Economy of Ukraine
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№ 4/2022

Ekon Ukr. 2022 (4): 3–27
https://doi.org/10.15407/economyukr.2022.04.003

УДК 336 : 330.15

JEL: G20, G28, G38, G41, F65, O16, R11, R58

BYSTRIAKOV Ihor1, KLYNOVYI Dmytro2, KORZHUNOVA Nataliia3

1Institute of Environmental Economics and Sustainable Development of the NAS of Ukraine”, Research ID : http://www.researcherid.com/rid/
OrcID ID : https://orcid.org/https://orcid.org/0000-0001-6482-7099
2Institute of Environmental Economics and Sustainable Development of the NAS of Ukraine, Research ID : http://www.researcherid.com/rid/
OrcID ID : https://orcid.org/0000-0002-3034-8097
3Institute of Environmental Economics and Sustainable Development of the NAS of Ukraine, Research ID : http://www.researcherid.com/rid/
OrcID ID : https://orcid.org/https://orcid.org/0000-0003-0075-7284


FORESIGHT APPROACH TO ORGANIZATION AND FINANCING OF SUSTAINABLE ECONOMIC MANAGEMENT


The substantive features of the foresight methodology as a means to implement sustainable economic management are revealed, the basic formats and algorithm for the organization of financing of sustainable economic management on the basis of foresight approach are outlined. Emphasis is placed on the need to update the methodology for managing the sustainable development of economic systems using the foresight approach. Foresight design is identified as an effective tool for proactive management of economic systems, which creates opportunities for the formation of financial and logistical chain of funding the projects that involve natural resources in economic circulation, taking into account key competencies and smart specialization of various spatial entities with the participation of key economic process stakeholders - government, business and population.
Creating funds for sustainable development financing is proven expedient, three main formats of their functioning are proposed: budget - focused on the target of professional financial planning of budget expenditures for the future, taking into account foresight strategy; service - related to the target functions of public-private partnership and involvement of business structures and their resources in the implementation of foresight; project - aimed at the formation of balanced, from the standpoint of liquidity, profitability and capital structure of investment proposals, secured, in turn, by income from foresight projects.
The structural scheme of step-by-step interaction of economic process stakeholders in the organization of sustainable financing of foresight in a platform format is proposed. The basic stages of financing the foresight project of sustainable development are outlined, including the stage of investment, when the public sector and business structures enter into agreement on partnership in the investment project; the issue stage when a special legal entity SPV with the participation of an independent rating agency and under the supervision of a state regulator issues and sells on the stock market securities secured by future income from the project; the stage of refinancing the project by SPV company for its completion or operation or modernization and settlement with investors and originators on the issued financial obligations, etc.


Keywords:foresight project; sustainable finances; sustainable economic management; management.

Article original in Ukrainian (pp. 3 - 27) DownloadDownloads :33
The article was received by the Editorial staff on January 12 , 2022

References

1. Bystryakov I., Klynovyi D. Busyness-ecosystem concept of sustainable management. Environmental Economics and Sustainable Development, 2020, No. 8 (27), pp. 21-27 [in Ukrainian].
doi.org/10.37100/2616-7689/2020/8(27)/3

2. Bystriakov I.K., Klynovyi D.V. The platform economy of spatial business ecosystems:an innovative trend of the sustainable development. Science and Science of Science, 2019, No. 3 (105), pp. 3-25 [in Ukrainian].
doi.org/10.15407/sofs2019.03.003

3. Bystriakov I.K., Klynovyi D.V. Conceptual features of sustainableeconomic management. Science and Science of Science, 2021, No. 3 (113), pp. 3-19 [in Ukrainian].
doi.org/10.15407/sofs2021.03.003

4. Honchar H.P., Verbitska I.I. Foresight project as an effective method for economic development of the region, available at: dspace.wunu.edu.ua/jspui/bitstream/316497/39007/1/%D0%A4%D0%BE%D1%80%D1%81%D0%B0%D0%B9%D1%82%20%D1%81%D1%82.pdf [in Ukrainian].

5. Di Cesare M. Financing of foresight research. Science. Innovations. Education, 2008, Vol. 5, pp. 173-176, available at: riep.ru/upload/iblock/7e5/7e5a2ba5aaa753a25524a656f2f5b039.pdf [in Russian].

6. Public-private forms of ensuring sustainable spatial development of Ukraine. M.A. Khvesyk (Ed.). Kyiv, 2019 [in Ukrainian].

7. Brykin A., Shumayev V. Experience in using foresight as an instrument of public-private partnership in the field of strategic development of the economy. RISK: Resources, Information, Supply, Competition, 2009, No. 4, pp. 12-18 [in Russian].

8. Kvitka S.A. Foresight in Public Administration: Methods and Perspectives of Implementation in Ukraine. Public Administration Aspects, 2018, Vol. 6, No. 8, pp. 56-70 [in Ukrainian].
doi.org/10.15421/151847

9. Bystryakov I., Klynovyi D. Principal approaches to ensuring economic homeostasis from theposition of sustainable finance. Environmental Economics and Sustainable Development, 2021, No. 9 (28), pp. 34-42 [in Ukrainian].
doi.org/10.37100/2616-7689.2021.9(28).5

10. Formation of spatial system for management of natural resource assets. M.A. Khvesyk (Ed.). Kyiv, 2020 [in Ukrainian].

11. Economic assessment of Ukraine's natural wealth. S.I. Pyrozhkov, M.A. Khvesyk (Eds.). Kyiv, 2015 [in Ukrainian].

12. Petrovska I.O., Klynovyi D.V. Electronic platforms for managing natural resource assets. In: Theoretical aspects and practical problems of management, economics and natural resource management in Ukraine. Proc. III Int. Sci.-Pract. Conf. (Kyiv, 21-22 Nov. 2019). Kyiv, 2019, pp. 161-163 [in Ukrainian].

13. Moroz V.V., Klynovyi D.V. Public-private partnership in digitalization of natural resources management of territorial communities. In: Ukraine 2030: public administration for sustainable development. Proc. Annual Int. Sci.-Pract. Conf. (Kyiv, 2020). Kyiv, 2020,Vol. 1, pp. 194-196 [in Ukrainian].

14. Bystryakov I.K., Klynovyi D.V. Sustainable finances as a socio-ecological innovation for sustainable economic management. In: Innovative solutions in economics, business, public communications and international relations. Proc. Int. Sci.-Pract. Internet Conf.Dnipro, 2021, pp. 45-48 [in Ukrainian].

1. Bystryakov I., Klynovyi D. Busyness-ecosystem concept of sustainable management. Environmental Economics and Sustainable Development, 2020, No. 8 (27), pp. 21-27 [in Ukrainian].
doi.org/10.37100/2616-7689/2020/8(27)/3

2. Bystriakov I.K., Klynovyi D.V. The platform economy of spatial business ecosystems:an innovative trend of the sustainable development. Science and Science of Science, 2019, No. 3 (105), pp. 3-25 [in Ukrainian].
doi.org/10.15407/sofs2019.03.003

3. Bystriakov I.K., Klynovyi D.V. Conceptual features of sustainableeconomic management. Science and Science of Science, 2021, No. 3 (113), pp. 3-19 [in Ukrainian].
doi.org/10.15407/sofs2021.03.003

4. Honchar H.P., Verbitska I.I. Foresight project as an effective method for economic development of the region, available at: dspace.wunu.edu.ua/jspui/bitstream/316497/39007/1/%D0%A4%D0%BE%D1%80%D1%81%D0%B0%D0%B9%D1%82%20%D1%81%D1%82.pdf [in Ukrainian].

5. Di Cesare M. Financing of foresight research. Science. Innovations. Education, 2008, Vol. 5, pp. 173-176, available at: riep.ru/upload/iblock/7e5/7e5a2ba5aaa753a25524a656f2f5b039.pdf [in Russian].

6. Public-private forms of ensuring sustainable spatial development of Ukraine. M.A. Khvesyk (Ed.). Kyiv, 2019 [in Ukrainian].

7. Brykin A., Shumayev V. Experience in using foresight as an instrument of public-private partnership in the field of strategic development of the economy. RISK: Resources, Information, Supply, Competition, 2009, No. 4, pp. 12-18 [in Russian].

8. Kvitka S.A. Foresight in Public Administration: Methods and Perspectives of Implementation in Ukraine. Public Administration Aspects, 2018, Vol. 6, No. 8, pp. 56-70 [in Ukrainian].
doi.org/10.15421/151847

9. Bystryakov I., Klynovyi D. Principal approaches to ensuring economic homeostasis from theposition of sustainable finance. Environmental Economics and Sustainable Development, 2021, No. 9 (28), pp. 34-42 [in Ukrainian].
doi.org/10.37100/2616-7689.2021.9(28).5

10. Formation of spatial system for management of natural resource assets. M.A. Khvesyk (Ed.). Kyiv, 2020 [in Ukrainian].

11. Economic assessment of Ukraine's natural wealth. S.I. Pyrozhkov, M.A. Khvesyk (Eds.). Kyiv, 2015 [in Ukrainian].

12. Petrovska I.O., Klynovyi D.V. Electronic platforms for managing natural resource assets. In: Theoretical aspects and practical problems of management, economics and natural resource management in Ukraine. Proc. III Int. Sci.-Pract. Conf. (Kyiv, 21-22 Nov. 2019). Kyiv, 2019, pp. 161-163 [in Ukrainian].

13. Moroz V.V., Klynovyi D.V. Public-private partnership in digitalization of natural resources management of territorial communities. In: Ukraine 2030: public administration for sustainable development. Proc. Annual Int. Sci.-Pract. Conf. (Kyiv, 2020). Kyiv, 2020,Vol. 1, pp. 194-196 [in Ukrainian].

14. Bystryakov I.K., Klynovyi D.V. Sustainable finances as a socio-ecological innovation for sustainable economic management. In: Innovative solutions in economics, business, public communications and international relations. Proc. Int. Sci.-Pract. Internet Conf.Dnipro, 2021, pp. 45-48 [in Ukrainian].


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