Economic development of Ukraine and its discriminant analysis

Pohorielova Tetiana
PhD (Economics), Associate Professor, Department of Statistics and MME, Odessa National Economic University, Odesa, E-mail:tvpogor@gmail.com, ORCID ID: https://orcid.org/0000-0003-1045-3244

Guzynska Alina
4th year student of the Faculty of Economics and Business Management, Odessa National Economic University, Odesa, E-mail:guzinskaya.alina2003@gmail.com, ORCID ID:

Cite this article:

Pohorielova T., Guzynska A. (2023) Economic development of Ukraine and its discriminant analysis. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Ekonomichnyi rozvytok Ukrainy ta yoho dyskryminantnyi analiz; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 7-8 (308-309), pp. 34-41.

Abstract

The purpose of the study is to define and form an integral indicator of economic development and to assign Ukraine to a certain cluster in the economic distribution of European countries through a discriminant function. The study is performed using general scientific and special techniques and methods of statistical research: comparison, analysis and generalization of the results obtained. The article considers the category of economic development as an irreversible economic growth of production on the basis of the latest technologies and the introduction of new products. The main stages of economic development of Ukraine since independence are presented and characterized. The essence of macroeconomic indicators of gross domestic product and gross national income and the need to use them to build integrated indicators of economic development are revealed. The article analyzes the dynamics of GDP per capita and GNI per capita in Ukraine for the period 2011-2021 and reveals their upward trend. However, despite the rather positive picture, it is noted that in comparison with the EU countries, these indicators of Ukraine's economic development remain unsufficient, since their values do not reach the minimum European indicators. The matrix of initial data is formed. The discriminant function of the economic development of Ukraine and European countries in 2021 is constructed and analyzed. The obtained results allowed us to form two clusters, each of which characterizes a high and low level of economic development of countries. Using the discriminant function, Ukraine is assigned to the second cluster, which indicates significant problems of economic development. Possible directions for improving the economic situation of the state are proposed. The results obtained can be used to develop a strategy for managing the national economy.

Keywords

discriminant function, cluster, economic transformations, inflation, production, gross domestic product, gross national income, dynamics.

JEL classification: В220, C130; DOI: 10.32680/2409-9260-2023-7-8-308-309-34-41

UD classification: 311.1:330.5

References

1. Chorna, L. O. & Andrushchenko, N. O. & Nikolaiets, K. M. & Khrustalova, V. V. (2015). Istoriia ekonomiky ta ekonomichnoi dumky: navch. posibnyk. Vinnytsia: Vydavnycho-redaktsiinii viddil VTEIKNTEU. [In Ukrainian].
2. Shapoval, K. (2021). 1993. Hyperinflation. The history of Ukrainian business. Forbes. Retrieved from https://forbes.ua/company/30-rokiv-ukrainskomu-biznesu-1993-rikgiperinflyatsiya-06072021-1956 (Accessed 21 May 2023). [In Ukrainian].
3. State Statistics Servise of Ukraine (2023). Official web-site. Retrieved from https://ukrstat. gov.ua (Accessed 21 May 2023). [In Ukrainian].
4. Sofiienko, A. P. (2017). Stages and peculiarities of Ukraine's external public debt formation.Finansovi posluhy, 6, 24-28. [In Ukrainian].
5. Zanuda, A. (2022). How the Ukrainian economy survived 2022. ВВС News Ukraina. Retrieved from https://www.bbc.com/ukrainian/features-64008306 (Accessed 21 May 2023). [In Ukrainian].
6. Samotoienkova, O. V. & Olvinska, Yu. O. (2020). Ekonomichna statystyka: navch. posib. (2nd ed). Odesa : FOP Huliaieva V. M. [In Ukrainian].
7. World Bank (2023). Official web-site. Retrieved from https://datatopics.worldbank.org/ world-development-indicators/ (Accessed 21 May 2023). [In Ukrainian].
8. Ministry of Finance of Ukraine (2021). Official web-site. Retrieved from URL:https://index. minfin.com.ua/ua/labour/unemploy/2021/ (Accessed 21 May 2023). [In Ukrainian].
9. Bilous, O. (2021). Independence in numbers. How Ukraine's economy has changed in 30 years. RBK-Ukraina. Retrieved from https://www.rbc.ua/ukr/news/nezavisimost-tsifrahizmenilas-ekonomika-1629802576.html (Accessed 21 May 2023). [In Ukrainian].
10. Klebanova, T. S. & Hur’ianova, L. S. & Chahovets, L. O. & et al. (2020). Biznes-analityka bahatovymirnykh protsesiv: multymediinyi navch. posib. Kharkiv: KhNEU im. S. Kuznetsia. Retrieved from http://ebooks.git-elt.hneu.edu.ua/babap/about.html (Accessed 21 May 2023). [In Ukrainian].
11. World GDP: volume, growth rate, per capita, structure. Тake-profit.org. Retrieved from https://take-profit.org/statistics/gdp/ (Accessed 21 May 2023). [In Ukrainian].