Hypothesis of a two-level investment system and the prospects for the planned development of the socialist market economy

User Rating:  / 0


V.Koval,, National Academy of Sciences of Ukraine, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

A.Hrymalyuk,, Odesa National Economic University, Odesa, Ukraine

D.Atstaja,, BA School of Business and Finance, Riga Stradins University, Riga, the Republic of Latvia

P.Nesenenko,, Odesa National Economic University, Odesa, Ukraine

N.Kovshun,, National University of Water and Environmental Engineering, Rivne, Ukraine

L.Masina,, Odesa I.I.Mechkikov National University, Odesa, Ukraine

повний текст / full article

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2022, (4): 138 - 144


To substantiate an alternative investment system that would meet the needs of the further development of the modern economy and at the same time solve the problem of combining the planned development of the economy with its market functioning.

The study is based on the methodology of modern postclassical science, represented primarily by synergy, the theory of complex systems and the theory of chaos, and tends to sharpen the opposition between equilibrium functioning and nonequilibrium development of complex systems. The use of analytical tools of the post-classical methodology for analyzing the potential opposite of the mechanism of functioning and the mechanism of development of the economy in the conditions of the transition to the socialist market economy.

Theoretical substantiation of the possibility of combining opposite mechanisms of functioning and development in a single economic system in the transition to the socialist market economy. This study proposes a theoretical scheme for a new investment system that includes two levels as a closed cycle of circulation of systemic capital. At the top level, there is a systematically organized process of creating new enterprises. These enterprises are created with the aim of selling them and creating new enterprises in the respective market in order to increase competitive activity. Such an investment system is able to provide a deep technological modernization of the economy from above through the constant creation of more and more green and energy-saving enterprises. However, the creation of such an investment system requires special historical conditions, since its formation is historically inaccessible to either capitalism or socialism and the system can only be created under the conditions of the socialist market economy.

The originality is associated with the substantiation of the hidden opposition of the mechanisms of functioning and development of the economy, as well as the formation of an investment system that includes two levels as a closed cycle of circulation of systemic capital in the conditions of the development of the socialist market economy.

Practical value.
The scientific contribution is associated with the ability to practically use the methods for forming a two-level investment system in a closed cycle of circulation of systemic capital.

investment system, national technostructure, planned development, socialist market economy


1. Hongjun, Yu. (2020). The Logic of Choosing the Economic System in China. International Critical Thought, 10(3), 406-423.

2. Kallis, G. (2019). Capitalism, Socialism, Degrowth: A Rejoinder. Capitalism Nature Socialism, 30(2), 267-273.

3. Burman, A. (2018). Back to Hegel! Georg Lukcs, Dialectics, and Hegelian Marxism. In Burman, A., & Baronek, A. (Eds.). Hegelian Marxism: The Uses of Hegels Philosophy in Marxist Theory from Georg Lukcs to Slavojiek. Sdertrn University. Retrieved from

4. Yankovyi, O., Koval, V., Lazorenko, L., Poberezhets, O., Novikova,M., & Gonchar, V. (2021). Modeling Sustainable Economic Development Using Production Functions. Estudios de Economia Aplicada, 39(5).

5. Perevozova, I., Savchenko, M., Shkurenko, O., Obelnytska, K., & Hrechanyk, N. (2019). Formation of Entrepreneurship Model by Innovation Activity of Industrial Enterprises. Journal of Entrepreneurship Education, 22(Special Issue), 1-6.

6. Koval, V., Hrymalyuk, A., Kulish, A., Kontseva, V., Boiko, N., & Nesenenko, P. (2021). Economic policy of industrial development and investment approach to the analysis of the national economy. Estudios De Economia Aplicada, 39(6).

7. Rekova, N., Dolozina, I., Nitsenko, V., Zaitsev, Y., & Zamlynskyi,V. (2018). Budgetary revenue structure at central level of public administration in the federal countries. Administratie si Management Public, 30, 37-50.

8. Balanovska, T., Havrysh, O., & Gogulya, O. (2019). Developing enterprise competitive advantage as a component of anti-crisis management. Entrepreneurship and Sustainability Issues, 7(1), 303-323.

9. Enfu, Ch., & Xiaoqin, D. (2017). A Theory of Chinas Miracle. Monthly Review, 8(68), 12-23. Retrieved from

10. Bazaluk, O., Yatsenko, O., Reznikova, N., Bibla, I., Karasova, N., & Nitsenko, V. (2022). International integration processes influence on welfare of country. Journal of Business Economics and Management, 23(2), 382-398.

11. Kucher, A., Mendrukh, Y., Khodakevich, O., & Dybkova, L. (2019). Management of formation of communicative competence of the future economists: case study of Ukraine. TEM Journal, 8(4), 1127-1136.

12. OECD (2021). Growth in GDP per capita, productivity and ULC. Retrieved from

13. Enfu, C. (2019). The Creation of Value by Living Labour: A Normative and Empirical Study. (Vol. 2). London and Istanbul: Canut Press.

14. Fu, J., & Geng, Y. (2019). Public participation, regulatory compliance and green development in China based on provincial panel data. Journal of Cleaner Production, 230, 1344-1353.

15. Yaodong, S., & Gillespie, A. (2020). Special Report 4: Chinas Energy System Revolution. In: Chinas Energy Revolution in the Context of the Global Energy Transition. Advances in Oil and Gas Exploration & Production. Springer, Cham.

16. Liu, Q., Lei, Q., Xu, H., & Yuan, J. (2018). Chinas energy revolution strategy into 2030. Resources, Conservation and Recycling, 128, 78-89.

17. You, S., Zhou, A.J., Zhou, S.S., Jia, L., & Wang, C. (2021). Organizational learning under institutional complexity: Evidence from township clusters in China. Management and Organization Review, 17(4), 726-754.

18. Song, Z. (2021). Economic growth and carbon emissions: Estimation of a panel threshold model for the transition process in China. Journal of Cleaner Production, 278, 123773.

19. Zang, Y., Liu, Y., Yang, Y., Woods, M., & Fois, F. (2020). Rural decline or restructuring? Implications for sustainability transitions in rural China. Land Use Policy, 94, 104531.

20. Vergara-Camus, L. (2017). Capitalism, Democracy, and the Degrowth Horizon. In Capitalism Nature Socialism, 30(2), 217-233.



This Month
All days

Guest Book

If you have questions, comments or suggestions, you can write them in our "Guest Book"

Registration data

ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.


D.Yavornytskyi ave.,19, pavilion 3, room 24-а, Dnipro, 49005
Tel.: +38 (056) 746 32 79.
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
You are here: Home