ECONOMIC DEVELOPMENT MODELING OF NATIONAL ECONOMY OF UKRAINE
Journal Title: Міжнародний науковий журнал "Інтернаука". Серія: "Економічні науки" - Year 2018, Vol 1, Issue 4
Abstract
The modeling of economic development of national economy of Ukraine was carried out based on the R. Solow model for the period 2000 - 2016. The composition of the factors included in the model is taken into account, taking into account modern features of the development of national economy of Ukraine, and the influence of each factor on economic growth of Ukraine was established. The economic development of national economy has been estimated based on the basic indicator - the gross domestic product, which is influenced by a number of factors, among them the following investments in fixed assets, labor costs and research and development costs for the postindustrial society. With the formed linear regression model, it was established that the economic growth of the national economy of Ukraine for 2000 - 2016 was mainly due to extensive factors (changes in the workforce), which is typical for the development of industrial society, whereas the intensive factors (investments and innovations) that are characteristic for the development of postindustrial society remain not significant and do not even progress (degrade) over the years. So, according to the R. Solow model, the so-called "engine" of Ukraine's economic growth is labor for a long time. However, this situation indicates the functioning of the national economy at the level of "eating away" and providing only basic needs of the population, while development is not discussed here, only providing the necessary for the survival of the population. To ensure the economic development of the national economy at the level of countries with a postindustrial society (countries of EU), it is necessary to update the principles of state management using the latest technologies and to restructure the national economy of Ukraine with the definition of high-priority economic activities.
Authors and Affiliations
Olha Pyroh, Volodymyr Katan
Keywords
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- EP ID EP581203
- DOI 10.25313/2520-2294-2018-4-3694
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