Risk mangement regional development in the context of global integration

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Risk management regional development in the context of global integration

Socio-economic development of Ukraine in today's geopolitical situation largely depends on the establishment of effective international cooperation at the regional level, as the economic strategy of the state at this stage involves increasing their investment potential, the development of international economic activity, spreading to promote international economic cooperation by improving the competitiveness of enterprises international markets.

The current stage of development of Ukraine as a sovereign economically developed democratic state needs to reform the system of public administration, which in its present state does not meet the needs of society, internal and external priorities of the state. The main problem of governance in the country are limited opportunities for economic and human development, lack of competitiveness, low levels of citizen satisfaction the activities of government, particularly the executive branch, etc. Particularly important task is the modernization of the country's system for ensuring sustainable balanced development of regions.

Urgency of the problem stems from the fact that in practice, regional management is often arise situations manifestation of economic, political, social, environmental and other risk factors that often lead to some irregularities in the functioning of the business and social structures. This requires research and theoretical substantiation of principles and institutional mechanisms of risk management at the regional level.

The importance of this issue becomes even more critical in the context of determining the vector of Ukraine's integration into the international socio - economic context, including resolving dilemmas of European integration - the Eurasian Customs Union, which requires a balanced assessment of the risks of each alternative.

Among researchers and theorists who have made a significant contribution to the theory of risk, there are scholars such as A.P. Alhin, P. Bernstein, J. Van Horn, O. Morgenstern, F. Knight, J. Neumann, J. Galbraith, D. North, B.A. Rayzberg, R. Kenneth.

Significant role in the study of the risks of regional development work of local scientists play: Byla S. A, Borschevsky V.V., Vasyltsiva T.G., Jook V.I., Kushnir N.A., Mikula N.A., Mokiy A.I., Shevchenko O.V. and others. Noteworthy are the work of Russian scientists: Vyatkina V.N., Gaponenko A.L., Granaturov V.N., Lvov D.S., Majewski V.I., Chalov V.I., Chetyrkin E.M. and others.

Appreciating the contribution of scientists in the development of the theory and practice of risk management, it should be noted that the issue of risk management for regional development in the global integration process requires a thorough and systematic study. In particular this applies to the content and the specific risks of regional development, the factors that cause such risks, the principles and methods of risk management practices in regional development.

The purpose of the article - to reveal the contents and specific risks of regional development, to justify the ways of improving the risk management system of regional development.

Risk as a scientific category, depending on the direction of applied research on all areas of society and therefore has a clear and generally accepted interpretation [6]. There is almost a thousand definitions of the concepts that are associated with awareness of possible danger, uncertainty, insecurity, loss and so on. In the modern Ukrainian language the term «risk» is interpreted as the perceived possibility of danger, as well as the possibility of loss, or failure in some cases [1].

It should be noted that risk is an essential element of the development of society and almost impossible to get rid of risk [2, p. 271-233].

Socio-economic development of the region in any country is largely dependent on a large number of political, economic, scientific, technical, environmental and other international factors. In Ukraine, the nature of risk management region growing high economic uncertainty, unpredictability of social processes and political events.

Given the international practice are the following types of risks for regional development. The risk of isolation and separation region (regions) of the country, which may result in social changes, humanitarian disasters and even the collapse of the country. The risk of deepening differentiation of socio-economic development of regions within a country, causing local resources reallocated in favour of regional leaders. However, there are depressed regions, socio-economic status subsequently deteriorated. Risk localization of regional development leads to economic stagnation and technical regional monopolies, minimize inter-regional co-operation, exhausting available locally limited internal resources and ultimately leads to economic backwardness of the region. Risk of urbanization (metropolitan area) is associated with the growth of cities and turning them into mega-cities, accompanied by the emergence of socio-economic, transport, environmental and other problems. Risk of urbanization has a tight relationship with the risk of migration from depressed regions to economically active both within the country and on an international scale [5].

Exploring the nature of the risks should consider their historical origins, economic, geopolitical, geographical, ethnic and other demographic factors have synergistic nature. Thus, the risk of regional development with historic (geopolitical) origins largely depend on the historical period during which the region was a country: that is the longer the term, the lower the risk centrifugal tendencies of regional development separatism. Risks geographical location of the region tightly linked to other risks: transport and logistics accessibility of regions, possible participation in regional cross-border cooperation, participation in transportation and transit solutions (regional corridors) and others. Risks ethnic origin due to demographic quantitative ratio of ethnic groups in the country and the region. These risks under certain circumstances can lead to ethnic conflicts in the extreme - the political separation region of the country. Environmental risks have both natural and anthropogenic origin. These risks may constrain the socio-economic development of the region, reduce quality of life, adversely affect the investment image of the region.

In Ukraine the above risks significantly enhanced type of extensive regional economy, obsolete technology, primary production and export of raw materials, which in combination with exogenous risk leads to further imbalance of socio-economic development, in particular, the reduction of inter-regional economic ties, regional monopolization of domestic markets, the concentration of resources in the industrialized regions, worsening social problems in the peripheral areas of the country.

The modern problems of socio-economic development of the country include the following: the presence of predominantly extensive type of management at the regional level, a high level of energy dependence of local production and lack of innovation and structural changes to reduce material consumption, energy products produced locally, it is cheaper and competitiveness, maintaining high levels of monopolization of regional markets, preserving the orientation of industrial production industrial and old industrial regions (traditional leaders in economic development) to increase exports of energy-intensive and environmentally risky production (metallurgical, chemical, woodworking, etc.), subsidized inefficiency and subventsiynyh mechanisms to overcome social and economic backwardness area; greater dependence of regional economies exporting to global fluctuations for raw materials and semifinished product groups, reducing the potential capacity of the domestic regional markets, lack of inter-regional cooperation relations [5].

Risk management can be described as a set of methods and techniques that can predict the risk of occurrence of cases and take steps to avoid or reduce the negative consequences of occurrence of these cases [3]. The ultimate goal of risk management is responsible objective function, which is to obtain the greatest profit or social benefit at an optimal return and risk.

There are several main stages of risk management: analysis and object identification of risk, risk assessment, determine the amount of potential losses upon the occurrence of risk events, the choice of strategies and methods to influence the risk; direct impact on risk, control and adjustment of the results management process. Risk assessment provides a set of actions to evaluate, analyze and identify the mechanisms of phenomena that exhibit a strong influence on the region, in order to prevent rejection, threats, losses, etc., or against their occurrence. The risk level is determined through quantitative and qualitative analysis.

In international practice, to assess the regional risk countries use indicators: debt service ratio, calculated as the ratio of funds spent each year of the Borrower to service debt and gross revenues from exports, the ratio of reserve position in the International Monetary Fund to the volume of imports, the ratio of international reserves (gold currency) to the volume of imports, the ratio of exports to gross national product, rate of inflation.

One of the known methods of rating assessment of regional risk is the method of determining the credit rating Ambest which is based on a comprehensive quantitative and qualitative evaluation of companies in the country (region), their operating and business profile. A key factor is the index of political instability the country.

According to the rating methodology and analysis center Ambest all countries can be divided into 5 groups according to the index of country risk SRT (table).

In the first group with index SRT1 are the most developed countries. As the growth of political and economic instability index number increases. Ukraine in terms of SRT belongs to the Systematics of the index «country risk» (CRT) fifth group, which includes the countries with the highest index SRT, indicating increased risks of entities.

List of references

risk regional economic management

1. Великий тлумачний словник сучасної українсь¬кої мови (з дод. і допов. та CD) / [уклад. і голов. ред. В.Т. Бусел]. - К.: Ірпінь: ВТФ «Перун», 2007. - 1736 с.

2. Лощинин М. Персональный и коллективный социально-экономические риски в принципиа¬льно неоднородном социуме / М. Лощинин // Соціальні ризики. Т. 2. - К.: ПЦ «Фоліант», 2004. - С. 271-333.

3. Лук'янова В.В. Економічний ризик: навч. посіб. / В.В. Лук'янова, Т.В. Головач. - К.: Академвидав, 2007. - 464 с.

4. Офіційний WEB-сайт A.M. Best Company [Електронний ресурс]. - Режим доступу: http:// www.ambest.com/.

5. Регіони України у післякризовий період: ризики та перспективи розвитку: аналіт. доп. / C. О. Біла, О.В. Шевченко, В. І. Жук, М.О. Кушнір [та ін.]; за ред. С.О. Білої. - К.: НІСД, 2011. - 104 с.

6. Саєнко, Ю.І. Соціальні ризики та шанси / Ю. І. Саєнко. // Соціальні ризики. - Т. 2. - К.: ПЦ «Фоліант», 2004. - С. 12-51.

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