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Title | Macroeconomic Stability and Its Impact on the Economic Growth of the Country |
Authors |
Vasylieva, Tetiana Anatoliivna
Lieonov, Serhii Viacheslavovych Liulov, Oleksii Valentynovych Kyrychenko, Kostiantyn Ivanovych |
ORCID |
http://orcid.org/0000-0003-0635-7978 http://orcid.org/0000-0001-5639-3008 http://orcid.org/0000-0002-4865-7306 http://orcid.org/0000-0002-7984-0293 |
Keywords |
економічне зростання economic growth людський капітал human capital макроекономічна стабільність macroeconomic stability індекс нещастя misery index фізичний капітал physical capital |
Type | Article |
Date of Issue | 2018 |
URI | https://essuir.sumdu.edu.ua/handle/123456789/80683 |
Publisher | NGO "Economic Laboratory for Transition Research" (ELIT) Podgorica |
License | Copyright not evaluated |
Citation | Macroeconomic Stability and Its Impact on the Economic Growth of the Country / T.A. Vasylieva, S.V. Lyeonov, О.V. Lyulyov, К.I. Kyrychenko // Montenegrin Journal of Economics. – 2018. - Vol. 14, No.1. - P. 159-170. - DOI: 10.14254/1800-5845/2018.14-1.12. |
Abstract |
The main purpose of this research is to study the role and impact force of macroeconomic stability on economic growth in the period from 2000 to 2016, using the modified Cobb–Douglas production function. The results of Global Competitiveness Report, published by World Economic Forum, demonstrated that at the existing level of economic growth in Ukraine the basic drivers for improvement of the country's competitiveness are necessary to be considered for building of the production function. Basing on the analysis performed, the author created odified Cobb–Douglas production function where Macroeconomic stability, openness of the economy and foreign direct investments are used as additional explanatory variables of Cobb–Douglas production function. Obtained findings indicate the high level of compliance of the built model with the initial data. Herewith, the assessment of the elasticity of macroeconomic stability is positive and statistically significant. |
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File | Size | Format | Downloads |
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Vasylieva_Montenegrin_Journal_of_Economics_1_2018.pdf | 500,57 kB | Adobe PDF | 1910984122 |
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