Journal
УКР   ENG
Socio-Economic Problems
of the Modern Period of Ukraine
   



Collection SEPSPU -- sep2020.02.003

Repository of Institute of Regional Research UDC [338.45:7]:332.146.2; JEL D49, L82, Z10
Davymuka, S., & Fedulova, L. (2020). Artrynok v ekonomichniy systemi derzhavy ta rehioniv [Art-market in the economic system of a state and its regions]. In Sotsial'no-ekonomichni problemy suchasnoho periodu Ukrayiny [Socio-Economic Problems of the Modern Period of Ukraine]: Vol. 142 (2) (pp. 3-10). DOI: https://doi.org/10.36818/2071-4653-2020-2-1. [in Ukrainian].
Sources: 19

Authors



Davymuka Stepan Antonovych

Doctor of Economics, Professor, Honored Economist of Ukraine

Leading Researcher of the Department of regional financial policy of the Dolishniy Institute of Regional Research of NAS of Ukraine

Contacts: davymuka.s@gmail.com, ird_kozoriz@i.ua

Webpages:



Fedulova Lyubov Ivanivna

Doctor of Economics, Professor

Head of the Department of technological forecasting and innovation policy of the Institute for Economics and Forecasting of NAS of Ukraine; Professor of the Department of management of the Faculty of Economics, Management and Psychology of the Kyiv National University of Trade and Economics; Head of Center of the Center for economic policy studies of the Institute of expert-analytical and scientific research of the National Academy for Public Administration under the President of Ukraine

Contacts: fedulova2010@gmail.com, sveta_fedulova@ukr.net

Webpages:

Resume

From the viewpoint of economic theory, art becomes a rightful economic entity in market relations through the forming of the artistic market (market of art, art-market), where aesthetical and commercial values interact and make the ground for the perception of the artwork as a good and forming of respective economic behavior principles. The art-market still remains to be at the emerging stage in conditions of Ukrainian reality. Yet the lack of modern understanding of the role the art plays in the economic development of the state and cultural and artistic policy adequate to civilizational challenges prevent our country from taking a decent place in the western world. The paper defines the role of art in conditions of globalization as a specific type of spiritual-practical understanding of reality, which in its artistic-descriptive form provides for the perception of the world integrally in the context of aesthetics and emotions, strengthening human values and helping deeper and brighter understanding of the nature and importance of processes at certain historical stages of human development. Current features and trends of art-market development in the world and in Ukraine are characterized, including the special relationship to globalization processes and civilization development, enthusiasm over artwork and passion to purchase of modern art-products as an investment capital; modernization of traditional functions of artistic institutions and new role of mediators; lack of clear price policy and the impossibility of pricing control; virtualization of art-market under the impact of modern information-telecommunication technologies, etc. The art-market as an objective reality of nowadays is substantiated to be included in modernized market processes based on the partnership of artists and businesses. In this context, the artwork market should be considered as an aesthetic-practical system, in which activity in the art industry is of commercial nature, which requires the activation of innovative marketing instruments.

Keywords:

art, art-market, trends, creative industries, regional policy

References

    
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