The article focuses on the study of the structural features of the economy of the EU member states and Ukraine. Labor productivity and capital productivity in a sectoral section are analyzed. In particular, changes in the dynamics of labor and capital productivity during 2014-2021 are examined. Based on the results, the sectors that are leaders and can act as determinants of the productive capacity of Ukraine and its regions are identified. The article reveals that the most intensive growth of labor productivity is recorded in such sectors as temporary accommodation and organization of food, as well as information and telecommunications. Capital productivity under the prevailing instability of the dynamics of this indicator is recorded only in construction and in information and telecommunications. The regions of Ukraine are ranked and grouped according to the intensity of labor productivity growth. The comparative analysis of the rates of growth (decline) of capital productivity in the sectors of the economy of Ukraine is carried out. It shows that the growth rate of labor productivity exceeds that of capital productivity. Based on the assessment of the ratio of wage growth rates and labor productivity in the economic sectors, the hypothesis regarding the predominance of labor productivity growth rates over wage growth rates in the majority of the economic sectors is verified. Drivers contributing to the growth of the productive capacity of economic sectors are characterized. The main strategic priorities of the structural transformations of the domestic economy in wartime and post-war recovery are determined, in particular regarding the development of the military-defense complex, which will ensure the long-term political and economic security of Ukraine and the development of industrial and innovative structural elements of the country’s economic system. The article emphasizes the need to create and develop a national innovation platform, which should be a component of the innovation market and the formation of the state system of legal protection of intellectual property, the demands for reform of which were put forward in the process of deepening European integration reforms.
structural transformation of the economy, labor productivity, capital productivity, structural proportions
The important role of the transport and logistics system and its infrastructure in realizing the export potential of Ukraine’s regions in the context of a protracted war and post-war recovery requires well-considered public policy measures to support them and further develop them. The measures should aim to increase the regions’ resilience to the challenges of war and lay the foundations for long-term growth. Increasing the sustainability of transport and logistics infrastructure is possible by combining mechanisms in government policy to create favorable conditions for the restoration of each of its structural elements with tools to stimulate their development in accordance with the priority areas of realizing the export potential of Ukraine’s regions. Based on the results of a comprehensive analysis of the transport and logistics infrastructure efficiency, the article offers a set of the state policy measures of its support and development in the regional socio-economic systems of Ukraine. The main directions of such a policy, in our opinion, should include the expansion of opportunities for realizing the export potential of Ukraine’s regions; diversification of transport and logistics infrastructure development in several complementary priority areas as an element of state economic security; integration of Ukraine’s transport and logistics infrastructure into the world transport system and intensification of Ukraine’s cooperation with international financial organizations to attract international financial assistance for modernization. Ukraine’s active European integration is an important factor in shaping the basis for a qualitative transformation and modernization of the transport and logistics infrastructure, which will open wider access to the EU market and facilitate the use of its opportunities to increase and more effectively realize the export potential of Ukraine’s regions, develop their transport and logistics infrastructure in accordance with EU norms and standards, and expand mutually beneficial partnerships with EU countries in the field of transport and logistics based on national interests. The fullest possible use of the transport and logistics infrastructure in the process of realizing the export potential of Ukraine’s regions will contribute to the rapid recovery and stable development of Ukraine’s economy and increase its competitiveness both in the domestic and foreign markets.
transport and logistics system, transport and logistics infrastructure, export potential of the region, border crossing capacity, containerization of freight transportation
The article examines the peculiarities of the development of the tourism sector in accordance with the challenges and restrictions of wartime. The article reveals the trends and peculiarities of the behavior of potential tourists today: the preference for booking a health resort, vacation as far away from air raids and explosions as possible; key requirements – uninterrupted availability of light, connection, and water, as well as availability of bomb shelters and air raid shelters; narrowed time frame for planning a trip, etc. The author highlights the directions of active development of the modern sphere of domestic tourism in Ukraine – medical and sanatorium tourism, green and ethno-gastronomic tourism, and military tourism, which has further prospects in the post-war recovery. The specifics of locations in the western and central regions, as well as frontline areas, are identified. The most popular are the safer regions of western Ukraine – Chernivetska, Lviv, Zakarpatska, Ivano-Frankivska, and Kyivska oblasts, which have retained their tourist potential. As for tourist locations in the frontline areas, the author notes the provision of such types of tourist services as excursions, individual tours, information services, counseling, volunteer assistance to IDPs, etc. Medical tourism is manifested in the form of assistance and treatment of military personnel and their rehabilitation. The emergence of solidarity and volunteer tourism is considered. The purpose of this form of travel is a conscious desire to support local communities and local businesses that have been directly affected by the occupation (paying for lunch in a cafe or restaurant in Bucha, a tasting visit to a mushroom farm in Yablunivka, etc.). Military tourism is a type of tourism that involves visiting areas associated with military operations. Some objects of the military tourism resource base concentrated in Donetska, Kyivska, Hersonska, and Odeska oblasts are identified.
tourism, tourist locations, domestic tourism, medical tourism, green tourism, military tourism, war
The main trends in the development of the world economy in the context of global challenges caused by geopolitical crises and wars and serious changes in demography, world wealth, technology, and climate are analyzed. The systemic risks of trade tensions, the growth of the debt level, and the decrease in the monetary policy’s effectiveness in the world's leading economies are studied in the context of Ukraine. The negative trends of a consistently high level of core inflation, which will require a further increase in interest rates or a prolonged maintenance of their high indicators, are outlined. High inflation has led to an erosion of real incomes and a global cost-of-living crisis, pushing millions of people to the brink of poverty and economic hardship. The reasons for the deterioration of the economic situation in the United States, the EU, China, and other leading world economies affecting the economies of other countries are examined. Consumers have been cutting back on their spending due to rising interest rates, lower real incomes, and a significant decline in household net worth. The dependence between the deterioration of macroeconomic stability in the world and additional threats to economic security and international support of Ukraine is detected. Therefore, based on the study, the author substantiates the following priority initiatives: the expediency of independent formation by Ukraine of an environment that will be favorable for the development of domestic entrepreneurship in the open economic space and capable of withstanding competitive pressure in the domestic and foreign markets; accelerating the implementation of the European Commission’s package of recommendations and the successful completion of basic reforms; creating conditions for attracting and improving the security of investments in Ukraine in wartime; accelerating integration into the European economic area. It is important to increase investors’ confidence in Ukraine through the use of investment protection tools, in particular investment insurance, strengthening control over the fulfillment of contractual obligations under investment agreements, strengthening the legal framework, expanding cooperation with international organizations, providing access to a fair trial within independent arbitration courts, conducting structural reforms aimed at improving the business climate, easing bureaucracy, and increasing accessibility of information for investors.
Any scientific study of the development of economic systems or society directly or indirectly determines the need for innovations, which are the driving force of qualitatively new, progressive changes. The article examines the evolution of the concept of "innovation" and the features of its application in banking. The author addresses theoretical approaches to the interpretation of the essence of "banking innovation" and reveals that the main goal of the innovative activity of banking institutions is to make a profit and improve their competitive positions. The article substantiates that the innovative activity of banks is not the same as the concept of financial innovations, and the latter is an element of the innovative activity of banking institutions. Characteristics of financial innovations and the reasons for the frequent identification of the essence of financial and banking innovations are analyzed. They are analyzed and structured according to the goals and directions of their implementation. The comparison of innovations and financial innovations is analyzed and their main similarities and differences are revealed. The dependence of financial investments on the bank’s competitiveness and the peculiarities of their relationship are outlined. Factors influencing the innovative component of banking institutions are structured. The article shows that the presence of qualitatively new changes contributing to increasing the efficiency of the use of banking institutions’ resources in the conditions of digitalization and remote banking is the main characteristic of banking innovations. It also reveals that the trend towards digitalization of all spheres of social life, including banking, has a significant influence on banking innovations, however, in the context of this trend, the aspect of guaranteeing the financial security of the banking segment becomes important. Given the resource investments aimed at financing the implementation of innovations in the field of banking services, the characteristic signs of investment are identified. The actual implementation of innovations, like investments, involves spending money now in order to obtain economic benefits in the future. That is, the objective and ultimate goals of innovation and investment coincide. However, the concept of investment is broader than innovation and includes the latter. They correlate as a whole and a unit when viewed from the perspective of philosophical categories.
banking innovations, investment-innovative potential, bank institutions, financial safety of bank institutions, financial innovations
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