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Economic Essence of Infrastructure

Author

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  • Oleksiy Kalivoshko

    (National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine)

Abstract

The purpose of the article is the study of the economic essence of infrastructure and systematization of scientific approaches to understanding the concept of 'infrastructure'. The approaches of scientists to the interpretation of the infrastructure essence were systematized. In particular, the six directions of interpretation of the infrastructure essence were distinguished: functional-basic, institutional, block-aggregation, service-auxiliary, composite, structural. The existence of these directions is due to differences in the interpretation of the components and functions of infrastructure by scientists. According to the author's opinion, infrastructure is the organic unity of institutions, mechanisms and instruments that ensure the effective functioning and development of the economic system. The analysis of the basic functions of the infrastructure was carried out. It was determined that the infrastructure performs two basic functions: functional – the creation of general conditions for the operation of elements and the development of the economic system; controlling and regulating – external (state institutions) and internal (owners and administration) control and regulation of the elements of economic system to improve the effectiveness of their activities.

Suggested Citation

  • Oleksiy Kalivoshko, 2017. "Economic Essence of Infrastructure," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 139-146, December.
    • Handle: RePEc:iaf:journl:y:2017:i:4:p:139-146
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    Cited by:

    1. Oleksiy Kalivoshko, 2018. "Methodological Bases of Research the Infrastructure of Financial and Credit Market," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 124-130, December.

    More about this item

    Keywords

    infrastructure; market; services sector; economic institutions; functions of infrastructure;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General

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