The Efficiency of Financing the Regional Smart-Specialization Strategies’ Implementation from the EU Structural Funds

Storonyanska, Iryna; Melnyk, Mariana; Leshchukh, Iryna; Shchehlyuk, Svitlana; Medynska, Tetyana

doi:10.14207/ejsd.2021.v10n2p241

Cited by 4 publications

(2 citation statements)

References 6 publications

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“…Following Kravtsiv and Storonyanska (2020), Storonyanska and Benovska (2017), and Storonyanska et al (2020), the major problems of tax revenue generation in local budgets under the impact of the decentralization reform in Ukraine were detected and the risks of national and local levels were emphasized. In addition, according to Melnyk et al (2021), and Vatamanyuk-Zelinska and Sytnyk (2019), the negative trends in the economies of regions under the impact of quarantine measures introduced in the first wave of the COVID-19 epidemic were found. Yet, the regional economic systems' development trends in the coronavirus crisis require profound study as they cannot be explained solely by the laws and categories of economic theory.…”

Section: The Representatives Of the Mckinsey Globalmentioning

confidence: 99%

Economic activity vs generation of local budgets’ revenues: Regional disparities in COVID-19 instability

Storonyanska

Melnyk

Benovska

et al. 2021

Public and Municipal Finance

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In the last two years, Ukraine and the world have been living in economic instability caused by the COVID-19 pandemic, which has fundamentally changed the trends in global and domestic economies, public and local finance. This study aims to estimate the trends of economic development of Ukrainian regions in the coronavirus crisis and their impact on the local budgets’ tax revenues generation. Main findings show the impact of the COVID-19 crisis on the development of Ukrainian regions is territorially differentiated. It is determined that in quarantine restrictions, the regions were developing under the impact of behavioral and institutional factors. Although a range of enterprises terminated their activities and there was a decline in income from business activities in 2020, the tax revenues of local budgets increased. The growth of tax revenues was accompanied by decreasing interbudgetary transfers and growing expenditures on containing the spread of pandemics and supporting healthcare. Reduced transfers to local budgets from the public budget affected the funding of investment programs of regional development. The abovementioned effects of falling business activity and consumer expenditures of the population along with falling investment can be considered the delayed effects of economic activity curtailment in the short-term period. An intensive increase of public investment that stipulates projects co-funding from budget funds and resources of businesses and establishment of cooperation between public, regional, and local levels of government should become among the primary steps to overcome the negative trends.

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Section: The Representatives Of the Mckinsey Globalmentioning

confidence: 99%

Economic activity vs generation of local budgets’ revenues: Regional disparities in COVID-19 instability

Storonyanska

Melnyk

Benovska

et al. 2021

Public and Municipal Finance

Self Cite

View full text Add to dashboard Cite

show abstract

“…Moreover, the concept can only succeed in areas with the adequate capacity to benefit from it. As a similar concept implemented in cohesion policy, smart specialization, shows that less developed regions are incapable of the ability to "fully generate powerful innovations that would boost the economic activity in the smart-specialization domains" [43].…”

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confidence: 99%

EU Rural Policy’s Capacity to Facilitate a Just Sustainability Transition of the Rural Areas

2021

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The sustainability transition of rural areas is a must due to rapid climate changes and biodiversity loss. Given the limited resources of rural communities, policy should facilitate a just sustainability transition of the EU rural areas. The analysis of EU development policies, past performance and the envisaged scope of reform, presented in this study point to a serious inconsistency between the declaration and implementation of relevant policies. Namely, the marginal role rural areas perform in common agricultural policy and cohesion policy; a result of the lack of a complex approach to rural development. The analysis was based on the concept of good governance and took a multi-level perspective. It advocates territorial justice as an approach that should be at the core of creating a comprehensive policy for rural areas in the EU, including their diversity and empowering local communities to choose the transition pathway that is most in line with their current situation and development capacity. This analysis fills a gap in research on the evolution of the rural development policy in the EU. This research can inform the reprioritization and intensification of efforts to create equitable policies for EU rural development.

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Development of territories in the system of state regional policy

Shebanin

Umanska

Reshetilov

2021

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Ukraine`s regional policy is currently based on a desire for the long-term view and long-term planning for the development of territorial units, as well as the need to rationalize the use of resource potential and economic infrastructure on the local level. The tasks listed above are deemed necessary to improve the regions` and communities` competitiveness. The paper defines that the territory`s social and economic development continues to be closely connected with strategy, tactics, and implementation of public policy. Accordingly, amid the global economic and financial transformation the strategy and national regional policy need to be continuously improved. The article is devoted to the analysis of the modern trends and prospects for the development of Ukrainian territorial units in view of the current strategy and national regional policy, which are being implemented. Comparison, methods of abstraction, analysis and generalization, graphic and tabular modeling are the research methods used in the article. The paper determines that the prospects for the territory`s economy depend not only on strategy and national regional policy but also on long-term changes in social and economic development, rates of digitalization of Ukrainian economy, degree of innovations and technological effectiveness of domestic enterprises that cannot compete in the global market. A number of amendments to the local development decision were proposed by authors, namely utilizing the existing social and economic frameworks against the impact of the pandemic; promotion of effective demand, which in turn will help reduce local budgets deficits; improvement of taxation policies in order to balance income distribution and lessening the tax burden of the business; using an effective mechanism to allocate financial resources between territories, as well as local and national budgets; adopting an operational best practices in the fight against corruption on the local level, etc.

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The Efficiency of Financing the Regional Smart-Specialization Strategies’ Implementation from the EU Structural Funds

Cited by 4 publications

References 6 publications

Economic activity vs generation of local budgets’ revenues: Regional disparities in COVID-19 instability

Economic activity vs generation of local budgets’ revenues: Regional disparities in COVID-19 instability

EU Rural Policy’s Capacity to Facilitate a Just Sustainability Transition of the Rural Areas

Development of territories in the system of state regional policy

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