Kozachenko Liliia, Ph.D. (Economics), Associate Professor, Associate Professor of the Department accounting and taxation, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0000-0003-3645-4066
e-mail: kozachenko15@ukr.net

Kramarenko Irina, Ph.D. (Economics), Associate Professor, Dean of the Faculty of Law and Social and Information Technologies, Mykolaiv Interregional Institute of Human Development of the “Ukraine” University, Mykolaiv, Ukraine

ORCID ID: 0000-0002-0417-0918
e-mail: Іrinamk86@gmail.com

Kyrylenko Anna, applicant for higher education of Accounting and Finance Faculty, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

e-mail: annakirilenko9633@ukr.net

Economic System Management of The Black Sea Region Efficiency as a Significant Development Tool of Investment Potential

Abstract. Introduction. Insufficient efficiency of systems of inter-regional distribution of income and resources, lack of sustainable structural and innovative shifts in the development of regional economy, insufficient efficiency of financial and investment mechanisms to overcome crisis phenomena, imbalance of production potential create obstacles to restructuring and modernization of economic complexities of economic complex and ensuring the efficient use of the region’s resource potential.

Purpose. The purpose of the article is to justify the effectiveness of economic system management of the Black Sea region as a significant development tool of investment potential.

Results. It is proved that development of the strategic decisions on improving management mechanisms of economic system of the region should be based on the results of continuous monitoring of the main indicators in socio-economic development of the region, giving grounds for development of priority actions and comprehensive strategic solutions to improve the management mechanisms of the economic system of the region. Methodological approaches in evaluating management effectiveness of the economic system of the region in transformational conditions have been developed, that allows to determine the current level regarding similar indicators, which was achieved inside the country and their trends under the influence of regional factors, to form “economic system management profile”, identify strong and weak points. Efficiency diagnostics of economic system management by oblasts in the Black Sea region was performed in accordance with the author’s approach. Based on the results of the analysis, it was determined, that the effectiveness of managing the economic system in all oblasts in the Black Sea region is approximately at the same level, which is 20 percent lower than the reference values for Ukraine. Negative is decrease in overall management efficiency in 2017 compared to 2015 in Mykolaiv and Kherson oblasts by 3.6 and 3.3%. Odessa oblast shows a certain growth (9.8%). However, within each of the oblasts there are certain problems that can be solved to improve region management efficiency.

Conclusions. It is proved that one of the most important strategic tasks that our country faces is to create a favorable investment climate as a basic prerequisite for launching active processes of development, reproduction and effective use of investment potential at all levels. The possibility of the country’s exit from the recession, structural adjustment and improving competitiveness of the national economy and its further socio-economic dynamics depends on the implementation of this task.

Keywords: management efficiency; economic system; «economic system management profile»; investment potential; the Black Sea region.

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