Статьи

BALANCED DEVELOPMENT: INNOVATIONS AND ENSURING THE EFFECTIVENESS OF THE ECONOMIC MECHANISM

Nataliia Kovshun
National University of Water and Environmental Engineering
iD https://orcid.org/0000-0003-0573-2932
Vladyslav Solodkyy
National University of Water and Environmental Engineering
iD https://orcid.org/0000-0001-8469-8116
Ключові слова
balanced development energy efficiency innovation strategies diversification macroeconomic challenges investment clustering inclusiveness energy security resource intensity

Abstract

This article examines the mechanisms for implementing the imperatives of balanced development as a strategic prerequisite for overcoming contemporary macroeconomic challenges and ensuring long-term economic efficiency amid the constant and divergent influences of a wide range of current economic and other factors. Based on a systematic analysis of the state of the national economy, critical structural barriers have been identified that, under current conditions, determine the level of sustainable development: the high energy intensity of gross domestic product, insufficient investment in environmental initiatives, and the inefficiency of existing waste management systems. The study substantiates the inevitability of the transition of domestic production to innovative strategies based on the conceptual foundations of the circular economy, smart regional specialization, and spatial sectoral clustering. It has been demonstrated that a significant reduction in the energy intensity of the industrial sector and the modernization of the housing and utilities sector are key factors in improving the overall efficiency of the national economy, as well as its competitiveness in foreign markets. Particular attention is paid to mechanisms for promoting resource efficiency and the development of renewable energy sources as the fundamental basis of national energy security. Comprehensive approaches to improving financial instruments and the regulatory framework are proposed, including the issuance of targeted «green» bonds and the intensification of international cooperation, which together will ensure the long-term socioeconomic sustainability of the economic mechanism. The importance of taking into account and further improving the social aspects of ensuring the development of the economic system in the context of sustainability is highlighted, as is the need to adhere to a comprehensive approach when developing effective models of balanced socioeconomic progress.

Author Biographies

Nataliia Kovshun, National University of Water and Environmental Engineering
Doctor of Economics, Professor
Vladyslav Solodkyy, National University of Water and Environmental Engineering
Candidate of Economics (Ph.D.), Associate Professor