IDEAS home Printed from https://ideas.repec.org/a/nos/ddldem/81.html
   My bibliography  Save this article

Justification of regional development of industrial enterprises in the plane of their financial support: experience of Ukraine

Author

Listed:
  • Tetiana Dedilova

    (Kharkiv National Automobile and Highway University)

  • Iaroslava Levchenko

    (Kharkiv National Automobile and Highway University)

  • Oleksandr Nosyriev

    (National Technical University «Kharkiv Polytechnic Institute»)

  • Svitlana Osypova

    (National Technical University «Kharkiv Polytechnic Institute»)

Abstract

The object of research is the regional industry of Ukraine. In the sectoral context, the general structure of the regional industry is significantly deformed, and the strategic and sectoral guidelines of economic policy are blurred, which makes it difficult to restore the economic growth of the country as a whole. The industrial potential is concentrated mainly in traditional industrial regions. The development of industry is hampered by the worn-out state of the technical and technological base of production, a high level of staff turnover, an insignificant percentage of the production of high-tech products, a lack of institutions for innovative development, and similar factors. The complexity of the procedures for financing the processes of industrial development is mediated by the innovative activity of its subjects. The processing industry is the central center of innovation in the industry. Among the sources of financing for innovations, enterprises’ own funds prevail. It is substantiated that the main directions of regional development of industrial enterprises in terms of financial support for their functioning are support and encouragement of innovation, measures to increase the competitiveness of industrial products, internationalization and support for exports. It is proved that the regions of the country unevenly use the mechanisms of investment support for industry, depending on the characteristics of the development of the regional economy. This necessitates the creation of investment mechanisms aimed at ensuring the management of the competitiveness of regional industrial complexes on the basis of the development and implementation of innovations. A multichannel investment mechanism has been proposed to ensure a full-fledged infusion of financial resources from several sources as an effective tool for financial influence on the development of industrial enterprises. It is noted that among the directions of development of industrial management should remain both traditional measures to support domestic producers (state regional purchases) and alternative (financial leasing, initial placement of securities, joint investment). For a separate direction of industrial development, it is recommended that state support of cluster interregional initiatives based on the use of leading European experience. The highlighted areas are relevant for potential foreign partners who intend to carry out joint business with Ukrainian industrial enterprises. Also, the indicated research results are significant in the process of attracting investments at the regional level and have practical value for foreign investors when they consider a portfolio of alternatives to foreign direct investment in Ukrainian industrial facilities.

Suggested Citation

  • Tetiana Dedilova & Iaroslava Levchenko & Oleksandr Nosyriev & Svitlana Osypova, 2021. "Justification of regional development of industrial enterprises in the plane of their financial support: experience of Ukraine," Technology audit and production reserves, Socionet;Technology audit and production reserves, vol. 2(4(58)), pages 33-37.
    • Handle: RePEc:nos:ddldem:81
    as

    Download full text from publisher

    File URL: http://journals.uran.ua/tarp/article/view/229787
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Landesmann, Michael A. & Stöllinger, Roman, 2019. "Structural change, trade and global production networks: An ‘appropriate industrial policy’ for peripheral and catching-up economies," Structural Change and Economic Dynamics, Elsevier, vol. 48(C), pages 7-23.
    2. Uyarra, Elvira & Zabala-Iturriagagoitia, Jon Mikel & Flanagan, Kieron & Magro, Edurne, 2020. "Public procurement, innovation and industrial policy: Rationales, roles, capabilities and implementation," Research Policy, Elsevier, vol. 49(1).
    3. Dai, Yixin & Hou, Jiani & Li, Xing, 2021. "Industry policy, cross-region investment, and enterprise investment efficiency," Research in International Business and Finance, Elsevier, vol. 56(C).
    4. Ferrannini, Andrea & Barbieri, Elisa & Biggeri, Mario & Di Tommaso, Marco R., 2021. "Industrial policy for sustainable human development in the post-Covid19 era," World Development, Elsevier, vol. 137(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peter Grajzl & Stjepan Srhoj & Jaka Cepec & Barbara Mörec, 2024. "A by-product of big government: the attenuating role of public procurement for the effectiveness of grants-based entrepreneurship policy," Small Business Economics, Springer, vol. 62(3), pages 895-916, March.
    2. Janssen, Matthijs J. & Abbasiharofteh, Milad, 2022. "Boundary spanning R&D collaboration: Key enabling technologies and missions as alleviators of proximity effects?," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    3. Rajeev K. Goel & Ummad Mazhar & James W. Saunoris, 2021. "Identifying the corrupt cog in the wheel: Dimensions of supply chain logistics and cross‐country corruption," Australian Economic Papers, Wiley Blackwell, vol. 60(4), pages 693-709, December.
    4. Nomaler, Önder & Spinola, Danilo & Verspagen, Bart, 2021. "Demand-led industrialisation policy in a dual-sector small balance of payments constrained economy," MERIT Working Papers 2021-038, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    5. Upadhayay, Neha B. & Rocchetta, Silvia & Gupta, Shivam & Kamble, Sachin & Stekelorum, Rebecca, 2024. "Blazing the trail: The role of digital and green servitization on technological innovation," Technovation, Elsevier, vol. 130(C).
    6. Liping Fu & Fan Wu & Shan Zhang, 2022. "Evolutionary Path and Innovative Development of Pharmaceutical Industrial Cluster—A Case Study of Shijiazhuang, China," IJERPH, MDPI, vol. 19(5), pages 1-18, March.
    7. Rocsana Bucea-Manea-Țoniș & Oliva Maria Dourado Martins & Dragan Ilic & Mădălina Belous & Radu Bucea-Manea-Țoniș & Cezar Braicu & Violeta-Elena Simion, 2020. "Green and Sustainable Public Procurement—An Instrument for Nudging Consumer Behavior. A Case Study on Romanian Green Public Agriculture across Different Sectors of Activity," Sustainability, MDPI, vol. 13(1), pages 1-25, December.
    8. Sanghamitra Chakravarty & Georgina Mercedes Gómez, 2024. "A Development Lens to Frugal Innovation: Bringing Back Production and Technological Capabilities into the Discourse," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 36(1), pages 82-101, February.
    9. Otioma, Chuks & Nsanzumuhire, Silas U. & Grillitsch, Markus & Jirström, Magnus, 2023. "Seeking for the shift towards challenge-oriented innovation policies: Tracing digitalization policies over two decades in Africa," Papers in Innovation Studies 2023/9, Lund University, CIRCLE - Centre for Innovation Research.
    10. Fu, Xin & Qiang, Yongjie & Liu, Xuxu & Jiang, Ying & Cui, Zhiwei & Zhang, Deyu & Wang, Jianwei, 2022. "Will multi-industry supply chains' resilience under the impact of COVID-19 pandemic be different? A perspective from China's highway freight transport," Transport Policy, Elsevier, vol. 118(C), pages 165-178.
    11. Lewandowska Małgorzata Stefania & Weresa Marzenna Anna & Rószkiewicz Małgorzata, 2022. "Evaluating the impact of public financial support on innovation activities of European Union enterprises: Additionality approach," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 58(3), pages 248-266, September.
    12. Chen Weijun, 2022. "The Impact of Government Support and Technological Innovation on Enterprise Performance: A Case Study of Guangdong Hi- tech Enterprises," International Journal of Science and Business, IJSAB International, vol. 14(1), pages 196-231.
    13. Davide Villani & Marta Fana, 2021. "Productive integration, economic recession and employment in Europe: an assessment based on vertically integrated sectors," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 48(2), pages 137-157, June.
    14. Bingqiang Li & Shan Wang & Nannan Dong & Jinzhi Li & Xi Li & He Yu, 2023. "Empirical Analysis of Subsidy Industrial Policy’s Effect on Export Innovation in the Chinese Manufacturing," SAGE Open, , vol. 13(4), pages 21582440231, November.
    15. Jill Atkins & Federica Doni & Andrea Gasperini & Sonia Artuso & Ilaria Torre & Lorena Sorrentino, 2023. "Exploring the Effectiveness of Sustainability Measurement: Which ESG Metrics Will Survive COVID-19?," Journal of Business Ethics, Springer, vol. 185(3), pages 629-646, July.
    16. Yun, Na, 2023. "Nexus among carbon intensity and natural resources utilization on economic development: Econometric analysis from China," Resources Policy, Elsevier, vol. 83(C).
    17. Cavallaro, Eleonora & Villani, Ilaria, 2021. "Real income convergence and the patterns of financial integration in the EU," The North American Journal of Economics and Finance, Elsevier, vol. 56(C).
    18. Gergely Buda & Judit Ricz, 2023. "Industrial symbiosis and industrial policy for sustainable development in Uganda," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 165-189, April.
    19. Joan Crespo, 2021. "Agencies, scales and times of path creation: The case of IoT in Toulouse," Regional Science Policy & Practice, Wiley Blackwell, vol. 13(5), pages 1527-1545, October.
    20. Janssen, Matthijs J. & Abbasiharofteh, Milad, 2022. "Boundary spanning R&D collaboration: Key enabling technologies and missions as alleviators of proximity effects?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 180.

    More about this item

    Keywords

    industrial enterprise; industrial policy; regional industry of Ukraine; financial resources; innovative development;
    All these keywords.

    JEL classification:

    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nos:ddldem:81. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Алина Макаренко (email available below). General contact details of provider: http://socionet.ru/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.