REGULATING FINANCIAL MECHANISM OF AGRICULTURE SECTOR ON THE BASIS OF SOCIO-ECONOMY PRINCIPLES

Nataliia Pravdiuk, Olga Timchenko

Abstract


The purpose of the article is to identify the theoretical and practical aspects of the possibility and necessity of regulating the financial mechanism of the agro-sector in conjunction with the principles of social economy for the purposes of sustainable development. The methodological basis of the research is a set of general scientific methods of scientific knowledge. The subject of the study is the factors and indicators that play an important role in shaping the financial mechanism, as well as the analysis of a number of economic theories of social orientation and their motivation regarding the need to limit the "rational choice" of market agents. The essence of the category "financial mechanism" and the basic principles of the socioeconomics are analyzed. The financial condition and other indicators of development of agrarian enterprises of different organizational forms for the period of 2012-2017 are investigated and the general tendency of their production, expenses and revenues, investments, financial resources is provided. An attempt to systematize the causal links of the process of development of crisis events in the economy and their influence on the financial mechanism of the agrarian sector was made. It has been determined that there are sufficient grounds for revision of the basic economic theory, in which the financial mechanism should be largely subjected to state regulation of a predefined strategy of social orientation foremost for the needs of all the lower agents of the agrarian market and to provide for their share participation in access to resources and in management of rural development. On the basis of these studies, a clarified understanding of the social orientation of the financial mechanism of the agrarian sector as a necessary component and a means of state regulation of the effective use of the financial potential of the agriculture sector for sustainable rural development is proposed. It is expected that the proposals outlined in the article will contribute to the formation of strategies, improvement of financial management of the industry, enrich the economic theory as part of the justification of the need for linking a financial mechanism with social values.

Keywords


regulation; financial mechanism; social economy; agriculture sector; economic theories; sustainable development

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References


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DOI: https://doi.org/10.35774/ibo2019.01.130

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"Scientific Club "SOPHUS"
West Ukrainian National University
Higher Education Institution "Podillia State University"