The study provides a comparative assessment of changes in the export orientation and innovative activity of industrial enterprises. It also determines the causes and factors behind the decline of the domestic metallurgical industry. A number of protectionist measures aimed at supporting and further developing this segment of the industry are substantiated. The research findings demonstrate that Ukrainian industry is showing positive dynamics in its key performance indicators. Resolving the issues facing the domestic metallurgical industry requires the application of state regulatory mechanisms to ensure a stable foundation for modernizing metallurgical production in line with new environmental standards. To stabilize the metallurgical industry as a strategic segment of the national economy, it is necessary to introduce appropriate protectionist measures in the following areas: restricting exports of raw materials that are strategic for metallurgy, namely ferrous metal scrap; introducing a moratorium on increases in rail transport tariffs or introducing financial compensation for enterprises; postponing the introduction of the Carbon Border Adjustment Mechanism in Ukraine.
industry, production, volume of sold products, metallurgy, export orientation, innovative activity, development
The article examines the evolution of the European Union’s regional policy on rural development in the context of changing institutional frameworks, financial instruments, and strategic priorities. Rural areas play a crucial role in ensuring food security, preserving natural capital, and strengthening social cohesion in the EU, while simultaneously facing challenges of depopulation, economic stagnation, and environmental pressure. The study identifies the main stages of the formation of EU rural development policy, from sector-based agricultural support under the Common Agricultural Policy to an integrated, place-based, and sustainability-oriented approach. Special attention is paid to the institutionalisation of regional policy since the late 1980s, the establishment of Structural and Investment Funds, and the introduction of the LEADER initiative, which promoted bottom-up governance, local partnerships, and integrated rural development strategies. The consolidation of rural development policy as the second pillar of the Common Agricultural Policy under Agenda 2000 marked a paradigm shift towards multifunctionality, environmental sustainability, and territorial cohesion. Further reforms in the 2014–2020 programming period and the current 2021–2027 framework strengthened the strategic orientation of rural policy, integrating it with EU cohesion policy, the European Green Deal, and the Smart Villages concept. The article argues that contemporary EU rural development policy is increasingly focused on digitalisation, climate action, innovation, human capital development, and economic diversification of rural areas. The effectiveness of this policy is based on multi-level governance, clear programming mechanisms, performance-oriented monitoring and evaluation systems, and active involvement of local communities. The EU experience is particularly relevant for Ukraine as a candidate country for EU membership. Harmonisation of national regional policy with EU standards, adaptation of programming and evaluation instruments, and implementation of place-based approaches can significantly contribute to overcoming demographic decline, increasing the competitiveness of rural economies and ensuring sustainable rural development in the context of European integration and post-war recovery. Strategic priorities for rural development are identified, encompassing support for innovation-led local strategies and community cooperation, the formation of 'rural energy communities', and the advancement of small entrepreneurship and the social economy. The focus transitions from conventional agriculture toward green tourism, creative industries, high-value-added processing, and the implementation of regenerative farming practices.
regional policy, rural areas, European Union, Common Agricultural Policy, cohesion policy, sustainable development
The article provides a systematic overview of the conceptual foundations for developing economic growth poles within the framework of the European Union’s regional policy. It reveals the essence of the economic growth pole category, which is based on the theoretical origins of the concept (growth poles, agglomeration effects, new economic geography) and its contemporary institutional interpretations in EU practice (growth poles and growth corridors; functional urban areas; integrated territorial instruments). A system of criteria for identifying economic growth poles is proposed in the context of Cohesion Policy and the place-based approach, including economic, locational, infrastructural, functional, urban, institutional, spatial connectivity, and temporal criteria. Through a cross-cutting analytical and theoretical perspective, the article identifies and evaluates the key development patterns of economic growth poles with regard to the quality of economic development, capitalization of intangible factors, dynamism, and controllability. It demonstrates that growth policy should be assessed not only through quantitative indicators (investment, employment, income), but also through sustainability, inclusiveness, adaptability, quality of the spatial environment, and the capacity to capitalize on intangible and unique resources such as knowledge, creative industries, institutions, and cultural capital. The authors outline the key challenges related to dynamising development and argue that these challenges reinforce the need for effective governance: while efficient markets are critical for growth, their “failures” require smart regulatory support that establishes rules and conditions for balanced development without substituting market mechanisms. The article systematizes new approaches to EU regional policy and identifies its core principles, financial instruments, investment priorities, innovations of the 2021–2027 programming period, and differences compared to previous periods. The contemporary principles and innovations of EU Cohesion Policy set the framework for supporting economic growth poles. Focusing on cities as growth poles, particularly small and medium-sized cities, creates preconditions for enhancing economic resilience, competitiveness, and innovative capacity of regions, while simultaneously reducing territorial disparities. The effectiveness of this model directly depends on the ability of institutional policy to transform multiplicative and spillover growth effects from uncontrolled by-products of resource concentration into a purposefully regulated process of spatial diffusion of development.
economic growth poles; Cohesion Policy; multiplicative effect; polycentric development; agglomeration effects; spillover effects; functional urban areas (FUA); large, medium and small cities, cluster
The article examines the conceptual foundations of public investment in local economic development and, on this basis, identifies the principles for establishing a public investment management system in Ukraine. Public investment has a positive impact on growth. Research by the Organization for Economic Co-operation and Development shows that countries with higher levels of public investment increase their productivity more rapidly than those with lower levels of investment. Therefore, establishing and ensuring the effective functioning of a public investment management system, particularly at a local level, is crucial for fostering local economic development. The author clarifies the meaning of the term “public investment” as used in OECD documents, the Roadmap for Reforming Public Investment Management, and the Budget Code of Ukraine, since the establishment of the desired public investment management system requires the adoption of a unified terminology, in particular a definition of the term “public investment”. A comparison above leads to the conclusion that public investment in Ukraine focuses on fixed assets rather than services, institutions, and systems (in contrast to the OECD definition cited above, which specifically includes both areas). This can be explained by the focus on post-war reconstruction projects, which will primarily target the restoration of damaged infrastructure; however, an array of institutions, services, and systems is no less important for ensuring the quality of life of the population during the post-war reconstruction. The article examines a number of concepts relating to public investment, including the concept of public goods, the concept of long-term development (capital formation), the institutional concept, the concept of investment as a tool for development, the concept of public value (creating public value, CPV), the concept of efficiency of public expenditure (value for money), the concept of a place-based approach, the concept of decentralization, the concept of multi-level governance, and the concept of participatory governance. Based on a study of the conceptual foundations of public investment in local development, the author concludes that public investment often acts as a driver of economic development in communities, provided that it is effective, well-managed, and coordinated, and takes into account the needs of the specific territorial community or region. The article suggests expanding the set of principles set out in the Roadmap (which should be ensured by the target model of the public investment management system) to include the following principles: expediency – to avoid diverting financial resources from other more valuable areas and to use public investment as a tool for development; creation of public value – public investment should focus not only on economic efficiency, but also on social justice, environmental sustainability, improving quality of life, and building trust; and effective coordination and management of public investment across different levels of government.
public investments, conceptual frameworks, efficiency, local development.
The article examines the role of gender-responsive public governance in forming an inclusive economy under contemporary socio-economic transformations. It argues that integrating a gender perspective into public policy contributes to increasing its effectiveness, reducing structural imbalances, and expanding equal access to economic resources and opportunities. Gender equality is considered a key factor in enhancing economic performance through the more efficient utilization of human capital and broader participation in the labor market. The study systematizes theoretical approaches to interpreting an inclusive economy and generalizes its core principles with consideration of the gender dimension in public governance. Particular attention is paid to the evolution of gender equality research, from early philosophical concepts to its institutionalization within modern public policy frameworks and international development strategies. The analysis shows that despite significant progress, gender disparities persist, especially in leadership positions and access to decision-making processes. The article identifies key instruments of gender-responsive governance, including gender analysis and gender budgeting, as effective mechanisms for integrating gender considerations into policy design and implementation. These tools enable a more balanced allocation of public resources and improve the responsiveness of governance systems to the differentiated needs of women and men. A conceptual model of the impact of gender-responsive public governance on the development of an inclusive economy is proposed. The model reflects the interaction of regulatory, institutional, societal, and infrastructural levels, providing a comprehensive framework for understanding how gender equality principles are translated into practical socio-economic outcomes. This integrated approach allows for a more consistent implementation of inclusive development strategies. The findings demonstrate that the application of gender-responsive governance contributes to reducing gender gaps, increasing employment levels, strengthening social cohesion, and enhancing the overall resilience of the economy. The results highlight the importance of embedding gender-sensitive approaches into public governance systems as a prerequisite for achieving sustainable and inclusive economic development. The article emphasizes the need to further research practical mechanisms for implementing gender-responsive public administration in Ukraine in the context of European integration, particularly with regard to assessing the effectiveness of gender-sensitive policies at the national and regional levels. Special attention should be given to analyzing the impact of digitalization, innovative technologies, and economic recovery processes on the transformation of gender relations and the promotion of inclusive development.
gender policy; gender equality; gender-responsive public governance; public governance; inclusive economy; gender analysis; gender-responsive budgeting
The article provides a retrospective analysis of Ukraine's movement towards implementing the SDGs into its policy documents and regulatory acts, as well as achievements during the pre-war period, according to monitoring reports. Using the SDG Index, it presents Ukraine's progress in achieving the SDGs between 2016 and 2025. Migration is investigated as an integral part of sustainable development under conditions of globalization. The specific features of SDG implementation in Ukraine are examined in the context of migration processes with an emphasis on demographic, economic, and socio-political consequences. The differences between labor migration and forced, war-induced migration are substantiated based on motivating factors, gender and age structure, professional composition, migrants' educational levels, and the choice of host country. The article demonstrates that the intensification of migration processes with the onset of the war has caused various challenges and threats to achieving the SDGs related to human capital development, as well as the need to address new national migration management tasks. The influence of migration processes on the specifics of implementing SDG 1, SDG 3, and SDG 4 in Ukraine is investigated during the pre-war period and under conditions of forced war migration. The significant role of migration capital in financial and intellectual forms in promoting sustainable economic development is confirmed, and opportunities for its attraction are considered. The authors forecast new multi-directional migration flows in the post-war period: the repatriation of Ukrainian refugees; the departure of the working-age population for family reunification abroad; the departure of young people who do not see prospects for development and decent living conditions in post-war Ukraine. The article substantiates the necessity for differentiated state policy to achieve the SDGs with regard to existing and potential migrants in the following areas: creating conditions for the return of forced migrants; retaining labor resources in Ukraine; cooperating with the diaspora, international organizations, and host countries of Ukrainian migrants to guarantee their support and creating voluntary return programs; actively working with potential migrants. Ensuring the achievement of SDG 8 as one of the prerequisites for migrant reintegration and sustainable economic development in the post-war period requires further research. The role of social migration capital and migration experience in social adaptation, the restoration of migrants' social ties, and the implementation of SDG 5 and SDG 10 in Ukraine also requires further study.
sustainable development goals, labor migration, forced migration, migration capital, migrant remittances, state policy
The article provides a comprehensive analysis of the systemic dysfunctions and institutional constraints that limit the effective utilization of migration capital within Ukraine’s domestic consumer market under conditions of war and post-war transformation. Migration capital is conceptualized as a multidimensional economic resource that encompasses financial remittances, accumulated savings, human capital, entrepreneurial competencies, and transnational social networks formed through international mobility. The study substantiates that migration capital performs a stabilizing function for the national economy; however, its long-term developmental impact remains constrained by structural and institutional barriers. The research examines the channels through which migration capital influences the domestic consumer market, including household consumption patterns, regional demand structures, real estate markets, and small-scale entrepreneurial activity. Particular attention is devoted to the transformation of remittance flows into domestic economic circulation and their multiplier effects. The author shows that, in the Ukrainian context, migration capital is predominantly directed towards current consumption, frequently import-oriented, thereby weakening its contribution to domestic value added and structural modernization. The article identifies key systemic dysfunctions: the predominance of a consumption-oriented model for using remittances; the import dependency of expanded household demand; regional asymmetries in the spatial concentration of migration income; the limited integration of remittances into the formal financial system; the shadow circulation of funds; and the insufficient institutional support for the entrepreneurial reintegration of returning migrants. These dysfunctions are reinforced by regulatory instability, limited financial instruments for investment, low institutional trust, and fragmented migration governance. The study further analyzes the impact of large-scale forced displacement caused by the war on the structure and dynamics of migration capital. The coexistence of labor migration and forced migration generates heterogeneous effects on the domestic consumer market, labor supply, and regional socio-economic resilience. The article argues that post-war recovery will depend largely on the state’s capacity to transform migration capital from a short-term compensatory mechanism into a strategic driver of economic modernization. Prospective scenarios of post-war migration flows are outlined, considering return intentions, demographic losses, labor market imbalances, and the potential engagement of diaspora resources. The findings emphasize the need for differentiated public policy targeting various groups of migrants (current labor migrants, forced migrants, returnees, diaspora communities, and potential migrants). Policy priorities include strengthening financial inclusion, developing investment-oriented remittance instruments, stimulating productive entrepreneurship among returnees, enhancing cooperation with diaspora networks, and integrating migration governance into regional development strategies.
The article examines the key characteristics and stages of global economic progress in the 21st century amid transformations and the emergence of a new world order. The main approaches to scenario modelling of the world order are analysed. The author shows that multidimensional structural changes shape the global progress and it acquires a non-linear nature. The main characteristics of progress, such as the role of international trade, investment, and social parameters, are defined. Based on an analysis of global GDP, trade, investment, and unemployment trends, the article argues that it is not only the level of growth that is the key factor, but also the ability of economic systems to recover and adapt in the face of global shocks. Correlation and regression analyses reveal the dominant influence of trade and the significant role of investment in shaping the long-term trajectory of progress. The social dimension of global economic progress is confirmed, and its reliance on social characteristics is substantiated. The article identifies asymmetry in development between groups of countries and emphasises the need to manage structural imbalances. It also suggests a periodization of global economic progress reflecting the transition to a modern model of structural reorientation.
global economic progress, world order, global economy, economic development, economic growth, international trade, investment, unemployment, resilience, institutional changes, crises, social progress
The article emphasizes the importance of regional economic integration for the development of the global economy. It reveals that these processes occur under the influence of several factors. The main determinants of regional economic integration are systematized as follows: institutional, spatial, economic, trade-related, infrastructural, and security-related. The authors argue that these determinants cannot exist without a financial component. They suggest financial determinants to be interpreted as a set of conditions and instruments reflecting a country’s capacity for economic (financial) integration, the creation of a common economic space, the overcoming of development asymmetries, the coordination of financial policies, the integration of capital markets, the reduction of financial risks, and the attraction of financial resources. The specific features of regional economic integration in Africa are outlined, and the fact that trade liberalization alone is insufficient for its effectiveness is confirmed. The level of non-tariff barriers within integration groupings in the region is analyzed. The role and mission of the African Continental Free Trade Area in deepening integration processes are substantiated. Asymmetries among African countries in terms of their degree of participation in intra-group and continental trade are revealed. The vulnerability of the financial and banking systems of African countries is confirmed. The role of investment in fostering a favorable environment for regional integration is analyzed. The dynamics of foreign direct investment in African economies countries are assessed. The role of regional integration in the formation of a shared investment space is confirmed. The advantages of the Pan-African Payment and Settlement System for the expansion of integration processes are highlighted. Attention is drawn to the asymmetric levels of inflation across African countries. Special attention is paid to the effectiveness of debt management in African countries. An accelerated increase in the total volume of external debt in African countries is identified. The article argues that the landscape of regional economic integration in Africa is undergoing a process of transformation, which can be accelerated by forming a common financial area and developing financial markets and joint payment systems. Promising directions for regional integration in African countries are identified, considering financial determinants.
The article argues that the current transformations and changes to the world order require the development of theoretical approaches to assessing economic diplomacy. It substantiates the dual purpose of economic diplomacy. The author emphasizes the absence of a single indicator that would make it possible to assess a country’s economic diplomacy. Countries are analyzed according to the Globalization Index, which structurally encompasses economic globalization. Significant asymmetries are identified. Academic and analytical studies often use indicators of a country’s diplomatic presence to assess its economic diplomacy. The study reviews works in which the authors adopt this approach to determine an integrated indicator. Undoubtedly, for countries leading in terms of the number of diplomatic missions, such a presence contributes to the development of multilateral and bilateral diplomacy. However, there are significant discrepancies between countries’ diplomatic presence worldwide and the number of countries covered by a visa-free regime. The article reveals that methodologies for calculating the Economic Diplomacy Index that are based on the use of macroeconomic indicators cover the trade and investment sectors, as well as macroeconomic trends. In some studies, the assessment is supplemented by indicators of countries’ diplomatic presence, political situation, and the level of development of the legal framework. The analysis reveals the fragmentary nature of the situation and the lack of a consistent methodology (or methodologies) for assessing the economic diplomacy of countries. The author suggests an Integral Index of Economic Diplomacy, comprising the number of multilateral investment agreements, the number of preferential trade agreements, the number of diplomatic missions abroad, the number of visa-free countries, and the social component of the KOF Globalization Index. The sample for the assessment comprises 113 countries. The weight coefficients are determined by the principal component analysis (PCA). The article determines the significance of the first component, which explains 71.94% of the variance, and the second component, which explains 14.93%. Therefore, the weight of the first principal component is used for the assessment. The indicators with the greatest influence on the first principal component are identified. The results of the assessment confirm that it is positively influenced by all variables. A correlation matrix is constructed for the principal components, visually illustrating the relationships between the selected variables and the principal components. A formula for determining the Integral Index of Economic Globalization is proposed and calculations are carried out. Using a clustering method, clusters of countries are identified according to their level of the Integral Index of Economic Diplomacy. The calculation of the Integral Index of Economic Diplomacy confirms significant differences between countries. The group of leaders in terms of economic diplomacy comprises economically developed countries. The distribution of the Integral Index is analyzed. A heat map is constructed to identify the relationships between the variables selected for calculating the Index. Of the selected indicators, the number of diplomatic missions abroad has the least impact on the Integral Index. The article confirms that economic diplomacy combines the tools of foreign economic policy, diplomatic presence, and international economic cooperation.
global order, globalization, economic diplomacy, diplomatic presence, foreign policy, foreign investment, trade, integral index of economic diplomacy
The article provides a comprehensive analysis of the transformation of accounting systems, company reporting, and ESG auditing within the framework of the emerging European model of sustainable business development and increasing requirements for transparency and accountability. It substantiates the role of these processes in ensuring the economic security of enterprises, particularly under growing regulatory pressure, heightened investor expectations, and the expanding influence of non-financial risks on financial performance. The study examines contemporary approaches to integrating financial and non-financial indicators into company reporting and identifies key trends in the development of integrated thinking and disclosure practices. Special attention is paid to the concept of double materiality as a methodological foundation for generating reliable and analytically sound non-financial information. This concept reflects both the impact of enterprises on the environment and society and the influence of ESG factors on financial standing and performance. European ESG audit practices are analyzed, including the verification of disclosure accuracy and completeness, the assessment of internal control systems, the identification of environmental and social risks, and the evaluation of the consistency of reporting with the company’s business model and sustainable development strategy. The author proposes a model for integrating ESG indicators into the chart of accounts through specialized subaccounts for environmental, social, and governance-related costs, as well as provisions for climate, regulatory, and reputational risks. This approach enhances transparency in cost formation, ensures consistency between financial and non-financial data, and establishes a solid information base for both internal and external ESG audits. Integrating non-financial risks into the accounting system is viewed as an element of strategic planning and a mechanism for improving organizational adaptability. The analysis of international standards (GRI, SASB, TCFD) and the European regulatory environment demonstrates that the three-level GRI structure ensures consistency in reporting, supports the assessment of material impacts on the economy, environment, and society, and increases the analytical value and reliability of ESG-related data. The application of an integrated approach to reporting and accounting strengthens economic security, fosters investor and stakeholder confidence, reduces information asymmetry, and supports long-term sustainability. Future research should focus on the digitization of ESG accounting, evaluation of non-financial risks’ impact on financial stability and enterprise value, adaptation of integrated reporting to sector-specific contexts, and the development of methodological recommendations for enhancing ESG audit effectiveness and sustainable risk management in the context of European integration.
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