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The article proposes an algorithm for restoring the machine-building complex of Ukraine in wartime. Considerable attention was paid to the restoration of capital, taking into account the specifics of machine-building enterprises to improve the quality parameters of production. Analysis of recent research and publications. Significant scientific and practical experience has been accumulated, both by foreign and domestic experts, on the problem of solving the improvement of economic parameters of the machine-building complex of Ukraine, but the problem of restoring the machine-building complex in wartime is still relevant. The purpose of the article is to develop a management system for the reproduction of the machine-building complex of Ukraine. Scientific novelty and practical value. The theoretical provisions are obtained as a result of experimental studies of machine-building enterprises based on the principles and methods of strategic management of capital quality reproduction processes, which, unlike the existing ones, provide for a number of strategic alternatives, the choice of a comprehensive development strategy, the implementation of selected strategies, and forecasting the level of quality of production capital in machine-building.

In the debate on the impact of digital technology on society, considering that digital technologies have profoundly changed the way we learn and communicate, and especially the “mode of production”, and remembering that this transformation takes place in an era of capitalist economic hegemony – the hypothesis often arises that the producer is transformed by the use of this machine. There is speculation that the user incorporates the instrumentality of the digital machine. Furthermore, when one recognizes that capitalist production develops its process of value creation by using cognitive labour power (and that this form of value production becomes more and more prominent) the technological incorporation of the cognitive cooperation of workers, seems to become ever more central to capitalist exploitation. Consequently, in the Marxist debate, people have started talking of an “appropriation of fixed capital” by the digitized worker and by the cognitive producer. This article asks: Are these simply metaphors? It discusses the relationship of living labour and digital machines. It stresses that digital machines do not determine society and human fate but can be appropriated by social struggles for the commons. It grounds the analysis of the digital in Karl Marx’s works on technology and fixed capital. It concludes that autonomous spheres of digital self-valorisation can be established through social struggles that aim at advancing social co-operation and the commons. Acknowledgement: This article was translated from Italian to English by Michele Ledda with editorial support by Christian Fuchs, David Chandler, and Sara Raimondi. The paper is based on a talk that Antonio Negri gave at the 7th ICTs and Society Conference “Digital Objects, Digital Subjects: An Interdisciplinary Symposium on Activism, Research & Critique in the Age of Big Data Capitalism” on May 20, 2017, at the University of Westminster in London. The video of this talk is available here: https://www.youtube.com/watch?v=htm5xwAl-kE The video of the commenting and Q&A session that followed can be watched here: https://www.youtube.com/watch?v=-smmdOz9gIU The manuscript of Negri’s talk was published as part of a conference volume. It is reprinted based on a Creative Commons licence. Acknowledgement: Negri, Antonio. 2019. The Appropriation of Fixed Capital: A Metaphor? In Digital Objects, Digital Subjects: Interdisciplinary Perspectives on Capitalism, Labour and Politics in the Age of Big Data, edited by David Chandler and Christian Fuchs, 205-214. London: University of Westminster Press. DOI: https://doi.org/10.16997/book29.r. License: CC-BY-NC-ND 4.0. The original article was published in Italian in the journal EuroNomade and translated into English with permission: https://www.euronomade.info/appropriazione-di-capitale-fisso-una-metafora/

This article is a reflection and comment on Toni Negri’s essay “The Appropriation of Fixed Capital: A Metaphor?”. The comment first points out aspects of Negri’s reception of Marx. It stresses the continuities of the Grundrisse and Capital. In both, we can find a dialectical concept of technology. Second, this paper points out that Negri’s notion of the appropriation of technology/fixed capital should best be read as a critique of techno-optimism à la Marshall McLuhan and of techno-pessimism à la Martin Heidegger. Negri advances a dialectical concept of appropriation that is focused on the appropriation, and therefore transformation, of technology and society. Third, this reflection asks: What does it mean to appropriate digital machines? Concrete strategies of digital appropriation are outlined. The author argues that commons-public partnerships can be powerful political means of struggle against digital capitalism. Acknowledgement: This article was first published as a book chapter. It is reproduced based on a Creative Commons licence. Original source: Fuchs, Christian. 2019. Appropriation of Digital Machines and Appropriation of Fixed Capital as the Real Appropriation of Social Being: Reflections on Toni Negri’s Chapter. In Digital Objects, Digital Subjects: Interdisciplinary Perspectives on Capitalism, Labour and Politics in the Age of Big Data, 215-221. London: University of Westminster Press. DOI: https://doi.org/10.16997/book29.s

The article is devoted to the issues of statistical evaluation of investments in fixed capital in the Republic of Uzbekistan in the context of digital transformation. Authors consider investments in fixed capital as a set of costs that were directed to the acquisition and reproduction of equipment, buildings, structures, machinery, production and household equipment, transport, etc. The study is based on statistical methods, the use of specialized information systems, including digital technological solutions and special software products. As a result, it allows getting relevant information, conducting its accurate processing, presenting output reports and suggesting competent solutions on fixed capital investments’ technological structure improving, as well as methods and tools for effective work with external and internal investments in the conditions of the digital economy formation.

Digitalization in agriculture is of great importance in the modern world and in Ukraine. It contributes to increasing the efficiency and sustainability of the industry, reducing losses, and affects the overall development of rural areas. The implementation of digital technologies makes it possible to optimize production processes, increase yield and product quality, reduce resource costs (such as water, fertilizers, pesticides) and increase the profitability of agricultural enterprises. The use of data from agricultural sensors, drones, satellite images, etc. helps to detect problems in production in time, such as plant diseases, insufficient irrigation or pesticide removal, which allows to quickly prompt response and reduces losses. Remote monitoring of crop and climate conditions helps agriculture adapt to climate change and reduces vulnerability to natural disasters. The use of IoT (Internet of Things) and monitoring systems allows you to manage the use of water, energy and other resources more efficiently, which contributes to the preservation of the environment. The use of digital marketing and economic tools makes it easier for farms to find buyers for their products, make deals and conduct effective marketing. Digitalization can become a factor that will accelerate the development of infrastructure and raise the standard of living of the population in rural areas by increasing the availability of services and jobs. The research is relevant because the development of digital technologies in the agricultural sector of Ukraine has significant potential for strengthening its position in the world market, increasing economic efficiency and promoting sustainable development. This allows agricultural enterprises to respond to global challenges related to climate change, ensuring food security and the need to protect natural resources. [ABSTRACT FROM AUTHOR]

Infrastructure-type geographic objects correspond to a fundamental element of the contemporary geographic milieu. This article discusses some of the specificities of this type of geographic objects. To do so, we approximate the concept of economic infrastructure to the notion of technical macrosystems. We understand that both terms refer to large engineering systems that enable the operation of activities and the provision of services, allowing the proper functioning of the economic and social dynamics of a given portion of space. Also, we mobilized categories of Marxist political economy to understand how this set of geographical objects, more than acting as part of the general conditions of production, can also be constituted as a means of valorization, which occurs through its use as a specific type of fixed capital: the immobilized fixed capital of an independente kind, which we understand to correspond to a particular form of valorization of space. [ABSTRACT FROM AUTHOR]

The article details the issues of forecasting investments in fixed assets. The theoretical aspects (foreign experience) of using various forms of predictive models based on the analysis of foreign scientific literature are considered. Two different forecasting methods have been practically implemented using the example of building multiplicative and ARIMA models. Quarterly forecasts of the cost of investments in fixed assets for 2022–2023 in the Russian Federation are formulated. A comparison of the simulation results showed that the calculated values for both models describe the dynamics of the indicator well, the forecast values differ, and therefore an average (combined) forecast is built based on the prediction results for both implemented methods. The results of the study can be used in the practical activities of state and municipal bodies, enterprise management for quarterly forecasting of investments in fixed assets.

In this study, the authors aim to analyze the impact of pension asset investments on the economic growth of selected non-OECD countries, taking into account the controlling effect of gross fixed capital formation, domestic credit to the private sector, inflation, public debt and population. To conduct the econometric analysis in this study, the authors relied on secondary data published in the annual reports of the OECD, the World Bank and the IMF. Based on the econometric results of this study, the authors conclude that the investment of pension fund assets has positively impacted the economic growth of selected non-OECD countries (2002–2018). This study is of scientific importance because it provides detailed empirical evidence regarding the investment of pension funds in international financial markets and the effects of these investments on the economic growth of non-OECD countries. Moreover, the authors of this study through this scientific paper provide new scientific evidence to governments and policymakers in these countries on how to design appropriate strategic investment policies so that pension funds invest their pension assets at a safe rate of return from investments to ensure economic growth and efficiency in the capital markets. Given that most non-OECD countries are emerging and transition economies, the importance of this study lies in the fact that the authors, through empirical findings, highlight the importance of pension fund investments in global financial markets and the effects of these investments on the economic growth of these countries.

Presents the results of a study of the state investment policy of the Russian Federation. The monitoring of the volume of foreign direct investment, the results of international rating studies of the investment potential of Russia, the volume of investment in fixed capital by sources of financing and by types of economic activity was carried out. It is concluded that there are a number of problems that hinder the inflow of not only foreign, but also domestic investments. In order to increase the investment attractiveness of the Russian economy, it is proposed to use the experience of the United States in the development of insurance services for domestic and foreign investments.

Abstract Reswitching of techniques was shown to be possible in Leontief’s input–output model with flow and stock matrices. The finding is unearthed and related to the capital debate based on Sraffian models.

The increasing volume of construction financing, dictated by the national development goals of the Russian Federation, determines the increased role of rational choice of methods, mechanisms and tools of financial support for construction in order to make managerial decisions on the implementation of projects aimed at achieving the targets within the declared national development benchmarks of the Russian Federation. The aim of the study is to summarise and simplify the current methods, mechanisms and tools of financial support for construction within the framework of project implementation. A review of the current model of financial support for construction in the Russian Federation has been carried out. The main aspects of how to finance construction have been considered. A brief description of the main conditions of the envisaged mechanisms and instruments of financial support for construction has been provided. The analysis confirms the positive trend of the current construction financing model in the project implementation, creating conditions to stimulate the economy by reallocating funds to the real sector and providing a variety of tools in choosing construction financing methods to make rational management decisions on project implementation. The results of this study can be used by public authorities involved in the allocation and use of funds, financial institutions and other stakeholders to prepare management decisions on construction financing in project implementation.

The present research consists in creating the new paradigm design of fixed capital depreciation. The scientific approach summarizes direct and indirect effects regarding the profitability, risk and value of a company, dictated by the investment in fixed assets. The authors' solution to the presented problem is based on a specific research methodology that includes a series of methods and techniques, consequently representing an essential dynamic for a company, based on the new economy of knowledge. The new paradigm substantiated by the authors and defined the depreciation of fixed capital, is the investment in rigid assets, being decisive for the survival of a company under the conditions of economic internationalization. [ABSTRACT FROM AUTHOR]

The current market economy implies that the search for effective sources of financing the fixed assets reproduction is one of the key tasks in managing the fixed capital of the economic entity. In the changing external environment, modernized equipment of enterprises provides an opportunity to carry out innovative activities, as well as to implement investment projects. The aim of the research was to outline a modern approach to financing the reproduction of fixed assets based on the identification of the relationship between investments and innovations in this process. The research involved the following methods: analysis and synthesis to determine trends in the dynamics of capital investment in Ukraine and the Republic of Poland; regression analysis to forecast the capital investment volume in Ukraine and the Republic of Poland; the internal rate of return to evaluate the effectiveness of the innovation and investment project of a woodworking enterprise. Capital investment volumes in Ukraine and Poland are determined. The 2025 capital investment volume is projected at $8.02 billion in Ukraine (provided a stable rate of further economic decline), and at $110.2 billion in the Republic of Poland. The strategic priorities for the development of woodworking enterprises are outlined: the production of innovative products; implementation of effective solutions for products and markets provided full implementation of innovation and investment strategy; focus on current market needs; ensuring a minimum degree of risk with maximum control of the innovation and investment project; achieving a short-term return on investment with maximum liquidity of the project and the implementation of innovation and investment strategy. An innovation and investment project were developed for the production re-equipment to create an innovative model of interior doors, and its economic justification was carried out. [ABSTRACT FROM AUTHOR]

Purpose – In the current literature, there is little systematic research on the relationship among adjustment of the income distribution, change in economic structure and improvement of macroeconomic efficiency. Design/methodology/approach – This paper expands Marx's reproduction schema into the “Marx–Sraffa” three-department structure table comprising fixed capital, general means of production and means of consumption and employs China's input–output table from 1987 to 2015 to portray the relationship between income distribution and macroeconomic efficiency under investment-driven growth. Findings – This paper calculates the wage–profit curve of China's economy and evaluates the space of macroeconomic efficiency improvement in China based on the deviation between actual and potential income distribution structure. Originality/value – The results show that there is a downward trend of the profit rate, which meets Marx's theoretical prediction, and the decline in the profit rate is mainly attributed to an increase in the organic composition of capital arising from the rapid growth of fixed capital investment under extended growth. The analysis of macroeconomic efficiency shows that the space for improving macroeconomic efficiency is extremely limited under traditional growth pattern and that China must transform its economic development pattern and foster new economic growth drivers.

Reswitching of techniques was shown to be possible in Leontief's input–output model with flow and stock matrices. The finding is unearthed and related to the capital debate based on Sraffian models. [ABSTRACT FROM AUTHOR]

In this study, the authors aim to analyze the impact of pension asset investments on the economic growth of selected non-OECD countries, taking into account the controlling effect of gross fixed capital formation, domestic credit to the private sector, inflation, public debt and population. To conduct the econometric analysis in this study, the authors relied on secondary data published in the annual reports of the OECD, the World Bank and the IMF. Based on the econometric results of this study, the authors conclude that the investment of pension fund assets has positively impacted the economic growth of selected non-OECD countries (2002--2018). This study is of scientific importance because it provides detailed empirical evidence regarding the investment of pension funds in international financial markets and the effects of these investments on the economic growth of non-OECD countries. Moreover, the authors of this study through this scientific paper provide new scientific evidence to governments and policymakers in these countries on how to design appropriate strategic investment policies so that pension funds invest their pension assets at a safe rate of return from investments to ensure economic growth and efficiency in the capital markets. Given that most non-OECD countries are emerging and transition economies, the importance of this study lies in the fact that the authors, through empirical findings, highlight the importance of pension fund investments in global financial markets and the effects of these investments on the economic growth of these countries. [ABSTRACT FROM AUTHOR]

The article is based on the archival files of joint-stock companies in the film industry, stored in the fonds of the Russian State Historical Archive (RGIA), the Russian State Archive of Literature and Art (RGALI), and the Central State Historical Archive of St Petersburg (TsGIA SPb) as well as statistics digests Joint-Stock Companies of Russia (1912–1917) and scientific literature and focuses on the analysis of the activities of A. Khanzhonkov and Co Joint-Stock Company and its competitors in the film industry at the beginning of the twentieth century. A. Khanzhonkov’s joint-stock company, which gradually developed from a small trade and commission business that supplied the Russian market with films and equipment produced mainly by European, became a leader in the Russian pre-revolutionary film market. The company steadily made a profit, increased its fixed and reserve capital, and also paid dividends to shareholders annually. The author came to the conclusion that it is A. Khanzhonkov and Co Joint-Stock Company that was most successful and effective in the field of production and distribution of films among Russian film companies firms and was a real competitor to the branches of leading foreign companies in Russian film business, such as Gaumont and Pathé Brothers. However, the company was unable to fully exploit the opportunities which emerged after the outbreak of the First World War due to the withdrawal of a number of branches of leading foreign companies from the film market. By keeping his firm in the form of a joint-stock company, A. Khanzhonkov actually hindered its development himself by not issuing shares for free sale on the stock exchange. Therefore, the company constantly suffered a lack of investment. This was especially evident after the February Revolution of 1917, when new companies entered the film business, which significantly increased competition in the film market. The attempt to transfer the company’s activities to the Crimea in connection with the construction of a new Yalta film studio was not successful, primarily due to the deterioration of the overall political and economic situation in the country.

The current market economy implies that the search for effective sources of financing the fixed assets reproduction is one of the key tasks in managing the fixed capital of the economic entity. In the changing external environment, modernized equipment of enterprises provides an opportunity to carry out innovative activities, as well as to implement investment projects. The aim of the research was to outline a modern approach to financing the reproduction of fixed assets based on the identification of the relationship between investments and innovations in this process. The research involved the following methods: analysis and synthesis to determine trends in the dynamics of capital investment in Ukraine and the Republic of Poland; regression analysis to forecast the capital investment volume in Ukraine and the Republic of Poland; the internal rate of return to evaluate the effectiveness of the innovation and investment project of a woodworking enterprise. Capital investment volumes in Ukraine and Poland are determined. The 2025 capital investment volume is projected at $8.02 billion in Ukraine (provided a stable rate of further economic decline), and at $110.2 billion in the Republic of Poland. The strategic priorities for the development of woodworking enterprises are outlined: the production of innovative products; implementation of effective solutions for products and markets provided full implementation of innovation and investment strategy; focus on current market needs; ensuring a minimum degree of risk with maximum control of the innovation and investment project; achieving a short-term return on investment with maximum liquidity of the project and the implementation of innovation and investment strategy. An innovation and investment project was developed for the production re-equipment to create an innovative model of interior doors, and its economic justification was carried out.

The article is aimed at examining the essence of financial sustainability and financial reliability of consumer cooperation enterprises in Ukraine. The structure, sources of formation, directions of use and efficiency of use of financial resources in consumer cooperation are considered. To study the coefficients of financial sustainability, the division of capital by sources of formation and terms of use is provided. To assess long-term financial sustainability, the following indicators are proposed: working capital level; coefficients of financial independence, long-term financial independence, provision of own circulating capital; level of financial reliability. In the process of analyzing the capital structure of Ukrainian enterprises in general and consumer cooperation in particular, is identified: higher financial sustainability of enterprises and organizations of consumer cooperation; lower dependence on short-term loans and other funds attracted for the short term; higher level of working capital and profitability of activities, despite the financial and economic crisis of 2014-2015. Prospects for further research in this direction are to determine the levels and indicators of financial equilibrium of enterprises, in particular, the balance of positive and negative cash flows by volume, and the optimal combination of the levels of both profitability and risk.

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An increase in fixed capital investments is necessary for accelerating the growth of the Russian regions and the economy as a whole and requires increased financial resources. The paper considers the possibility of increasing financial resources of regional companies by attracting additional debt financing. The proposed methodology determines the potential demand for debt financing, considering the performance requirements ensuring financial stability. The paper analyses how an increase in debt financing influences credit rating of a company as well as the cost of debt financing attraction. Unlike other works, this paper considers the debt capital structure of companies. Additionally, the study proposes a methodology for identifying changes in the coefficient of interest coverage (that affects credit rating of companies) depending on various debt financing structures. The application of the developed methodology allowed determining the potential increase in debt financing, which is necessary for the investment of regional companies. Debt financing can increase by 1.7 times (43.5 trillion roubles) in Russia in general, 1.4 times in the Sverdlovsk region, 2 times in the Tyumen region, and 1.6 times in the Chelyabinsk region. There are no opportunities to increase debt financing in the Kurgan region. A reduction in interest rates on loans to non-financial companies allows expanding debt financing of the Russian economy without lowering the credit rating. The study results can be used to determine the potential demand for debt financing from companies, industries, regions and the economy as a whole. Further research may consider the validity of the policy of high interest rates on loans to non-financial companies for achieving high economic growth.

In the current condition of financial dominance over the production processes, the growth and consolidation of the Real Estate Investment Funds (FII, Brazilian REIT) in the Metropolitan Region of São Paulo are designated as an increasingly relevant model of urban space instrumentalization and, therefore, of the constitution of a specific capital ownership regime whose centrality resides in interest and rent. Because of this, the present work demonstrates how the development of the instrument had repercussions on the metropolitan region of São Paulo since the global financial crisis of 2008. Furthermore, the FII was qualified as an autonomous large fixed capital structure that, in the light and determination of finances, engenders complex mechanisms of capital appropriation and reproduction through the urban space. The qualitative method used here demonstrates empirically the process of expansion of the FII over the metropolis, being later articulated in the theoretical debate. The work concludes that the real estate and financial entanglement, viable through sophisticated instruments, circumvents the barriers historically present in the real estate sector, taking it as a great vector for the expansion of financial capital. [ABSTRACT FROM AUTHOR]

The article is devoted to identifying the impact of factors on the increasing labour productivity in the economies of the European Union-27 (EU-27) and Ukraine. The system of influencing factors that must be taken into account in the assessment of the labour productivity indicator was substantiated. The factors are based on the most significant indicators of innovative development (innovative activity; formation and the use of personnel; the state of use of fixed capital; the composition of the payroll budget; investment activity; and the use of working time). Based on the use of the method of linearization of the labour productivity model, the rating coefficients of the influence of factors for the economies of the EU-27 and Ukraine were determined. It has been proven that the following factors have a significant positive impact on labour productivity: an increase in the costs of scientific research and development; the growth of enterprises expenditures on research and development (R&D) in high-tech sectors; the increase in the share of scientific research personnel and researchers in the total number of the employed population; the growth of costs for the innovation of industrial enterprises; an introduction to the production of new technological processes and innovative types of products; the purchase of machinery, equipment, and software; an increase in the share of the employed population that has a basic higher education (bachelor’s degree); the growth in the share of the employed population that has a full higher education (master’s degree); the increase in the share of enterprises providing training; the increase in the capital–labour ratio; the technological equipment of labour; the machine equipment of labour; the renewal of fixed capital; and the increase in the level of intellectualization of fixed capital. The available reserves for increasing the labour productivity in EU-27 economies and Ukraine were clarified, and recommendations for managing the labour productivity in the conditions of innovative development have been provided. This study gains relevance when Ukraine has assumed the official status of an EU candidate country and the advantages and potential difficulties in the membership process should be evaluated. Labour productivity will be one of the key factors in the post-conflict recovery of the economy.

Marx’s Fragment on Machines is sometimes held up as a creative departure from orthodoxy, and a prescient harbinger of a knowledge economy. In particular the concept of general intellect, which appears uniquely in the Fragment, is celebrated as a key theoretical innovation. This article presents a close reading and critical interpretation of the text of the Fragment to argue, firstly, that its primary theme is not general intellect, but fixed capital; secondly, that its emphasis on fixed capital is unduly narrow and productivist, leading to an equally narrow treatment of labour and value; and finally, it seeks to explain why Marx produced this odd work, so much out of step with the main current of his thought, at the time and in the way that he did.

Cyclical fluctuations in the market economy have been the focus of attention of researchers for many years. Today, the process of reproduction is becoming cyclical, which is a problem of interest of all economic agents. The purpose of the article is to reveal the main causes of economic cycles, their nature and to show the effect of cyclical fluctuations on the production process and employment, as well as in the development of a new socio-economic society as a whole. The article shows the essence of each stage, their disadvantages and advantages, influence on the formation of a creatively developed person.

Ukraine's agricultural sector accounts for 17% of the country's GDP and is continuously growing. For six consecutive years (2013-2018), Ukraine harvested over 60 million tons of grain annually, and 2018 export of ag commodities reached $18.6 billion. (State, 2020). The anticipated land reform envisions lifting the moratorium on the agricultural land sale, which should encourage capital investments in ag. The article analyzes the trends of investment opportunities in the Ukrainian ag sector for the last decade. The regression analysis of labor productivity with variables of fixed capital-worker ratio and yield of grain confirmed that the function of labor productivity depended on the value of fixed capital per worker. As the U.S. investment in ag machinery export to Ukraine plays a significant role, we evaluated its effect on the current level of labor productivity in the Ukrainian agribusiness, comparing it with the U.S. farming outcome.

In accordance with the existing standards applied to estimate the performance of regional public authorities, the quantitative indexes comprise such variables as ‘amount of fixed investments’ and ‘the tax revenues of regional budgets’. To the authors’ opinion, these variables are in mathematical relations. We assume that such relations can be used to assess the financial tools, which are at the disposal of regional public authorities. We have developed a methodology for quantitative evaluation of the economic performance of the financial instruments, which are at the disposal of regional public authorities and can impact the economic growth. The research is based on the comparative statistical analysis of the National Statistical Monitoring System concerning the economic development of Belgorod region. As a result, we have determined the acceptable potential for the increase of the Belgorod region’s budget guarantees assigned for the implementation of major investment projects. We have obtained the dependency of the tax revenues of regional budgets on the fixed assets productivity (the fixed capital or property used to generate income). Our technique allows to evaluate the amount of fiscal revenues of the budget of a federal subject of the Russian Federation depending both on the financial guarantees assigned by the regional budgets and on the productivity of fixed assets (capital productivity). The research results show that up-to-date domestic practice in managing the economic growth in the federal subjects of Russia underestimates the financial guarantees performance. The financial guarantee instrument is prioritized for the major investment projects. These projects can ensure the yield from capital investments as many as four, which fosters the increase of the fiscal revenues of regional budgets up to 40 %. We have measured the economic performance of management decisions concerning the choice of financial instruments by regional public authorities. Moreover, the paper presents the projection of the results from each financial instrument application.

In work methods of an investment of financial resources in fixed capital of the domestic enterprise were investigated. Two directions of acquisition of the new equipment are considered: with use of the mechanism of leasing and with attraction of credit resources. By results of the carried-out calculations the conclusion is drawn that under equal financing terms leasing is most favorable as payments for the credit significantly exceed payments on leasing.

The 'Cement Armada' was a major Nigerian government scandal which culminated in hundreds of cement-laden ships arriving en masse at Lagos, creating severe multi-year-long port congestion during the height of the 1970s oil boom. In spite of the scale of the scandal, its causes and consequences have received little attention from scholars. This article presents new research which suggests the Armada was one of several contributing factors to the extraordinary inflation in the price of construction during period. It places the scandal in the context of debates about corruption, organisational failure and a 'resource curse' in Nigeria. [ABSTRACT FROM AUTHOR]

The optimal control problem of a single-sector economy under random variations of fixed capital and labor resources is solved in analytical form. As an optimality criterion the maximum mean value of savings on a given period of production is chosen. The solution of this optimal control problem is based on the method of dynamic programming. [ABSTRACT FROM AUTHOR]

Ukraine's agricultural sector accounts for 12% of the country's GDP and its output is continuously growing. For six consecutive years (2013-2018), Ukraine harvested over 60 million tons of grain annually, and 2018 export of ag commodities reached $18.6 billion. (State Fiscal Service, 2020). The anticipated land reform envisions lifting the moratorium on the agricultural land sale, which is expected to encourage capital investments in ag. The article analyzes the trends of investment opportunities in the Ukrainian ag sector for the last decade. The regression analysis confirmed that the function of labor productivity depended on the value of fixed capital per worker and yield of grain. The influence of productivity growth on the increase of price of land is evaluated. As the U.S. investment in ag machinery export to Ukraine plays a significant role, we evaluated the overall effect on the current level of labor productivity in the Ukrainian agribusiness, comparing it with the U.S. farming outcome. [ABSTRACT FROM AUTHOR]

Understanding the economic nature of capital investments is essential for building their accounting. The purpose of the article is to analyze the evolution of the concept of capital investment in the agro-industrial complex as the object of accounting in order to further deepen their economic essence. The author analyzes the economic essence of investments through the allocation of directions of investment theories: early mercantilism, late mercantilism, the economic theory of investments of mercantilism, the formation of the capitalist economy, the school of physiocrats, classical economic science, Marxist economic theory, institutionalism. It was found that attracting all types of investments takes place in order to obtain additional income from the use of capital. The main factors of production in agriculture were determined, on which the economic efficiency of production depends: land, capital, labor. The main types of investments in entrepreneurship were allocated: investments into real assets (physical); investment in monetary assets; investment in intangible assets. The regulatory legal approaches to the definition of the category "capital investments" were analyzed and it was established that they limit the definition of "investment", taking into account only fixed assets and long-term financial investments. It is in part contrary to the essence of investments from the point of view of economy and estimating their economic efficiency. It was grounded that "capital investments" and "capital investments" are identical, have the same essence, but in modern terminology it is worthwhile to use the definition of "capital investment", since the investment process takes place not only in the form of renewal of fixed assets. The use of the definition "capital investment" is possible only in the context of accounting, in terms of distribution of funds within the enterprise business (internally). [ABSTRACT FROM AUTHOR]

Researches of influence of infrastructure on the economic growth and development of the countries gained currency. However the majority of authors drop the problem of definition of accurate concept of studied object and its criteria out. In the given article various approaches in the definition of «infrastructure» concept, criterion and the characteristics of infrastructure distinguishing it from other capital assets are presented. Such types of infrastructure, as personal, institutional, material, production, social, etc. are considered. Author’s definition of infrastructure is given.

The article examines the nature of reproduction processes in rural municipalities (districts) in the region of Buryatia. It is supposed that the higher the level of socio-economic development of municipal districts, the higher the return from the resources used there. The study, based on the assessment of elasticity, has found that a high level of economic development of the municipality does not correlate with indicators of high return from the factors of production.

In work methods of an investment of financial resources in fixed capital of the domestic enterprise were investigated. Two directions of acquisition of the new equipment are considered: with use of the mechanism of leasing and with attraction of credit resources. By results of the carried-out calculations the conclusion is drawn that under equal financing terms leasing is most favorable as payments for the credit significantly exceed payments on leasing.

The article examines in detail the main areas and methodological features of a comprehensive analysis of movement and use of fixed capital of machine building enterprises. The fixed capital of enterprises is particularly important in the process of economic activity and it requires considerable investment for development and improvement. The purpose of this study is to develop a comprehensive approach to the quantitative assessment of change in the fixed assets of enterprises, their structure, and efficiency of use.

In the context of development of import substitution policy authors focus on capacity utilization rate as a target of the government regulation. The paper states statistical indicators national wealth of Russia with the emphasis on machinery and equipment. Authors stress the importance of the fact that after 2004 Rosstat ceased to publish data concerning average age of equipment. The dependency of low capacity utilization rate on high degree of wear and tear has been emphasized. The papers offers hypothesis that low capacity utilization rate contributes to current inflation via a lack of many key goods and resources. In turn, the high degree of wear and tear on the fixed assets, especially, machinery and equipment, is explained by means of fixed capital investment collapse in the 1990s. The paper pays special attention to the institutional causes of this collapse. Authors conclude that such high degree of wear and tear is the barrier to the success of the government regulation of capacity utilization rate in the medium-run and in the longrun. There is a critique of the methodology of the contemporary foresight researches in Russia. The problem is that such researches exclude machinery and equipment as an object of long-term forecasting from the state priority model titled “Development of Science, Technology and Industry”. The paper concludes that classification of machinery and equipment by depreciation groups in the Russian economy should make for largescale renewal together with import substitution support in the both industrial and regional aspects.

The proposed version of macroeconomic theory of capital reproduction is related to thethesis that the dynamics of the economy are caused by the change in generations of capital and there is a problem of coordination between these generations. This paper discusses the so-called “switchover mode of reproduction”. As shown by the mathematical model, a coordinated growth is possible when the social and economic interests are agreed between the labor and the capital, as well as under a monetary policy that stimulates such growth. An uncoordinated growth poses a threat of economic crisis.