thorough research in this area, especially within the study of foreign experience by building budget systems and organizing redistribution of financial resources between their individual components at different levels. Experience of federative countries is particularly significant in this area. The outlined confirms the relevance of the chosen topic of the article. Accordingly, the following goal of the research was set – to identify structural features and trends in the transformation of budget revenues at the local level of public administration in federative countries from 2000 to 2015. To achieve this goal, the following tasks were set: to determine the revenues structure of local government in federative countries; to analyse main tendencies of the change of the specified structure during 2000–2015; to apply cluster analysis in order to identify groups of countries that are similar to the processes of revenue generation of local government budgets in federative countries. Methodology. Statistics for assessment of budgetary revenue’s breakdown in several federative countries by the IMF data was processed, assessment of breakdown transformation with the use of the Ryabtsev index was done, and similarity and distinctions of revenue’s breakdown in different countries with the use of the hierarchical cluster analysis was investigated. Outcomes. It was found that among the analysed federative countries, the own tax revenue has a significant share (higher than 30% in a breakdown of all revenue) only in Belgium, Germany, Australia, Canada, and also in Bosnia and Herzegovina; the inter-budgetary transfers take the main position in financing of local budgets in Austria, Belgium, Canada, Russia, and Brazil; own non-tax revenues in local budgets are significant only in Australia and Bosnia and Herzegovina. It was proved that in fifteen years only in Russia, the opposite type of revenues breakdown sources was created and it demonstrates shifting to the centralization of public finance. It was also revealed that in 2000, the countries’ cluster structure by breakdown sign had obviously expressed group character, but further it evolved from a group structure to the step structure displaying specifics in the formation of local budgets’ revenues in each country. Practical implications. Practical outcomes of the study are analytical information on the structure of revenues of local government in federative countries, which may be useful by introducing new mechanisms for increasing the financial autonomy of local self-government. In addition, the obtained data may be useful for other not federative countries in terms of studying peculiarities of the formation of budget revenues of local government and analysis of the impact of such revenues on the socio-economic development of separate territories. Value/originality. The conducted study is relevant given the importance of developing local government in federative countries and providing it with the necessary financial resources for independent self-functioning. The data obtained during the research implementation are of practical value and can be used in the process of implementing measures to increase the financial independence of budget revenues at the level of local self-government in federative countries. This research was carried out within the framework of the scientific work performing of the Department of Finance, Banking and Insurance of the Chernihiv National University of Technology on the following topics: “Financial stability of economic systems in crisis management” (No. 0115U001149) and “Theoretical and applied aspects on financial provision of the national economy” (State Registration No. 0113U002741).

Review of Kalman Filter Employment in the NAIRU Estimation

The aim of the paper is to provide a recent overview of Kalman filter employment in the non-accelerating inflation rate of unemployment (NAIRU) estimation. The NAIRU plays a key part in an economic system. A certain unemployment rate which is consistent with a stable rate of inflation is one of the conditions for economic system stability. Since the NAIRU cannot be directly observed and measured, it is one of the most fitting problems for the Kalman filter application. The search for original, NAIRU focused and Kalman filter employment studies was performed in three scientific databases: Web of Science, Scopus, and ScienceDirect. A sample of 152 papers was narrowed down to 25 studies, which were described in greater detail regarding the focus, methods, model features, limitations, and other characteristics. A group of studies using a purely statistical approach of decomposing unemployment into a trend and cyclical component was identified. The next group uses the reduced-form approach which is sometimes combined with statistical decomposition. In such cases, the models are usually based on the backward-looking Phillips curve. Nevertheless, the forward-looking, New Keynesian or rarely hybrid New Keynesian variant can also be encountered.

МЕХАНІЗМ САМООРГАНІЗАЦІЇ ЕКОНОМІЧНИХ ПРОЦЕСІВ НА ПІДПРИЄМСТВІ

Розглянуто механізм самоорганізації економічних процесів на підприємстві, адже необхідність його створення викликана низкою проблем, серед яких: неефективність системи управління, техніко-технологічне відставання виробництва, відсутність власних нормативних обігових коштів, низька конкурентоспроможність продукції. Вирішення цих проблем потребує, насамперед, формуванням нового механізму і методів управління, які відповідали б збалансованому та самоорганізаційному економічному процесу підприємства.Для його формування пропонується сукупність методів, засобів, принципів та інструментів, здатних впливати на збалансованість та саморозвиток складових елементів економічного процесу. Було визначено міру невизначеності, що впливає на протікання економічних процесів, — ентропію. Теорія ентропії та екстрапотенціалу економічних систем передбачає, що за активної адаптації слід впливати на стан зовнішнього середовища. Установлено інтервали зміни значень відносної ентропії, що відповідають високому, середньому та низькому рівням стійкості економічної системи.Таким чином, розроблений механізм самоорганізації економічних процесів підприємства дозволяє забезпечити стійку економічну систему підприємства щодо дестабілізувальних чинників зовнішнього і внутрішнього середовища на короткостроковий, середньостроковий та довгостроковий періоди. Також було досліджено економічний процес підприємства з позиції теорії самоорганізації. Під механізмом самоорганізації економічних процесів на підприємстві розуміється сукупність методів, засобів, принципів та інструментів, здатних впливати на збалансованість і саморозвиток складових елементів економічного процесу. А її метою є забезпечення стійкості складових елементів економічного процесу, удосконалювати і підвищувати їхню ефективність діяльності, прискорити темпи. Це процес визначення етапів формування того чи іншого елементу капіталу, його особливостей, поелементних витрат на їх придбання чи формування; і визначенням сумарних витрат на придбання або формування елементу капіталу та ефективності його впливу на економічні результати діяльності підприємства.