Financial and economic aspects of bioenergy development in the context of providing energy independence of Ukraine
-
Author(s)Mark MyronenkoLink to ORCID Index: https://orcid.org/0000-0001-7412-4362
,
Olena PolovaLink to ORCID Index: https://orcid.org/0000-0002-7120-7944
,
Anatolii Prylutskyi
,
Olga Smoglo
-
DOIhttp://dx.doi.org/10.21511/ppm.15(4-1).2017.08
-
Article InfoVolume 15 2017, Issue #4, pp. 243-253
- Cited by
- 879 Views
-
168 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The article deals with financial and economic meaning of bioenergy as an important component of the country’s energy security. The problem of transition to renewable energy sources, in particular biofuels, was investigated. The relevance of research is that biofuels can fully replace traditional energy resources, increase the level of economic efficiency of production and competitiveness of national economy, as well as reduce amount of harmful emissions into the environment. The purpose of research is to study and develop theoretical and practical principles of financial and economic development of bioenergy and its role in ensuring energy independence of Ukraine.
In the context of financial and economic crisis and political instability, the development of bioenergy industry is of priority in dealing with main social and economic problems. One of the main aspects of bioenergy development is states’ concern and use of targeted state funding. Moreover, other perspective ways to implement bioenergy technologies in Ukraine are public private partnership and attraction of foreign direct investments.
Economic assessment of different ways of full or partial replacement of natural gas has shown that they can be supplied with biomass, while the total capacity of introduced objects according to the bioenergy development program can save natural energy resources. According to the formula of the method of average medium, the forecast of optimistic and pessimistic scenario of energy potential development is developed.
Energy independence of Ukraine can be ensured through effective implementation of alternative energy with full state support, which will lead to acceleration of economic development of the territories, increasing level of life of people and environmental security of the country.
- Keywords
-
JEL Classification (Paper profile tab)L50, G18, Q43
-
References18
-
Tables1
-
Figures1
-
- Figure 1. Structure of energy resources supplying in EU and Ukraine in 2015, %
-
- Table 1. Energy potential of biomass prognosis in Ukraine for 2020–2030
-
- Association of Bioenergy Structures. Presentation of the updated Energy Strategy of Ukraine till 2025.
- Danchuk, I. (2015). Documentation of Best Practices in the Use of Bioenergy Technologies in the Municipal Sector in Ukraine.
- Smeets, E. (2008). General base line and principles. Report on WP4.1 of the EC FP7 Project “Biomass Energy Europe”. Copernicus Institute, Utrecht University, the Netherlands.
- Geletuha, G., & Zhelyezna, T. (2015). Development of bioenergy as a tool for replacing natural gas in Ukraine. Bioenerhetyka, 1, 1-20.
- Geletukha, G., Zhelezna, Т., Zhovmir, M. et al. (2010). Assessment of energy potential of biomass in Ukraine. Part 1. Agricultural waste and wood mass. Industrial heat engineering, 32(6), 58-65.
- Kaletnik, H. (2008). Development of biofuel market in Ukraine (p. 464). Sumy: Agricultural science.
- Khivrych, O. (2011) Energy plants as raw materials for biofuels. Proposition, 6, 68-73.
- Makarchuk, О. (2011). Bioenergy potential of agricultural production: economic dimension, use forecast (177 p.). Кyiv. Agrar Media Group.
- Martijn, V. (2010). Harmonization of biomass resource assessments. Volume I: Best practices and methods handbook. Report on WP5 of the EC FP7 Project “Biomass Energy Europe” BTG Biomass Technology Group B.V., the Netherlands.
- Matveeva, Y. (2008). Biomass: modern prospects for the most ancient fuels. Zelena enerhetyka, 2(30), 22-28.
- Messel-Veselyak, V., Pastetsky, V. (2011). Efficiency of alternative types of energy in agriculture of Ukraine. Ekonomika APK, 12, 3-9.
- Mykytenko, V. (2006). Energy efficiency of national economy: social-economic aspects. Bulletin of the National Academy of Sciences of Ukraine, 10, 17-26.
- Myronenko, M., Polova, O. (2016). Social-economic meaning of bioenergy and perspectives of innovation breakthrough. Investments: practice and experience, 7, 24-29.
- Polova, O. (2010). Bioenergy assessment of the use of animal wastes (248 p.). Zhytomyr. Ruta.
- Solovey, О., & Lega, Y. (2007). Alternative and renewable energy sources (p. 481). Sumy: CHDTU.
- The World Bank (2017). OECD-FAO Agricultural Outlook 2011–2020.
- World trends in the energy sector.
- Yermilov, S. (2006) Problems and ways to improve the state policy of Ukraine in the field of energy saving. Economy Ukraine, 9, 4-11.
-
Impact on poverty and income inequality in Malaysia’s economic growth
Rabiul Islam 
,
Ahmad Bashawir Abdul Ghani ,
Irwanshah Zainal Abidin ,
Jeya Malar Rayaiappan
doi: http://dx.doi.org/10.21511/ppm.15(1).2017.05
Problems and Perspectives in Management Volume 15, 2017 Issue #1 pp. 55-62 Views: 12038 Downloads: 5746 TO CITE АНОТАЦІЯPoverty and income inequality are extreme issues that still exist in Malaysia. Any rise in poverty and income inequality definitely affect economic growth. There are many great efforts taken by the government of Malaysia to eradicate poverty and to reduce the gap of income inequality which occurs since 1970’s. The incidence of poverty and income inequality is higher in rural areas compared to urban areas. This paper is mainly to study the level of poverty and income inequality in Malaysia together with government intervention to develop Malaysia’s economic growth. The research is focused among the working people at Ipoh, Perak. In this paper, questionnaire forms are being distributed to get information regarding the issue of poverty and income inequality. It also looks into the strategies taken by the government of Malaysia to eradicate poverty and income inequality. Few recommendations are given in terms of education policy, financial aid and assistance from government and non-government organization (NGO) to upgrade the standard and quality of living among the poor and lower-income group of people.
-
Impact of inflation on economic growth: evidence from Nigeria
Anthony Olugbenga Adaramola ,
Oluwabunmi Dada
doi: http://dx.doi.org/10.21511/imfi.17(2).2020.01
Investment Management and Financial Innovations Volume 17, 2020 Issue #2 pp. 1-13 Views: 9348 Downloads: 5625 TO CITE АНОТАЦІЯIn an attempt to examine the influence of inflation on the growth prospects of the Nigerian economy, the study employs the autoregressive distributed lag on the selected variables, i.e. real gross domestic product (GDP), inflation rate, interest rate, exchange rate, degree of economy`s openness, money supply, and government consumption expenditures for the period 1980–2018. The study findings indicate that inflation and real exchange rate exert a significant negative impact on economic growth, while interest rate and money supply indicate a positive and significant impact on economic growth. Other variables in the model depict no influence on the economic growth of Nigeria. The causality result shows the unidirectional relationships between interest rate, exchange rate, government consumption expenditures and gross domestic product. However, inflation and the degree of openness show no causal relationship with gross domestic product. As a result, the study recommends that a more pragmatic effort is needed by the monetary authorities to target the inflation vigorously to prevent its adverse effect by ensuring a tolerable rate that would stimulate the economic growth of Nigeria.
-
Formalization of the impact of imbalances in the movement of financial resources on economic growth of countries in Central and Eastern Europe
Serhiy Kozmenko ,
Maxim Korneyev
doi: http://dx.doi.org/10.21511/afc.01(1).2017.06
Accounting and Financial Control Volume 1, 2017 Issue #1 pp. 48-58 Views: 7973 Downloads: 1381 TO CITEThe article deals with the impact of financialization on economic growth in countries of Central and Eastern Europe. It determinesthe impact of imbalances in the movement of financial resources caused by financialization on economic growth of these countries. It proves that the implementation of measures aimed at increasing the openness of the economy and maintaining solvent demand have a positive impact on economic growth of the surveyed countries in the long run. It also proves the importance of developing a set of measures of strategic nature regulating imbalances in the movement of financial resources caused by financialization.
