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The need and role of state protectionism in the investment support for the sustainable development of the agro-industrial sectors: national and regional aspects

Author(s) Lagodiienko N., Candidate of Ekonomikal Sciences, ,
Turlenko N., Candidate of Ekonomikal Sciences, ,
Alekseychuk O., , ,
Category Economics
year 2019 issue Issue number 95. Part 2
pages 128-137 index UDK 339.168.6:338.47
DOI 10.31395/2415-8240-2019-95-2-128-137 (Link)
Abstract The article explores the issues of investment support for the sustainable development of agro-industrial sectors. Studies have shown that this is a global issue and its solution requires considerable efforts of all participants of inter-economic relations with constant protectionism of the state. Priority directions of protectionist policy of state regulation of investment activity in the fields of agriculture should include coordination of actions and control of the organization of food security, which is the basis of national security of the country, achievement under these conditions of the maximum possible social effect; creating a healthy competitive environment and becoming a civilized enterprise; implementation of progressive structural adjustment; ensuring a fundamental scientific and technological breakthrough; the combination of national and regional interests with those of entrepreneurs. In order to create a favorable investment climate in the agricultural sector, it is necessary to ensure a stable economic and political situation; development of a science-based market reform strategy; availability of appropriate legal framework. The theoretical and methodological basis of the study is the systematic approach and the dialectical method of cognition, which were used to identify the interconnections and interdependencies and to determine the theoretical and applied foundations of the investment policy of the agricultural sector. It is established that in order to create a favorable investment climate in the agricultural sector, it is necessary to ensure a stable economic and political situation; development of a science-based market reform strategy; availability of appropriate legal framework. Real priority should be given to the development of agriculture and agro-industrial production; effective functioning of the agricultural market infrastructure; overcoming inflationary processes and corruption and shadowing the economic sphere. Important steps in this direction will be to curb the growth of external public debt and to restructure payments for its servicing; establishing clear mechanisms for regulating international investment cooperation; strengthen regional policy activity; to create modern information and methodological support for investment activities. Studies have shown that the priorities of the protectionist policies of state regulation of investment activity in the agricultural sector should include coordination of actions and control of food security, which is the basis of national security of the country, achieving under these conditions the maximum possible social effect; creating a healthy competitive environment and becoming a civilized enterprise; implementation of progressive structural adjustment; ensuring a fundamental scientific and technological breakthrough; the combination of national and regional interests with those of entrepreneurs.
Key words investment, agro-industrial complex, protectionism, state support, regional dimension, national economy
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