Articles by : Bilotserkivetsʹ Oleksandr Hennadijovych№ 2/2013
Economy under the conditions of modern transformations
SHUMSKA Svitlana Stepanivna1, BILOTSERKIVETSʹ Oleksandr Hennadijovych2
1Institute for Economics and Forecasting, NAS of Ukraine
2Institute for Economics and Forecasting, NAS of Ukraine
Real effective exchange rate of the UAH: an assessment of the comparative advantages of Ukrainian goods and forecast for 2013–2014
Ekon. prognozuvannâ 2013; 2:20-31 | |
ABSTRACT ▼
The article describes the main factors determining the conditions and prospects of Ukrainian exports on foreign markets. Based on the expected dynamics of Ukrainian and world GDP, changes in the terms of trade in goods and services for the CIS, the authors outline the exogenous conditions that describe the opportunities and constraints shaping for domestic products on the markets of different countries.
For the analysis of price competitiveness of domestic goods, the article justifies the use of dynamic partial indexes of the real effective exchange rate for specific product groups. The authors present the results of calculations of the dynamics of composite index REER for 2000-2012 calculated on the basis of the information regarding the geographical structure of Ukraine’s trade turnover using the consumer market price index as a price indicator. There is a detailed analysis of partial REER calculated for product groups (with two-character
UKTZED) during 2000–2012 taking into account the average 2010–2012 geographic structure of exports (for the ""export basket"") on annual basis (2000 taken as starting point).
Based on the scenario forecasts, the composite index and partial REERs for 97 product groups, the authors show the export price advantages of the domestic products, which can be obtained with the use of exchange-rate and pricing policies
Keywords:real effective exchange rate, price competitiveness
Article in Ukrainian (pp. 20 - 31) | Download | Downloads :740 |
REFERENCES ▼
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№ 1/2014
Economy under the conditions of modern transformations
KUZNETSOVA Lidiіa Illivna1, BILOTSERKIVETSʹ Oleksandr Hennadijovych2
1Institute for Economics and Forecasting, NAS of Ukraine
2Institute for Economics and Forecasting, NAS of Ukraine
Inflationary processes in Ukraine: main tendencies and impact factors in 2014
Ekon. prognozuvannâ 2014; 1:25-36 | |
ABSTRACT ▼
The low volatility of pricing in Ukraine, in 2013, on the whole, corresponded to general tendencies shaped by the crisis phenomena of the world economy. The very small increase in consumer prices was supported by low rates of the increase in the prices of the producers of consumption items.However, analysis shows that the dynamics of producers' prices does not compensate for the increase in the costs of the production of coke and products of oil processing chemicals, and, in the rest of activities, production profitability decreased as compared to 2012. Renewal of production productivity will require increased rates of producers' prices. Be-sides, the development of inflation processes in 2014 will be affected by the floating exchange rate of the US dollar (introduced by the NBU).Devaluation of the hryvnia affects the inflation rates both directly, through the direct appreciation of imported consumer goods, whose share of Ukraine's domestic market, in some segments, is extremely high, and indirectly, i.e. through the increase in producers' prices due to the appreciation of the imported goods of intermediate consumption.Increased exchange rate of the dollar will have the strongest effect as speeding up the rise of prices for non-food items, in most of which the imported component exceeds 80%. Among them are, first of all, clothes, shoes, home appliances, medical items. The dynamics of prices for food items will be less affected by a moderate growth of the dollar exchange rate; however, in case of a considerable devaluation of the hryvnia, the prices for food items will considerably increase too, even despite the objective preconditions.The prices for services will grow depending on how much the devaluation of the hryvnia will make it possible to retain the reduced value of the imported energy materials.
Keywords: inflation, deflation, consumer prices, food items, non-food items, services, producers' prices, economic activities, industrial activities, price growth rates, volatility, production profitability, forecast of price dynamics
JEL: E31
Article in Ukrainian (pp. 25 - 36) | Download | Downloads :689 |
REFERENCES ▼
№ 1/2021
Economy under the conditions of modern transformations
KUZNETSOVA Lidiіa Illivna1, BILOTSERKIVETSʹ Oleksandr Hennadijovych2
1Institute for Economics and Forecasting, NAS of Ukraine
2Institute for Economics and Forecasting, NAS of Ukraine
FORSIGHT IN UKRAINE: PROBLEMS OF ORGANIZATION IN THE CONTEXT OF WORLD PRACTICE
ABSTRACT ▼
The article presents the results of a research on world and European experience of foresight research. Attention is focused on the organization of foresight research and institutional support of foresight in EU countries. The authors substantiate the necessity of expanding the practice of foresight research in Ukraine in the conditions of those changes in the nature of the world economy that occur under the influence of the COVID-19 pandemic and on the verge of upcoming change in the Kondratiev long cycles.
Current trends in the world economy facilitate access to foreign markets, but at the same time create certain risks for national economies.
Increasing competition between domestic and foreign producers for many countries means the bankruptcy of domestic enterprises, especially medium- and high-tech ones, which are unable to compete with corporations that are more powerful. Domestic prices for almost all goods increasingly depend on prices in other markets, which can form imbalance between the cost and price of labor and destroy the labor market, increasing migration of the working population, especially those with high levels of human capital, which reduces the country's opportunities in education, science and production and even multiplicatively affects economic growth.
In these conditions, it becomes extremely important to determine the guidelines for future economic development and society, which actualizes the whole range of foresight research. For Ukraine, where foresight research is limited, the experience of those countries where foresight has become an integral part of strategic planning is vital. The article is devoted to the study of this experience, which identifies the basic organizational measures of foresight research, the main aspects of foresight institutionalization and the problems that hinder the development of foresight in Ukraine.
The publication was prepared within the research project on "Institutional and organizational basis for the foresight research "Economy of Ukraine – 2050” « (state registration No 0121U108846).
Keywords:foresight technology, foresight research, development policy, scientific and technical guidelines, institutionalization of foresight research
JEL: E61
Article in Ukrainian (pp. 127 - 144) | Download | Downloads :425 |
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№ 3/2022
War economySKRYPNYCHENKO Mariya Illivna1, KUZNETSOVA Lidiіa Illivna2, BILOTSERKIVETSʹ Oleksandr Hennadijovych3
1Institute for Economics and Forecasting, NAS of Ukraine
2Institute for Economics and Forecasting, NAS of Ukraine
3Institute for Economics and Forecasting, NAS of Ukraine
SCENARIO BASED MACRO ASSESSMENTS OF THE POST-WAR RECOVERY OF UKRAINE'S ECONOMY
ABSTRACT ▼
The article outlines the long-term trends in the development of the world economy against the background of the sharp deterioration in the conditions of global growth, primarily due to the ongoing war in Ukraine, persisting inflation and tightening financial conditions.
A special place is given to the main task of the post-war reconstruction of Ukraine’s economy, which is the transition from the pre-war commodity-agrarian, and import-dependent economy and ensuring economic recovery based on modern achievements in science, technology and the new technological order. Completing the task includes the restoration of infrastructure, restructuring the economic sectors and activities that should become drivers for the recovery of Ukraine's economy in the near future (defense-industrial complex, agricultural sector, construction, ICT sector, and mechanical engineering), preservation of human capital, etc.
The authors note that in 2022, a significant drop in output in all economic activities is expected, which will persist until the end of hostilities. Construction, whose activities will be limited to the restoration of destroyed critical infrastructure, and industry, which accounted for the lion's share of Ukraine's pre-war industrial production (mining, metallurgy, energy), will experience the biggest decline.
The starting conditions of the forecast estimates of Ukraine's post-war recovery are identified, such as investment attraction, a high rate of accumulation of fixed capital to provide a shorter period of economic recovery, and achieving a moderate inflation. Calculations show that attaining the rate of gross accumulation of fixed capital up to 30-35% of GDP would contribute to a rapid recovery of Ukraine's economy after the war.
It is shown that the main factors of the decrease in merchandise exports during the war are the drop in output and the erosion of this country’s transport and logistics potential. An assessment is made of the value and physical volumes, as well as the commodity and geographical structure of merchandise exports from Ukraine in 2022. The authors also provide an assessment of the impact of the reduced physical volume of merchandise exports on output, value added and labor wages in Ukraine.
The risks of ensuring the post-war recovery of Ukraine's economy are identified, the main of which are the continuation of the military aggression by the Russian Federation after 2023 and the escalation of hostilities on the territory of Ukraine with a strengthening impact of destructive shocks from the global recession on this country’s domestic economic processes.
Keywords:post-war recovery of Ukraine's economy, destruction, infrastructure, restructuring, human capital, drivers of development, investments, rate of gross fixed capital formation, GDP, economic activities, inflation, merchandise export, scenario based mac
JEL: E 00, E 17, E 69
Article in Ukrainian (pp. 48 - 74) | Download | Downloads :190 |
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