Assessment of Compliance to the Market Environment of the Institutional Economic Mechanism of Maritime Transport Operation

Andrey Grimalyk; Sergiy Salenko; Nadezhda Tsvetkova; Viktor Koval

doi:10.31520/2616-7107/2023.7.3-4

Andrey Grimalyk Odessa National University of Economics, Odesa, Ukraine http://orcid.org/0000-0002-8323-9193
Sergiy Salenko Institute of Market Problems and Economic and Ecological Researches of the National Academy of Sciences of Ukraine, Odesa, Ukraine http://orcid.org/0009-0003-1729-8675
Nadezhda Tsvetkova Tsenov Academy of Economics, Svishtov, Bulgaria http://orcid.org/0009-0001-0939-4902
Viktor Koval Izmail State University of Humanities, Izmail, Ukraine http://orcid.org/0000-0003-2562-4373

DOI: https://doi.org/10.31520/2616-7107/2023.7.3-4

Abstract

Introduction. When analyzing the dynamics of the current situation, it is important to consider the institutional cycle, which is clearly manifested in the long-term economic development of maritime transport and international trade. Owing to the institutional nature of this cycle, an institutional-economic mechanism that is adequate for one of its phases may be inadequate for another historical phase. Therefore, for an objective assessment of the compliance of the institutional-economic mechanism of maritime transport in general economic situations, full consideration of the specific historical stage of the institutional cycle is of fundamental importance.

Aim and tasks. This study aims to combine the neo-institutional approach with a fundamental analysis of the processes of globalization and localization to develop a scientific basis for an objective assessment of the compliance of the institutional-economic mechanism of sea transport with the economic situation.

Results. The methodology of the transactional approach was used to examine informational influence on the economic choice of subjects in the maritime transportation market through an organized search for alternative options for market operations. The application of macro-marketing in the field of maritime transport made it possible to determine the possibility of reducing the level of information costs of economic entities in this field by 35–40% and the overall level of transaction costs by 2-3% and significantly increasing the profits of companies.

Conclusions. The assessment of the compliance of the institutional and economic mechanism of sea transport in general economic situations is related to both the neo-institutional version of the transactional analysis and the theory and practice of macro-marketing, in accordance with the new historical conditions associated with the crisis of globalization and the tendency to localize production. Application of the transactional approach to the informational influence on the economic choice of subjects of the maritime transport market testified that not so much market prices for transport services in themselves can become a tool for indirect control through prices, but information about them as a basis for optimizing the functioning of the entire economic system of maritime transport due to the relative reduction of uncertainty.

Keywords:

maritime transport, institutional cycle, economic mechanism, transactional approach, macro-marketing.

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