After twenty five years of efforts, Ukraine seems to have encountered the same challenges that it had faced twenty five years ago: the challenges of integration and participation in the globalized world. Even though the country has made substantial progress, there is still much to be done. Judging from the couple of crises the country has suffered, one is inclined to say that participation of the country in the international financial markets is a point which matters much for Ukraine. The country did not manage to reap the advantage of capital mobility. Today, the country suffers again from a severe currency and banking crisis, where the national currency, hryvnya, devalues on a daily basis, and many people see their balances deteriorating. The policy-makers, the authorities and especially the National Bank of Ukraine (NBU) have used measures that did not work. The society is anxious and frustrated; it has even started to think about solutions like those on the hard side of the “Bipolar View” theory, such as the currency board, dollarization and even early adoption of the Euro. The paper argues that these solutions look very appealing because they seem work out on “freezing” the situation and, therefore, stopping the downward spiral. However, they do not fit well in the situation of Ukraine. In order to fully understand the situation, in the first part of the paper we describe the problem of choosing a proper exchange rate regime in the context of international financial markets, stating the notions of the “blessed” and “unblessed” trinities. In the second part, we examine the two often proposed solutions of the currency board and dollarization, stating their advantages and disadvantages. In the third part of the paper, we investigate the case of Ukraine and try to infer whether these two often recommended regimes fit or don’t fit, and for which reasons. In the fourth part, we present our proposal for the case of Ukraine and look at the problems with implementation of the first level of our proposal. In the fifth part, we conclude.

 

Key words:
Currency regime, emerging markets, financionalization, financial crises, financial globalization, floating, official dollarization, targeting.

Strategic imperatives of the corporate social responsibility (CSR), in the TNC-section, of the state and society in the context of globalization and of reaching for the norms and rules, oriented at activation of their partnership interaction are defined. Motivation of the companies in the sphere of socially responsible business under condition of geo-economic challenges is distinguished. Issues of CSR formation in Ukraine are substantiated. The efficiency of CSR-practice implementation in the world dimension (a positive correlation between earning assets and social activity, ROI, improve competitiveness of the companies, modification of the competitive relations in the international markets, increasing of a valuable component and reputation of a company, management diversification in the sphere of partnership) is derived. Issues in CSR-sector that demand a further research are outlined.

 

Key words:
Corporate social responsibility, TNC, geo-economic challenges, implementation, image, strategic imperatives.

In the paper origin and cause of the crises on the market of virtual goods – places where supply and demand are set for digital products, with intangible nature, especially video games – systematized chronologically and analyzed. It is proved that this segment despite strong prospects and dynamic development is able to generate a market phenomenon as "economic bubble" – trading large volumes of goods at prices that are significantly different from the true prices. Also the existing situation in the market of video goods, is analyzed, especially advertising and consumer behavior. Earlier data on the performance of gaming market is systemized and illustrated as well as thesis on the formation of new economic bubbles in the industry is highlighted.

 

Key words:
Financial bubbles, video game industry, virtual goods market segment, casual consumer, "cream skimming" strategy, mobile platforms market.

The concept of regionalization development in the Bulgarian Republic has been substantiated. The evolution of the regional development in the national economy has been revealed. The efficiency in the territorial administrative management has been analyzed. The practice of the territorial management in the market conditions has been demonstrated. Particular attention has been drawn to the analysis of the basic models of strategic planning and regulatory basis. Methods of transition from monocentrism to a moderate polycentrism with its perspective transformation into developed polycentrism have been outlined. Due to the principles of the regional European policy, the financial mechanism of Bulgarian regions, that is oriented toward decrease of the regional differentiations, has been examined. Thus, we can outline the following four strategic aims of the article: -to achieve a balanced and contrast regional development; -to overcome internal and regional asymmetry in the context of the European cohesion policy; - to gain a rational, steady and encompassing increase.

 

Key words:
Municipal government, municipal budget, axis of development, growth pole, region of planning, strategic planning, territorial planning.

The basic preconditions and the position of regional policy in the economics of Russia are shown. In accordance with the objectives of public administration regions, the main priorities of regional policy are allocated. It is emphasized that in the present conditions of socio-economic development of regions an important role is played by the strategic planning and management. Among the mechanisms for the implementation of regional development strategies the economic policy of the authorities in the region of the Russian Federation is highlighted; the regional budget; the mechanism of public-private partnerships; regional programs; system of federal target programs and other tools targeted funding from the federal budget. Among the mechanisms for the implementation of regional development strategies, the economic policy of the authorities in the region of the Russian Federation are allocated; the regional budget; the mechanism of public-private partnerships; regional programs; system of federal target programs and other tools targeted funding from the federal budget. Four stages of formation of the concept of Russia's regional policy are allocated, sequence and the contents of which are caused not so much by the logic of the process of regional development, but by a change in the logic of the social conditions of the country. Possible sources of financial support in the region are shown, among which critical importance belongs to resources of the budget. Currently, there are two important priorities of a long-term socio-economic development in Russia – the creation of an innovative economy and the development of human capital, including raising the quality of life of the population. One of the important ways of nation-achieving these objectives should be re-industrialization of the economy as a new economic development model that meets modern technological challenges.

 

Key words:
Regional development, state regional policy, strategic planning and management, restructuring, financial mechanism, fiscal policy, regional target programs, reindustrialization.