№ 2014/3

The article continues the author's research on the negative impact of considerable distortions in the institutional structure of gross disposable income on the dynamics of investments and GDP. It is the first time that structural analysis of the balances of incomes and expenditures of institutional sectors is considered by subsectors, which allows to define both sectoral and intra-sectoral misbalances in the generation of gross disposable income. The author shows the main channels of emergence of the above mentioned misbalances, which have led to higher volumes of net crediting in the sectors of financial corporations and households (especially in the subsector of employers), and, at the same time, to the expansion of net borrowing in the sector of non-financial corporations (especially in the subsector of public non-financial corporations) and in the sector of central government. Such an intersectoral misbalance has produced an effect of decrease in the level and efficiency of use of the national gross savings, hindering the economy's recovery from the investment crisis and emergence of a stable tendency of the loss of the positions of Ukrainian producers even on the domestic market.

Keywords: distortion of the structure of gross disposable income, subsectoral break down of the balances of incomes and expenditures of the institutional sectors, property incomes, social transfers, capital transfers, social standards