ANALYSIS OF THE RELATIONSHIP BETWEEN THE RESULTS OF FINANCIAL AND INVESTMENT AND INNOVATION POLICY AT THE LOCAL LEVEL
Polchanov A.
Zhytomyr Polytechnic State University,
Zhytomyr, Ukraine
Zhytomyr, Ukraine
Zakharkina L.
Sumy State University,
Sumy, Ukraine
Sumy, Ukraine
Pages: 168-173
Original language: Ukrainian
DOI: 10.21272/1817-9215.2020.1-19
Summary:
The role and place of financial policy in the modern state`s development in the conditions of globalization processes are determined. The urgency of improving the theoretical and methodological instruments concerning the implementation of modern financial policy and conducting additional research on the relationship of its effectiveness with the activity of investment and innovation processes in the country is substantiated. The analysis of publishing activity on the implementation of financial policy at the state and regional levels has shown an increase in recent scientific interest in this issue, which indicates its relevance. The purpose of this study is to analyze the relationship between the results of regional financial policy with indicators of investment and innovation activity of economic entities in the region. Methods of economic, system and comparative analysis and synthesis were used in the research process. Сalculation, analytical and graphical methods, regression analysis were used in the processing of statistical data. This article considers the indicators of socio-economic development that determine the effectiveness of financial policy at the regional level. The dynamics of the gross regional product for the Slobozhansky region of Ukraine (Poltava, Sumy and Kharkiv regions) was analyzed, the key factors influencing its volumes were also identified The dynamics of changes in the size of wages per employee was studied. Trends in changes in capital investment in the region were analyzed and regression analysis was performed, which showed a high level of relationship between the volume of capital investment and gross regional product. It was determined that a significant factor influencing the effectiveness of regional financial policy is the innovative activity of economic entities in the region. A regression analysis was performed between the volumes of innovation expenditures and gross regional product and the corresponding models characterizing it were obtained. As a conclusion was identified that the effectiveness of regional financial policy is directly related to the level of investment and innovation activity of enterprises in the region.
Keywords:
financial policy, regional development, gross regional product, capital investment, innovation activity..
Reference:
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1. Chugunov, I. & Pasichniy, M. ( 2016). Financial policy in Ukraine in the terms of economic globalization [Finansova polityka Ukrainy v umovakh hlobalizatsii ekonomiky]. Herald of Kyiv National University of Trade and Economics, 5, 5–18.
2. Malyshko, V. & Puchko, A. (2017). Fiscal Policy Ukraine on the Modern Stage [Finansova polityka Ukrainy na suchasnomu etapi]. PATH OF SCIENCE [TRAEKTORIÂ NAUKI], 3,No 1, 41–48. http://dx.doi.org/10.22178/pos.18-4
3. Kobelia, М. (2020). Theoretical Provisions and Essence of Financial Policy of the State [Teoretychni polozhennia ta sut' finansovoi polityky derzhavy]. Ekonomika ta derzhava,3, 160–164. DOI: 10.32702/2306- 6806.2020.3.160
4. Finansova polityka [Financial policy]. https://mof.gov.ua/uk. Retrieved from: https://mof.gov.ua/uk/finansova-politika
5. Gorodetska,Т. (2019). Condition of Financial Support of Regional Policy [Stan finansovoho zabezpechennia rehional'noi polityky]. SOCIAL ECONOMICS, 58, 34-43. DOI: 10.26565/2524-2547-2019-58-05
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9. Kvasnytsia, О. & Rusin, В. (2018). The Influence of Financial Policy on the Development of Regions in the Terms of Decentralization [Vplyv finansovoi polityky na rozvytok rehioniv v umovakh detsentralizatsii]. Ekonomichnyy analiz, 28 (4), 321-330.
10. Morhachov, I. V. (2020). Regulating the Regional Innovation Processes and their Infrastructure Provision [Rehuliuvannia rehional'nykh innovatsijnykh protsesiv ta ikh infrastrukturnoho zabezpechennia]. Business Inform, 1, 129-135. https://doi.org/10.32983/2222-4459-2020-1-129-135
1. Chugunov, I. & Pasichniy, M. ( 2016). Financial policy in Ukraine in the terms of economic globalization [Finansova polityka Ukrainy v umovakh hlobalizatsii ekonomiky]. Herald of Kyiv National University of Trade and Economics, 5, 5–18.
2. Malyshko, V. & Puchko, A. (2017). Fiscal Policy Ukraine on the Modern Stage [Finansova polityka Ukrainy na suchasnomu etapi]. PATH OF SCIENCE [TRAEKTORIÂ NAUKI], 3,No 1, 41–48. http://dx.doi.org/10.22178/pos.18-4
3. Kobelia, М. (2020). Theoretical Provisions and Essence of Financial Policy of the State [Teoretychni polozhennia ta sut' finansovoi polityky derzhavy]. Ekonomika ta derzhava,3, 160–164. DOI: 10.32702/2306- 6806.2020.3.160
4. Finansova polityka [Financial policy]. https://mof.gov.ua/uk. Retrieved from: https://mof.gov.ua/uk/finansova-politika
5. Gorodetska,Т. (2019). Condition of Financial Support of Regional Policy [Stan finansovoho zabezpechennia rehional'noi polityky]. SOCIAL ECONOMICS, 58, 34-43. DOI: 10.26565/2524-2547-2019-58-05
6. Sajt Holovnoho upravlinnia statystyky v Poltavs'kyj oblasti [Site of the Main Department of Statistics in Poltava region] http://www.pl.ukrstat.gov.ua.
7. Sajt Holovnoho upravlinnia statystyky v Sums'kij oblasti [Site of the Main Department of Statistics in Sumy region] http://sumy.ukrstat.gov.ua.
8. Sajt Holovnoho upravlinnia statystyky u Kharkivs'kyj oblasti [Site of the Main Department of Statistics in Kharkiv region] http://kh.ukrstat.gov.ua.
9. Kvasnytsia, О. & Rusin, В. (2018). The Influence of Financial Policy on the Development of Regions in the Terms of Decentralization [Vplyv finansovoi polityky na rozvytok rehioniv v umovakh detsentralizatsii]. Ekonomichnyy analiz, 28 (4), 321-330.
10. Morhachov, I. V. (2020). Regulating the Regional Innovation Processes and their Infrastructure Provision [Rehuliuvannia rehional'nykh innovatsijnykh protsesiv ta ikh infrastrukturnoho zabezpechennia]. Business Inform, 1, 129-135. https://doi.org/10.32983/2222-4459-2020-1-129-135
1. Chugunov, I. & Pasichniy, M. ( 2016). Financial policy in Ukraine in the terms of economic globalization [Finansova polityka Ukrainy v umovakh hlobalizatsii ekonomiky]. Herald of Kyiv National University of Trade and Economics, 5, 5–18.
2. Malyshko, V. & Puchko, A. (2017). Fiscal Policy Ukraine on the Modern Stage [Finansova polityka Ukrainy na suchasnomu etapi]. PATH OF SCIENCE [TRAEKTORIÂ NAUKI], 3,No 1, 41–48. http://dx.doi.org/10.22178/pos.18-4
3. Kobelia, М. (2020). Theoretical Provisions and Essence of Financial Policy of the State [Teoretychni polozhennia ta sut' finansovoi polityky derzhavy]. Ekonomika ta derzhava,3, 160–164. DOI: 10.32702/2306- 6806.2020.3.160
4. Finansova polityka [Financial policy]. https://mof.gov.ua/uk. Retrieved from: https://mof.gov.ua/uk/finansova-politika
5. Gorodetska,Т. (2019). Condition of Financial Support of Regional Policy [Stan finansovoho zabezpechennia rehional'noi polityky]. SOCIAL ECONOMICS, 58, 34-43. DOI: 10.26565/2524-2547-2019-58-05
6. Sajt Holovnoho upravlinnia statystyky v Poltavs'kyj oblasti [Site of the Main Department of Statistics in Poltava region] http://www.pl.ukrstat.gov.ua.
7. Sajt Holovnoho upravlinnia statystyky v Sums'kij oblasti [Site of the Main Department of Statistics in Sumy region] http://sumy.ukrstat.gov.ua.
8. Sajt Holovnoho upravlinnia statystyky u Kharkivs'kyj oblasti [Site of the Main Department of Statistics in Kharkiv region] http://kh.ukrstat.gov.ua.
9. Kvasnytsia, О. & Rusin, В. (2018). The Influence of Financial Policy on the Development of Regions in the Terms of Decentralization [Vplyv finansovoi polityky na rozvytok rehioniv v umovakh detsentralizatsii]. Ekonomichnyy analiz, 28 (4), 321-330.
10. Morhachov, I. V. (2020). Regulating the Regional Innovation Processes and their Infrastructure Provision [Rehuliuvannia rehional'nykh innovatsijnykh protsesiv ta ikh infrastrukturnoho zabezpechennia]. Business Inform, 1, 129-135. https://doi.org/10.32983/2222-4459-2020-1-129-135