Fiscal decentralization and macroeconomic stability: the experience of Ukraine’s economy

Melnyk, Leonid; Sinevičienė, Lina; Lyulyov, Oleksii; Pimonenko, Tetyana; Dehtyarova, Iryna

doi:10.21511/ppm.16(1).2018.10

Cited by 40 publications

(25 citation statements)

References 24 publications

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“…The institutional quality impact on the economic growth, as a rule, is defined via peculiarities of the social and economic models of different countries, particularly, changes in the transition economies (Melnyk et al 2018), Redek and Susjan (2005). Chousa et al (2005), Vitola and Senfelde (2015) evaluated the institutional system's development in transition economies and the impact it has on economic performance.…”

Section: Literature Reviewmentioning

confidence: 99%

Institutional complementarity for social and economic development

Bilan

Vasilyeva

Lyeonov

et al. 2019

BTP

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oday the prevention of global challenges (from global security to the problems of poverty) relates to the institutional quality. Nowadays, the social standards or other “social rules” make the part of the market system, since they are built into the country’s institutional structure. Neither social nor economic reforms can be implemented without the support through institutional mechanisms. The purpose of this paper is to explore the relationship between social sector institutions and basic institutions, taking into account the economic development of countries and the way in which they are formed. A number of empiric studies confirmed significant role of institutions to provide conditions for economic development. In order to define and assess the link between the basic institutions and the social sector institutions, we formed panel data that includes 20 countries for the period from 2007-2014. We assessed quality of the basic institutions using The Worldwide Governance Indicators (WGI). WGI methodology provides an evaluation of six dimensions of the institutional quality that enables to define the connection and the impact of every dimension on the institutional quality of the social sector. The model additionally evaluates the impact of the incomes distribution inequality, general economic welfare on the institutional quality of the social sector. Among all dimensions of governance “Rule of Law” and “Regulatory Quality” the statistically significant direct impact on the institutional quality of the social sector has been revealed. It confirms the complementarity of basic institutions and institutions of the social sector.

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Section: Literature Reviewmentioning

confidence: 99%

Institutional complementarity for social and economic development

Bilan

Vasilyeva

Lyeonov

et al. 2019

BTP

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“…Tax system a number of tax payments (u3), the total tax burden on the business (u17) (Melnyk, 2018);…”

Section: Table 2 Groups Of Drivers Of the Shadow Economy Group Of Sementioning

confidence: 99%

Shadow Economy and its Impact on Demand at the Investment Market of the Country

Bilan¹,

Vasilyeva²,

Lyeonov³

et al. 2019

EBER

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The objective of the research is to study the link between drivers of the shadow economy and the demand level on the investment market. Research Design & Methods: Based on the Shapiro-Wilk test, the normality of capital investment distribution and the shadow economy level of the European Union countries and Ukraine are evaluated. Spearman and Shapiro-Wilk tests are used to identify the most relevant indicators of impact. Findings: The analysis of the changing dynamics regarding the capital investment volume and the shadow economy level in Ukraine and the EU countries during 2010-2016 shows that there is an inverse link between them-the growth of the shadow economy has a negative impact on the capital investment volume in the country. Implications & Recommendations: This research proves significant influence of the shadow economy on the demand level on the investment market and underlines the necessity to review the current state policy to stimulate the demand on the investment market from the viewpoint of the most relevant shadow drivers. Contribution & Value Added: The scientific contribution of the article is that existing research on the impact of shadow economy on the economic development of countries remains fragmented, as well as studies assessing its effect on a country's investment attractiveness. The constructed econometric model may provide some insight into better understanding of the most influential factors affecting a country's investment attractiveness and the immediate response to it. Article type: research article

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“…The main target of changes in the integral indicator of human capital should be considered its approximation to one. Therefore, the classification of countries based on the integral Human Asset Index is proposed to be carried out according to a scale: The study of the influence and statistical significance of changes in social progress on macroeconomic stability, we propose to do with the model previously proposed in the work [Melnyk et al 2018]:…”

Section: Aim and Methodsmentioning

confidence: 99%

Macroeconomic stability and social progress in the EU member states and Ukraine

Lyulyov

2018

amme

Self Cite

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The main purpose of the study is the role and influence of social factors on macroeconomic stability. The research is based on the hypothesis that countries with greater macroeconomic stability achieve greater social progress. The integrated index of human capital is proposed as a target for the construction of an appropriate system for monitoring social progress, and in the future – identifying the impact on macroeconomic stability. The main stages of estimating the integral index of human capital are: identification of relevant indicators that will form each of the sub-indices; filtering the selected indicators in the previous stage based on the analysis of the correlation matrix of each of the subindices; normalization of indicators in each of the subindices, calculation of the integral index for each of the subindices, calculation of the final integral index of human capital. The calculations of the integrated capital human capital index for some of the EU countries (Latvia, Lithuania, Poland, Croatia, Romania) and Ukraine for the period 2000–2015 allowed us to conclude that Romania and Ukraine were on a marginal level of social progress, while Lithuania, Poland and Croatia in the range of moderate level. The use of the OLS (the least squares) method to determine the significance of changes in social progress to macroeconomic stability has revealed a positive and statistically significant impact of social progress on macroeconomic stability.

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Fiscal decentralization and macroeconomic stability: the experience of Ukraine’s economy

Cited by 40 publications

References 24 publications

Institutional complementarity for social and economic development

Institutional complementarity for social and economic development

Shadow Economy and its Impact on Demand at the Investment Market of the Country

Macroeconomic stability and social progress in the EU member states and Ukraine

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