Based on panoramic view of the EMU fiscal fragmentation, it is shown that the divergence of the euro area could not be caused by inadequate principles of the Monetary Union. Prior to common currency transition the problem of fiscal fragmentation was disguised in a more stable global environment and confidence for the future policy of the ECB. The debt crisis in the EMU brought the problem of fragmentation out of the latent state, showing a clear division between the countries that have kept on competitiveness and whose economic growth has positive expectations, and the rest ones, which are characterized by the fact that their financial imbalances have been combined with the loss of competitiveness. Speculation against structural inflexibility tightened fiscal fragmentation. Fiscal rather than monetary reasons for the EMU divergence lie in a combination of incentives to reduce distortion of national debt reduction in the environment of global liquidity expansion and the institutional weakness of fiscal rules model of Stability and Growth Pact. Fiscal fragmentation has the signs of saving for a long time, threatening to enhance sensitivity of the EMU macro-financial stability to the economy policies of individual countries. Fiscal fragmentation of the euro area is incompatible with the prospects of common currency as a reserve one.

Key words:
Euro-zone, national debt, debt crisis, fiscal fragmentation, fiscal rules.

The purpose of this research is to develop methodologies for the study of globalization of business in general and its separate aspects related to strategic marketing decisions on foreign markets and information and communication globalization of domestic business. Subject of research are theoretical foundations, methodological and applied issues of system development activities of the marketing mix as a tool for the revitalization of Ukrainian enterprises in international business. The object of research is the process of formation and development of marketing activities and business entities on the global commodity markets.

Key words:
International marketing, global markets, macroeconomic processes, mar-keting management, sales, marketing research at the micro level, enterprises, economic development strategy.

The article determines major trends in the development of tourism in the modern global economy and its significance for the economies of individual countries. The author considers major approaches to defining terrorism in terms of political risk, as well as its types, sources and effects. The author analyses interrelationship between terrorism and tourism and discusses ways to prevent and mitigate its negative effects.

Key words:
Tourism, international tourism, tourist, terrorism, act of terrorism.

Producers are basic subjects of the world commodity market which carry significant part of world economy added value. All industrial companies are working in hard competitive conditions. The modern feature of any company activity is global processes` influence: competition from global companies’ side (transnational corporations), global preferences of consumers, necessity in production of standardization and high qualitative commodities, necessity in development of single global or regional marketing strategy and marketing mix. The modern state of industrial companies ‘marketing management has been considered at the article, problems of marketing management dedicated to globalization and strong competition have been determined. Modern features of the globalization and its influence at marketing management of industrial businesses have been studied at the article.

Key words:
Management, marketing, globalization, transnational corporations, indus-trial companies.

The article analyses the opportunities of budget decentralization in the light of forming and functioning of local self-government system. The author exposes factors, determining a correlation of centralization and decentralization. A great attention is paid to the principles of expenditures responsibilities demarcation, to the problem of taxes` revenues fixing and to variants of regulation of vertical and horizontal inequalities in state budget system. The article exposes the role of local self-government as basis of federal state system. As a result, the author proposes a revenues structure on local and regional level with variant of local taxation system.

Key words:
Federalism, budget decentralization, vertical and horizontal inequalities, budget revenues and expenditures, local self-government, local budget, inter-governmental fiscal relations.

A model of fundraising activity in Ukraine is formed. The role of fundraising as a tool for mobilizing financial and other resources from various sources to implement socially relevant research and non-profit projects is revealed. The prospects and challenges of fundraising in Ukraine are considered and analyzed. The algorithm for calculating the integral performance index for fundraising activities in the framework of the strategy is proposed.

Key words:
Fundraising, donor project, a non-profit organization, charities, non-governmental organization, strategy, fundraising activities.

This article studies the trend of investment resources formation for the modernization of Ukraine’s economy through budgeting, which is created in the corporate sector, in banking system, in pension funds, households, in the stock market, and is invested by foreign investors. The tendencies that indicate a nar-rowing of investment sources that can be raised in the corporate sector and in the stock market are identified. In the part of the private (collective) investment the potential for its significant increase and subsequent targeting through the in-stitutions of collective investment into modernization projects was shown. It was proposed to develop at the national level the effective mechanisms to stimulate the investment processes in the corporate sector, as well as to create an exten-sive institutional network for innovative projects selection as the facilities of public importance to be invested.

Key words:
State, society modernization, economic modernization, institutional chang-es, consolidation of financial resources, investment, innovation.

The article substantiates the thesis that corporate social responsibility (CSR) is a concept which combines and complements various aspects instrumental to mutual development of business and society. The CSR ideology manifests itself in shaping a new conception of «value», participation of business in social programs, including continuous cooperation with governments and non-government organizations, as well as such new strategic directions as responsible investing. The authors consider two approaches to business morality and organizational decision-making (an end in itself vs. utility). The studied changes in the nature of capitalism in the late 20th century, which occurred under the influence of globalization processes, make it necessary to reassess its nature from the standpoint of the so-called «tectonic economics». The authors offer substantiation for the idea that the problems of ethics and morality in organizational behavior will actualize in response to development of the theory and practice of economics and management. The study shows that management of political and business organizations bears triple responsibility towards the society: management (administrative), social, and moral responsibility.

Key words:
Corporate social responsibility, ethics, globalization, morality, moral re-sponsibility of management, tectonic economics.

The paper is dedicated to the task of generalization of the theory and international experience of public-private partnerships in the field of science and education (further- PPPSE), which is lacking in domestic scientific periodicals, in order to create preconditions for its vitalization in Ukraine. The PPPSE’s leading role is determined as a mechanism for the convergence of interests of the state, scientific and educational institutions, and enterprises that comply with the concept of triple helix. For this purpose author identified the main directions, forms, conditions, factors, types, risks, models of PPPSE and the arguments arising from international experience, in which special attention is paid to the EU countries. The PPPSE should be regarded as one of the mechanisms for mobilization and sustainable financing of national scientific and educational potential devel-opment due to its commercialization within innovation systems and creation of competitive advantages for global and local leadership of businesses and economy. The PPPSE is identified as a basis for the development of cities in the global knowledge economy. The experience and peculiarities of the EU have shown the existence of significant national differences between the levels of activity in PPPSE. The main instrument of convergence of the EU in the PPPSE field is defining uniform requirements for public procurement. Opening the PPPSE Ukraine should rely on the results of the study of worldwide international experience.

Key words:
University, international experience, intellectual resource, public-private partnerships, scientific and educational space, international competitiveness.

This article presents a theoretical explanation of the functional determina-tion of the tandem «human development – sustainable development», as well as the authors’ overview of theoretical and conceptual principles of sustainable hu-man development as a new social paradigm. This work proves that a state is re-sponsible for maintaining sustainable human development. Special attention is paid to the state’s financial potential as a foundation, which enables the functioning of highly developed national economy with a»human face».This article proposes an extended interpretation of the definition of «sustainable human development» taking into account the financial achievements of science.

Key words:
Sustainable human development, human development, sustainable devel-opment, financial science, financial potential of the state.

The article examines the consequences for the EU countries of the eco-nomic sanctions which are used by them against Russia as the reaction on its aggressive acts in Crimea and Donbass as well as of counter-sanctions («self-sanctions»), which Russia has pronounced against such countries. There are made some forecast on the base of this analyses as for possible impact of these consequences on the sanctioned states regarding further use of the announced economic restrictions in relations with Russia.

Key words:
European Union, Russia, sanctions.

The investigation of theoretical bases of taxation of wealth and its pro-spects in Ukraine is made. The modern concept of wealth as an object of taxa-tion is highlighted. The prospects of wealth tax introduction in Ukraine are re-viewed. It is determined preconditions for effective introduction of wealth tax in Ukraine. Suggestions from its administration are grounded. The problems of its effectiveness are revealed, and recommendations for their solution are proposed.

Key words:
Wealth, cost, property, possessions, property taxes, wealth tax, wealth tax, value.

The article is an overview of advanced scientific researches, dedicated to estimation financial stress index. It describes theoretical nature and practical ap-plications of the indicator as a tool for monitoring the crisis on the financial mar-kets. Based on the previous findings and taking into account specific demands of national finances, was offered own concept of estimation Ukrainian financial stress index. Authors demonstrate analytical capabilities of this index to analyze fiscal policy. Also was provided number of theoretical conclusions about regimes of fiscal policy and corresponding levels of financial security. According to the survey, fiscal policy behavior is the same on the extreme points of the interval of financial stress and makes diametric changes in main parameters, when reaches an average level.

Key words:
Financial stress index, financial crisis, episode of financial stress, fiscal policy, fiscal policy regime switches, non-linear fiscal reaction functions.

This article presents detailed calculations related to the analysis of effi-ciency renovation in Germany and Latvia. The calculated parameters made it possible to analyze the feasibility of a renovation, the results to which it resulted. Also in the article are used in modern building methods renovation.

Key words:
Investment, economic efficiency, renovation, modernization, income.

India is analyzed according to the position and perspective of environmental Kuznets curve. Theoretical and practical aspects of CO2 emissions in India are developed.

Key words:
Global CO2 emissions, environmental Kuznets curve, India, climate change.

This article investigates the problem of the energy efficiency within the context of the global economic, environmental and social challenges of the XXIst. The criteria of functioning of the modern energy market is defined, where the energy efficiency is ranged as its fundamental basis. The global trends in the implementation of the energy-saving technologies and the economic factors of the energy efficiency are considered. The energy consumption in the various sectors of Ukrainian economy is analyzed on the international comparative basis. The strategic priorities of the national policy of energy efficiency are outlined, the energy saving potential due to the introduction of the targeted technical and structural measures is assessed. The consolidated examples of the energy policies of the other countries, focused on the development of alternative energy sources are presented for their selective use in the domestic practice.

Key words:
World energy market, hydrocarbon-based economy, alternative energy, energy consumption, energy saving, national energy policy, energy efficiency.

The consequences of the implementation of the Association Agreement between Ukraine and the EU were outlined. The main of them were the participation of Ukraine in the FTA+ as a unique model of intensive access to European markets, the prospect of attracting foreign investment into the Ukrainian economy, achieving positive effects of reforms. The basic parameters of the Agreement as the potential for cooperation in trade, comprehensive regulation of the international movement of production factors, mutual solution of economic, social and environmental interests of the EU and Ukraine were determined. FTA+ risks for certain sectors of domestic economy were analyzed and ways to minimize them, priority allocation of state efforts to strengthen the competitive position of the main types of goods and services were outlined.

Key words:
The Agreement, FTA, import duties, association, trade regime, tariff barriers, cooperation, competitive position, macroeconomic effects.