An economic management system for sustainable development in black sea region

Abstract

The paper aims to develop a model for measuring economic system management efficiency of the Black Sea region of Ukraine through the context of sustainable development. The model includes the rates of social and economic efficiency, productivity, and performance. The proposed approach calculates the region’s economic system management efficiency. The respective evaluation criteria are systematized: economic and social efficiency of the region’s economic activity, productivity of the use of resources, and performance of the management system. The system of evaluation indicators by each criterion and mathematical apparatus to calculate them are suggested. The paper suggests methodical approaches to evaluate the economic system management efficiency in the region under transformation. They help determine the current level against similar indicators achieved within the country and the tendencies influenced by regional factors, form the “economic system management profile”, and identify the strengths and bottlenecks.