Cyclicality of Economic Development of Ukraine in the Context of its Political and Legal Transformations
The cyclicality in the development of the Ukrainian economy during the years of its independence under conditions of its political and legal transformations has been studied. On the basis of the analysis of worldwide research the problem of influence of political transformations on the socio-econ...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
PH "INZHEK"
2016-05-01
|
| Series: | Problemi Ekonomiki |
| Subjects: | |
| Online Access: | http://www.problecon.com/export_pdf/problems-of-economy-2016-2_0-pages-194_199.pdf |
| Summary: | The cyclicality in the development of the Ukrainian economy during the
years of its independence under conditions of its political and legal transformations
has been studied. On the basis of the analysis of worldwide research
the problem of influence of political transformations on the socio-economic
development of the state has been identified. There has been developed
a methodological approach to studying the evolutionary development of the
Ukrainian economy in the context of its European integration, which comprises
three main blocks: Block 1 – studying the development of the legal
field of Ukraine; Block 2 – studying the policy of development of Ukraine
and orientation of its economic system; Block 3 – analyzing the evolutionary
development of the Ukrainian economy and determining its cyclical nature.
Within the developed approach there were used wavelet models, spectral
analysis – Fourier expansion and Johanson test. The paper puts forward
three hypotheses: hypothesis 1 – about the existence of short-term 5-year
cycles of evolutionary development of the economy; hypothesis 2 – about
the existence of a long-term cycle lasing 25 years and conditioned by political
and legal processes in the society; hypothesis 3 – about the existence
of cointegration relationships between the evolutionary development of the
economy of Ukraine and the EU. On the basis of the modern political transformations
the phases of development of the Ukrainian legal environment
have been defined and comparison of these phases with the specifics of its
economic development has been carried out. The analysis of the economic
system of Ukraine and its policy made it possible to determine the vector
of development of the Ukrainian economy. The approximating (trend) and
detailing (cyclic) components of the economic development of Ukraine were
determined with the help of wavelet expansion. Using Fourier analysis for
the detailing components allowed to distinguish 5-year cycles in the Ukrainian
economy, which proved the first hypothesis. |
|---|---|
| ISSN: | 2222-0712 2311-1186 |