Impact of institutional factors on formation of economic development and potential of Carpathian region


  • H. V. Mashika Mykachevo State University, Mykachevе

Abstract

The main purpose of the article is to assess the impact of institutional factors on the formation and development of the economic potential of the Carpathian economic region. The study used scientific methods, in particular: the methods of theoretical generalization - to summarize the theoretical foundations of the functioning of the region’s economic potential; systems approach - to support the full impact of institutional factors on the formation and development of the region’s economic potential; the concept of “institutional matrix” - to select a set of trends and institutional performance analysis; economic  and statistical methods - to determine the dynamics of socio-economic development of Ukraine and the Carpathian economic region. Analysis of the impact of institutional factors on the development of the economic potential of the economy and regions is an integral part of the research of many international economic organizations such as the Doing Business (World Bank & IFC); Corruption Perceptions Index (Transparency International); Worldwide Governance Indicators (World Bank). In this study were analyzed by statistical data that characterize the level of socio-economic development (gross regional product gross regional product per capita, etc.) moreover, the degree of development of market institutions in Ukraine and the Carpathian region of small business, market competition, labor market efficiency, exchange and financial market institutions. It was found a significant backlog of average Ukrainian Carpathian region of the socio-economic development. The conclusion of inefficient use of the competitive advantages of the region - a wide range of cross-border cooperation with Moldova, Hungary, Slovakia, Poland, Romania. They stressed the need to increase the investment attractiveness of the region, the full support    of small business in trade, agriculture, construction, tourism industry through the introduction of sustainable development principles. The findings are the basis for solving practical problems of formation and development of the economic potential of the Carpathian region; improve the efficiency of the labor market, the business sector, the growth of incomes of local budgets, which is especially important in the context of decentralized regions.Keywords: economic potential, the institutional environment, institutional factors, Carpathian region, regional development

Author Biography

H. V. Mashika, Mykachevo State University, Mykachevе
Mykachevo State University, Mykachevе 

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Published
2016-05-31
How to Cite
Mashika, H. (2016). Impact of institutional factors on formation of economic development and potential of Carpathian region. Journal of Geology, Geography and Geoecology, 24(1), 82-89. https://doi.org/https://doi.org/10.15421/111612