Power Engineering in Innovative Changes in the Nature of Economic Activity

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DOI
Journal Journal of Mechanical Engineering – Problemy Mashynobuduvannia
Publisher Anatolii Pidhornyi Institute of Power Machines and Systems
of National Academy of Science of Ukraine
ISSN  2709-2984 (Print), 2709-2992 (Online)
Issue Vol. 28, no. 3, 2025 (September)
Pages 6-22
Cited by J. of Mech. Eng., 2025, vol. 28, no. 3, pp. 6-22

 

Author

Valeriy M. Heyets, State Organization “Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine” (26, Panasa Myrnoho str., Kyiv, 01011, Ukraine), e-mail: gvm@ief.org.ua, ORCID: 0000-0002-2895-6114

 

Abstract

Numerous studies of the processes of transformation of economic activities in Ukraine during the implementation of the policy of transition from a planned-distributive to a market-organized system have shown that the most significant changes took place due to the package of innovative changes, which involved both economic and social components. As a result, over a period of almost 15 years, the economy of Ukraine emerged and was recognized internationally, in particular, by the USA in 2006, as a market-oriented one. In the process of transition, a certain deindustrialization took place, primarily due to the decline in manufacturing, products of which had both low competitiveness and limited possibilities of sale in the domestic and foreign markets. At the same time, economic activities were gradually adjusted in the sectors, main features of which were, on the one hand, the expansion of traditional activities with a relatively low degree of technological complexity, and on the other, the need to ensure the functioning of the economy in market conditions. A special feature of the period was the limited role of the factors of economic growth based on innovative achievements, capable of contributing to the development of industries with a relatively high level of added value. Such activities include, in particular, nuclear energy, functioning and development of which, in the conditions of the “new reality”, depends on timely replacement of capacities service life of which is ending and on the expansion of energy generation. In Ukraine’s nuclear sector, there is a possibility of localization of certain activities at the expense of the capacities of the Ukrainian energy machine building in order to significantly reduce the cost of relevant projects, which is extremely important in conditions of limited financial resources and the growing cost of building new capacities. The paper, based on the identification of the features of “new reality” of exogenous economic activities, shows the possibilities and substantiates the feasibility of developing and using energy machine building for innovative changes in the nature of economic activities.

 

Keywords: economic activities, transformational shock, single market, nuclear energy, energy security, energy machine building, innovation and localization.

 

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Received 06 August 2025

Accepted 01 September 2025

Published 30 September 2025