Economic globalisation as a source of ukrainian economic growth

Magisterarbeit von Anna Seleseneva

Abstract:

The object of the research is the national economy of Ukraine.

The subject of the thesis is the economic growth under conditions of globalization.

The purpose of the research is to identify the impact of globalization factors on the economic growth of Ukraine and to develop on this basis main guidelines for foreign economic policy which needs improving.

Research techniques are the method of logical abstraction, systematic approach, historical method, deductive method, monographic method, comparative approach, typology, economic and statistical analysis, retrospective analysis, econometric methods such as regression analysis, least squares method and methods of testing statistical hypothesis.

The actual data for this paper are based on official Ukrainian and foreign statistical databases including State committee of Statistics of Ukraine (SCSU), National Bank of Ukraine (NBU), International monetary fund (IMF), World Bank (WB), committees of United Nations organization, World trade organization (WTO), the US National bureau of economic research (NBER), Ukrainian and foreign publications, proceedings of international conferences. All econometric computations are performed by means of EVeiws and MS Excel software.

In the issue of the research globalization indicators influencing economic growth in Ukraine are developed. They include openness of Ukrainian economy to trade in goods and services (general and according to its structure), openness to financial globalization (FDI and portfolio investment flows, external debt, and international reserves as a share of GDP), growth rates of world and Russian GDP, world price indexes on oil and metals, index of economic freedom of Ukraine. The impact of these indicators on economic growth is defined and mathematically proven. Of all abovementioned indicators the following proved to be statistically significant: openness to trade in ferrous and non-ferrous metals, in machinery, in services, growth rates of Russian GDP and world oil price index. These results show that main orientations of foreign economic policy of our country should be differentiation of foreign trade structure, development of market institutions, improvement of FDI attracting schemes, development of equity market and sever restriction of shadow economy.

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