Socio-economic innovations in systems analysis: Environmental and economic aspects

Current socio-economic development framework provides insufficient opportunities to apply traditional decision making and managerial tools. Specifically, it ignores the bifurcation (qualitative) changes in economic systems as well as critical relationships between the economy and environment. This results in nonlinear relationships between socio-economic and environmental factors. In fact, ecological and economic effects are complex multi-factorial phenomena. The paper offers a methodological approach that defines the overall effect from economic activities of an economic agent with the help of a correction coefficient, which is based on the ratio of internal and external effects. This methodology is applied to define the correction coefficients in the Ukrainian economy on the basis of the data collected over more than 40 years. The paper also offers the analysis of investment business projects in Sumy Region showing internal, external effects, and integral results of the investment business projects.