ISSN 2221-1055  •  e-ISSN 2413-2322

Macroeconomic investment process in agriculture of Ukraine

Received: 26.07.2021 Revised: 16.09.2021 Accepted: 30.09.2021
Abstract

Investments in agriculture are an essential factor in implementing the enormous potential of the agricultural sector in Ukraine and accelerating economic growth and development. The scientific approaches to the significance of the mechanism of regulation of investment activity, which will ensure the development of a set of efficient investment flows, are investigated. The purpose of the study is to substantiate the theoretical provisions on the essence and features of the investment process and the most significant areas of its activation in agriculture. In the course of the study, the following methods were used: dialectical – in the knowledge of investment processes and phenomena; abstract-logical – substantiation of theoretical provisions on the development of investment processes; economic-statistical – identification of trends and patterns in the investment process; graphical – estimates of the main indicators of the dynamics and structure of investments; correlation-regression analysis – establishing interdependencies between indicators; strategic planning – in substantiating the investment forecast. The theoretical provisions and methodological approaches to assessing the macroeconomic investment process by their main features are generalised, and the most significant areas of its activation in agriculture are substantiated. Theoretical provisions on the economic essence of the investment process were further developed, in particular, the definition of its concept about agriculture, 16 most significant features and areas of activation were proposed. The results of the study can be used in the development of investment strategies and national policy in agriculture

Keywords
investments; investment process; signs of investment process in agriculture; agricultural policy; investment forecast
Details
DOI https://doi.org/10.32317/2221-1055.202109019
Pages 19-30

[1] Shubravska, O. (2012). Innovative development of the agricultural sector of the economy of Ukraine: Theoretical and methodological aspect. Economy of Ukraine, 1, 27-35.

[2] Agricultural policy. Agricultural support. OECD Data. (n.d.). Retrieved from https://data.oecd.org/ agrpolicy/agricultural-support.htm.

[3] Bulman, A., Cordes, K.Y., Mehranvar, L., Merrill, E. & Fiedler, Y. (2021). Guide on incentives for responsible investment in agriculture and food systems. Rome: FAO and Columbia Center on Sustainable Investment.

[4] Prinziples for responsible Investment in Agrikulture and Food Systems: FAO CFS Secretariat, 2014. (2014, October). Retrieved from http://www.fao.org/3/au866e/au866e.pdf.

[5] Policy Framework for Investment in Agriculture. OECD. (2013, April). Retrieved from https://www. oecd.org/daf/inv/investment-policy/PFIA_April2013.pdf.

[6] Understanding Impact Performance. Agriculture Investments, Global Impact Investing Network. (2020). Retrieved from https://thegiin.org/assets/Understanding%20Impact%20Performance_ Agriculture%20Investments_webfile.pdf.

[7] COVID-19 and Land-based Investment: Changing Land-scapes. The Columbia Center on Sustainable Investment (CCSI). (n.d.). Retrieved from https://ccsi.columbia.edu/sites/default/files/content/docs/ publications/Covid-9%20and%20Land-based%20Investment%20%20Changing%20Landscapes%20 -%20FINAL.pdf

[8] Kremer, M., Gallant, S., Rostapshova, O. & Thomas, M. (2019). Is Development Innovation a Good Investment? Which Innovations Scale? Evidence on social investing from USAID’s Development Innovation Ventures1. USA: International Development or the United States Government.

[9] Rasmussen, J. (2016). The Investment Process for Capital Investments – The case of industrial energy-efficiency investments and non-energy benefits. Faculty of Arts and Sciences, FiF-thesis.

[10] Kremer, M., Petters, A., Nyarko, Y. & Walter T.F. (2021). Is Development Economics a Good Investment? Evidence on Scaling Rate and Social Returns, New York University Fbu Dhabi. Retrieved from https://nyuadi.secure.force.com/Events/nyueventregistra-tion?event=vp1STaQCzbzq4FcjHLHjuA3D3D/.

[11] Our Investment Methodology. 4Thought Financial Group. (2017, March). Retrieved from https://www.4tfg. com/investment-methodology.

[12] Dean, Hand, Hannah, Dithrich, Sophia, Sunderji & Noshin, Nova. (2020). Annual Impact Investor Survey (10th ed). New York: The GIIN.

[13] Amit, Bouri, Abhilash, Mudaliar, Hannah, Schiff, Rachel, Bass & Hannah, Dithrich. (2018). Roadmap for the Future of Impact Investing. Reshaping Financial Markets. New York: The GIIN. March.

[14] Korutarom, B. & Biekpem, N. (2013). Effect of business regulation on investment in emerging market economies. Review of Development Finance, 3, 41-50.

[15] Farooq, U., Ahmed, J. & Khan, S. (2021). Do the macro-economic factors influence the firm’s investment decisions? A generalized method of moments (GMM) approach. International Journal of Finance & Economics, 26, 790-801.

[16] Eskesen, Alison, Agrawal, Rashi, & Desai, Noopur. (2014). Small and medium enterprises in agriculture value Chain. Opportunities and Recommendations Research. Retrieved from https://iixfoundation. org/wp-content/uploads/2011/08/OXFAM-SME-Report-November2014FINAL.pdf.

[17] Agricultural Investment Policy: Ukraine. Sectoral Competitiveness Strategy for Ukraine − Phaze III. Report on the results of the project. OSDE Eurasia Competitiveness Programme. (2015). Retrieved from https://www.oecd.org/eurasia/competitiveness-programme/eastern-partners/Agricultural_ Investment_Policies_Ukraine_UKR.pdf/.

[18] Order of the Cabinet of Ministers of Ukraine No. 595-r “On approval of the Strategy to promote private investment in agriculture until 2023”. (2019, July). Retrieved from https://zakon.rada.gov.ua/laws/ show/595-2019-%D1%80#Text.

[19] Kisil, M.I. (2018). Investment security of further development of agriculture of Ukraine in strategic perspective. Bulletin of Agricultural Science, 1, 78-82.

[20] Lupenko, Yu.O., & Zakharchuk, O.V. (2018). Investment provision of innovative development of Ukrainian agriculture. Ekonomika APK, 11, 9-18.

[21] Mamontova, N.A. (2017). Improving the mechanism of investment support for the development of agriculture in Ukraine. Scientific Notes of Ostroh Academy National University, “Economics” series, 6, 8-13. Retrieved from http://nbuv.gov.ua/UJRN/Nznuoa20176.

[22] Reznik, N.P., Slobodianyk, A.M. & Kotliarov, V.O. (2018). Investment support of competitiveness of agro-industrial formations. Kyiv: DP “VD “Personal”.

[23] Ilchuk, V., & Shpomer, T. (2017). Innovation and investment activity of agro-industrial complex: Current state and problems of development. Agricultural and Resource Economics, 3(1), 108-118. Retrieved from http://www.are-journal.com.

[24] Mezentseva, N.I., & Moroz, I.M. (2011). Investment activity in agro-food production of Ukraine: Regional aspects. Kyiv: Obrii.

[25] Kisil, M.I. (2015). Theoretical and methodological principles of evaluating the effectiveness of agribusiness: А scientific publication. Kyiv: NNTs «IAE».

[26] Reznik, N.P. (2008). Methodological aspects of economic assessment of the investment climate in Ukraine. Kul’tura narodov Prichernomor’ja, 126, 94-97. Retrieved from https://goo.gl/miUvYz. 

[27] Dem’ianenko, M.Ya., Luzan, Yu.Ya., Sabluk, P.T., & Skupyi, V.M., et al. (2003). Investment process. Financial dictionary-reference book. Kyiv: IAE UAAN.

[28] United Nations Environment Programme. Making Peace with Nature: A scientific blueprint to tackle the climate, biodiversity and pollution emergencies. Nairobi: 2021. Retrieved from https://wedocs. unep.org/xmlui/bitstream/handle/20.500.11822/34948/MPN.pdf.

[29] Statistical information. Capital Investments. (2022, July). Retrieved from http://www.ukrstat.gov.ua/ operativ/menu/menu_u/ioz_19.htm.

[30] Kuznet, S. (1930). Equilibrium economics and businesscycle theory. The Quarterly Journal of Economics, 45(1), 40-93. Retrieved from http://academic.oup.com.

Kisil, M. (2021). Macroeconomic investment process in agriculture of Ukraine. Ekonomika APK, 28(9), 19-30. https://doi.org/10.32317/2221-1055.202109019