Institutional aspect of brownfields revitalization: the case of Ukraine

Abstract

The article investigates the institutional aspect of brownfields revitalization – areas or sites that are derelict, contaminated and in need of active measures before they can be effectively used again for social and economic development of the area. The method of expert survey was used as a tool to identify problematic issues of brownfields revitalization and test the hypothesis of the need for institutional support to ensure the modernization of the economy of old industrial regions. The general conclusion that can be drawn from the conducted research is that institutional measures for brownfields revitalization should be aimed at developing special institutions that would facilitate the revitalization of brownfields in order to modernize the economy of the regions. Namely, brownfields should be transformed into locations for innovation infrastructure and organizations to support small and medium enterprises; advantageous specialization of the region should be ensured by creating industrial sites that meet the current technological requirements, have modernized production facilities, specialize in the production of science-intensive products or waste recycling, and operate on principle of circular economy.