Macroeconomic Stability and Its Impact on the Economic Growth of the Country
Autor: | Oleksii Lyulyov, Kostiantyn Ivanovych Kyrychenko, Tatiana Vasylieva, Sergij Lyeonov |
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Jazyk: | angličtina |
Rok vydání: | 2018 |
Předmět: |
Macroeconomics
physical capital lcsh:HB71-74 media_common.quotation_subject 05 social sciences Stability (learning theory) lcsh:Economics as a science Production function Misery index 010501 environmental sciences 01 natural sciences Human capital economic growth Physical capital 0502 economics and business Economics macroeconomic stability Production (economics) human capital 050207 economics Function (engineering) General Economics Econometrics and Finance 0105 earth and related environmental sciences media_common |
Zdroj: | Montenegrin Journal of Economics, Vol 14, Iss 1, Pp 159-170 (2018) |
ISSN: | 1800-6698 1800-5845 |
Popis: | 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. |
Databáze: | OpenAIRE |
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