SYSTEM-FORMING INNOVATIVE INSTITUTIONS OF THE AGRARIAN MARKET

Maksym Odnorog (), Nataliia Kraus () and Liudmyla Savchuk ()
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Maksym Odnorog: Scientific-Research Financial Institute, State Educational-Scientific Establishment "Academy of Financial Management", Ukraine
Nataliia Kraus: Borys Grinchenko Kyiv University, Ukraine
Liudmyla Savchuk: Bila Tserkva National Agrarian University, Ukraine

Baltic Journal of Economic Studies, 2019, vol. 5, issue 3

Abstract: The agrarian market of Ukraine and its basic component, agriculture, is the backbone of the national economy, forms the basis of preserving the sovereignty of the state food and, within a certain range, economic, environmental, and energy security, ensures the development of technologically related sectors of the national economy, and forms socio-economic development of rural areas, therefore, the purpose of the paper is to develop scientifically-based proposals to identify the role of strategic institutions of the agricultural market. Methodology. The theoretical and methodological basis of the research is the dialectical method of cognition and systematic approach, which are used for studying theoretical and methodological foundations of strategic innovation institutes of the agricultural market. The results showed that the article examines the strategic factors that determine the efficiency of functioning of the agrarian market. The results of the monitoring and analysis of the formation of the institutional market environment are presented. There are proposed a model and priority directions of formation and development of systematizing institutions of the agricultural market. Practical implications. The studied institutions create incentives for the development of science and education, encourage the mobility of production factors, facilitate the transfer of scientific and technical information and the introduction of new technologies, promoting entrepreneurship and innovation. Conversely, inefficient institutions reduce the potential level of wellbeing, reliability of property rights, and enforcement of contracts. Value/originality. The increasing importance of innovation institutions of the agricultural market enables you to define the latter as an important intangible factor in the development of the economy and society that create the conditions necessary for the transformation and development of the agrarian market. The system of formation of a modern institutional environment should include a system of regulators, which would provide favourable conditions for attracting domestic and foreign investment, further structuring of the economic complex of the agricultural market, reduction of regional asymmetries of socioeconomic development. How full individual investment units will operate in the institutional environment depends on the realization of economic and social development priorities of the Ukrainian village.

Keywords: institute; institute of agrarian market; model and directions of formation of market institutions (search for similar items in EconPapers)
JEL-codes: E11 F14 G20 G23 N20 N50 O13 O17 O31 O32 P32 Q12 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2019:5:3:20

DOI: 10.30525/2256-0742/2019-5-3-152-158

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