State regulation of investment activity in agriculture: modern aspects

Dziurakh Yuriy
PhD (Public Administration), Lecturer at the Department of Administrative and Financial Management, L’viv Polytechnic National University, Lviv, Ukraine, e-mail: yriu.dziurakh@ukr.net

Drugov Oleksiy
Doctor of economic sciences, professor, Professor at the Department of Administrative and Financial Management, Lviv, Polytechnic National University, Lviv, Ukraine, e-mail: oleksiy.druhov@gmail.com

Cite this article:

Dziurakh Y, Drugov O. State regulation of investment activity in agriculture: modern aspects. Scientific Bulletin of the Odessa National Economic University. 2021. № 3-4 (280-281). pp. 77-85.

Abstract

The purpose of the study is to consider the investment development of agriculture in Ukraine, its state regulation should be carried out comprehensively on the basis of strategic directions of state investment policy and regional investment initiatives. The research methodology is to study the adaptation of public administration methodology in the field of investment policy in accordance with modern requirements, which will accelerate the reform of state regulation of investment activities in agriculture and make significant progress in enhancing investment attractiveness in agriculture in Ukraine. The results of the study show that the economy of Ukraine has historical experience in developing means to stimulate investment activity. State regulation of investment activity in agriculture in Ukraine is in a relatively unstable state, both due to fluctuations in macroeconomic indicators and due to frequent changes in the priorities of state regulation. The article reveals the main directions of improving the state regulation of investment activities in agriculture, in particular: the formation of a holistic system of such regulation that ensures the smooth functioning of a number of its mechanisms and tools. As part of the introduction of such a system, an institutional and organizational model of state regulation of investment activity in agriculture is established. In order to implement this model, in the context of recommendations, Ukraine needs to improve the regulatory conditions for regulating investment flows, ensure the balance of relations between the state and private investor in the public-private partnership, increase Ukraine’s attractiveness for national and foreign capital investment in agriculturePractical significance of the study. To improve the investment climate and increase the competitiveness of Ukraine’s economy in the field of investment in agriculture, it is necessary to develop and implement a systematic strategy for attracting and directing investment, which should be based on the overall economic development strategy. It is necessary to provide high-quality theoretical and methodological support for this process. It is important to form a system of legislation that will provide state guarantees for the protection of domestic and foreign investments for a long time, standardization of the issue of investment risk insurance.

Keywords

development, agriculture, model of state regulation, investments, investment activity, investment activity.

JEL classification: : M120, Р240

УДК: 351.9 : 330.341.2 : 330.34 : 631.155 (477)

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