Efficiency of managing regional economic development in wartime (Ukrainian experience)
Keywords:
regional development, capital investments, regional economy, gross regional product, development potential.
Abstract
Each state has its own regional peculiarities, just as each state should take all possible measures to ensure the uniform and efficient economic development of each of its regions, in accordance with the existing potential and the infrastructure already in place. In order to develop measures for effective management of the economic development of regions, it is necessary to conduct a retrospective analysis of statistical data, which will allow to identify the peculiarities of their current financial condition and group them by the degree of development. Accordingly, the purpose of the study is to determine the optimal approaches to ensuring the effectiveness of regional economic development management, taking into account the martial law in Ukraine.
The performance of regional enterprises, investment volumes and output are largely determined by market mechanisms and incentives that support concentration processes and lead to the growth of spatial disparities within Ukraine. The uneven development of regions, especially under martial law, may exacerbate social and demographic problems, which will complicate economic recovery after the end of hostilities.
The study identified the main directions of regional development, according to their belonging to a particular cluster, and formulated recommendations aimed at improving the economic efficiency of the regions.
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References
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Balland, P. A., Boschma, R., Crespo, J., & Rigby, D. (2019) Smart specialization policy in the European Union: relatedness, knowledge complexity and regional diversification. Regional Studies, 53(9), 1252-1268. https://doi.org/10.1080/00343404.2018.1437900
Bezverkhyi, K., Kovach, S., & Zolkover, A. (2019) Integrated reporting: econometric model of quality assessment. Economic Studies, 28(5), p. 120-133
Calero, C., & Turner, L. W. (2020). Regional economic development and tourism: A literature review to highlight future directions for regional tourism research. Tourism Economics, 26(1), 3-
De Propris, L., & Bailey, D. (2021). Pathways of regional transformation and Industry 4.0. Regional Studies, 55 (10-11), 1617-1629. https://doi.org/10.1080/00343404.2021.1960962
Diebolt, C., & Hippe, R. (2019). The long-run impact of human capital on innovation and economic development in the regions of Europe. Applied Economics, 51(5), 542-563. DOI: https://doi.org/10.1080/00036846.2018.1495820
Elvekrok, I., Veflen, N., Scholderer, J., & Sørensen, B. T. (2022). Effects of network relations on destination development and business results. Tourism Management, 88, 104402. https://doi.org/10.1016/j.tourman.2021.104402
Eriksson, R., Hansen, H., & Winther, L. (2017). Employment growth and regional development: industrial change and contextual differences between Denmark and Sweden. European Planning Studies, 25(10), 1756-1778. https://doi.org/10.1080/09654313.2017.1338673
Fang, R., Liao, H., Xu, Z., & Herrera-Viedma, E. (2023). Risk assessment in project management by a graph-theory-based group decision making method with comprehensive linguistic preference information. Economic Research-Ekonomska Istraživanja, 36(1), 86-115. https://doi.org/10.1080/1331677X.2022.2070772
Feißt, M., Hennigs, A., Heil, J. Moosbrugger, H., Kelava, A., Stolpner, I., Kieser, M., & Rauch, G. (2019). Refining scores based on patient reported outcomes – statistical and medical perspectives. BMC Medical Research Methodology, 19(1). https://doi.org/10.1186/s12874-019-0806-9
Govindarajan, V. (2019). Impact of participation in the budgetary process on managerial attitudes and performance: Universalistic and contingency perspectives. Management Control Theory, 17(4), 321–341. https://doi.org/10.1111/j.1540-5915.1986.tb00240.x
Hendri, H., Yuliantoro, & Ama, M. K. (2020). Determinants of fraud prevention and financial performance as an intervening variable. International Journal of Economics and Financial Issues, 10(1), 19–26. https://doi.org/10.32479/ijefi.8955
Henning, M. (2019) Time should tell (more): evolutionary economic geography and the challenge of history. Regional Studies, 53(4), 602-613. https://doi.org/10.1080/00343404.2018.1515481
Iammarino, S, Rodríguez-Pose, A, & Storper, M (2019) Regional inequality in Europe: evidence, theory and policy implications. J Econ Geogr 19(2), 273-298. https://doi.org/10.1093/jeg/lby021
Kibik, O., Taran-Lala, O., Saienko, V., Metil, T., Umanets, T., & Maksymchuk, I. (2022). Strategic vectors for enterprise development in the context of the digitalization of the economy. Postmodern Openings, 13(2), 384-395. https://doi.org/10.18662/po/13.2/460
Kruszelnicki, J., Gołuński, M., Ciochoń, P., Noya, M., Pelayo, E., & Z˙yra, J. (2020). SME segmentation and regional development agencies’ innovation support measures. Regional Studies, Regional Science, 7(1), 511-531. https://doi.org/10.1080/21681376.2020.1811753
Lin, B. (2020). Sustainable Growth: A Circular Economy Perspective. Journal of Economic Issues, 54(2), 465-471. https://doi.org/10.1080/00213624.2020.1752542
MacKinnon, D., Dawley, S., Pike, A., & Cumbers, A. (2019) Rethinking Path Creation: A Geographical Political Economy Approach. Economic Geography, 95(2), 113-135. https://doi.org/10.1080/00130095.2018.1498294
Medeiros, E., & Rauhut, D. (2020). Territorial Cohesion Cities: a policy recipe for achieving Territorial Cohesion? Regional Studies, 54(1), 120-128. https://doi.org/10.1080/00343404.2018.1548764
Michálková, A., Krošláková, M.N., & Čvirik, M. (2023). Analysis of management on the development of regional tourism in Europe. Int Entrep Manag J, 1-22. https://doi.org/10.1007/s11365-023-00840-x
Mustafin, A.N., Kotenkova, S.N., Vozárová, I.K., & Kotuliˇc, R. (2022). Impact of Import Substitution Policy on Economic Growth. Economies, 10, 324. https://doi.org/10.3390/economies10120324
Rantala, T., & Ukko, J. (2019). Performance evaluation to support European regional development – A university–industry perspective. European Planning Studies, 27(5), 974-994. https://doi.org/10.1080/09654313.2019.1581728
Rauhut, D., & Humer. A. (2020). EU Cohesion Policy and spatial economic growth: trajectories in economic thought. European Planning Studies, 28(11), 2116-2133. https://doi.org/10.1080/09654313.2019.1709416
Saputra, K. A. K., Jayawarsa, A. A. K., & Atmadja, A. T. (2019). Resurrection as a fading implication of accountability in financial management for a village credit institution. International Journal of Business, Economics, and Law, 19(5), 258–268. https://www.ijbel.com/wp-content/uploads/2019/11/ K19_263.pdf
Saputra, K. A. K., Subroto, B., Rahman, A. F., & Saraswati, E. (2020). Issues of morality and whistleblowing in short prevention accounting. International Journal of Innovation, Creativity, and Change, 12(3), 77-88. https://ijicc.net/images/vol12/iss3/12314_Saputra_2020_E_R.pdf
State Statistics Service of Ukraine (2023). Multi-sectoral statistical information. Regional statistics. https://www.ukrstat.gov.ua/
Tödtling, F., & Trippl, M. (2018). Regional innovation policies for new path development – beyond neo-liberal and traditional systemic views. European Planning Studies, 26(9), 1779-1795. https://doi.org/10.1080/09654313.2018.1457140
Wu, D., & Dong, W. (2022) Does Local Government’s Competitive Behavior to Attract Foreign Investment Affect Ecological Welfare Performance? Evidence from China. Sustainability, 14, 12903. https://doi.org/10.3390/su141912903
Zhou, J., Raza, A., & Sui, H. (2021) Infrastructure investment and economic growth quality: empirical analysis of China’s regional development. Applied Economics, 53(23), 2615-2630. https://doi.org/10.1080/00036846.2020.1863325
Published
2023-04-30
How to Cite
Medvedieva, M., Oneshko, S., Roik, O., Yaremko, I., & Khudaverdiyeva, V. (2023). Efficiency of managing regional economic development in wartime (Ukrainian experience). Amazonia Investiga, 12(63), 214-223. https://doi.org/10.34069/AI/2023.63.03.20
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