FORMATION OF INVESTMENT RISKS UNDER THE INFLUENCE OF THE COVID-19 PANDEMIC IN UKRAINE
DOI:
https://doi.org/10.37332/2309-1533.2021.3-4.6Keywords:
Key words, investment risks, investment policy, uncertainty, investment climate, COVID-19 pandemic, investment activity, investment security.Abstract
Berliak H.V., Mahnushevska T.M. FORMATION OF INVESTMENT RISKS UNDER THE INFLUENCE OF THE COVID-19 PANDEMIC IN UKRAINE
Purpose. The aim of the article is to study the situation and develop practical recommendations for improving approaches to investment risk management under the influence of adverse factors caused by the COVID-19 pandemic.
Methodology of research. The following methods were used in the study: theoretical synthesis and observation (to identify investment risks and determine their possible consequences), comparison and analysis (to study the experience of countries in overcoming the situation caused by the coronavirus pandemic), tabular (to visualize risks and possible methods for overcoming them), generalization (for theoretical generalization and formulation of conclusions). The study is based on the hypothesis that the identification of investment risks will help to choose an effective investment policy of the state and attract the necessary investment resources needed for the development of our country and overcoming the crisis caused by the global coronavirus pandemic.
Findings. Approaches to determining investment risks among domestic researchers are generalized. The impact of risks on the state of the economy in general and investment activities in particular is considered, and the possible consequences of economic, social, informational, political and technological risks on investment processes in the country are also determined. Possible options for dealing with the situation caused by the pandemic in various countries, including Italy (development of a financing program for manufacturers of medical devices), the United States (tax rebates for manufacturers related to the fight against COVID-19), Canada subsidies for training and development of digital skills of the population), Egypt (reduction of prices for natural gas and electricity for certain industries).
Originality. Proposals were developed to overcome the consequences of the negative impact on the country’s economy caused by the COVID-19 coronavirus pandemic.
Practical value. Substantiated on the results of the study, the proposals can be used by public authorities and business structures to take measures to prevent the negative consequences of investment risks and attract investment resources to overcome the economic crisis caused by the coronavirus pandemic.
Key words: investment risks, investment policy, uncertainty, investment climate, COVID-19 pandemic, investment activity, investment security.
References
Vasylenko, M.D., Novikov, V.P., Rachuk, V.O. and Slatvinska, V.M. (2020), “Cybersecurity in the development of risks during the pandemic: the state of genesis”, Visnyk Cherkaskoho derzhavnoho tekhnolohichnoho universytetu, no. 3, pp. 30-38, available at: http://vtn.chdtu.edu.ua/article/view/214774/218625 (access date April 04, 2021).
Hrytsenko, L.L. “Public investment policy: essence, goals and objectives”, available at: http://www.kntu.kr.ua/doc/zb_22(2)_ekon/stat_20_1/15.pdf (access date April 09, 2021).
Ivashova, L.M. and Ivashov, M.F. (2013), “Investment risks of attracting foreign investments into the economy of Ukraine and ways to overcome them”, Zbirnyk naukovykh prats Tavriiskoho derzhavnoho ahrotekhnolohichnoho universytetu (ekonomichni nauky), no. 3(23), pp. 228-235.
Kolomiiets, N.O. (2016), “Investment risks and their essence”, Aktualni problemy innovatsiinoi ekonomiky, no. 1, pp. 162-172.
Mukha, D. (2020), “The transformation of the investment policy in the context of a pandemic COVID-19”, Banking Journal, no. 7(684), pp. 59-72, available at: https://www.nbrb.by/bv/articles/10777.pdf. (access date April 09, 2021)
Tkach, S.M. (2015), Upravlinnia ryzykamy investytsiinoi diialnosti v rehioni: teoretychni osnovy ta prykladni aspekty [Risk management of investment activity in the region: theoretical foundations and applied aspects], monograph, DU «Instytut rehionalnykh doslidzhen imeni M. I. Dolishnoho NAN Ukrainy», Lviv, Ukraine, 234 p.
“In 2020, foreign direct investment in Ukraine virtually stopped”, Agravery, available at: https://agravery.com/uk/posts/show/u-2020-roci-prakticno-zupinilisa-nadhodzenna-pramih-inozemnih-investicij-v-ukrainu (access date April 07, 2021).
Ministry of Economic Development, Trade and Agriculture of Ukraine (2020), “Ukraine: the impact of COVID-19 on the economy and society (vision of post-pandemic development in 2020-2024 through the eyes of experts and youth). Consensus forecast”, Kyiv, Ukraine, no. 52, 50 p., available at: https://www.unicef.org/ukraine/documents/consensus-report (access date April 09, 2021).
Fedorchak, O. (2016), “Basic approaches to the scientific definition of the investment climate”, Efektyvnist derzhavnoho upravlinnia, Iss. 1/2 (46/47), Part 1, pp. 162-171.
“COVID and investments”, available at: https://www.vedomosti.ru/finance/articles/2020/07/ 05/834008-covid-investitsii (access date March 31, 2021).
“COVID-19 and human capital. Economic Report for the Europe and Central Asia Region. 2020”, available at: https://openknowledge.worldbank.org/bitstream/handle/10986/34518/211643RU.pdf? sequence=5&isAllowed=y (access date April 01, 2021).
COVID-19 Risks Outlook: A Preliminary Mapping and Its Implications 2020, available at: https://coronavirus.marsh.com/ru/ru/insights/research-and-briefings/covid-19-risks-outlook-preliminary-mapping-and-implications.html (access date April 02, 2021).
Investment Policy Monitor. Investment policy responses to the COVID-19 pandemic, available at: https://investmentpolicy.unctad.org/publications/1225/investment-policy-monitor-special-issue---investment-policy-responses-to-the-covid-19-pandemic (access date March 30, 2021).
Downloads
Published
Issue
Section
License
Open-access articles (open-access journals)
Authors whose articles are published in open-access retain all rights to the content of the articles.
Open access articles are committed to be published under Creative Commons Attribution (CC BY) 4.0. This license allows others to distribute, edit, correct and build upon your work, even commercially, as long as they indicate your authorship. Detailed information at Creative Commons site: https://creativecommons.org/licenses/by/4.0/
Permissions for open-access journals
If the article is published in open-access under CC BY 4.0 or CC BY-NC 4.0 (which was possible till the 15th of December, 2018) licenses, users may reproduce it in accordance with their terms.
Additionally, if the article had been published under CC BY-NC 4.0 (this license authorizes others to download your works and share them with others as long as they indicate your authorship, but they can’t use them commercially in any case.), the use for the following commercial purposes requires permission:
– reproduction of content in a work or product intended for sale;
– reproduction in presentations, brochures or other marketing materials used for commercial purposes;
– distribution of the content to promote or market a person, product, course, service or organization;
– text and data mining for the purpose of creating a saleable product or product which benefits from promotional or advertising revenue;
– use of the content by a commercial entity or individual for the purposes of remuneration, directly or indirectly through sale, licensing, promotion or advertising;
– linking to the content (in an email, webpage, portable electronic device or otherwise) for the specific purpose of marketing or advertising a person, product, course, service or organization for commercial benefit.
For further details and permission requests, please contact.