ISSN 2413-2322 (Online)

ISSN 2221-1055 (Print)

UDS: 330.322.2:330.35 DOI: https://doi.org/10.32317/2221-1055.202106068
Економіка агропромислового виробництва

Investments as a basis for the growth of Ukrainian agricultural economy / Matsybora T.V. // Ekonomika APK. - 2021. - № 6 - P. 68

The purpose of the article is to theoretically substantiate the leading role of investment in economic growth and development and to confirm the relationship between investment and economic growth on the example of empirical analysis of the agricultural sector of Ukraine’s economy. Research methods. Methods: dialectical method of scientific knowledge, analysis and synthesis, systemic generalization (study of the evolution of theories of economic growth; determining the list of factors for the analysis of economic growth, drawing conclusions), correlation and regression analysis (quantitative measurement of capital investment). in the agricultural sector on the gross value added of the agricultural sector, household income on the volume of investments in the agricultural sector and the rating of investment attractiveness of Ukraine on the gross value added of the agricultural sector). Research results. The leading role of investments in economic growth have been theoretically substantiated. The main factors of economic growth of agrarian economy has been established. A regression models have been built for dependence of gross value added of the agricultural sector on the volume of capital investments; of volume of capital investments in the agricultural sector from household incomes and of gross value added of the agricultural sector from the rating of investment attractiveness of Ukraine (Ease of Doing Business). Scientific novelty. Based on the establishment of the main factors of growth of the agricultural economy, econometric models has been built, which are based on linear regression and allow to determine the degree of dependence between gross value added of the agricultural sector and the volume of capital investment; between volume of capital investments in the agricultural sector and a household incomes, and between gross value added of the agricultural sector and the rating of investment attractiveness of Ukraine (Ease of Doing Business). Practical significance. Conclusions, proposals and practical recommendations can be used in the development of state programs for the development of the agricultural sector of Ukraine's economy. Tabl.: 1. Figs.: 3. Refs.: 20.
Key words: investments; capital; economic growth; theories of economic growth; factors of economic growth; development; gross domestic product (GDP); gross value added (GVA) of the agricultural sector; income; institutions; human capital

References

  1. Blaug, M. (1994). Ehkonomicheskaya mysl' v retrospektive, 4-e izd. [Economic thought in retrospect 4th edition]. Moskva: Delo Ltd [In Russian].
  2. Venher, V.V. (2016). Pokaznyky ekonomichnoho zrostannia: haluzevyi aspekt [Economic growth indicators: sectoral aspect]. Prychornomorski ekonomichni studii, 7, pp. 33-37 [In Ukrainian].
  3. Mochernyi, S.V., et al. (2000). Ekonomichna entsyklopediia : u 3 t. [Encyclopedia of economics: 3 vols.]. (Vol. 1). Kyiv : Vydavnychyi tsentr «Akademiia» [In Ukrainian].
  4. Bazylevych, V.D. (2006). Istoriia ekonomichnykh uchen : pidruchnyk: u 2 ch. [History of economic thought: 2 ch.]. V.D. Bazylevych (Ed.). Ch. 1. Kyiv: Znannia [In Ukrainian].
  5. Bazylevych, V.D. (2006). Istoriia ekonomichnykh uchen : pidruchnyk: u 2 ch. [History of economic thought: 2 ch.]. V.D. Bazylevych (Ed.). Ch. 2. Kyiv: Znannia [In Ukrainian].
  6. Kejns, Dzh.M. (1978). Obshchaya teoriya zanyatosti i deneg [General Theory of employment and money]. Moskva : Progress [In Russian].
  7. Petti V., Smit A., Rikardo D., Kejns Dzh. & Fridmen M. (2000). Klassika ehkonomicheskoj mysli: sochineniya [Classics of economic thought: works]. Moskva: Ehksmo-Press [In Russian].
  8. Lupenko, Yu.O. & Zakharchuk, O.V. (2018). Investytsiyne zabezpechennya innovatsiynoho rozvytku silʹsʹkoho hospodarstva Ukrayiny. [Investment provision of innovative development of agriculture of Ukraine]. Ekonomika APK, 11, pp. 9 – 18 [In Ukrainian].
  9. Makkonnell Kehmpbell, R. & Bryu Stehnli, L. (1992). Ehkonomiks: Principy, problemy i politika. v 2 t. [Economics: principles, problems and policy. in 2 vol.]. (Vol. 2). Moskva: Respublika [In Russian].
  10. Bazylevych, V.D., Bazylevych, K.S. & Balastryk, L.O. (2008). Makroekonomіka: pіdruchnyk [Macroeconomics: textbook]. V.D. Bazylevych (Ed.). Kyiv : Znannia [In Ukrainian].
  11. Mill' Dzh., S. (1980). Osnovy politicheskoj ehkonomii: v 3 t. [Fundamentals of political economy: in 3 vol.]. Moskva : Progress [In Russian].
  12. Simonenko, G.F. (1900). Politicheskaya ehkonomiya v ee novejshikh napravleniyakh. obzor i kriticheskaya ocenka uchenij glavnykh predstavitelej sovremennoj ehkonomicheskoj nauki, osobenno novoistoricheskoj shkoly [Political economy in its newest directions. review and critical assessment of the teachings of the main representatives of modern economic science, especially the new historical school]. Warshawa [In Russian].
  13. Smit, A. (2001). Dobrobut natsii. Doslidzhennia pro pryrodu ta prychyny dobrobutu natsii [An inquiry into the nature and causes of the wealth of nations]. Kyiv: Port-Royal [In Ukrainian].
  14. Chukhno, A.A., Yukhymenko, P.I &, Leonenko, P.M. (2007). Suchasni ekonomichni teorii: pidruchnyk [Modern economic theories: textbook]. A.A. Chukhno (Ed.). Kyiv : Znannia [In Ukrainian].
  15. Alfaro, L., Kalemli-Ozcan, S. & Volosovych, V. (2003). Why doesn’t Capital Flow from Rich to Poor Countries? An Empirical Investigation. University of Houston, December [In English].
  16. Cobb, C.W. & Douglas, P.H. (1928). A Theory of Production. American Economic Review, 18, pp. 139-165 [In English].
  17. Kaldor, N. (1961). Capital Accumulation and Economic Growth, In: E.A. Lutz, D.C. Hague The Theory of Capital. New York, St. Martins press, pp. 177-222 [In English].
  18. Lucas, R. (1990). Why doesn't Capital Flow from Rich to Poor Countries? The American Economic Review, 80 (2), pp. 92–96 [In English].
  19. Malthus, T.R. (1836). Principles of Political Economy. Pickering Retrieved from: https://oll.libertyfund.org/title/malthus-principles-of-political-economy#lf1462_label_064 [In English].
  20. Solow, R.M. (1956). A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, February, 70 (1), pp. 65-94. Retrieved from: https://pages.nyu.edu/debraj/Courses/Readings/Solow.pdf [In English].
Read article: ekonomikaapk_2021_06_p_68_78.pdf