State Economic Policy Research Articles

Taxation of the Agricultural Sector in the System of Ukraine’s Economic Policy Implementation and its Digitalization

Introduction. The agricultural sector is a strategically important segment for ensuring the country's national security. New challenges rightly require appropriate responses. All means of regulating the state agrarian sector, first of all, should be aimed at ensuring its successful development and effective functioning. The development of the agrarian sector of Ukraine requires the solution of institutional problems of agrarian production Studying literary sources indicates that state economic policy is implemented, primarily, through the mechanisms of tax policy, which has notes permanent changes in recent years.
 Aim and tasks. The aim of this article is to research the taxation of the agricultural sector in the system of Ukraine’s economic policy implementation and its digitalization. A secondary aim would be to single out the advantages and disadvantages of the taxation system and to create recommendations on choosing a taxation system for subjects of the agrarian sector.
 Results. The taxation of the agricultural sector in the system of Ukraine’s economic policy implementation and its digitalization are researched. Such stages of legal regulation of agricultural protection tax relations as formation (establishment), relative permanence, reformation, and post-reformation (post-reform stage) are defined. The agricultural protection tax measures in terms of VAT taxation during the period are performed. The advantages and disadvantages of the taxation systems of agricultural sector entities are singled out. Recommendations on choosing a taxation system for subjects in the agrarian sector are formed. The structure of the "Manager" module in the program "BAS AGRO. Accounting" is shown.
 Conclusions. Each of the tax systems that can be used by subjects of the agrarian sector has its own advantages and disadvantages. It is necessary to take into account the conditions under which a specific enterprise operates. The performed analysis of the evolution of the tax legislation in terms of taxation of the agrarian sector indicates a reduction in agro-protective actions by the state. At the stages of formation (establishment) and relative permanence of legal regulation, the introduction and effective use of tax policy, in particular the fixed agricultural tax and the special VAT taxation regime, were observed. During the reform and post-reform stages, the agricultural protection measures outlined above, which were quite powerful and effective at the time, were significantly minimized. The actual adaptation of information technologies to the needs of agriculture is one of the best new technologies in the agricultural sector.

Evidential policy in the management decision making mechanism at the macro level

The article presents a comparative analysis of alternative approaches to the formation of state economic policy in the modern world — purely ideological, political-conjunctural and scientific-evidential ones disclosing the unconditional advantages of the latter. Evidential economic policy that comprehensively assess available options for achieving high-priority macroeconomic goals is seen as a way to counter real-world threats to management decision-making at the macro level, based only on the ideological leanings of political parties and their theorists (classics and Keynesians), as well as the fact that opportunistic politicians persistently serve not the public interests, but their own selfi sh ones. Contributing to the formation of the methodological foundations of evidential economic policy, the author emphasizes the need to not limit oneself to careful collection of real facts, to formation of a "register of best practices" in world economic history and to the use of modern econometric methods in order to avoid reproaches in empiricism. Absolute emphasis in this case should be made on identifying cause-eff ect relations in the economic system in their strong correlation. Thus, success in the implementation of the evidential economic policy of the country is mostly associated with the state of macroeconomic theory, its ability to provide comprehensive analysis and scenario forecasting of the economic situation.

PRIORITIES OF THE STATE POLICY OF ECONOMIC GROWTH IN THE CONDITIONS OF RESOURCE LIMITATIONS

Ukraine’s economic growth is characterized by significant instability and excessive dependence on external factors, and the state’s economic policy is not based on an appropriate resource-based model of economic development. At the same time, the quality of Ukraine’s resource potential (labor, material and technical, natural, etc.) is deteriorating. All this significantly hinders further economic growth of the country and increases the urgency of substantiating goals and developing conceptual foundations of economic development based on a critical assessment and use of available limited resources. Factors that prevent sustainable economic growth of Ukraine include: constant and systematic politicization of the state’s actions in the field of economic policy, lack of heredity and alternative strategic planning of the state’s economic development; low level of economic security of entrepreneurship and lack of state guarantees of ownership rights; high level of monopolization of socio-economic life in the state; excessive administrative and financial centralization of power and rigid administrative hierarchy; inefficient use of state budget funds; lack of stable «rules of the game»; low culture and distorted nature of socio-economic morality; strengthening of structural deformations in the national economy. The existing inconsistency, non-systematic state economic policy and lack of modeling of economic growth of Ukraine are already a threat to the economic security of the state. State authorities are invited to implement measures aimed at ensuring a mandatory alternative to the strategic planning of the country’s economic development; formation in society of the ideology of «transition» to another quality of economic growth; creation of a system of incentives for social legitimization of shadow income and property, ensuring investments in innovative, scientific and technical development, education and the social sphere; recognition by all socio-political groups of common system-forming principles and priorities of economic growth; ensuring the liberalization of the state’s economic policy.

The possibility of Applying International Accounting Standards in the Public Sector (IPSAS) in the Iraqi Government Accounting System: Exploratory Research for the Opinions of Accountants at the University of Al-Muthanna

Purpose: This paper aims to use such standards to contribute to strengthening the accounting profession at the global level and provides financial disclosure that is easy to understand, treat and deal with, and hold government officials accountable for its basis. Theoretical Framework: Rapid developments in the field of information technology and the trend toward global trade relations imposed the use of new tools to address the government accounting system applied in Iraq to improve the quality of financial information. In addition, reducing the manipulation of public money and rationalize the state's economic policies. Design/Methodology/Approach: To achieve the research objectives, a questionnaire was designed and Distributed to an intentional sample of accountants, whose number reached (60) accountants. Findings: The findings show the importance of IPSAS standards in presenting financial reports to help accountants obtain them quickly and thus achieve the efficiency and effectiveness of accounting work, correcting and strengthening decisions and ensuring their effectiveness systems. Research Practical& Social implication: The contribution of our paper relies on investigating the General Accounting System (IPSAS) in the government accounting system in the field through doing a survey of the opinions of specialists at the University of Al-Muthanna as a field for conducting research, as well as an indication of the adequacy of laws, legislation and principles that regulate government accounting to ensure good practice of ( IPSAS ) standards. Implications/Originality/Value: the possibility of applying international accounting standards in the public sector to its accounting systems.

Services and evidence of irremediable market failure in rich countries: Australian experience

AbstractA large and increasing share of economic activity in modern rich economies can be shown to lie outside what mainstream neoclassical economics itself says it can be applied to: according to neoclassical economics, such activities are unsuited to markets. Since World War II rich economies have de-industrialised, shifted to services. Since the 1970s neoclassical economics has come to dominate policy advice. This worldview justifies state interventions when there is remediable market failure, but it ignores irremediable market failure, where its theory says that markets cannot work efficiently (such as where there is joint production or own consumption). Servicisation, this article argues, has increased and is increasing the extent to which neoclassical economics is, in its own terms, ‘knowably ignorant’. This is because, where service provision is subject to irremediable market failure, neoclassical economics, in its own terms, is inapplicable. The GDP [Gross Domestic Product] share of sub-sectors serving diverse human needs, such as aged care and education, is large and rising. Such sub-sectors are dominated by joint production, manifest as diverse outputs (complex and inter-related changes in the welfare of their diverse clients). Setting aside questions of the wider ‘scientific’ validity of neoclassical theory, the article focuses on its assertion that markets cannot generate economically efficient outcomes in such activities. Arguing that the constrained optimisation of its conceptual world cannot happen in the case of joint production and own consumption of service outputs, neoclassical theory reports itself as unable to determine optimal resource allocation, and so by implication cannot fulfil its role as the foundational basis of state economic policy. Yet the literature shows that the coverage of this theoretical result is not publicised – it is ‘knowable’ but not widely known. The article concludes that, as neoclassical economics is foundational to contemporary state policy, both GDP data and neoclassical theory show that it, and markets, are knowably and increasingly inapplicable. Therefore, mainstream policy thinking continues to face an increasing ‘state of ignorance’, and the cognitive foundations of state policy are correspondingly weak.

Entrepreneurial Hustle and the Rise (and Fall) of Personal Computer Companies in Lagos, Nigeria: 1960–1999

This article presents a brief background of the personal computer boom in Lagos, including the early history of computing and the rise of technology entrepreneurship in Nigeria. I then discuss the impact of Nigeria's structural adjustment program on the expansion of the local computing industry. Next, I detail the landscape of Nigerian personal computer boom in late 1980s and 1990s and discuss how innovative technologists drove the industrial and societal expansion of computer use in Nigeria by responding to the demands of global capital and state economic policies. Finally, I explore the reasons behind the eventual decline of the personal computer boom and examine its impact on Nigerian information technology, particularly focusing on relationships between the political and socioeconomic environment and broader industry changes.

О последствиях событийного экономического кризиса 2020 г. на национальном и региональном уровнях

The article presents an analysis of specific results, the most significant trends in the development of the Russian economy in 2020, caused by the spread of coronavirus infection. An assessment of social and economic indicators for 2020 compared to average values for the previous years 2017–2019 is given. The impact of an increase in the COVID-19 incidence on the demographic situation, introduction of quarantine restrictions on the regional economy of the Karachay-Cherkess Republic, a federal entity of the North Caucasian Federal District, is shown. Obviously, the degree of manifestation of the economic crisis depends on the level of social and economic development of the regions of Russia. The authors note the characteristic features of the crisis generated by the pandemic, which must be taken into account when developing anti-crisis policy, as well as economic policy at the stage of overcoming the crisis. Some enterprises found themselves on the verge of bankruptcy not as a result of their own inefficient activities, not because of errors in state regulation of economic development, but because of the closure of borders and the introduction of lockdowns. The recession threatens to turn into a depression. Year 2020 showed the importance of timely adaptation to a changing reality, the need to take emergency and extraordinary medical, economic, social measures to mitigate the impact of the pandemic. In the course of the study, the features of changes in the state economic policy caused by crisis phenomena are highlighted. The crisis had an impact on the strategic goals of regional development, contributed to a change of fiscal and credit policies, changed the ways of coordination between government and business, and activated approaches and models of anti-crisis management. The recovery growth of the country’s economy with subsequent of sustainable development, the combination of anti-crisis measures with the implementation of structural modernization tasks will prevent the deterioration of the economic situation and overcome quickly the negative consequences of the crisis.

CONCENTRATION OF ENTREPRENEURIAL ACTIVITY IN THE REGIONS OF UKRAINE IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT

The state and features of small business development in Ukraine are studied in the context of ensuring the postulates of sustainable development. Positive and negative trends and changes are revealed, prospects of the development of business structures are defined in terms of sustainable development. Assessing the concentration of entrepreneurial activity in the regions of Ukraine, we note the presence of certain fluctuations in the dynamics and interregional differences in the density of economic entities per 10 thousand population. Based on the analysis of the entrepreneurial activity in the regions of Ukraine, it is established that despite the insufficient level of small business development, its influence on the economic development of the regions is growing. This is confirmed by the calculated coefficient of the impact of revenues from small businesses to the local budget on GRP, the importance of which is growing in all regions. The calculation of the ratio of personnel costs in the field of small business to personnel costs in all enterprises shows its tendency to decrease in most regions, which is explained by an increase in business shadowing rather than lower wages and a reduced number of employees in these enterprises. It is proved that the development of entrepreneurship solves not only economic but also social issues. It is an effective means of restructuring, enhancing innovation, overcoming imbalances in certain market segments, creating new jobs and reducing unemployment. Stimulating the development of an entrepreneurial activity, supporting small business and creating conditions for economic management are among the primary tasks of the state's economic policy.

Liberal and Etatist Economic Model of Spatial Development of the Economy in Retrospect

Introduction. The relevance of this study is determined by the tasks of our country’s transition to a new level of economic development in the context of the unfriendly policy of the “collective West”. In this regard, the Government of the Russian Federation, together with the Academy of Sciences, with the participation of the Agency for Strategic Initiatives, is working in the field of regional spatial policy of socio-economic development. The economic model based on the primacy of free market relations, which is led by large transnational corporations, is increasingly yielding to statist models of economic activity regulation. The purpose of the article in this context is to specify the conditions under which the tasks of Russia’s spatial development coincide with the vector of meeting the needs of society, its readiness for change. In the case of collinear dynamics, this will contribute to tectonic shifts and, consequently, to strengthening the competitiveness of the state at the macro level. With pejorative tendencies – to a systemic failure, when the government cannot govern in a new way, and society will not put up with a situation where the “top” will hold dominance on the basis of a regressive or stagnation policy. Materials and Methods. It is very interesting, from this point of view is the historical and retrospective method of verification, which can reveal the interest of Russian society in specific or abstract values that play the role of an incentive that can expand the horizons of economic activity. Discussion and Conclusions. On the basis of historical experience, which verifies the views of the classics of economic thought, regularities are revealed in the synthesis of the ideas of state economic policy, the expectations of society and the desire of individuals to consume the good. The results of the study can be used in the development of conceptual and policy documents as part of the implementation of the National Technical Initiative and the Strategy for Spatial Development of Russia, as well as in order to make optimal management decisions on the formation and implementation of large-scale government projects. The results obtained explain from a historical point of view the priorities of society in the search for the optimal way to achieve well-being. The executive power needs such knowledge for the most efficient use of territorially localized resources when locating production facilities of advanced technological modes that ensure the strategic competitiveness of the Russian Federation.

Точки роста в экономической политике современной России в условиях внешних ограничений

The state economic policy is a tool for stabilizing the socio-economic state of the country. The challenges that Russia is currently facing require profound and fundamental changes from the state's economic policy. The new reality in which our population and households live causes large-scale and structural changes in the country, forming a new model of socio-economic development of society. Profound changes in economic policy should lead to its optimization and the comprehensive impact of all its components on the development of the real sector of the national economy.

Gross operating rate of trade entities

Introduction. In connection with the harmonization of Ukrainian official statistics according to European Union standards, "value added at production costs" included to enterprises economic indicators. However, the accepted monetary dimension limits its analytical significance. Analysis of recent research and publications. The EU practice, unlike Ukraine, supplements the main indicators of enterprises structural statistics with a relative indicatorthat based on value added at production costs – the indicator "gross operating rate". The purpose of the paper is to substantiate the feasibility of determining the gross operating rate of trade entities in Ukraine to ensure further harmonization and unification of Ukraine and the EU official statistics to obtain relevant information on the impact of internal and external business environment. Results. The analysis showed that the gross operating rate of trade entities in Ukraine is unstable and heterogeneous; this is due to a set of influencing factors. In addition, this indicator is characterized by abnormally high values: close to the values of processing industry and almost twice the values observed in the EU. Conclusions. The gross operating rate indicator is more analytical for effective monitoring of national economic and development of state economic policy, macroeconomic analysis and international comparisons, calculation and analysis of which allows determining the main directions of improving the relevance of statistics and optimizing domestic enterprises.

Comparative Characteristics of the Factors Affecting Inflation in Russia and China

Success of the state economic policy depends on a number of external and internal factors, condition of national economy as well as on external economic relations. Implementation of state macroeconomic policy is directly linked to approaches of the state to regulation of its inflation constituent, which became especially relevant during the pandemic. The article examines the experience of Russia and China in .their conduct of the anti-inflation policy as the countries which were initially oriented to planning economy with intensive industrialization. However after the 90-s of the 20th century the economies diverged in terms of goals and instruments used for implementation of their macroeconomic policy. By analyzing the existing theoretical and factual materials, the article demonstrates the link between inflation rate in the country and some factors. These factors include: instruments of national monetary policy; level of industrialization in the country and competitiveness of national industrial sector; dependence of national economy developments on world oil prices (commodity dependent production and export); participation of the country in the sanction policy. The authors expect that the inflation rate in Russia will further exceed the corresponding figure in China.

STRATEGY OF ECONOMIC DEVELOPMENT OF THE STATE IN THE CONDITIONS OF GLOBALIZATION

The influence of globalization processes on the functioning and implementation of the strategy of economic development of the state is analyzed and proved. The author's approach to defining the concept of economic globalization and economic strategy of the state taking into account globalization challenges is offered, the model of realization of strategy of economic development of the state in the conditions of globalization is developed. New external challenges for Ukraine in the context of globalization and further integration of the country into the world economy include both potential benefits that should be sought to maximize and serious risks and threats that require targeted action to identify, mitigate and neutralize. Ukraine's economic development are formed. In the light of modern globalization challenges and a new stage of Ukraine's economic development, the importance of scientific substantiation of national economic strategies and the formation of effective state economic policy on their basis is growing. It is important to form a new vision for the choice of economic development strategies, which will be based on scientific knowledge, existing patterns of modern economic development and a clear understanding of the possibilities of advanced development. The choice of economic development strategy in the context of globalization requires a theoretical understanding of the essence of this phenomenon, its impact, determining their place in the system of macroeconomic development. New external challenges for Ukraine in the context of globalization and further integration of the country into the world economy include both potential benefits that should be sought to maximize and serious risks and threats that require targeted action to identify, mitigate and neutralize. The strategy of economic development of the state should be to effectively integrate the economy into globalization, which ensures maximum use of the resulting benefits and minimize the inevitable risks in favor of successful economic development. The strategy of economic development of the state in the effective introduction of the economy in the processes of globalization, which ensures maximum use of benefits and minimizes the risks in favor of successful economic development of the state.

Factors of Formation of Financial Behavior Types of Economic Entities

The research is focused on determining the factors influencing the formation of the types of financial behavior of economic entities. Determining the types of economic entities’ financial behavior is necessary for implementing state economic policy measures. The subject of the study is the types of financial behavior reflecting the propensity of an economic entity to perform economic operations. Entities may exhibit active, adaptive, and reactive financial behaviors. The purpose of the work is to determine the key factors that influence the formation of types of financial behavior of economic entities. The study suggests that the formation of financial behavior types is caused by the influence of human, social and financial capital. The formation of financial behavior types is influenced by the basic characteristics associated with age, perception of the external environment, etc. The significance of certain factors is assessed using statistical analysis. The combination of these factors has a different impact on the formation of the type of financial behavior of an economic entity, but they can be significant under certain external conditions related to the economic situation. Because of the significance of individual factors, all economic entities form ‘yadernye’ (core) groups demonstrating a certain type of financial behavior, as well as groups of entities that change the type of financial behavior depending on the influence of the external environment. The change in financial behavior types is associated with a change in the strength of the impact of various factors that need to be considered in the dynamics. Entities with an active type of financial behavior, whose actions transform the external environment and stimulate other categories of entities to commit economic actions, are of significant interest for the analysis. The latter is especially actual for the financial market when entities with a reactive type of behavior under the influence of the information background commit rash actions leading them to financial losses. Based on the available sociological data, the study examines the main factors that lead to the formation of an active type of financial behavior. As a result of the construction of the econometric model, the authors conclude that the amount of available funds, the age of the respondent, the level of professional competence have a significant impact on the formation of an active type of financial behavior.

THE INFLUENCE OF GLOBALIZATION PROCESSES ON MODERN ECONOMIC SYSTEMS

The article examines the features of the globalization process and reveals its essential characteristics. The positive and negative impact of globalization processes on the development of national economies is analyzed. It is pointed out that globalization, from the economic point of view, is characterized by increasing influence of external economic factors, where a single world market is formed, which dictates equal conditions for all its participants. It is emphasized that competition, which increases due to the introduction of advances in science and technology, accelerates production, generates new ideas for products and services, the formation of knowledge about the effective functioning of capital markets and technology. It is proved that the functioning of the national economy in the context of global world relations is largely reflected through international trade. Today, world trade is the most active form of international economic relations. It is pointed out that in the conditions of intensification of globalization processes the state economic policy should be formed in the direction of transition from export-oriented development strategy, where raw materials are dominant, to strategy of intra-oriented development with saturation of domestic consumer market. It is generalized that globalization as an objective process has a direct impact on the development of the national economy in general and the domestic consumer market in particular. It is emphasized that the essence of economic globalization is to strengthen the role of investment, industry, individuals and information. It is stated that international competition leads to contradictions between the national economies of different states. It is concluded that globalization and increasing international competition require new approaches to the development of national economies. The study of the essence of globalization was further developed and the need to develop appropriate concepts for the functioning of national economies in these conditions.

Tendency of Investment Economy Formation

The relevance of the topic is caused by the need to identify trends and characteristics of the investment economy formation in the face of the external economic environment new challenges. The article’s main aim is to develop recommendations for optimizing the directions of the state economic policy in the field of investment activity development. The research is based on an analysis of the current situation and the identification of trends in the formation of Russia's investment economy and its regions. The study's novelty is to identify trends and characteristics in the investment economy formation in the regions of Russia and formulate development sectors in the Republic of Tatarstan. The main results of the study are as follows: issues of the preconditions for the formation of investment activity in the country's economy are examined, as well as macroeconomic indicators that form the financial foundations of the investment economy, the main directions for improving investment attractiveness are identified and proposed, including the use of the advantages of geographical and geopolitical position, increasing the economic, social and political level of development, improving the state of the environmental situation and demographic situation.

Causal effect of pandemic COVID-19, gold and oil prices on United States economic policy uncertainty: Evidence from ARDL method

The United States is the most significant economic power in the world. Therefore changes in economic indicators or economic policy of the United States will affect the whole world economy like the global financial crisis 2007-08. The first innovative study examines the effect of United States Coronavirus (COVID-19), oil, and gold prices on United States economic policy uncertainty. Autoregressive Distributed Lag Model(ARDL) is employed to get the long and short-run co-integration results. The outcome shows that (USCOVID_19 and OIL) significantly co-integrated in both the short and long run with United State Economic Policy of Uncertainty(USEPU) at a significant level. USCOVID-19 is positively short and long-run co-integrated, while oil is negatively short and long-run co-integrated with the economic uncertainty level of the USEPU. Only one variable of gold has no short and long-run co-integrated with USEPU.

The current situation of small and medium-sized businesses in Russia

The article examines the situation related to the development and problems in Russian small and medium-sized enterprises over the past decade. The assessment of the institutional environment of entrepreneurship at the present stage of its existence is given. The subject of the study is the processes taking place in this sector of the economy. The purpose of the article is to study the peculiarities of the development and existence of Russian small and medium-sized businesses.The theoretical and methodological basis was made up of articles by authors directly involved in business, as well as authors considering this economic activity from a methodological point of view. Changes in the institutional environment of the economy are becoming particularly relevant due to the challenges associated with sanctions restrictions against the country, as well as the serious dependence of the budget on oil and gas trade in raw materials, where energy prices have recently collapsed.The materials of the article can be used by mass media focused on the problems of domestic entrepreneurship. The novelty of the article primarily consists in a comprehensive analysis of the situation in this sector of the economy over the past decade. The state of the country's economy directly depends not only on the players of big business, but also largely on the objects of small and medium-sized enterprises, since they use local labor, raw materials and production resources on the territory. Therefore, economic diversification is currently an important issue for the state economic policy of the state, and it is small and medium-sized businesses that could become the locomotive that would allow the country to get out of further technological and socio-economic distress.

New Phase in State Economic Policy: from Eсlectic to System Transformation

New Phase in State Economic Policy: from Eсlectic to System Transformation

Interdisciplinary Approach to the Study of State Socio-Economic Systems

The success of implementing a state economic policy operating under the conditions of a particular economic model depends on the diversity of aspects. The social one is the most important among them. The social aspect of the economic system and politics is oriented first and foremost to human resources, which is the base of the social-economic system. In this article the interdisciplinary approach has been identified as a priority in the field of study of the essence and development of new types of socio-economic systems, considering the whole complex of factors of their environment of formation. The existence of a close interconnection of economic and social aspects has been determined: the influence of non-economic, including social, determinants on the development and functioning of innovative models of the state structure; ensuring social development through existing economic shifts. It's concluded that an interdisciplinary approach in analyzing the concept of sustainable development and finding ways of its implementation is a necessity.