Kalashnykova H. Investment support for the development of the agrarian sector of Ukraine

Українська версія

Thesis for the degree of Doctor of Philosophy (PhD)

State registration number

0823U100543

Applicant for

Specialization

  • 051 - Економіка

14-08-2023

Specialized Academic Board

ДФ 26.004.084

National University of Life and Environmental Sciences of Ukraine

Essay

The thesis is devoted to the development and substantiation of theoretical and methodological provisions and practical recommendations regarding the formation of effective investment support for the agricultural sector of Ukraine. The content of concepts has been clarified: «investment», «investment potential», «investment provision», «effective system of investment support», «investment provision of the agricultural sector». The classification of the sources of the formation of investment resources has been refined. A new paradigm of investment support for the development of the agricultural sector of the Ukrainian economy is proposed, which is based on the application of a systemic approach to support investment processes with a combination of various structural components (investment climate, investment attractiveness, investment processes, factors restraining investment processes, etc.). It is substantiated that since investment support for the development of the agrarian sector of the economy of Ukraine is insufficient and does not allow to ensure the further growth and development of agrarian business, it is proposed to expand the investment opportunities of agrarian enterprises by intensifying the use of investment potential, which will contribute to the restoration of the reproductive process in the agrarian sector. Іt is proposed to define a set of quantitative indicators capable of forming a clear picture of the investment potential, which contains a set of interrelated components that can change over time, as a dynamic system that can be influenced by certain actions. A set of this indicators was studied. The reasons for the investment decline in the agricultural sector have been identified, including: an unfavorable agrarian policy for agro-commodity producers, a reduction in budgetary support for producers, a narrowing of investment opportunities, suppression of the integration processes of agricultural producers with processing enterprises and the development of the cooperative movement; regional disparity in levels of investment and investment attractiveness of agricultural production, the COVID-19 pandemic; reduction of investments due to the expectation of the purchase of agricultural land plots; deterioration of small business conditions; imperfect infrastructure, unacceptable investment risks for potential capital investors, recapitalization of production, reduction of jobs, the mostly raw nature of export products and the disparity of export and import prices. It is proposed, using the taxonomy method, to build an integral indicator of the level of investment potential. Factors influencing the main components of investment potential were studied and a scientific approach was proposed regarding the methodology for calculating the taxonomic indicator of the level of investment potential of agricultural sector enterprises and individual agricultural enterprises of the Cherkasy region. According to the studied agricultural enterprises of the Cherkasy region, the main components affecting investment support for the development of the agrarian sector of the region during 2017–2021 were determined. A multifactor econometric model was developed to assess the impact of existing and attracting potential opportunities of internal and external investment resources on the level of investment provision of the agricultural sector, which made it possible to predict indicators of investment provision of the development of the agrarian sector. It was determined that the projected value of the level of investment potential from the position of investment support for the development of the agrarian sector in 2022-2024. By building a fuzzy cognitive model of the impact of risks on the level of formation of the investment potential of the agricultural sector, according to the mathematical theory of fuzzy sets and formal logic, the level of formation of the investment potential of the agricultural sector is predicted, provided that the geography of active hostilities is expanded in the rest of Ukraine and in the conditions of active hostilities.

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