Innovative renewal of financial and economic mechanism of implementation of decentralized model of local communities sustainable development
The article is devoted to the estimation of current level and development prospects of innovation-investment insurance of sustainable development of local communities in Ukraine. The structure of the financial and economic mechanism for implementing a decentralized model of sustainable development is proposed. It is investigated the dynamics of environmental charges for environmental pollution paid by enterprises, organizations, institutions of Ukraine. The forms of rent relations implementation into the system of management with sustainable development of communities under the decentralization conditions are determined. It is offered to implement improving of mechanisms and regulations of payment for the use of natural resources on the basis of deployment process of capitalization, corporatization, institutionalization, diversification and securitization of natural resource activity in market conditions.
We model cross-market Bitcoin prices as long-memory processes and study dynamic interdependence in a fractionally cointegrated VAR framework. We find long-memory in both the individual markets and the system of markets depicting non-homogeneous informational inefficiency. Moreover, Bitcoin markets are found to be fractionally cointegrated, where uncertainty negatively impacts this type of cointegration relationship.