Macroeconomic Stability and Its Impact on the Economic Growth of the Country
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, demonstrate...
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| Format: | Article |
| Language: | English |
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NGO “Economic Laboratory for Transition Research” (ELIT)
2018-03-01
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| Series: | Montenegrin Journal of Economics |
| Subjects: | |
| Online Access: | http://mnje.com/sites/mnje.com/files/159-170_vasylieva_et_a.pdf |
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| author | Tatiana Vasylieva Sergij Lyeonov Oleksii Lyulyov Kostiantyn Kyrychenko |
| author_facet | Tatiana Vasylieva Sergij Lyeonov Oleksii Lyulyov Kostiantyn Kyrychenko |
| author_sort | Tatiana Vasylieva |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-1ac3347d7ed74dd49873f63d0f5829ee |
| institution | DOAJ |
| issn | 1800-5845 1800-6698 |
| language | English |
| publishDate | 2018-03-01 |
| publisher | NGO “Economic Laboratory for Transition Research” (ELIT) |
| record_format | Article |
| series | Montenegrin Journal of Economics |
| spelling | doaj-art-1ac3347d7ed74dd49873f63d0f5829ee2025-08-20T03:15:54ZengNGO “Economic Laboratory for Transition Research” (ELIT)Montenegrin Journal of Economics1800-58451800-66982018-03-01141159170Macroeconomic Stability and Its Impact on the Economic Growth of the CountryTatiana Vasylieva0Sergij Lyeonov1Oleksii Lyulyov2Kostiantyn Kyrychenko3Sumy State University, Educational and Research institute of Finance, Economy and Management named Oleg Balatskiy, Sumy, Ukraine Sumy State University, Сhair of Finance, Banking and Insurance, Sumy, UkraineSumy State University, Сhair of Economics and Business Administration, Sumy, UkraineInternational Affairs Department, Sumy State UniversityThe 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.http://mnje.com/sites/mnje.com/files/159-170_vasylieva_et_a.pdfeconomic growthhuman capitalmacroeconomic stabilityMisery indexphysical capital |
| spellingShingle | Tatiana Vasylieva Sergij Lyeonov Oleksii Lyulyov Kostiantyn Kyrychenko Macroeconomic Stability and Its Impact on the Economic Growth of the Country Montenegrin Journal of Economics economic growth human capital macroeconomic stability Misery index physical capital |
| title | Macroeconomic Stability and Its Impact on the Economic Growth of the Country |
| title_full | Macroeconomic Stability and Its Impact on the Economic Growth of the Country |
| title_fullStr | Macroeconomic Stability and Its Impact on the Economic Growth of the Country |
| title_full_unstemmed | Macroeconomic Stability and Its Impact on the Economic Growth of the Country |
| title_short | Macroeconomic Stability and Its Impact on the Economic Growth of the Country |
| title_sort | macroeconomic stability and its impact on the economic growth of the country |
| topic | economic growth human capital macroeconomic stability Misery index physical capital |
| url | http://mnje.com/sites/mnje.com/files/159-170_vasylieva_et_a.pdf |
| work_keys_str_mv | AT tatianavasylieva macroeconomicstabilityanditsimpactontheeconomicgrowthofthecountry AT sergijlyeonov macroeconomicstabilityanditsimpactontheeconomicgrowthofthecountry AT oleksiilyulyov macroeconomicstabilityanditsimpactontheeconomicgrowthofthecountry AT kostiantynkyrychenko macroeconomicstabilityanditsimpactontheeconomicgrowthofthecountry |