INTERNATIONAL FINANCIAL INVESTMENTS AS CIVIL SOCIETY DEVELOPMENT SUPPORTING TOOL

Authors

  • A. S. Polyanska Ivano-Frankivsk National Technical University of Oil and Gas, Ministry of Education and Science of Ukraine, Management and Administration Department, Karpatska str., 15, Ivano-Frankivsk, 76019
  • V. B. Kochkodan Ivano-Frankivsk National Technical University of Oil and Gas, Ministry of Education and Science of Ukraine, Management and Administration Department, Karpatska str., 15, Ivano-Frankivsk, 76019

DOI:

https://doi.org/10.15330/apred.2.16.17-28

Keywords:

international financial investments, financial market, civil society development, community, projects, financial instruments

Abstract

The article examines the features of attracting international financial investment as civil society development supporting tool. In conditions of limited state and regional financing, the role of external financing is growing, the source of which is the financial market of foreign countries. The urgency of involving international financial and investment instruments in civil society development and the expediency of using EU best practices to implement the values of such development based on the Association Agreement with the EU are substantiated. The preconditions for the financial and investment instruments formation have been generalized. The content of financial and investment instruments as a source for development processes investment support is defined and the relationship between the financial market and the investment process as a prerequisite for the international financial and investment instruments formation of the civil society development support is outlined. The project activity is highlighted as a relevant investment technology in modern conditions, in particular through the financial instruments of the European Union (EU) and the main stages of the project idea implementation are described with regard to the civil society development. In general, the activities related to the international financial investment attracting into supporting of the citizens' desire to direct their own initiative to implement the values inherent in the community and relevant to civil society, include identifying problems that prevent investment attraction, analysis of available investment opportunities to address these problems, selection of target groups interested in solving the problem, identification of activities to improve the situation, preparation of the relevant project application and its submission for participation in the relevant international financial instrument, and in case of approval - implementation of all actions envisaged in the project and obtaining declared results and expectations.

Author Biographies

A. S. Polyanska , Ivano-Frankivsk National Technical University of Oil and Gas, Ministry of Education and Science of Ukraine, Management and Administration Department, Karpatska str., 15, Ivano-Frankivsk, 76019

D. Sc. Econ., Professor

V. B. Kochkodan , Ivano-Frankivsk National Technical University of Oil and Gas, Ministry of Education and Science of Ukraine, Management and Administration Department, Karpatska str., 15, Ivano-Frankivsk, 76019

Ph.D (Econ.),  associate professor

References

1. Maiorova, T.V. Investment process and financial and credit levers of its activation in Ukraine, KNEU, 2013.
2. Dropa, Ya.B. “Financial instruments of resource formation in the national economy in the context of globalization.” Global and national economic problems, no. 16., 2017, pp. 682–687.
3. Polyak, N.P. Credit instruments for the development of the real economy in Ukraine. Diss. Kyiv, SHEI «University of Banking», 2016..
4. Porvin, M.Yu. “Identifying ways to improve public investment policy in Ukraine.” Scientific exploration in state and municipal administration, no. 1, 2013, pp. 227–241.
5. Estimation of foreign direct investment volume with a resident as the final controlling investor (round tripping) during 2010 - 2019. Kyiv, National Bank of Ukraine, 2020.
6. Hnatkivskyi, B., and Z. Romanchuk. “Problems of attracting foreign investment into the economy of Ukraine and ways to solve them.” Bulletin of Lviv University. The economic series, no. 43, 2010, pp. 162–167.
7. Shtal, T.V., et al. “Analysis of the Ukraine's investment climate and ways to improve it.” Business Inform, no. 3, 2013, pp. 122–125.
8. On financial services and state regulation of financial services markets: Law of Ukraine. The Verkhovna Rada of Ukraine, zakon.rada.gov.ua/laws/show/2664-14#Text. Acessed 10 Oct.2020.
9. «Civil society in Ukraine: new challenges, new tasks.» Survey results, www.ukrinform.ua/rubric-presshall/2508683-gromadanske-suspilstvo-v-ukraini-novi-vikliki-novi-zavdanna-rezultati-opituvan.html. Accessed 10 Oct. 2020.
10. “Program of economic development stimulation of Ivano-Frankivsk urban united territorial community.”Normatyvni akty Ivano-Frankivskoi miskoi rady, www.namvk.if.ua/ref_doc/77942. Accessed 10 Oct. 2020.
11. Prokopenko, V.Yu. “Financial and credit instruments in the real estate market: definition aspects.” Scientific Bulletin of Lviv State University of Internal Affairs. «Economic» series, no. 1, 2014, pp. 247–259.
12. Zakharin, S.V. “Theoretical and methodological principles of strategic guidelines formation for investment development of regions.” Scientific notes. Economics series, no. 17, 2011, pp. 454–460.
13. Rudenko, O.M., Shturkhetskyi, S.V., eds. Development of civil society in Ukraine: past, present, prospects. Ostrog: IGSU, Ostroh Academy National University Publishing House, 2014.
14. Korniievskyi, O.A., Rozumnyi, M.M., eds. Development of civil society in Ukraine: analytic report. Kyiv,NISD, 2015.
15. “National strategy for promoting the development of civil society in Ukraine for 2016-2020.” Cabinet of Ministers of Ukraine, www.kmu.gov.ua/gromadskosti/gromadyanske-suspilstvo-i-vlada/spriyannya-rozvitku-gromadyanskogo-suspilstva/nacionalna-strategiya-spriyannya-rozvitku-gromadyanskogo-suspilstva-v-ukrayini-na- 2016-2020. Accessed 15 Oct. 2020.
16. Krupnyk, A. A. “New strategy for the development of civil society: how to avoid mistakes.” Pravda, www.pravda.com.ua/columns/2020/01/20/7237818/. Accessed 15 Oct.2020.

Downloads

Published

2020-11-25

Issue

Vol. 2 No. 16 (2020): THE ACTUAL PROBLEMS OF REGIONAL ECONOMY DEVELOPMENT

Section

International economic relations

License

Authors who publish with this journal agree to the following terms:
    1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution NonCommercial NoDerivs 4.0 Unported License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
    1. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  1. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access)