Інституційне забезпечення фінансування сталого розвитку аграрної сфери України
Journal Title: European Journal of Management Issues - Year 2016, Vol 24, Issue 7
Abstract
With the accelerated globalization processes, the strength of connection between agricultural production and rural territories is growing; the ratio is changing in the structure of institutions of influence towards financial provision of balanced economic, social and environmental development of this complex systemic formation. Despite the growing interest in research papers to the issues of financing agriculture, an analysis of institutional foundations for the provision of financing the sustainable development, which take into account the multifaceted nature of institutional mechanisms of its implementation in the agricultural sector, is limited. The aim of present work is to substantiate theoretical-methodological and applied principles of institutional provision of financing the sustainable development of agrarian sector in Ukraine. We defined key approaches to the formation of institutional provision of financing the sustainable development of agrarian sector. We believe that the institutional provision of financing the sustainable development of agrarian sector is a set of socio-economic, organizational and legislative measures of state authorities and entities (collectively, public and private institutions) in the field of financial relations that form necessary legal, organizational and economic conditions for effective engagement, accumulation and application of financial resources in order to achieve a planned dynamic social-ecological-economic effect. The components of institutional provision of financing the sustainable development of agrarian sector are presented. We analyzed the status of agricultural sector in Ukraine over 2000-2013 and evaluated the tightness of relationship between the volumes of investments and the level of development of national economy (GDP) and agricultural sector (agriculture DP). It was revealed that the growth of investment in fixed capital by UAH 1 million contributed to the GDP growth of national economy in Ukraine by UAH 60.9 million. At the same time, an increase in investments in the main capital of agriculture by UAH 1 million predetermined the increase in the gross production of agriculture by UAH 7.9 million. The sources of financing agricultural sector that are closely related to the development of agricultural sector (correlation coefficient is equal to 0.94) include foreign direct investments, but they do not exert significant impact on the growth of gross agricultural product (growth by USD 1 million stimulated increase by UAH 0.14 million). In the agricultural sector, investment activities of both domestic and foreign investors remain secondary; the amount of invested resources does not meet required volumes. We proposed to create an innovative-oriented cluster of agricultural sector, to improve credit mechanism and the mechanism of state regulation in the context of sustainable development. The value of present research consists in determining the tightness of connection between the amounts of investment provision and the level of development of national economy (GDP) and agricultural sector (agriculture DP). Practical use of recommendations, proposed in present work, on updating the draft Concept of the "State program for sustainable rural development in Ukraine through 2025" will make it possible to optimize financial mechanism of state support for sustainable development of agrarian sector in Ukraine. A promising direction of research is the study and assessment of the possibility to apply foreign experience in the optimization of components of institutional provision for financing the sustainable development of agrarian sector in Ukraine.
Authors and Affiliations
L. Katan, N. Vasylieva, Igor Vinichenko
Keywords
Related Articles
- EP ID EP192178
- DOI 10.15421/191622
- Views 401
- Downloads 0
Використання принципів інноваційного менеджменту у процесі формування корпоративної культури [Using principles of the innovation Management in the process of the corporate culture]
The elements of corporate culture and its impact on innovation management are investigated. A corporate culture tasks in the structure of enterprise activity innovative system are developed
Соціально-економічні підсумки першої декади ХХI століття: глобальні асиметрії та диспропорції розвитку країн світу [The first decade’s social and economic results of the twenty-first century: global asymmetry and distortions of the world]
In the article the modern features of global asymmetries and disparities of socio-economic development are analyzed. The most important gaps between the rich and poor countries are defined
Стратегічні альтернативи розвитку зовнішньоекономічної діяльності підприємств [The strategic alternatives of the development of international business activity]
The article discusses the factors and features of the development strategy of foreign trade activities of Ukrainian enterprises. The main components of the mechanism of foreign trade development strategy of Ukrainian fir...
Комерціалізація науково-технічних розробок в умовах розвитку постіндустріального суспільства [Commercialization of scientific and technological developments in terms of post-industrial society]
The article present the global trend of innovative development, a study of methodological foundations of commercialization of scientific and technical elaborations, the role and importance of higher education in the proc...
Засади інтеграційної маркетингової комунікаційної діяльності виставкових компаній України [Principles of integration marketing communication activity of the Ukraine exhibition companies]
Purpose – to expand theoretical idea of model functioning concerning the integrative principles of marketing communication activity of the Ukrainian exhibition companies. Design/Method/Approach. This research used method...