Multifactor models for studying the EU countries’ international trade
Journal Title: Economic Annals-XXI - Year 2019, Vol 175, Issue 1
Abstract
Successful decision-making in the field of international trade is a background for further development of international trade in a balance between the economic interests of its participants. It is based on use of the latest tools for making such decisions, in particular, multifactor methods for economic processes analysis. The purpose of this study is to develop multifactor models of the international trade study by using factor, cluster and discriminant analyses to determine the quality of the model results depending on the method used. In the process of study, the following general scientific and special methods were used: system analysis to determine the directions of the international trade study; cluster analysis, factor and discriminant analysуs for the development of multifactor models of the international trade study. Based on the results of factor analysis, 13 indicators were grouped according to their influence. With the help of cluster modelling, the EU countries were grouped according to quantitative indicators such as GDP, final consumption expenditure and gross capital formation. According to discriminant analysis, significance of the selected factors was interpreted. Consequently, such factors as exports and imports of goods and services, the population size and emigration of population have direct significant impact on the countries’ economic development, namely on GDP, final consumption expenditure and gross capital formation. Theoretical and methodological provisions are brought to the level of specific and practical proposals to form the basis of studying indicators of international trade and develop specific models for studying international trade by using multifactor modelling alternative methods.
Authors and Affiliations
Nataliia Dziubanovska
Keywords
Related Articles
- EP ID EP626390
- DOI 10.21003/ea.V175-05
- Views 118
- Downloads 0
Integral assessment of the sustainable development of agriculture in Ukraine
Introduction. An integrated assessment of the accounting and analytical supplying indicators for the sustainable development of agricultural enterprises is the basis and starting point for the development of methodical a...
Multiple linear regression of stock quotes of the Lithuanian enterprises
The authors attempt to assess the extent to which stocks of Lithuanian companies quoted on the NASDAQ Vilnius Stock Exchange are impacted by financial results of the corresponding companies. It has been determined that t...
Managerial accounting solutions: Lean Six Sigma application in the woodworking industry. A Practical aspect
The increasing complexity of business relations in the conditions of increased competition, manifested in the process of allocation and use of economic resources as well as in the process of seizing the outlets, has led...
Transparency of the enterprise: from theory to practice of evaluation (on the example of retail networks)
Introduction. In the conditions of globalisation of the world economy and informatisation of society, transparency is one of the most important factors of enterprise development. Openness of information concerning busine...
Analytical assessment of the jewellery market in Ukraine
The article proposes scientific and practical recommendations aimed at deepening the analysis of the jewellery market in Ukraine and establishing its actual characteristics and tasks for perspective development.It is det...