The Role of Human Capital in SME’s Innovation Process in the Black Sea Economic Sectors

Global development trends and their impact on the Ukrainian economy and business in 2025

In recent years, the continuous and rapid development of technological innovations, and above all digital innovations, has been radically transforming established processes in global production of goods and services, as well as production and supply chains. This is leading to flexible yet unstable development at all levels of the global economy, changing the nature of relationships among economic actors at the micro-, macro-, and meso-levels, and affecting all spheres of citizens’ lives. In this context, global crises are becoming a permanent feature and require public administration and business management systems to promptly identify and control manifestations of such disruptions in the socioeconomic environment and to select scientifically sound and relevant tools to ensure governability toward the sustainable development of society. This article identifies and substantiates the hypothesis that timely identified and well-founded trends lay the foundation for rethinking the nature of ongoing processes and analyzing the strategic behavior of both economic entities and authorized government bodies. It is argued that the key factor influencing socio-economic processes today is the war in Ukraine, as its consequences affect various regions of the world, causing serious problems for the global economy, characterized by a slowdown in growth, rapid inflation, and recession. It has been established that artificial intelligence (AI) technologies will have a key impact; therefore, the effective use of AI should be aimed at remaining flexible, understanding market needs, and constantly adapting to technological progress. Furthermore, investments in artificial intelligence solutions will enable companies not only to optimize business operations and reduce costs but also to provide customers with the expected value and experience. A proposal has been substantiated regarding the need for broad involvement of the domestic scientific community, with mandatory collaboration with European partners within the framework of European integration programs, to analyze and forecast identified trends with the aim of making them systematic and scientifically sound. Key objectives of state economic policy have been developed and proposed as a response to the challenges posed by global development trends. Keywords: global trends, economic development, state economic policy, threats and challenges.

Philosophy and Governance

The Role of Innovation Ecosystems in Regional Economic Growth

It is observed that innovation ecosystems have become a vital source of local economic development enabling the cooperation between academia, industry, government, and society. The paper will assess the structural characteristics, operational processes and economic consequences of innovation ecosystems at regional levels. The paper is a synthesis of literature before 2018 to offer a complete picture of the impact of the innovation ecosystems on the productivity, employment, and competitiveness. The abstract expounds on the concept of knowledge spillovers, institutional structures, and how technological progress determines the economies of a given region. It also emphasises the role of policy interventions, infrastructure development, and enterprise culture to maintain the ecosystem dynamics. With the examination of various case-based and theoretical models, the proposed research is able to find several success factor dimensions, including the network density, access to resources, and efficiency of the governance. The results point out that areas that are highly organized in terms of innovation ecosystem are highly diversified in terms of industry and are more shock-resistant to economic shocks. Besides, the abstract talks about such measurements as the intensity of R&D, the amount of patents, and the frequency of startups. The article is multi-disciplinary in nature, representing the ideas of economics, management and the regional planning. Its outcome will assist in policy-making and planning of the regional development. The study also reveals weaknesses of current models, in which Flexible frameworks need to be implemented to meet the trends of digital transformation and globalization. In the end, the paper comes to a conclusion that innovation ecosystems are drivers of environmentally friendly economic development, as they facilitate the flow of knowledge and create value on an ongoing basis.

Economic Analysis and Evaluation of Corporate Enterprises in Ukraine

The article is devoted to the study of a complex economic analysis of the financial state and providing an assessment of the activity according to the main indicators of the functioning of corporate enterprises in Ukraine. It was determined that corporate legal entities play an important role in the national economy and have a significant impact on the development and prosperity of society. During the study, attention was focused on the enterprises of PrJSC "MetLife", LLC "Agrotechnika", LLC "ATB-Market", which are the main source of job creation, providing the opportunity to employ a large number of people, helping to reduce unemployment and raise the standard of living. Studies show that these enterprises generate large amounts of capital and invest it in various sectors of the economy, attracting capital to other enterprises and contributing to sustainable economic development. It stands to reason that companies often possess vast resources and technologies that help create innovative products and services capable of changing the market landscape. Thanks to economies of scale and efficient management, enterprises can optimize the use of resources, thereby reducing costs and increasing competitiveness. As a result of the conducted economic analysis of the financial activities of the investigated corporate enterprises, the effectiveness of their activities and the ability to maintain and improve financial indicators and opportunities for business expansion were confirmed. It has been proven that analytical methods help to assess the efficiency and sustainability of corporate enterprises in the conditions of the Ukrainian market environment, as well as to identify areas for further development and risk management. Economic analysis and evaluation of the activities of corporate enterprises in Ukraine are important tools for understanding their financial condition, competitiveness and potential.

DETERMINANTS OF THE GREEN ECONOMY AND THEIR CONTRIBUTION TO THE SUSTAINABLE DEVELOPMENT OF THE EURASIAN ECONOMIC UNION MEMBER STATES

The article identifies the key determinants of the green economy (institutional, technological, energy, economic, environmental) for the EAEU member states based on systematic analysis and econometric calculations. Data from 1990–2025 were used. Regression models, cluster analysis, radial diagrams, and thermal correlation maps have been constructed. It has been found that the Union states are at different stages of the green transition: Russia and Kazakhstan are characterized by high carbon intensity, Belarus has the best waste recycling rates, while Armenia and Kyrgyzstan stand out for their high share of renewable energy sources. The share of renewable energy and energy intensity in GDP accounts for 68% of the variation in CO2 emissions. It is proposed to harmonize the taxonomy of green projects and create a common market for carbon units.

Russian Businesses’ climate strategies in the Green Economy’s concept

The paper’s subject explores the mechanisms behind climate strategy implementation within the context of the rise and evolution of a green economy. The object is to examine mining and metals companies, a crucial economic sector responsible for most greenhouse gas and pollutant emissions. This study aims to look at the climate strategy implementation by Russian firms and pinpoint useful improvements for corporate climate management. This study is relevant because of the ongoing shift towards a green economy. This shift is driven by the acknowledgment of human- caused climate change and its economic effects, companies’ technological capacity for environmental sustainability, increasing public desire for eco-health, and stricter regulations across all organizational levels. Metals and metal companies are better at climate and environmental strategies than mining companies, leading to less environmental toxicity. Leaders in effective climate management, the distinctive nature of their strategic plans, and associated areas for potential expansion were discovered through an analysis of climate strategy implementation at five Russian metallurgical companies. Ultimately, the authors conclude that a company’s public standing affects its climate strategy creation, and they recommend that green business actions be recognized via government backing and the establishment of green loan programs. The study’s innovative scientific contribution is its authors’ method for evaluating climate strategy implementation and their advice for enhancing how companies handle climate matters.