Prospects for the Reorientation of Investment Flows for Sustainable Development under the Influence of the COVID-19 Pandemic

Olha Prokopenko

olha.prokopenko@taltech.ee
Department of Economics, Collegium Mazovia Innovative University, Sokołowska st., 161, Siedlce, 08-110, Poland; Teadmus ltd., Liivamäe st., 4-33, Tallinn, 10132, Estonia (Estonia)
https://orcid.org/0000-0003-1362-478X

Cholpon Toktosunova


Department of Finance and Financial Control named by S. Sulaymanbekov, Kyrgyz economic university named by M. Ryskulbekov, Togolok-Moldo st., 58, Bishkek, 720033, Kyrgyzstan (Kyrgyzstan)
https://orcid.org/0000-0001-6931-7880

Nurmira Sharsheeva


Department of Finance and Financial Control named by S. Sulaymanbekov, Kyrgyz economic university named by M. Ryskulbekov, Togolok-Moldo st., 58, Bishkek, 720033, Kyrgyzstan (Kyrgyzstan)
https://orcid.org/0000-0001-5737-2145

Rita Zablotska


Department of World Economy and International Economic Relations, Institute of International Relations of Taras Shevchenko National University of Kyiv, Yuriy Ilyenko st., 36/1, Kyiv, 04119, Ukraine (Ukraine)
https://orcid.org/0000-0001-7174-8946

Valerii Mazurenko


Department of World Economy and International Economic Relations, Institute of International Relations of Taras Shevchenko National University of Kyiv, Yuriy Ilyenko st., 36/1, Kyiv, 04119, Ukraine (Ukraine)
https://orcid.org/0000-0002-7167-215X

Lina Halaz


Department of Management of Organizations, Lviv Polytechnic National University, Stepana Bandera st., 12, Lviv, 79013, Ukraine (Ukraine)
https://orcid.org/0000-0002-1672-7402

Abstract

The article is devoted to substantiating the expediency of reorienting international investment flows, under the influence of the COVID-19 pandemic, from traditional directions to projects related to social transformation. It is proved that such transformations should be expressed first of all in qualitative changes in education, medicine and employment. Particular attention is paid to the modernization of the paradigm of sustainable development, the components of which should be ranked from social to environmental. The necessity of interpretation of investment strategies implemented in the countries following their common problems is substantiated. Also, attention is paid to the substantiation of the cyclical component, its role in the redistribution of investment flows at the state level. The article proposed cluster investment to solve this problem.


Keywords:

investments, international investments, international investment projects, sustainable development, clustering, cluster investing, economic cycles

BASHYNSKA I., BALDZHY M., IVANCHENKOVA L., SKLIAR L., NIKOLIUK O., TKACHUK G., 2019, Game risk management methods for investment portfolio optimization, International Journal of Recent Technology and Engineering, 8(2): 3940-3943.
DOI: https://doi.org/10.35940/ijrte.B1729.078219   Google Scholar

Capital investments by types of economic activity for 2010-2019, State Statistics Service of Ukraine, h ttp://www.ukrstat.gov.ua/operativ/operativ2013/ibd/ibd_rik/xls/ki_rik_u_e_bez.xls (05.05.2020).
  Google Scholar

CHEN S.-S., HO K.W., LEE C.-F., YEO G.H.H., 2000, Investment opportunities, free cash flow and market reaction to international joint ventures, Journal of Banking and Finance, 24(11): 1747-1765.
DOI: https://doi.org/10.1016/S0378-4266(99)00103-X   Google Scholar

CHORTOK Y., YEVDOKYMOVA A., SERPENINOVA Y., 2018, Formation of the mechanism of corporate social and environmental responsibility of the trading company, Journal of Environmental Management and Tourism, 9(5): 1011-1018.
DOI: https://doi.org/10.14505//jemt.9.5(29).13   Google Scholar

Construction Product Indices, State Statistics Service of Ukraine, http://www.ukrstat.gov.ua/ (05.05.2020).
  Google Scholar

Countries and Economies, Official portal of the World Bank, https://data.worldbank.org/country (05.05.2020).
  Google Scholar

DIZDAROGLU, DIDEM., 2019, Measuring residential sustainability performance: an indexing approach, International Journal of Sustainable Development, 22 (1): 1-23.
DOI: https://doi.org/10.1504/IJSD.2019.104717   Google Scholar

DZWIGOL H., DZWIGOL-BAROSZ M., 2020, Sustainable Development of the Company on the Basis of Expert Assessment of the Investment Strategy, Academy of Strategic Management Journal, 19(5): 1-7.
  Google Scholar

FILIPOVA M., & YULEVA-CHUCHULAYNA R., 2020, Innovation projects as a factor for strategic development of small and medium-sized enterprises, Revista Inclusiones, 7(3): 461-476, http://www.revistainclusiones.com/gallery/38%20VOL%207%20NUM%20ESPECIALJULIOSEPTIEMBREEE2020REVINCLUSIOO.pdf.
  Google Scholar

Fixed capital investment (1995-2011), State Statistics Service of Ukraine, http://www.ukrstat.gov.ua/ (05.05.2020).
  Google Scholar

HALKIV L., KARYY O., KULYNIAK I., OHINOK S., 2020, Modeling and forecasting of innovative, scientific and technical activity indicators under unstable economic situation in the country: Case of Ukraine, Communications in Computer and Information Science, 1158: 79–97.
DOI: https://doi.org/10.1007/978-3-030-61656-4_5   Google Scholar

KHARAZISHVILI Y., KWILINSKI A., GRISHNOVA O., DZWIGOL H., 2020, Social Safety of Society for Developing Countries to Meet Sustainable Development Standards: Indicators, Level, Strategic Benchmarks (with Calculations Based on the Case Study of Ukraine), Sustainability, 12(21): 8953. https://doi.org/10.3390/su12218953.
DOI: https://doi.org/10.3390/su12218953   Google Scholar

KOSTETSKA K., KHUMAROVA N., UMANSKA Y., SHMYGOL N., KOVAL V., 2020, Institutional Qualities of Inclusive Environmental Management in Sustainable Economic Development, Management Systems in Production Engineering, 28(1): 15-22.
DOI: https://doi.org/10.2478/mspe-2020-0003   Google Scholar

KOTENKO O.O., DOMASHENKO M.D., KOTENKO YU.L., 2018, Energy efficient technologies and their place in the national anti-crisis strategy of reducing production costs at the enterprise, Scientific Bulletin of Odessa National Economic University, 6(258-259): 90-112.
  Google Scholar

KWILINSKI A., DIELINI M., MAZURYK O., FILIPPOV V., KITSELIUK V., 2020, System Constructs for the Investment Security of a Country, Journal of Security and Sustainability Issues, 10(1): 345-358. https://doi.org/10.9770/jssi.2020.10.1(25).
DOI: https://doi.org/10.9770/jssi.2020.10.1(25)   Google Scholar

MISKIEWICZ R., 2020, Efficiency of Electricity Production Technology from Post-Process Gas Heat: Ecological, Economic and Social Benefits, Energies, 13(22): 6106. https://doi.org/10.3390/en13226106.
DOI: https://doi.org/10.3390/en13226106   Google Scholar

Notre Dame receives $1 billion in donations as French president vows to rebuild in 5 years, Global News, 2019, https://globalnews.ca/news/5175990/notre-dame-cathedral-money-raised-rebuild/ (05.05.2020).
  Google Scholar

PROKOPENKO O., MIŚKIEWICZ R., 2020, Perception of ‘Green Shipping’ in the contemporary Prokopenko et al./Problemy Ekorozwoju/Problems of Sustainable Development 2/2021, 7-17 17 conditions, Entrepreneurship and Sustainability, 8(2): 269-284. https://doi.org/10.9770/jesi.2020.8.2(16).
DOI: https://doi.org/10.9770/jesi.2020.8.2(16)   Google Scholar

PROKOPENKO, O.V., 2011, Consumer choice types in marketing of ecological innovations, Actual Problems of Economics, 16(2): 109-116.
  Google Scholar

ROY S., KEMME D.M., 2020, The run-up to the global financial crisis: A longer historical view of financial liberalization, capital inflows, and asset bubbles, International Review of Financial Analysis, 69. https://doi.org/10.1016/j.irfa.2019.101377.
DOI: https://doi.org/10.1016/j.irfa.2019.101377   Google Scholar

STRILETS V., PROKOPENKO O., ORLOV V., 2020, Impact of Covid19 on the budget security of the national economy: a forecast for Ukraine, Public and Municipal Finance, 9(1): 25-33. https://doi.org/10.21511/pmf.09(1).2020.03.
DOI: https://doi.org/10.21511/pmf.09(1).2020.03   Google Scholar

System for monitoring the spread of the coronavirus epidemic, https://covid19.rnbo.gov.ua (05.05.2020).
  Google Scholar

Value of venture capital investment in the United States from 1995 to 2019. Statista, https://www.statista.com/statistics/277501/venture-capital-amountinvested-in-the-united-states-since-1995 (05.05.2020).
  Google Scholar

ZIJIANG Y. XIONG HE., 2020, Sustainable urban space expansion in Central Yunnan (China): regional urban integration, International Journal of Sustainable Development and Planning, 15(1): 95-106.
DOI: https://doi.org/10.2495/SDP-V15-N1-95-106   Google Scholar

Download


Published
2021-07-01

Cited by

Prokopenko, O., Toktosunova, C., Sharsheeva, N., Zablotska, R., Mazurenko, V., & Halaz, L. (2021). Prospects for the Reorientation of Investment Flows for Sustainable Development under the Influence of the COVID-19 Pandemic. Problemy Ekorozwoju, 16(2), 7–17. https://doi.org/10.35784/pe.2021.2.01

Authors

Olha Prokopenko 
olha.prokopenko@taltech.ee
Department of Economics, Collegium Mazovia Innovative University, Sokołowska st., 161, Siedlce, 08-110, Poland; Teadmus ltd., Liivamäe st., 4-33, Tallinn, 10132, Estonia Estonia
https://orcid.org/0000-0003-1362-478X

Authors

Cholpon Toktosunova 

Department of Finance and Financial Control named by S. Sulaymanbekov, Kyrgyz economic university named by M. Ryskulbekov, Togolok-Moldo st., 58, Bishkek, 720033, Kyrgyzstan Kyrgyzstan
https://orcid.org/0000-0001-6931-7880

Authors

Nurmira Sharsheeva 

Department of Finance and Financial Control named by S. Sulaymanbekov, Kyrgyz economic university named by M. Ryskulbekov, Togolok-Moldo st., 58, Bishkek, 720033, Kyrgyzstan Kyrgyzstan
https://orcid.org/0000-0001-5737-2145

Authors

Rita Zablotska 

Department of World Economy and International Economic Relations, Institute of International Relations of Taras Shevchenko National University of Kyiv, Yuriy Ilyenko st., 36/1, Kyiv, 04119, Ukraine Ukraine
https://orcid.org/0000-0001-7174-8946

Authors

Valerii Mazurenko 

Department of World Economy and International Economic Relations, Institute of International Relations of Taras Shevchenko National University of Kyiv, Yuriy Ilyenko st., 36/1, Kyiv, 04119, Ukraine Ukraine
https://orcid.org/0000-0002-7167-215X

Authors

Lina Halaz 

Department of Management of Organizations, Lviv Polytechnic National University, Stepana Bandera st., 12, Lviv, 79013, Ukraine Ukraine
https://orcid.org/0000-0002-1672-7402

Statistics

Abstract views: 149
PDF downloads: 58