CLASSIFICATION OF ECONOMIC ASSETS OF THE REPUBLIC OF BELARUS AS A BASIS FOR EFFECTIVE MANAGEMENT DURING THE PERIOD OF EXTERNAL RESTRICTIVE MEASURES

Abstract

At the beginning of the 21st century, the Republic of Belarus – a relatively young subject of international law with a medium-sized economy by European standards–found itself amidst significant global events during the formation and strengthening of its statehood. These events became a serious challenge for the development of its national economy and society. The situation was further aggravated by the introduction of economic and social restrictive measures, the so-called sanctions, by several leading global economies. This restricted access to high-tech tangible, intangible (essential for the effective functioning and growth of the country's micro- and macroeconomy with developed industry), and financial assets. It also led to a decrease in the availability of certain types of tangible assets and consumer goods required to ensure the normal livelihood of ordinary people and their households. Thus, not only political and economic but also humanitarian spheres were affected. This presents the management of domestic enterprises and other bodies with unprecedented challenges, necessitating the search for new criteria, concepts, and approaches. To address the problem of effective asset management in the Republic of Belarus under the impact of restrictive measures, their classification was performed based on the theoretical tenets of systemic economics. The article examines the basic concepts of systemic economics theory formulated by János Kornai, functioning under conditions of socio-economic turbulence, and presents their adaptation to the modern conditions of the Republic of Belarus. Asset beneficiaries, who manage and circulate assets in domestic conditions, are structured according to the levels adopted in the theory of systemic economics. Based on the results of the author's research, a classification of the main types of assets they use is presented according to the frequency of their turnover, i.e., by their significance for the country's national economic system. The presented hypothesis and classification are considered as a basis for developing a concept of effective economic asset management during the period of external restrictive measures, applicable both to households and at higher levels of systemic economics.